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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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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