Bank Of Baku

Mugan Bank increases profit sharply

Mugan Bank increases profit sharply
# 19 October 2010 14:26 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of October 1, 2010, Azerbaijan-based Mugan Bank’s assets stood at AZN 193.195 mln, up 33% compared wityh a year ago.

Bank says the deposit portfolio extended 37.4% to AZN 76.244 mln, population’s deposit increased by 26% to AZN 54.774 mln, loan portfolio soared 63% to AZN 128.491 mln, consumer lending surged 19.3% to AZN 21.120 mln.

Total capital gained 14% to AZN 25.042 mln, authorized capital climbed 11% to AZN 20 mln.

Income rose 56% to AZN 71.250 mln, expenditure raised 42% to AZN 14.971 mln. Profit rose by 4.5 times to AZN 2.279 mln.

Mugan Bank has been in operation since 1992. The bank operates 30 branches, 35 ATMs and 70 POS-terminals across the country.
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