Baku, Azerbaijan, Oct. 24
By Azad Hasanli - Trend:
The assets of the Azerbaijani branch of Bank Melli Iran OJSC have increased by 11.2 percent up to 85.2 million manat since early 2015, the balance sheet of the bank as of January-September 2015 said.
As of late 2014, the bank's assets amounted to 76.6 million manat.
According to the report, the loans given to the customers of the bank amounted to 9.8 million manat since early 2015. The bank issued loans in the amount of 5.7 million manat in 2014.
Some 45.5 percent in the structure of assets accounted for the funds given to the financial institutions in the amount of 38.77 million manat. Their volume has increased by 54.5 percent since early 2015.
As of September, the volume of funds invested by the bank in the real estate and equipment, amounted to 13.1 million manat.
In total, the bank's liabilities since early 2015 grew by 30.47 percent and reached 33.87 million manat.
Liabilities of the Bank Melli Iran before the financial institutions as of late September amounted to 31.66 million manat, having increased by 28.7 percent since the beginning of 2015.
In January-September 2015, the total amount of funds accumulated in the accounts of clients of the bank, has exceeded 2 million manat. For comparison, at the end of 2014, this figure amounted to 1.13 million manat.
On the results of the third quarter of 2015, the interest income of the bank totaled 2.17 million manat, while interest expense amounted to 22,400 manat.
Expenses for creation of reserves on assets in the first nine months of 2015 reached 2.4 million manat, commission expenses - 12,300 manat, administrative expenses - 934,000 manat. At the end of the reporting period, net profit of the bank amounted to 695,570 manat.
The authorized capital of the bank is 51.4 million manat.
Bank Melli Iran is the first national Iranian bank. The bank was established in 1927 by the order of the Majlis (Iranian parliament) and since then has consistently been one of the most influential Iranian banks.
Bank Melli Iran is now the largest commercial retail bank in Iran and in the Middle East with over 3,300 branches and 43,000 employees. Bank Melli Iran has 18 international branches and services in 11 countries. The bank's Baku branch was founded in 1993.
