Muganbank reports about its financial position – Its deposits at other banks increased


January 28, Fineko/abc.az. Muganbank has published its 2019 financial results for 2019.

ABC.AZ reports that the Bank completed the past year with profit of AZN 1.967 million.

Compared with 2018, in 2019 Bank’s total assets grew by AZN 99.936 million up to AZN 660.836 million. At the end of 2018 Muganbank’s total assets amounted to AZN 560.9 million.

Last year the loans the Bank gave to the customers increased by AZN 5.39 million up to AZN 366.66 million. And Muganbank’s deposits placed in other banks more than doubled up to AZN 132.8 million.

In 2018 the amount of those deposits totaled AZN 61.69 million.

Over the past year Muganbank’s deposit portfolio also increased by 19.4% up to AZN 334.7 million by the end of 2019.

By Elmir Murad