Mugan Bank concluded the year 2016 with a loss of AZN 14 million 5 thousand.
The bank's assets in 2016 compared to 2015 decreased by 93 million 506 thousand manat or 16.5% to 470 million 824 thousand manat.
The bank's liabilities during the reporting period decreased to 407 million 539 thousand manat (-104 million 95 thousand manat or -20.3%).
During the specified time Mugan Bank’s capital reached 63 million 285 thousand manat (an increase of 10 million 589 thousand manat or 20%).
During the year, the bank increased its authorized capital from AZN 55 million to AZN 75 million. -----71D
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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