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Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
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Name : |
BANK TECHNIQUE ASC |
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Formerly Known As : |
TEXNIKABANK ASC |
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Registered Office : |
Ataturk Avenue,
1107th Block Narimanov District Baku AZ1069 |
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Country : |
Azerbaijan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.02.1994 |
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Legal Form : |
Open Joint Stock Company |
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Line of Business : |
Providers of
all aspects of banking services including personal and business banking. |
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No. of Employees : |
500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Azerbaijan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
AZERBAIJAN - ECONOMIC
OVERVIEW
Azerbaijan's high economic growth during 2006-08 was
attributable to large and growing oil exports, but some non-export sectors also
featured double-digit growth, including construction, banking, and real estate,
although most of this increase was tied to growth in the hydrocarbon sector. In
2011, economic growth slowed to 0.1%, largely because oil production reached a
plateau. Real GDP growth improved in 2012, reaching about 40%, but the current
global economic slowdown presents some challenges for the Azerbaijani economy
as oil prices remain volatile, highlighting Azerbaijan's reliance on energy
exports and lackluster attempts to diversify its economy. Oil exports through
the Baku-Tbilisi-Ceyhan Pipeline remain the main economic driver while efforts
to boost Azerbaijan's gas production are underway. Natural gas from fields
under development in Azerbaijan by an international consortium is the only gas
currently available for the geopolitically important Southern Corridor project,
which aims to improve European energy security. However, Azerbaijan has made
only limited progress on instituting market-based economic reforms. Pervasive
public and private sector corruption and structural economic inefficiencies
remain a drag on long-term growth, particularly in non-energy sectors. Several
other obstacles impede Azerbaijan's economic progress, including the need for
stepped up foreign investment in the non-energy sector and the continuing
conflict with Armenia over the Nagorno-Karabakh region. Trade with Russia and
the other former Soviet republics is declining in importance, while trade is
building with Turkey and the nations of Europe. Long-term prospects depend on
world oil prices, the location of new oil and gas pipelines in the region,
Azerbaijan's ability to negotiate export routes for its growing gas production,
and its ability to manage its energy wealth to promote growth and spur
employment in non-energy sectors of the economy.
Source
: CIA
Bank Technique ASC (Correct)
OAO BANK TECHNIQUE
(Requested)
Street :
Ataturk Avenue, 1107th Block
Area :
Narimanov District
Town :
Baku AZ1069
Country :
Azerbaijan
Telephone : (994 12) 447 7744 ext. 268 (Habil
Dzhavadov) / 441 2206 / 440 2961
Fax :
(994 12) 493 8711 / 440 2961
E-Mail :
habil.cavadov@banktechnique.az
Trading Style :
Bank Technique
English
Translation : Bank Technique OJSC
Also known as :
Bank Technique Acik Sehmdar Cemiyyeti
Formerly known as
: Texnikabank ASC / Texnikabank OJSC
Name Position
1. Ulvi Eldar
Oglu Mansurov Chairman
2. Yashar Khasay
Oglu Safarov First Deputy Chairman
3. Ayaz Tofik
Oglu Geray-zade Deputy Chairman
4. Orkhan Ziyad
Oglu Guseynov Member of the Board / Finance
5. Dzhamin Mikail
Oglu Gadzhiev Member of the Board
6. Habil
Dzhavadov Legal advisor
7. Ms.
Shagiya Accountant
Total Employees :
500
No complaints
have been heard regarding payments from local suppliers
or banks.
We consider it is
acceptable to deal with subject for LARGE amounts,
although it is
normal accepted practice for international suppliers
to deal on
secured terms with Azerbaijani importers.
