BAKU, Azerbaijan, October 9. The net profit of the Baku branch of Bank Melli Iran amounted to 2.8 million manat ($1.6 million) as of September 30, 2023, Trend reports.
Net profit amounted to 1.4 million manat ($823,529) as of September 30, 2022.
In general, net profit increased by 2.05 times year-on-year.
According to the bank's financial report, interest income amounted to 2.2 million manat, or $1.3 million (a decrease of 14.9 percent over the year), and fees and commission income were 50,400 manat ($29,647).
In addition, the interest expenses of the branch amounted to 28,870 manat ($16,982), fees and commission expenses were 39,770 manat ($23,394), and administrative expenses were 1.47 million manat ($864,705).
The profit of the Baku branch of Bank Melli Iran before taxes amounted to 2.8 million manat ($1.6 million).
In general, total assets amounted to 79.6 million manat ($46.8 million), total capital was 40.1 million manat ($23.6 million), and total liabilities were 39.5 million manat ($23.2 million).
The net profit of the Baku branch of Bank Melli Iran amounted to 1.9 million manat ($1.1 million) by the end of 2022.
