Assets of Azerbaijani Texnika Bank increases by a quarter in 2011

Assets of Azerbaijani Texnika Bank increases by a quarter in 2011

Azerbaijan, Baku, Jan. 18 /Trend/

The assets of the Azerbaijani Texnika Bank amounted to 629.3 million manat at the end of 2011, increasing by 24.4 percent during the year, the bank said on Wednesday. Revenues on assets (ROA) amounted to one per cent, and on capital (ROE), 7.65 per cent.

'A number of quantitative and qualitative changes occurred in the bank's activities as part of the strategic development plan for 2011 and now the bank is in the top 5,' the statement said.

The authorised capital of the Texnika Bank rose by 20.6 per cent to 64.8 million manat in 2011 and total capital increased by 54.2 per cent to 99.1 million manat.
Its deposit portfolio increased by 32.4 per cent to 338.7 million manat during 2011, including deposits of individuals amounting to 257.5 million manat. General obligations of the bank were 537.76 million manat.

The bank's loan portfolio increased by 19.4 per cent to 434.9 million manat during the year, where the proportion of bad loans (with a delay in payments over 90 days) reached 14.4 per cent (62.5 million manat). Texnikabank provided loans to 412 million manat, and consumer loans to 25.8 million manat, excluding the reserves and interbank loans.

Total income of the bank during the period amounted to 63.6 million manat, including interest on income 47.5 million manat and non-interest income 16 million manat. The bank's expenditures amounted to 57.4 million manat.

The bank's profit as of January 1, 2012, amounted to 6.1 million manat, and net profit (after tax payments) - 5.7 million manat.

The number of bank cards rose from 49 106 to 63 380 with Texnikabank increasing the number of ATMs across the country from 60 to 102. According to the statement, a significant increase was observed in the number of POS-terminals, from 115 to 1253 units.

The Bank has the most extensive branch network among private banks and today has 35 branches and 19 offices. Texnikabank opened its first office abroad in Istanbul (Turkey) in 2011.

Currently Texnika Bank with a staff of 734 employees provides all types of banking services to the customers.

Texnika Bank has been operating in the country since 1993 and has been a wholly owned Azerbaijani bank till 2007. Currently, the bank's main shareholder is World Wines holding 75 per cent of its shares. Chairman of the Bank's Observation Board Etibar Aliyev and U.S. Kazimir Investment Caspian Fund hold 15 per cent and 10 per cent of the shares, respectively.

Official exchange rate on Jan.18 is 0786.2 AZN/USD

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