Bank Of Baku

Mughan Bank to open three branches in September

Mughan Bank to open three branches in September
# 25 August 2008 14:09 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Mughan Bank intends to establish three branches in September, said Zaur Hajiyev, audit officer of the bank.
He added that twp branches will open in Baku and one in Goranboy.
“We have applied to the national bank of Azerbaijan for a license for branches,” he added.
As of July 1, the bank’s assets stood at AZN 99.484 million, loan portfolio at AZN 65.636 million, deposit portfolio at AZN 30.217 million, total capital at AZN 14.878 million and authorized capital at AZN 11 million.
Mughan Bank has been in operation since 1992. The bank operates 22 branches across the country.
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