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Muganbank ends 2016 on loss


As of January 1, 2017, Muganbank’s assets stood at AZN 470.824 million, down 17.14% from previous year.

 

Bank says the loan portfolio declined 7.64% to AZN 346 million, overdue credits grew 2.18 times to AZN 53.528 million, total capital increased 19.52% to AZN 65,606,000, authorized capital increased 50% to AZN 75 million.

 

Revenues soared 14.63% to AZN 80,705,000, expenditures dropped 21.48% to AZN 54,720,000.

 

Bank ended 2016 on loss in the amount of AZN 14 million.

 

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