Caspian Energy (CE): What success has the Bank Technique achieved after re-branding in 2012? Which innovative technologies have been introduced over this period? 

Ulvi Mansurov, Chairman of the Board, Bank Technique OJSC: Bank Technique OJSC has been successfully operating in the market of banking services of Azerbaijan since 1994. As you know, in 2012 the shareholders of the Bank made a decision to develop a new image. While performing the re-branding the management of Bank applied all efforts to maximally reflect the adherence to modern standards of banking and aspiration toward innovations. 

We are performing all main banking operations and are the universal bank developing both the corporate and retail business line. 

Economic indicators of the bank activity have progressively improved throughout 2013. As a result of a number of measures, the bank’s authorized capital exceeded 75 mln AZN in August of this year. The bank is meeting the Azerbaijan Central Bank’s requirement for the minimum rate of the overall capital to be 50 mln AZN. 

It is gratifying to emphasize that the growth of deposit accounts of individuals reached a record rate at Bank Technique. The total volume of deposits totaled 131.7 mln AZN late in November, that is 66.7% or 52.7 mln AZN higher than the figures fixed early this year. These indicators can be considered one of the best among Azerbaijani banks. The growth of the deposits acknowledges the trust to the financial institution, which in turn is a key to its further successful development. 

Regarding the second part of the question, it is no secret that the world has been changing and the number of remotely performed operations is growing. So, banks are adjusting their business to new requirements via internet. Creation of convenient and safe online-service is one of the main tasks of the banks today. Bank Technique is also working over improvement of full-function branchless banking. We plan to complete introduction of the most valuable module for remote account control by the end of the year. It will let us shift to a new level of remote control when all banking services are practically provided through technologies. Meanwhile, it will increase the money circulation rate by several times. 

CE: Taking the abovementioned into account, shall we assume that the Bank is reconsidering its policy of service network expansion by mainly focusing on branchless banking service?

Ulvi Mansurov: We have approved a new strategy of geo-location of branches and departments. We conducted restructuring and optimization of the branch network of the bank after re-branding. The availability of the online-service is certainly taken into account while making decisions about opening of new branches. However, the Bank is aspiring to get closer to its clients and the availability of the broad branch network is very necessary. Yeni Heyat was the Bank’s first branch opened after re-branding in December of the past year, established in accordance with the new concept and offering clients high-quality bank products and services in compliance with high standards. By the way, the branch office is operating on Sundays as well. Two more new branches have been opened in the capital this week: Markaz, Mugan and two departments: Inshaatchilar and Neftchilar. In general, the bank has 32 branch offices and 8 departments operating in Baku and in the regions. Opening new subdivisions, the bank is expanding its geographic presence that helps to both attract new clients and ensure operational solution of their financial issues.   

CE: The Bank has recently raffled off an automobile vehicle among its depositors. You noted about the growth of the deposit portfolio. What could you tell about the development of new deposit programs?

Ulvi Mansurov: Yes, it is true, the first lottery was arranged among the “Şans” depositors on November 15. The Bank awarded the winner with Volkswagen Polo vehicle. The following draw is scheduled in April of the next year. 

I would like to note that the work on development of new bank products including deposits is held regularly. The specialists of the bank trace the latest tendencies of the world banking market for adapting and introducing the best and most advanced systems/products in order to meet the requirements of our clients. Regarding the deposits, there are 10 deposit programs operating in the Bank: «Unikal», «Standart», «Yığım» (Accumulative), «Xeyriyyəçi» (Charitable), «Multi-TEC», «Duo-TEC», «Smart», «Şans» (Chance), «Tələbli» (on demand) and «Uşaq» (Child’s) – which offer different terms of money holding. As you know, our Bank is a member of the deposit insurance fund that secures of private deposits in accordance with the provisions of the Law “On insurance of deposits”. The Smart deposit has been developed recently and provides an opportunity to pay half of accrued interests in advance. Depending on the maturity date, a depositor may get up to 50% of interests on the day when a deposit is opened. 

CE: Bank Technique positions itself as an innovative bank. How would you assess the Bank’s achievements in 2013?

Ulvi Mansurov: This year was quite successful for Bank Technique. It is not only a subjective opinion formed in the Bank, for foreign experts also gave a positive evaluation to the work of the management. For instance, the international audit company KPMG marked the work carried out for reimbursement of problem loans and recovery of the credit portfolio. 

In October of this year the Bank received international prize IAIR Award in the “Excellence in Banking Services” nomination for provided quality services. At the prize presentation ceremony held in Milan under the patronage of the European Commission the organizers emphasized the adherence of the Bank to new technologies and innovations. Apart from this, an International Finance Magazine named Bank Technique the winner in two nominations: “The best Internet Bank of Azerbaijan 2013” and “The most innovative bank of Azerbaijan 2013”. An influential analytical portal Global Banking&Finance Review” named the Bank Technique the Fastest Growing Bank of Azerbaijan through 2013. 

I would like to note that the Bank managed to build an image of reliable and modern financial institute. However, we are satisfied with it, and keep constantly strengthening our reputation of a modern credit institution, a reliable and responsible partner.