Profit of Iran National Bank's Baku branch falls by 13%

The Baku branch of Iran National Bank closed the first quarter of 2026 with a profit of 1.328 million manat, 13.1% lower compared to the same period last year, Report informs, citing the branch's financial statements.

In January–March 2026, the bank's revenues amounted to 1.314 million manat (10.7% higher year-on-year), expenses totaled 561,000 manat (16.6% higher), and savings from provisions for specific reserves reached 575,000 manat (6.9% higher). The branch did not pay profit tax.

As of April 1 this year, the bank's assets stood at 121.08 million manat, up 0.9% year-on-year. Of this, 2.066 million manat accounted for net loans issued to customers. Over the past year, the Baku branch's loan portfolio grew by 71.5%.

During the reporting period, the bank's liabilities decreased by 4.5% to 66.399 million manat, while the deposit portfolio increased by 6.1% to 37.401 million manat, and balance sheet capital rose by 8.3% to 54.681 million manat.

The Baku branch of Iran National Bank has been operating since 1993. Its charter capital is 73.611 million manat.

(1.7 AZN = 1 USD on April 10)