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Mughan Bank seeks a loan from Black Sea Trade & Development Bank

Mughan Bank seeks a loan from Black Sea Trade & Development Bank

09 February 2009 13:36 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Mughan Bank will receive a $4 million loan from the Black Sea Trade & Development Bank in mid-2009, said Etibar Gasimli, Deputy Chairman of the Azeri Bank.
He added that the proceeds of the loan will go to trade financing.
According to him, the issue of extending a loan to the bank will be discussed at the board meeting of Black Sea Trade & Development Bank on Feb. 15-16.
As of January 1, Mughan Bankâ€™s assets stood at AZN 100.747 million, loan portfolio at AZN 66.40 million, deposit portfolio at AZN 39.986 million, total capital at AZN 14.871 million and authorized capital at AZN 12 million.
Mughan Bank has been in operation since 1992. The bank operates 25 branches, 26 ATMs and

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