Bank Melli Iran, UAE

Financial Result 2006 - 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, 2006
(In Thousand Arab Emirates Dirhams)


		Statutory	Retained	Cumulative changes in
	Capital	reserve	earnings	fair value	Total

At of December 31, 2004	385,000	68,729	113,308	3,036	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	-	-	156,298	(3,036)	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 of December 31, 2005	500,000	84,359	140,668	-	725,027
Net income for the year	-	-	212,082	-	212,082
Transferred to statutory reserve	-	21,208	(21,208)	-	-
Balance at December 31, 2006	500,000	105,567	331,542		937,109

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.