The JSC Muganbank branch network is expanding not only due to the capital, but also due to the offices in the country. Yesterday three new branches opened in Baku, Shamakhy and Agdjabedi.
According to the press release of this financial structure, now in possession of the bank there are 39 branches, 20 of which are in districts, and seven sub-branches. New branches of the bank will provide the public the whole range of banking services.
The first half of 2014 was the most fruitful time for the network expansion - 9 branches and 1 sub-branch opened.
JSC Muganbank formed in November 1992. The 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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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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