Muganbank Increased Last Year
The assets of Muganbank OJSC rose to 564.33 million manats (+ 32.9%) by the end of 2015.
Slightly more (+ 37.4%) have become its liabilities, 511 million 634 thousand manats, and the loan portfolio was 381,120,000 manats (+31%). Its deposit accounts accumulated 256 million 984 thousand manats (+ 41.7%).
Last year, the capital slightly increased to 52 million 696 thousand manats (+0.8%), and the authorized capital was 50 million manats (+10.4%). The bank had a net profit of 437.45 thousand manats.
Muganbank OJSC has been operating since November 1992. Its shareholders are four individuals. --17D-
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- Politics
- 27 January 2016 14:05
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- 27 January 2016 14:14
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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