16:53 - 4.11.2019

---

November 4, Fineko/abc.az. Muganbank has unveiled the financial results for Jan-Sept 2019.

ABC.AZ informs that Bank’s total revenues for the reported period amounted to AZN 43.286 million and total expenses AZN 40.299 million. Due to the fact that revenues exceed expenses, the Bank received an operating profit of AZN 2.987 million. But since the Bank allocated 11.24 million of the target reserve for possible losses, the Jan-Sept of this year was completed with net loss of AZN 8.25 million.

It should be noted that Bank's loss is decreasing. Muganbank’s loss amounted to AZN 13.26 million at the end of Q1 of 2019 and AZN 9.825 million at the end of Q2 of 2019.