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-
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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