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Mughan Bank gets 57% rise in net profit

20 October 2008 10:23 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijan-based Mughan Bankâ€™s assets stood at AZN 91.851 million, up 24.8% on a year earlier.
The bank said loan portfolio rose 54.4% to AZN 67.294 million, deposit portfolio increased 26.1% to AZN 34.434 million, total capital went up 22.3% to AZN 14.981 million and authorized capital jumped 20% to AZN 12 million.
Consumer loans rose 37.9% to AZN 14.253 million.
Revenues for January-September increased by 74.2% over the past year to AZN 10.524 million and expenditures rose by 55.3% to AZN 1.541 million.
Profit rose 55.3% to AZN 1.541 million and net profit increased 57.4% to AZN 1.307 million.
The bank established 7 branches, 8 ATMs and 19 POS terminals over the past year. The number of employees rose 40.2% to 286.
Mughan Bank has been in operation since 1992. The bank operates 23 branches, 25 ATMs and 62 POS-terminals.