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Mughan Bank gets 27% year-on-year growth in assets

Mughan Bank gets 27% year-on-year growth in assets

13 May 2009 14:16 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of April 1, Azerbaijan-based Mughan Bankâ€™s assets stood at AZN 108.783 million, up 27% on a year earlier.

The bank said loan portfolio rose 6.7% to AZN 69.753 million, deposit portfolio increased 46.5% to AZN 44.170 million, total capital went up 42.3% to AZN 20.428 million and authorized capital grew 64% to AZN 18 million.

Consumer loans dropped more than twofold to AZN 11.385 million.

Revenue increased 35.2% year-on-year to AZN 3.110 million and expenditure rose 51% to AZN 3.747 million. The bank suffered a loss of AZN 637 000 for the first quarter.

The bank established 5 branches, 6 ATMs and 12 POS terminals over the past year.

Mughan Bank has been in operation since 1992. The bank operates 24 branches, 27 ATMs and 63 POS-terminals.

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