The assets of the local Muganbank at the end of last year reached 424 million 526 thousand manat (+ 26.9%).
Its loan portfolio as of 1 January of this year amounted to 290 million 832 thousand manat (+ 32.2%) at a much slower accumulation of deposit accounts - 181 million 317 thousand manat (+ 19.3%).
In the reporting period, the bank's liabilities were at 372,270,000 manat (+ 29.1%) with a net profit of 4 million 697.67 thousand manat.
The equity capital as of 1 January of this year amounted to 52 million 252 thousand manat (+ 11.4%) and the authorized capital was 45 million 306 thousand manat (+ 9.7% per year).
JSC Muganbank was formed in November 1992. Elmir Hasanov is the Chairman of the Board. Shareholders of the bank are Elmir Mehdiyev (63.5%) and three other individuals. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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