Bank Of Baku

Muganbank gets 30% rise in assets

Muganbank gets 30% rise in assets
# 04 August 2011 09:59 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. As of July 1, 2011, Azerbaijan-based Muganbank’s assets stood at AZN 221.316 mln, up 29% from year earlier.

Bank says the deposit portfolio extended 7.5% to AZN 73.825 mln loan portfolio rose 37.7% to AZN 160.144 mln, as well consumer lending soared 31% to AZN 26.081 mln. Total capital surged 16.7% to AZN 28.163 mln, including authorized capital climbed 11.3% to AZN 22.250 mln.

Note that, income advanced 36.2% to AZN 15.007 mln, expenditure soared 30.7% to AZN 12.313 mln. Profit gained 68.6% and settled at AZN 2.694 mln.

AT the sane time, bank has established 1 branch, 9 ATMs and 19 POS-terminals. Staffs rose 1034% to 508.

Remind that, Muganbank has been in operation since 1992. The bank operates 30 branches, 41 ATMs and 89 POS-terminals.
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