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Azerbaijani Muganbank’s assets edge up

BAKU, Azerbaijan, Jan. 27

By Nazrin Israfilova – Trend:

The assets of Azerbaijan’s Muganbank increased in 2021, Trend reports referring to the bank’s financial report.

According to the report, this indicator reached 708.4 million manat ($416.7 million), up by 19.9 percent on annual basis.

Last year, the bank’s loan portfolio amounted to 401 million manat or $235.8 million (an increase of 19.4 percent compared to 2020). At the same time, consumer loans increased by 36.6 percent, settling at 29.6 million manat ($17.4 million).

Meanwhile, business loans equaled 263.8 million manat or $155.1 million (up by 29.8 percent year on year), and real estate loans – 107.5 million manat or $63.2 million (a decrease of 3.1 percent).

Total liabilities of the bank grew in 2021 by 23.1 percent, making up 616.4 million manat ($362.6 million). Deposits in the bank amounted to over 396.8 million manat or $233.4 million (rise of 42.4 percent), including deposits of the population – 280.8 million manat or $165.1 million (growth of 34.2 percent).

The bank’s own capital increased by 5.8 percent, reaching 91.9 million manat ($54 million), and the share capital – by 4.9 percent, up to 107.5 million manat ($63.2 million).

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