17:38 - 18.10.2023

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October 18, Fineko/abc.az. ATMs of Muğanbank OJSC throughout the country have stopped working since October 17.

ABC.AZ reports that it is currently possible to cash out funds through ATMs belonging to other banks.

The bank reported that the shutdown of ATMs is linked with the system update. It was noted that ATMs will resume operation from the weekend.

The bank added that the new decision suspended the issuance of an unsecured cash loan. Loans are given only in the form of pawn loans, cash loans secured by housing and pension loans. Cash loans secured by housing are given for apartments in Baku, Absheron and Sumgait.
According to the financial statements for Q3 of 2023, Muğanbank's cash and cash equivalents decreased by AZN 139.687 million. Thus, if as of January 1, 2023, the bank's cash and cash equivalents amounted to AZN 169.608 million, then as of October 1 of this year, the bank's cash and cash equivalents decreased to AZN 29.9 million.