BAKU, Azerbaijan, Jan. 11
By Fidan Babayeva – Trend:
The branch of state Bank Melli Iran in Baku ended 2020 with net profit of 784,000 manat ($461,180), while the loss worth 16.5 million manat ($9.7 million) was observed in late 2019, Trend reports referring to the bank’s financial report.
In accordance with the bank report, net interest income made up 2.5 million manat ($1.47 million) having decreased by 7.4 percent and was formed through interest income equaling 2.75 million manat ($1.62 million) with a decrease of 3 percent for the year and interest expenses in the amount of 252,000 manat ($148,240).
The bank’s share capital remained unchanged since the early 2020, standing at 73.6 million manat ($43.3 million). Non-covered loss of the bank made up 36.2 million manat ($21.3 million).
The total capital of the bank had grown by 2.1 percent during the reporting period, reaching 37.4 million manat ($22 million) against 36.6 million manat ($21.5 million) as of the late 2019.
(1 USD = 1.7 AZN on Jan. 9)
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