Bank Melli Iran, UAE

Financial Result 2005 - Statement of Changes in Equity

Balance Sheet

Income Statement

Statement of Changes in Equity


Bank Melli Iran
United Arab Emirates Branches

Statement of Changes in Equity
For the year ended December 31, 2005
(In Thousand Arab Emirates Dirhams)

	Capital	Statutory reserve	Cumulative changes in fair value	Retained earnings	Total
At December 3l, 2003	300,000	56,139	-	91,194	447,333

Increase in capital	85,000	-	-	-	85,000

Cumulative changes in fair value	-	-	3,036	-	3,036

Net income for the year	-	-	-	125,898	125,898

Transferred to statutory reserve	-	12,590	-	(12,590)	-

Profits transferred to Head Office	-	-	-	(91,194)	(91,194)

At December31, 2004	385,000	68,729	3,036	113,308	570,073

Fair value adjustments	-	-	(3,036)	-	(3,036)

Charges recognized directly in equity	-	-	(3,036)	-	(3,036)

Net income for the year	-	-	-	156,298	156,298

Total income for the year	-	-	(3,036)	156,298	153,262

Capital introduced	115,000	-	-	-	115,000

Transferred to statutory reserve	-	15,630	-	(15,630)	-

Profits transferred to Head Office	-	-	-	(113,308)	(113,308)

At December 31, 2005	500,000	84,359	-	140,668	725,027

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.