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Mugan Bank expands its ATM and POS-terminal network

02 July 2009 14:00 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. Azerbaijan-based Mugan Bank plans to expand its ATM network by 15.4% to 30 ATMS by this yearend, said Emil Hasanov, Chairman of the Bank.

According to him, 4 banks have been ordered for delivery.

He added that there are some problems with respect to expanding the POS-terminal network.

â€œThe problem is that shopping centers choose to work with only one bank. From this perspective, our increasing the number of our POS-terminals will depend on the ordered to be made by new shopping centers,â€ he added.

The bank currently operates 26 ATMs and 62 POS-terminals across the country.

The bank operates 25 branches, including 17 branches in Baku.

Owned by four individuals Mugan Bank has been in operation since 1992.
As of 1 April, assets amounted to AZN 108.783 million, deposit portfolio - AZN 44.170 million, credit portfolio - AZN 69.753 million, total capital - AZN 20.428 million authorized capital stock â€“ AZN 18 million.