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Mugan Bank gets 21% rise in Q1 assets

17 April 2013 08:15 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. As of April 1, 2013, Azerbaijan-based Mugan Bank’s assets stood at AZN 301.806 mln, up 21.4% compared with a year earlier.

Bank says the loan portfolio rose 11.6% to AZN 206.665 mln. At the same time, consumer lending soared 43.8% to AZN 47.291 mln. Overdue credits surged 27.5% to AZN 7.280 mln and its share in loan portfolio advanced 0.4 percentage points to 3.5%.

Deposit portfolio grew 18.8% to AZN 109.788 mln. Personal savings were equal to AZN 89.073 mln, up 18.8% from previous year.

Total capital increased by 38.5% to AZN 47.450 mln, including authorized capital climbed 35.3% to AZN 38.306 mln.

Number of clients rose 14.7% to AZN 71,193, as well as individuals went up 14.4% to settle at 65,932, legal entities increased by 17.8% to AZN 5,261. Number of plastic cards was equal to 10,315, up 17.1% in annual comparison. Debit cards rose 19.4% to AZN 9,457, credit cards dropped 3.9% to 858.

Remind that Mugan Bank has been in operation since 1992. The bank operates 30 branches, 51 ATMs and 659 POS-terminals across the country.