Finance

Finance

Baku branch of Melli Iran Bank gets decline in deposits

14 February 2012 14:56 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, 2012, the assets of Baku branch of Bank Melli Iran stood at AZN 73.768 mln, up 38% from year earlier.

Branch says loan portfolio decreased by 13% to AZN 8.870 mln, deposit portfolio dropped 36% to AZN 2.784 mln. Total capital rose 60% to AZN 21.930 mln, as well authorized capital increased by 53% to AZN 22.409 mln.

Total income slipped 32% to AZN 2.964 mln, as well interest income slid 38% to AZN 2.559 mln, non-interest income surged 69% to AZN 405,000. Along with this, total expenditure, dropped 63% to AZN 2.003 mln, including interest expenditures fell 69% to AZN 458,000, non-interest expenditures decreased by 61% to AZN 1.546 mln. Consequently, profit made AZN 960,000.

Note that, bankâ€™s loss in 2010 made AZN 1.059 mln. Interest profit declined 21% to AZN 2.101 mln, non-interest loss reduced 69% to AZN 1.141 mln.

Baku branch of Melli Iran Bank has been in operation since 1994.