Muganbank assets increased by 2%

Baku. 16 November. REPORT.AZ/ Muganbank OJSC financial report on first nine months of this year reveals AZN 484.725 million total assets on October 1, which is 2.3% more in comparison with the same period of previous year, Report informs referring to the bank's report.

64.2% or AZN 311.07 million of total assets are loans issued to clients, which is 5.8% lower in annual comparison.

Share of non-performing loans in the portfolio rose from 6.51% in previous year to 9.95% or AZN 30.951 million. Annual comparison reveals 43.9% rise in non-performing loans.

Bank’s obligations amount AZN 426.938 million with 1.7% rise, while total capital increased by 6.9% to reach AZN 57.787 million.

Here are some financial figures reflecting Muganbank’s operations in January/September of this year:

-Interest incomes – AZN 46.239 million (up 0.05%);

-Interest expenses – AZN 21.722 million (up 10.9%);

-Non-interest incomes – AZN 5.657 million (down 66.5%)

-Non-interest expenses – AZN 1.809 million (down 88.6%)

Net operating income of the bank was AZN 28.365 million, which is 2.5% higher in annual comparison.