Texnika Bank's profit up almost 10 percent in October

Business Materials 15 November 2011 18:59 (UTC +04:00)

Azerbaijan, Baku, November 15 / Trend, N. Ismailova /

The assets of Azerbaijani Texnika Bank increased by 1.5 percent in October up to 596.75 million manat on November 1, the bank reported on Tuesday.

The bank's credit portfolio in the observed month decreased by 1.8 percent to 404.9 million manat, including 36.4 million manat as the share of credits to consumers. The bank's portfolio of deposits increased by 1.7 percent during October up to 281.4 million manat. Physical persons' deposits to the bank were 206.44 million manat, as of this date. On November 1, Texnika Bank's liabilities were equivalent to 504.9 million manat.

As of the end of the observed period, the bank's consolidated capital and statutory capital were equivalent to 102.9 million manat and 64.8 million manat, respectively. In October, the bank's profit increased by 9.3 percent up to 6.8 million manat. The consolidated incomes, as of the end of the reported period, were 50.4 million manat.

Texnika Bank has been operating in the country since 1993 and was the 100 percent Azerbaijani bank prior to 2007. Currently, the bank's majority shareholder is World Wines that holds 75 percent of its stock. Chairman of the bank's Observation Board Etibar Aliyev and US's Kazimir Investment Caspian Fund hold 15 percent and 10 percent, respectively, of the stock.

The official exchange rate on November 15 is 0.7866 AZN/USD.