BAKU, Azerbaijan, July 10. The net profit of the Baku branch of Bank Melli Iran as of June 30, 2023, amounted to 2 million manat ($1.1 million), Trend reports.
Meanwhile, the net profit as of June 30, 2022, amounted to 805,720 manat ($473,952).
Thus, the net profit increased by 2.58 times year-on-year.
According to the bank's financial report, interest income amounted to 1.4 million manat or $823,529 (a decrease of 6.32 percent over the year), fees and commission income - 46,761 manat ($27,506), income from foreign exchange transactions – 120,910 manat ($71,123).
The interest expenses of the branch amounted to 19,020 manat ($11,188), fees and commission expenses – 36,470 manat ($21,452), administrative expenses – 953.350 manat ($560,793), deductions for the creation of reserves on assets – 1.3 million manat ($764,705).
The profit of the Baku branch of Bank Melli Iran before taxes amounted to 2 million manat ($1.1 million).
Total assets amounted to 77million manat ($45.2 million), total capital - 39.3 million manat ($23.1 million), total liabilities - 37.6 million manat ($22.1 million).
Meanwhile, the net profit of the Baku branch of Bank Melli Iran by the end of 2022 amounted to 1.8 million manat ($1 million).