Bank Melli Iran, UAE

Financial Result 2008 - 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, 2008
(In Thousand Arab Emirates Dirhams)


	Assigned	Statutory	Retained
	Capital	reserve	earnings	Total

Balance at 1 January 2007	500,000	105,567	331,542	937,109
Net income for the year	-	-	264,555	264,555
Transferred to statutory reserve	-	26,456	(26,456)	-
Transferred to Head Office	-	-	(140,668)	(140,668)
	___________	___________	___________	___________
Balance at 31 December 2007	500,000	132,023	428,973	1,060,996
Transfer of subordinated loan to assigned capital	140,000	-	-	140,000
Transfer of retained earnings	160,000	-	(160,000)	-
Net income for the year	-	-	254,032	254,032
Transferred to statutory reserve	-	25,404	(25,404)	-
Transferred to Head Office	-	-	(268,973)	(268,973)
	___________	___________	___________	___________
Balance at December 31, 2008	800,3000	157,427	228,628	1,186,055

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.