Baku branch of Bank Melli Iran reduces lending volume by more than third
Azerbaijan, Baku, April 28 / Trend A.Hasanov /
Assets of the Baku branch of Bank Melli Iran following activities in 2011 totaled 73.67 million manat against 53.39 million manat at the beginning of last year, increasing by 37.9 percent, the bank's balance sheet said on Saturday.
The financial statement of the bank was confirmed by an independent auditor - LLC "Best Audit".
In 2011 the bank received from other credit institutions 39.83 million manat, which is almost twice as higher as the figure of the year before last year. Total amount of loans and advances to customers is 4.2 million manat, down by 37.1 percent.
Total liabilities of the bank increased for the year by 30.2 percent, amounting to 51.84 million manat. Of these, Bank Melli Iran liabilities to banks and government agencies at the end of 2011 amounted to 48.99 million manat, to the client accounts - 2.79 million manat, and other liabilities - 47,190 manat.
The total capital of the bank following 2011 amounted to 21.84 million manat, up from 2010 by 60.6 percent. The authorized capital amounted to 22.408 million manat (with growth of 53.17 per cent). At year-end retained earnings of the bank amounted to 581,380 manat (a-1.8 time decrease).
Bank Melli Iran is the first national bank of Iran. It was established in 1927 by decree of the Majlis (Iranian parliament), and since then has consistently been one of the most influential Iranian banks.
Bank Melli Iran is today the largest commercial bank in Iran and the Middle East with more than 3,300 offices and 43,000 employees. The Bank has 18 international branch offices and service centers in 11 countries. Baku branch of Bank Melli Iran was established in 1993.
The official exchange rate is 0.7862 AZN to $1 on April 28.