Credit portfolio of Muganbank for the quarter increased by 11%
Assets of Muganbank by April 1 totaled 343 million 894 thousand manats (+2.6 % YTD).
According to this financial structure, the volume of its loan portfolio over the period increased by 10.9 %, amounting to 243 million 859 thousand manats. Liabilities of the bank are at 295 million 73 thousand manats, and on deposit accounts is 166 million 644 thousand manats .
The bank's equity grew to nearly requirements of the Central Bank (48 million 821 thousand manats) with the amount of the authorized capital being 41.31 million manat.
Net profit in the first quarter amounted to 1 million 903.53 thousand manats.
Muganbank was formed in November 1992. Chairman of the Board is Elmir Hasanov . Shareholders of the bank are Elmir Mehdiyev (63.5 %) and three other individuals. - 17D-
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- Economics
- 27 May 2014 16:20
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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