Azerbaijan to consider liquidation of Bank Melli Iran’s license

Director General of the Central Bank of Azerbaijan (CBA) Togrul Aliyev has said that the CBA is ready to consider the liquidation of the license of Bank Melli Iran.

Aliyev was answering a question about the possibility of closing a branch of the Iranian bank in Azerbaijan, Trend reports.

He said that such an appeal has not been made.

"We are considering the liquidation of a banking license on a voluntary basis, or in case of gross and repeated violation of the law," Aliyev added.

The net profit of the Baku branch of Bank Melli Iran reached 1.866 million manats ($1.097 million) in 2022.

Interest income reached 3.476 million manats or $2.044 million (an increase of 0.99 per cent over the year), fees and commission income – 175,850 manats ($103,441), income from foreign exchange transactions – 185,290 manats ($108,994).