The Baku branch of Bank Melli Iran ended 2021 with 1.96 million manats in net loss, while it ended 2020 with a profit of 784,000 manats, Report informs, citing the bank.
The incomes increased by 16% to 4.02 million manats, expenditures dropped by 2.9% to 2.242 million manats, allocations for special reserves went up 10.2-fold to 3.733 million manats, profit tax fell by 2.2 times to 4,000 manats.
As of January 1, 2022, the assets stood at 86.841 million manats, 7.3% less than a year earlier. Of this, 9.845 million was loans to customers. The loan portfolio extended by 88.5% year-on-year.
Liabilities slid 8.7% to 51.422 million manats, deposit portfolio surged 0.3% to 10.733 million manats, net worth slipped 5.2% to 35.419 million manats.
The Baku branch of Bank Melli Iran has been in operation since 1993. The authorized capital is 73.611 million manats.