«Bank Technique» made a statement which denied the media publications about its closure and the loss of money on its accounts. "Such rumors cause concern of the management and the bank's customers. There are certain difficulties, which they try to address by all resources: cost optimization, restructuring and other measures," reads the statement.
Over the past three years, the aggregate bank capital increased significantly during this period, were returned 157 million AZN; of them 310 million manat overdue loans, the report says.
"There is no danger of losing money on the bank accounts. This also applies to all of our customers," the report says.
* JSC Bank Technique was created in 1994 under the name "Bank Technique", and is among the ten leading banks in the country.
In recent days, the media published a series of articles about the bankruptcy of the bank, firing employees and the inability of customers to withdraw money from their accounts.-02D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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