BAKU, Azerbaijan, April 9
By Zeyni Jafarov - Trend:
The branch of the state-owned Bank Melli Iran in Azerbaijan’s Baku city completed the first quarter of 2021 with a net profit worth 614,400 manat ($361,411), while the profit worth 234,200 manat ($137,764) was observed in the same period of last year, Trend reports citing the financial report of the bank.
In accordance with the bank report, the net interest income of Bank Melli Iran in Baku amounted to 708,600 manat that’s $416,823 (an increase of 17.7 percent for the year) and was formed through the interest income in the amount of 784,400 manat ($461,411) and interest expenses in the amount of 75,800 manat ($44,588).
In accordance with the report, the authorized capital has not changed since the beginning of 2021 and amounted to 73.6 million manat ($43.3 million). The uncovered loss of the bank is estimated at 35.6 million manat ($20.9 million).
The total capital of the bank during the reporting period increased by 3.2 percent, amounting to 38 million manat ($22.3 million) compared to 36.8 million manat ($21.6 million) in the first quarter of 2020.
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