Bank Melli Iran, UAE

Financial Result 2003 - Balance Sheet

Balance Sheet

Income Statement

Statement of Changes in Equity


Bank Melli Iran
United Arab Emirates Branches

Balance Sheet
As of December 31, 2003
(In Thousand Arab Emirates Dirhams)

	2003	2002
ASSETS
Cash and balances with UAE Central Bank	548,114	497,844
Due from Head Office and branches abroad	462,329	341,423
Due from banks abroad	248,988	117,638
Due from Iranian banks	505,213	149,619
Due from banks in the U.A.E.	478,013	748,733
Loans and advances, net	1,176,853	1,376,984
Other assets, net	13,749	36,131
Property and equipment, net	622	684

Total Assets	3,433,881	3,269,056

LIABILITIES AND EQUITY

Liabilities
Customers' deposits	2,015,919	1,952,896
Due to Head Office and branches abroad	746,244	780,423
Due to banks abroad	168,348	60,121
Due to banks in the U.A.E.	776	517
Other liabilities	55,261	53,660

Total liabilities	2,986,548	2,847,617

Equity
Capital	300,000	300,000
Statutory reserve	56,139	46,006
Retained earnings	91,194	75,433

Total Equity	447,333	421,439

Total Liabilities and Equity	3,433,881	3,269,056

Bank Melli Iran is the largest bank of Iran with over 3200 branches globally. Bank Melli Iran - U.A.E operations comprise of 7 branches located in Deira Dubai, Bur Dubai, Abu Dhabi, Al Ain , Sharjah, Fujairah and Ras Al Kaimah. The pay office is located in the Iranian hospital in Satwa. The Regional office is located in Dubai.