Liabilities of Bank Melli Iran in Baku increase

Finance Materials 17 January 2020 14:52 (UTC +04:00)
Liabilities of Bank Melli Iran in Baku increase

BAKU, Azerbaijan, Jan. 17

By Eldar Janashvili - Trend:

The branch of Bank Melli Iran in Baku increased its total liabilities by 8.4 percent at the end of 2019 compared to the beginning of the year, Trend reports Jan. 17 referring to the bank’s balance sheet.

The total liabilities of the bank’s branch increased by 4.8 million manat ($2.8 million) to 62.1 million manat ($36.5 million), according to the report.

In the structure of liabilities, slightly more than half, 51 percent, accounts for liabilities to financial institutions, which increased by 2.7 percent. The volume of customer accounts amounted to 11.9 million manat ($7 million), increasing by 41.3 percent year-on-year.

Subordinated loan liabilities amounted to 17,131 manat ($10,077), slightly decreasing by 4.4 percent. Deferred income tax liabilities amounted to 310,000 manat ($182,352), decreasing by 4.4 percent since the beginning of the year. Other liabilities amounted to 997.4 million manat ($586.7 million).

The share capital of the bank’s branch hasn’t changed since the beginning of last year and amounted to 73.6 million manat ($43.2 million). The uncovered loss amounted to 37 million manat ($21.7 million), an increase of almost 81 percent. Total revalued reserves amounted to 2.2 million manat ($1.3 million, or a decrease of 66.4 percent).

The total capital of the bank’s branch for the reporting period decreased by 31 percent, amounting to 36.6 million manat ($21.5 million) compared to 53.1 million manat ($31.2 million) from the beginning of the year.

($1= 1.7 manat on Jan. 17)