OREANDA-NEWS. April 13, 2011. Azerbaijan’s Texnikabank is planning to increase its assets by AZN 110 million by the end of the year.

Bank’s chairman of board Samir Guliyev informs that to date Texnikabank’s assets total AZN 540 million to be brought up to AZN 650 million before the end of 2011. Bank’s liabilities reached AZN 450 million.

"In the 2006, 2007 and 2008, our assets grew up to three-digit figures. In the last three years we have increasingly focused on institutional development, and assets growth was within 10-15%. Now we are ready for a second wave of growth within 30% following this year,” Guliyev said.

As of 1 April 2011, Texnikabank’s assets amounted to AZN 545.6 million and this index rose by 20.55% this year and by 7.82% against early 2011. Bank’s authorized capital increased by 20.62% up to AZN 64.755 million.

Texnikabank’s loan portfolio reached AZN 382.2 million that is by 9.58% more versus the 2010 same period and by 4.91% more against early 2011. In the first quarter of 2011 Bank’s deposit portfolio grew by 7.82% (versus 58.72% over the first quarter of 2010) up to AZN 275.68 million.

Bank’s overall capital grew by 11.8% (against 2010) up to AZN 65.346 and authorized capital by 20.62% up to AZN 64.755 million.

Compared with the same period of 2010, the number of Texnikabank’s plastic cards rose by 4.52% up to 51,323, cash machines by 42.1% up to 81 and POS-terminals by 74.49% up to 602.

Texnikabank’s was established in 1993, and is currently in TOP 5 of leaders of the national banking sector. The Bank has 35 branches and 5 sub-branches in Baku and regions of the country.