Bank Technique profit for the fourth quarter of 2012 exceeded 35 million manat

Bank Technique in the fourth quarter of 2012 came to profit in the amount of 35.73 million manat.

"Earnings for the quarter the bank has achieved against the background of improving the quality of the loan portfolio and, as a result, a reduction in redundancy. The management team of the bank to effectively manage the assets of the bank and in the next quarter of an even more pronounced performance," the bank said.

In addition, the fourth quarter non-interest income Bank Technique increased by more than 30% to 4.2 million manat. The bank's assets increased by 4% and by January 1, 2013 totaled 418 million manats

"We also note the growth of the deposit portfolio, which is one of our key indicators of the degree of confidence in the bank by the public. The volume of funds for the fourth quarter increased by 10% and by January 1, 2013 reached 177 million manat," the bank said.

In the fourth quarter, the bank's liquidity ratio was 47% (note that the minimum level of liquidity required by the CBA is 30%).

Also note that due to a number of measures overall capital brought 40.5 million manat.

"The transition to a qualitatively new level of activity - Update business processes, cost optimization, improved infrastructure and the efficiency of all the structures of the bank, as well as actively working to return bad loans, were the basis for the achievement of the bank as significant progress," is said in the statement.

Note that the new composition of the Board of Bank Technique (formerly Texnika Bank) was approved in May 2012. In June, at a general extraordinary meeting of there shareholders, the new composition of the Supervisory Board was approved.

To date, the bank operates 32 branches and 13 sub-branches in Azerbaijan. -15D -