Azerbaijan, Baku, August 3 / Trend N. Ismayilova /
Azerbaijani Mugan Bank's assets increased 16 percent for the first six months and hit 116 million manat compared to similar period of 2008, the bank said.
As of July 1, loan portfolio hits 70 million manat by increasing 6 percent for reporting period.
Clients' deposits increased 52 percent. Clients' deposits hit 32 million manat in the first six months compared to 48 million manat in 2009. Urgent deposits increased from 18 million manat to 30 million manat by increasing 61 percent.
As a result of activity for the first half of 2009, balance profit of the bank is 16,100 manat.
Mugan Bank has been operating since 1992. As of July 1, 2009 the bank has 26 branches and 4 departments. The bank intends to expand number of branches.
On August 3, the official exchange rate is 0.8042 manat to $1.