Assets of Azerbaijani Muganbank increase over 16 percent

Photo: Assets of Azerbaijani Muganbank increase over 16 percent / Economy news

Baku, Azerbaijan, July 24
By Zulfiyya Gurbanova - Trend:

"Muganbank" Open Joint Stock Company's assets have reached an amount of 364.67 million AZN as of July 1, 2013, which is 16,4 % more in comparison with the respective period of the last year, the bank reported.

The Bank's total capital has amounted to about 53.796 million AZN.

Furthermore, deposits portfolio have reached 125.591 million AZN. The Bank's loan portfolio has amounted to 257 925 million AZN increasing by 16,1% .

Muganbank's income for the reported period has increased. Thus, the Bank's interest income has reached an amount of about 19. 487 million AZN and the non-interest income an amount of 8.393 million AZN.

Muganbank's liquidity ratio for the reported period is equal to 68%.

"Muganbank" OJSC, one of the well-known participants of Azerbaijani financial-banking industry has been functioning since 1992. The bank's 38 branches and 7 sub-branches in the country, as well as its representative office in Moscow effectively serve customers with all types of banking products. "Muganbank" OJSC cooperates with such international financial institutions as the US Agency for International Development (USAID), European Bank for Reconstruction and Development (EBRD), International Finance Corporation ("IFC"), World Business Capital, Inc. (WBC), Overseas Private Investment Corporation (OPIC) and Islamic Corporation for the Development of the Private Sector (ICD).

For more information about Muganbank products and services, you can call our information desk (933)

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