Finance

Home page

Finance

Profit of Iranian bank's Baku branch drops by nearly 13%

10 October 2025 14:27 (UTC +04:00)

In the first nine months of this year, the profit of the Baku branch of Bank Melli Iran decreased by nearly 13%, APA-Economics reports.

The branch's net profit for January-September 2025 amounted to 4.38 million manat. This is 12.8% or 645 thousand manat less than the same period last year (for 9 months of 2024 - 5.02 million manat).

During the 9 months of the current year, the branch's interest income amounted to 4.30 million manat, and there were no interest expenses. In other words, the branch's net interest income increased by 15.4% over the past year to 4.30 million manat.

The bank's allocations to reserves on assets amounted to 1.21 million manat, which is 51% less than the same period last year (2.47 million manat in 2024). In addition, 25.8 thousand manats of income were received from foreign exchange operations in 2025. Other income amounted to 3.8 thousand manats, and administrative expenses amounted to 1.26 million manats.

The lifting of restrictions on some operations of the branch by the Central Bank had a positive impact on operations. Thus, as of September 30, 2025, the volume of loans granted by the bank to customers amounted to 2.23 million manats, which is a 49% increase compared to the end of last year. (The end of 2024 - 1.5 million manats).

On the same date, liabilities on customer accounts amounted to 35.63 million manats, which is an increase of 0.1%.

The total assets of the branch increased by 1.9% to 121.33 million manats as of October 1, and its total capital increased by 8.9% to 53.32 million manats. On the contrary, total liabilities decreased by 2.7% to 68.01 million manat.