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Mugan Bank increases profit by 5 times

18 February 2011 14:37 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, 2011, Azerbaijan-based Mugan Bankâ€™s assets stood at AZN 208.675 mln, up 39% from year earlier.

Bank says loan portfolio rose 35.3% to AZN 135.271 mln, including consumer lending declined 16% to AZN 19.261 mln, loans given through AMF soared 96% to AZN 18.508 mln and overdue credits advanced 4.9% to AZN 1.252 mln.

Deposit portfolio grew 40.2% to AZN 82.358 mln, as well populationâ€™s deposit surged 27% to AZN 56.562 mln, trem deposit climbed 25% to AZN 52.821 mln, demand deposit gained 79% to AZN 29.357 mln.

Total capital rose 15% to AZN 25.069 mln, authorized capital grew 5.3% to AZN 20 mln.

Income soared 51% to AZN 23.649 mln, expenditure surged 41% to AZN 21.400 mln. Profit increased by 4.9 times to AZN 2.249 mln.

Remind that Mugan Bank has been in operation since 1992. The bank operates 30 branches, 35 ATMs and 73 POS-terminals across the country.