Trade risk
assessment : Normal
NAME :
AZERBAYCAN RESPUBLIKASININ MERKEZI BANKI
Branch : Rashid Behbudov Street 32, Nasimi District
Town :
Baku AZ1014
Telephone : (994 12) 493 1122
Fax : (994 12) 493 5541
Balance Sheets as at 31 December 2010 showed (latest available) :
31/12/2010 31/12/2009
(in thousands of NEW MANAT)
ASSETS
Cash and cash equivalents 44,870 47,897
Mandatory cash balances with CBA 1,102 837
Due from other banks 4,119 6,980
Loans and advances to customers 358,355 342,509
Investment securities available for sale 10,997 609
Other securities 11,633 2,336
Investment properties 16,278 1,181
Premises and equipment 37,768 39,111
Intangible assets 1,730 2,628
Other financial assets 2,835 3,340
Other assets 6,057 2,778
TOTAL ASSETS 495,744 450,206
LIABILITIES AND EQUITY
LIABILITIES
Due to other banks 21,896 28,826
Customer accounts 269,513 189,812
Debt securities in issue 3,337 10,906
Term borrowings from other banks
and financial institutions 122,969 157,007
Current income tax liabilities 229 -
Deferred income tax liabilities 1,316 971
Other financial liabilities 3,230 1,916
Other liabilities - 2,173
TOTAL LIABILITIES 422,490 391,611
EQUITY
Share capital 53,685 41,712
Share premium 3,464 3,464
Retained income 12,939 3,143
Revaluation reserve for premises 3,049 149
Revaluation reserve for investment available
for sale 117 10,127
TOTAL EQUITY 73,254 58,595
TOTAL LIABILITIES AND EQUITY 495,744 450,206
PROFIT AND LOSS ACCOUNT
Interest income 49,335 53,355
Interest expense (26,560) (27,458)
Net interest income 22,775 25,897
Provision for loan impairment (7,139) (9,354)
Net interest income after provision
for loan impairment 15,553 16,543
Fee and commission income 10,381 10,495
Fee and commission expense (2,446) (2,070)
Dividend income 632 200
Gains less losses from trading in
foreign currencies 1,830 856
Foreign exchange translation losses
less gains 1,625 626
Other operating income 34 21
Operating income 27,493 26,671
Administrative and other operating expenses (3,861) (3,261)
Staff costs paid (6,397) (6,097)
Administrative and other operating expenses (15,106) (13,959)
Profit before tax 12,387 12,712
Income tax expense (344) -
Profit for the year 12,043 12,712
Financial year ends 31 December.
Date Started : 24
February 1994
History : The
subject company was established in Azerbaijan on 24 February 1994 under the
name Rashadbank Commercial Bank Ltd. Upon the decision of the owners made on 10
February 1997, the Bank changed its name to "Texnikabank" and was
registered as a limited liability company on 18 June 1998. Based on the
requirements of the new law on banking adopted on 16 January 2004, upon the
decision of the owners dated 27 August 2004, the Bank was re-registered as an
Open Joint Stock Company on 26 November 2004. On 11 September 2012 subject
changed its name to the present style.
Tax No.: VOEN
9900000681
Banking Licence
No.: 198 (issued by the National Bank of Azerbaijan
on 29 February 1994)
SWIFT BIK:
TECIAZ22
Authorised
Capital : NEW MANAT 41,712,000
Paid-Up Capital :
NEW MANAT 41,712,000
Achyuk Sekhmdar
Camiyeti (open joint stock company) with the
following
shareholders :
Shareholders Percentage
1. World Wines Ferdi Firmasi 75%
(World Wines Private Company)
Yesenin Street 11, Office 4
Azizbeyov District
Baku
Est.: 23 October 2000
(owned by Adil Mammadov)
(wine production, food processing and agriculture)
2. Etibar Aliyev 15%
3. Kazimir Caspian Fund Limited 10%
Cayman Islands
(domiciled in the Russian Federation)
(the above company is an affiliated company to Kazimir Russia
Master Fund Limited)
The ultimate controlling party of Bank Technique is the majority shareholder World Wines, and its controlling party Adil Mammadov.
Affiliated companies of Bank Technique ASC :
Subsidiaries
1. Technika Capital Management Limited LLC (TCML) 100%
Est.: 16 May 2002
Provides capital management services to Technikabank's customers.
2. Texnikalizinq MMC 100%
Hasan Aliyev Street 63/2
Baku AZ1000
Telephone: (994 12) 465 6831 / (994 55) 200 5258
Fax : (994 12) 465 6832
Est.: 2 June 2004
Tax No.: VOEN 1500028081
Capital : NEW MANAT 200,000
(ceased trading and became dormant in 2012)
3. Alfa Insurance LLC 100%
Established on 28 August 1997 under the name of Murad Insurance
Company and changed its name to Alfa Insurance on 3 June 2005.
Alfa Insurance was acquired by Technikabank on 12 December 2006
from Huseynov Yagub Valeh, who owned 100% of the shares of Alfa
Insurance, for consideration of AZN 1.5 million.
The Company is
involved in the following activities :
Providers of all
aspects of banking services including personal and
business banking.
NACE Code : 6411
The Company has
the following facilities :
Administrative
office and banking facilities located at the heading
address.
Bank Technique
provides banking services through its network of 35 branches, 2 service outlets
and 3 currency exchange points. In addition Bank Technique has alternative
distribution channels including 46 ATMs, 327 point-of-sale (POS) terminals and
an internet banking service.
Subject's head
office premises formerly located at the following address :
Ataturk Avenue
41/47
Baku AZ1069
Ataturk Avenue,
1107th Block
Narimanov
District
Baku AZ1069
You enquired on :
OAO BANK TECHNIQU is incorrect. Please note that subject’s correct registered
name is as per heading.
Interviewed:
Habil Dzhavadov (Legal advisor).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.48 |
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1 |
Rs.82.71 |
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Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through %)
are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.