CBA: Closure of Mugan Bank poses no threat to financial stability

The share of Mugan Bank OJSC, whose license was revoked by the Central Bank of Azerbaijan (CBA), is 1.4% in the assets of the country’s banking sector, 2% in the loan portfolio, and 1.3% in liabilities, Report informs referring to the CBA statement.

"The revocation of the bank’s license does not pose any threat to the financial stability and financial sustainability of the sector," the CBA noted.