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USAÄ°D provides training service to Mughanbank

30 October 2008 16:02 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As part of its Financial Sector Stability Program (FSSP), as implemented by Bankworld Inc., the United States Agency for International Development (USAID) is providing technical advisory and training services to MughanBank, a local commercial bank in Azerbaijan.
Technical advisory and training services are aimed to help the development of local banks and increase their competitiveness in small and medium-sized business activities.
Bankworld Inc. will provide advisory and training services that incorporate international SME best practices in the delivery of financial intermediation services. These globally tested practices will address, credit officer training in assessing services and methodologies appropriate to the SME sector, effective portfolio quality, credit administration, and risk management practices, bank domestic deposit gathering, product development, and operational opportunities and management Information Systems (MIS) utilization in constructing effective financial reporting and analysis tools.
$1 million will be allocated to provide advisory and training services to five banks (AtraBank, Mughanbank, NBCBank, Azerdemiryolbank and Royal Bank of Azerbaijan) as part of the USAID-funded Financial Sector Stability Program.
As of October 1, Mughanbankâ€™s assets stood at AZN 91.851 million, loan portfolio at AZN 67.294 million, deposit portfolio at AZN 34.434 million, total capital at AZN 14.981 million and authorized capital at AZN 12 million.
Mughan Bank has been in operation since 1992. The bank operates 23 branches, 25 ATMs and 62 POS-terminals.