S&P: Muganbank will end 2017 on loss

S&P: Muganbank will end 2017 on loss
  • Clock-gray 15:32
  • calendar-gray 21 June 2017

Muganbank’s capitalization faced serious pressure after the bank ended 2016 on loss of AZN 12 million, APA-Economics reports citing to "Standard & Poor`s" (S&P).

 

According to forecast of the agency, bank’s capitalization will face pressure in the next two years: “Moreover, the bank will end 2017 on loss too”.

 

Along with this, S&P appreciates support provided by shareholders to the bank last year. The shareholders increased bank’s authorized capital AZN 25 million in 2016. 

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