Bank Of Baku

Mugan Bank can sell a part of shares to foreign financial organization

Mugan Bank can sell a part of shares to foreign financial organization
# 27 April 2012 08:48 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Mugan Bank is ready to sell a part of shares to foreign financial organizations, said the member of Supervisory Board Shaig Alekberov.

Alekberov noted that, bank can sell the shares to foreign organization when it presents goo offers: “Generally, bank plans to cooperate with foreign financial organizations closely to develop. This cooperation can bring more profit to bank. Therefore, Mugan Bank cooperates with EBRD, US WVC Corporation closely. If they make proposal on purchase of shares, Mugan Bank consider those proposals”.

Remind that, owned by 4 local individuals 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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