Total liabilities of Iranian bank's branch in Azerbaijan drop

Finance Materials 8 January 2021 16:49 (UTC +04:00)
Total liabilities of Iranian bank's branch in Azerbaijan drop

BAKU, Azerbaijan, Jan. 8

By Zeyni Jafarov – Trend:

The total liabilities of the branch of the state-owned Iranian ‘Bank Melli Iran’ bank in Baku dropped by 9.3 percent in 2020, compared to 2019, Trend reports citing the bank's balance sheet.

According to the balance sheet, the total liabilities of the bank decreased by 5.8 million manat to 56.3 million manat ($33.1 million).

“In the structure of liabilities, 46.4 percent or 26.1 million manat ($15.3 million) fell on liabilities to financial institutions, which decreased by 17.5 percent over the year. The volume of client accounts amounted to 10.7 million manat ($6.29 million), decreasing on an annualized basis by 10.4 percent. Liabilities for a subordinated loan amounted to 18.8 million manat ($11 million), increasing in annual circulation by 9.7 percent. Deferred income tax liabilities amounted to 318,560 manat ($187,380), having increased by 2.8 percent compared to 2019. Other liabilities amounted to 340,400 manat ($200,235),” said the report.

“The share capital has not changed since the beginning of 2020 and amounted to 73.6 million manat ($43.2 million). The uncovered loss of the bank amounted to 36.2 million manat ($21.2 million).

The bank’s total capital increased by 2.1 percent during the reporting period, reaching 37.4 million manat ($22 million), while at the end of 2019 - 36.6 million manat ($21.5 million).

(1 USD = 1.7 AZN on Jan. 8)