Bank Melli Iran in Baku ends year with loss

Bank Melli Iran in Baku ends year with loss

BAKU, Azerbaijan, Jan. 18

By Eldar Janshvili – Trend:

The branch of state Bank Melli Iran in Baku ended 2019 with net loss of 16.5 million manat ($9.7 million), while the profit worth 2.1 million manat ($1.2 million) was observed in late 2018, Trend reports referring to the bank’s financial report.

Since the beginning of 2019, the bank has lost more than 18 million manat (over $10 million).

In accordance with the bank report, net interest income amounted to 2.7 million ($1.5 million) having decreased by 1.5 percent and was formed through interest income in the amount of 2.8 million manat ($1.6 million) with a decrease by one percent for the year and interest expenses in the amount of 121,800 manat ($71,647), which shows an increase of 8.4 percent.

The bank’s non-interest income amounted to 880,500 manat ($517,941) haveing decreased by 23.8 percent since the beginning of 2019. Non-interest expenses at the end of September 2019 amounted to 20.1 million manat ($11.8 million) showing a decrease of 11.5 times. This resulted in operating loss of 19.2 million manat ($11.2 million), which has grown by more than 30 times since the beginning of 2019.

(1 USD = 1.7 AZN on Jan. 18)

---

Follow the author on Twitter: @eldarjanashvili

Several low-cost airlines resume flights to Georgia
Several low-cost airlines resume flights to Georgia
Several containers with cargo to pass through Azerbaijan along BTK railway - ADY Container
Several containers with cargo to pass through Azerbaijan along BTK railway - ADY Container
Azerbaijan discloses number of imported cars in 2020
Azerbaijan discloses number of imported cars in 2020
Loading Bars
Latest
New reality created in South Caucasus - head of department at Istanbul Kadir Has University
Demining of Azerbaijani lands complicated by Armenia’s refusal to provide maps of minefields - Expert
Long-awaited end to Karabakh conflict creates new opportunities - Former US ambassador to Azerbaijan
Azerbaijan shows footage from Kechikli village of Zangilan district (VIDEO)
Azerbaijan interested in strengthening export and investment potential with Argentina
President Aliyev gives speech at virtual Summit of Economic Cooperation Organization
MFA shares potential sectors of Lithuanian investment in Georgia
Georgian kiwi enters Japanese market
Azerbaijan's ENGINET company talks unique solutions for local market
Kazakh gold extracting venture opens tender to buy spares
Kazakhstan intends to attract funds to improve energy efficiency of facilities
Volume of food products sold in Baku's trade network increases
Georgia shows progress in curbing coronavirus cases - WHO
Azerbaijani Finance Ministry allocates funds for maintenance services
Restaurant business subsidizing program launched in Tbilisi
UK's Johnson says Brexit problems in Northern Ireland are solvable
Supporting Member Country ECAs: ICIEC endorse supportive reinsurance treaty with JLGC
Uztekstilprom, French Proparco talk profitable financing for textile projects
Georgian consulting company launching project for female entrepreneurs
Georgian wine export to US down
Russia and Azerbaijan lead in import of electricity to Georgia
Several low-cost airlines resume flights to Georgia
Azerbaijan-Belarus foreign trade operations for Jan. 2021 revealed
Azerbaijan confirms 124 more COVID-19 recoveries
Kazakhstan increasing control over development of oil and gas fields
State property privatization plan in Georgia surpasses initial plan
Several containers with cargo to pass through Azerbaijan along BTK railway - ADY Container
Rehabilitation centers can be established in Azerbaijan's liberated lands - Agency
Azerbaijan discloses number of imported cars in 2020
Uzbekistan’s 1M2021 profit for banks increases
Germany approves AstraZeneca for over-65s
New plant to be commissioned in Baku
Azerbaijan to receive Astra Zeneca vaccine via COVAX mechanism - WHO
Turkmengas opens again tender for operation of video surveillance system
Uzbekistan, Belarus agree to expand range of mutually supplied agricultural products
Uzbek currency rates for March 5
Italian Eni launches implementation of its solar energy project in Kazakhstan
