Bank Technique increases authorized capital

Baku: Management of Bank Technique has passed a decision on attraction of about AZN 8 mln long-term subordinated loan.

Bank says this is the first step taken for rehabilitation of capitalization declined due to devaluation processes in the country.

The decision of the shareholders will support to extension of activity by protecting competitive positions of the bank. Bank is going to issue new unique product – display-cards. At the same time, a concept has been adopted on establishment of technological departments operating on the principle of self-service.

Bank also noted that its deposit portfolio increased even during the devaluation processes. As of February 20, 2015, individuals’ deposit portfolio made AZN 195.4 mln. As of March 17, this portfolio increased 11.87% to AZN 2118.6 mln.

Bank is also going to introduce Insured+ deposit product.

SOURCE: Azeri-Press News Agency