Bank Of Baku

Mugan Bank’s profit triples

Mugan Bank’s profit triples
# 27 January 2012 11:59 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Mugan Bank’s profit made AZN 6.150 mln in 2011, up 2.7 times from 2010.

Bank says total income increased by 36% to AZN 32.299 mln, including interest incomes – by 21.851 mln, non-interest income – by 71% to AZN 10.448 mln. Bank’s expenditures surged 22% to AZN 26.149 mln, as well interest expenditures soared 8.8% to AZN 11.042 mln, and non-interest expenditures went up 34% to AZN 15.107 mln.

Bank’s interest profit climbed 46% to AZN 10.809 mln, non-interest loss dropped 9.7% to AZN 4.659 mln.

Remind that, Mugan Bank has been in operation since 1992. The bank operates 30 branches, 51 ATMs and 89 POS-terminals across the country.
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