Ensuring security in Karabakh our top priority - Turkish president
Georgia eyes to select new investor for Anaklia port
Creation of Kazakhstan-Azerbaijan Business Council under discussion
Covaxin demonstrates prowess of Atmanirbhar Bharat, says ICMR chief
India, Philippines sign key defence pact, set ball rolling for BrahMos missile sale
Turkey supports Georgia in deepening relations with Euro-Atlantic structures
Moldova Post plans to develop co-op with Turkmenistan in field of postal services
Georgia preparing for issuance of new Eurobond
Europe reviewing Russia's COVID-19 vaccine
German companies interested in funding Azerbaijan's railway projects
Uzbekistan to launch production of electric scooters in Fergana region
Azerbaijani State Customs Committee chairman names most-imported products for 2020
India, Norway to work together in marine spatial planning
PM Modi may launch trading points, connectivity projects in Dhaka
India to fund NRs 246 million for reconstruction of Cultural Heritages in Nepal
Kazakhstan, Tajikistan resuming mutual air traffic
Several ships and related facilities to be launched in Iranian ports
Iran reveals COVID-19 data for March 4
Azerbaijani FM’s letter to UN sec-gen disseminated as document of organization
Kazakhstan increases imports of Iran-made goods
Georgia plans to create new economic development plan
Baku Statistical Department discloses Jan. 2021 volume of paid services to citizens
Electricity production in Georgia to increase after Namakhvani HPP is ready
Uzbekistan reveals volume of industrial production for Jan. 2021
Students and graduates of Baku Higher Oil School shown high results in entrance exams for master's degree programs
Azerbaijani PASHA Bank eyes attracting IT companies to implement joint projects
Azerbaijani banks' demand at foreign exchange auction decrease
Iran’s Bahar Azadi gold coin price fell
Azerbaijan, Turkey to hold joint military exercises (PHOTO)
Turkish foreign minister to visit Uzbekistan
Volume of cargo loaded, unloaded in Iran’s Dayyer port revealed
Kazakhstan’s Ulba Metallurgical Plant announces tender to buy accumulators
Moldova Post talks details of postal communication resumption with Turkmenistan
Buta Airways to launch ticket sales for Baku-Istanbul-Baku Flights
Iran Khodro Company expects to meet forecasts
Azerbaijani IT company seeks to promote smart home systems abroad
Iran declares data of exports, imports via Astara port
Several mines produced by Armenia found in Azerbaijan’s Aghdam district - Trend TV reports
Azerbaijan releases 2M2021 data on transactions of local investment companies'
EU delegation's head talks interest in raising Azerbaijani regions' financial inclusion
Most of construction work in Baku during Jan. 2021 carried out by private companies
BlackRock builds 5% stake in Toshiba, becomes third largest shareholder
Iran discloses volume of rapeseed to be harvested
Azerbaijan, Iran negotiating to open customs post on border, in Khudaferin village
Uniper sees increase in generation capacity
EU invests in micro-entrepreneurship dev't in Azerbaijani districts
Azerbaijan gives update on number of COVID-19 vaccinated citizens
Turkmenistan to expand production of Balkanabat iodine plant
Azerbaijan expects creating new broadcasting opportunities for Internet TV, radio channels
Belarus excludes Azerbaijan from list of countries with heavy COVID-19 situation
Israeli identity validation co Identiq raises $47m
Kazakhstan boosts trade turnover with India despite COVID-19
Industrial oil inflow received at Turkmen field
Exxon and Macquarie in $11.7 billion U.S. lawsuit over gas contract
China boosts steel imports from Turkey
Georgia reports 133 new cases of coronavirus for March 4
Azerbaijan considers joint military exercises with Pakistan - President Aliyev
Azerbaijan wants peace and is promoting peace today - President Aliyev
President Aliyev: We hope Pakistan will join existing, emerging transport routes Azerbaijan
Pakistan one of handful of countries that does not have diplomatic relations with Armenia - Azerbaijani president
From first day of war, Pakistan shown solidarity, support for Azerbaijan - President Aliyev
EU eyes to foster clean energy transition and decarbonisation in Georgia
Kazakhstan records growth in volume of payment services
All news