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03 May 2013

Azerbaijan: First potentially fully remote bank plans to restore assets up to 77% of corporate record

This year Bank Technique (former name - Texnikabank) plans to regain partly its position lost in 2012.

The Bank reports that in compliance with its strategic plan 2013 it is also planning to increase its assets up to AZN 500 million with keeping the level of annual profit within at least AZN 2 million.

"Our total capital now stands at AZN 42 million. We also plan to increase the share capital by AZN 16 million up to AZN 80 million,” the Bank informed.

The Bank sees the basis for such progress in transition to a qualitatively new level of activity – renewal of business processes, cost optimization, improvement of infrastructure and increase of efficiency of all the structures of the bank, as well as active work on return of bad loans.

"Our main objective for the future is complete transfer of customer service to remote basis. Today, we have computerized most of our processes," the Bank said.

For the entire period of its activity the record for the Bank was assets at the level of AZN 650-700 million, and by 2014 the Bank plans de facto to recover by 76.9% of this "target".


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