BAKU, Azerbaijan, Oct. 16
By Fidan Babayeva - Trend:
The total assets of the state-owned Iranian Bank Melli's branch in Azerbaijan decreased by 12.6 percent from January through September 2020 compared to the same period of 2019, Trend reports citing the bank's balance sheet.
According to the report, total assets of the bank decreased to 86.2 million manat ($50.7 million).
In the structure of assets, a significant part is occupied by cash and correspondent accounts of other banks, the total volume of which almost didn't change on an annualized basis, staying equal to 48.4 million manat ($28.4 million).
“In the reporting period, the volume of investments in securities amounted to 21.2 million manat ($12.4 million), decreasing by 6.7 percent compared to the end of 2019. The loan portfolio of the Iranian bank increased by almost 28.3 percent, amounting to 5.37 million manat ($3.17 million),” said the report.
The bank's capital as of late September 2020 amounted to 37.4 million manat ($22 million), increasing by 2.5 percent, the authorized capital - 73.6 million manat ($43.2 million).
Bank Melli Iran's branch has been operating in Azerbaijan since 1993.
(1 USD = 1.7 manat on Oct. 16)
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