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Mughan Bank gets 24% growth in assets

21 January 2009 09:49 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based Mughan Bankâ€™s assets stood at AZN 100.747 million, up 23.9% on a year earlier.
The bank said loan portfolio rose 36.5% to AZN 66.40million, deposit portfolio increased 58.4% to AZN 39.986 million, total capital went up 8.4% to AZN 14.871 million and authorized capital grew 9% to AZN 12 million.
Consumer loans dropped 46.5% to AZN 12.641 million.
Revenues for 2008 increased by 60.5% over the past year to AZN 14.321 million and expenditures rose by 73.6% to AZN 12.742 million.
Profit fell 0.4% to AZN 1.578 million and net profit decreased 2% to AZN 1.211 million.
The bank established 6 branches, 5 ATMs and 13 POS terminals over the past year. The number of employees rose 31.8% to 319.
Mughan Bank has been in operation since 1992. The bank operates 25 branches, 26 ATMs and 62 POS-terminals.