EBRD to sign new loan agreement with Mughan Bank

EBRD to sign new loan agreement with Mughan Bank
# 04 September 2008 17:04 (UTC +04:00)
Baku. Elnur Huseynguluyev - APA-Economics. EBRD and Mughan Bank will sign a loan agreement in late September or late October, said Francis Delaey, Head of the EBRD Office in Baku.
He added that the size and interest rate of the loan has not be fixed yet.
The proceeds of the loan will go to small and medium-sized enterprises.
Mughan Bank said EBRD is due to extend a $5 million loan.
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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THE OPERATION IS BEING PERFORMED