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Mugan Bank sees 55% rise in deposit portfolio

20 July 2010 15:29 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of July 1, 2010, Azerbaijan-based Mugan Bankâ€™s assets stood at AZN 171.618 mln, up 47.5% compared with a year ago.

Bank says the deposit portfolio climbed 54.9% AZN 75.828 mln, loan portfolio rose by 68.2% to AZN 117.278 mln, consumer lending 21.2% increased to AZN 19.930 mln.

Total capital grew 13.8% to AZN 24.126 mln, authorized capital soared 11% to AZN 20 mln.

Income surged 62% to AZN 11.019 mln, expenditure ended up 33% to AZN 9.031 mln. Profit rose by 124 times to AZN 1.988 mln.

During the same period bank established 3 branches, 3 ATMs and 7 POS-terminals.
Owned by 4 individuals Mugan Bank has been in operation since 1992. The bank operates 29 branches, 32 ATMs and 70 POS-terminals across the country.