Bank Of Baku

Mugan Bank predicts a surge in financial performance in 2009

Mugan Bank predicts a surge in financial performance in 2009
# 25 June 2009 16:43 (UTC +04:00)
Baku. Elnur Huseynguluyev - APA-Economics. Azerbaijan-based Mugan Bank plans to increase its assets by 37.6% to AZN 150 million and lending portfolio by 66.7% to AZN 100 million by the end of 2009, said Elmir Hasanov, chairman of the bank.

According to him, the bank intends to more than double its deposit portfolio to AZN 95 million and increase total equity capital by 35% to AZN 27 million.

He said the bank’s profit is expected to reach AZN 1.3 million for 2009.
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