BAKU, Azerbaijan, July 14
By Zeyni Jafarov - Trend:
The branch of the state-owned Bank Melli Iran in Azerbaijan’s Baku city completed the second quarter of 2021 with net profit worth 575,160 manat ($338,329), while profit worth 460,550 manat ($270,911) was observed a year earlier, Trend reports on July 13 citing the financial report of the bank.
In accordance with the bank’s report, the net interest income of the Baku branch of Bank Melli Iran amounted to 1.5 million manat $882,352 (increase of 30.3 percent for the year) and was formed through interest income in the amount of 1.7 million manat ($1 million) and interest expenses in the amount of 161,050 manat ($94,735).
The authorized capital has not changed since the beginning of 2021 and amounted to 73.6 million manat ($43.3 million). The uncovered loss of the bank is estimated at 35.6 million manat ($20.9 million).
The total capital of the bank for the reporting period increased by 1.5 percent since the beginning of the year, amounting to 37.9 million manat ($22.3 million).
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