16:56 - 10.10.2022

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October 10, Fineko/abc.az. The Baku branch of Bank Melli Iran completed 9 months (Jan-Sept) of 2022 with net profit of AZN 1.357 million.

ABC.AZ reports that the bank completed the same period of 2021 with net profit of AZN 963,854.

Thus, compared with 9 months of 2021, the net profit of the branch for Jan-Sept 2022 increased by AZN 393,366, or 40.8%.

The increase in net profit is linked not with lack of allocations for the creation of reserves for assets, but rather to the exemption from the reserve in the amount of AZN 315,077.

The interest income of the Baku branch of Bank Melli Iran for 9 months of last year fell by AZN 2.586 million, for 9 months of 2022 – by AZN 2.557 million. Premium and commission income decreased from AZN 140,000 to AZN 130,000.

When revaluing the currency position, the loss increased from AZN 55,000 to AZN 230,000.