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Note:
The material and information contained on this Web Site is provided for general information only and should not be used as a basis for making business decisions. Any advice or information received via this Web Site should not be relied upon without consulting primary or more accurate or more up-to-date sources of information or specific professional advice. You are recommended to obtain such professional advice where appropriate. Geographic, political, economic, statistical, financial and exchange rate data is presented in certain cases in approximate or summary or simplified form and may change over time. Reliance has been placed by the editors on certain external statistical data which, though believed to be correct, may not in fact be accurate. Bank Refah accepts no liability for any loss or damage arising directly or indirectly from action taken, or not taken, in reliance on material or information contained on this web site.
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Financial Statements
On March 20,2001
| (FIGURES IN MILLION
I.R. RIALS) |
ASSETS
|
20.3.2000
|
20.3.2001
|
|
Cash and Coins |
56,743 |
91,724 |
|
Dues From Central Bank of Iran |
1,377,250 |
1,890,291 |
|
Dues From Other Banks and Credit Institutes |
364,623 |
833,715 |
|
Granted Facilities and Dues From Government |
621,567 |
604,824 |
|
Granted Facilities and Dues From Private Section |
3,589,805 |
4,706,780 |
|
Participation Certificates and Other Bonds |
69,155 |
12,680 |
|
Partnership and Investment |
36,931 |
59,281 |
|
Statutory Assets |
303,392 |
537,390 |
|
Other Assets |
337,575 |
484,008 |
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|
|
Total Assets |
6,757,041 |
9,220,693 |
| |
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|
|
Customers' Undertakings Under L/Cs |
444,040 |
627,033 |
|
Customers' Undertakings Under L/Gs |
123,845 |
323,552 |
|
Other Undertakings |
16 |
16 |
|
Managed Funds and Others |
743,754 |
854,168 |
| |
|
|
|
Total Customers' Undertakings |
1,311,655 |
1,804,769 |
Liabilities
|
20.3.2000
|
20.3.2001
|
|
Due to Central Bank of Iran |
465,198 |
780,824 |
|
Due From Other Banks and Credit Institutes |
12,022 |
12,345 |
|
Sight Deposits |
2,785,916 |
4,577,417 |
|
Saving Deposits |
405,190 |
675,905 |
|
Time Investment Deposits |
1,598,252 |
1,258,543 |
|
Other Deposits |
332,740 |
426,051 |
|
Reserves and Other Liabilities |
438,226 |
716,222 |
|
Items in Transit |
607,056 |
132,182 |
|
Registered Share Capital |
95,000 |
95,000 |
|
Incresed Fund of Capitals |
- |
500,000 |
|
Reserves |
21,659 |
50,359 |
|
Accumulated Profit (Loss) |
8 |
71 |
|
Saving Credit Capital Cost |
(4,226) |
(4,226) |
|
Total Liabilities and Shareholders' Rights |
6,757,041 |
9,220,693 |
| |
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|
|
Bank's Undertakings Under L/Cs |
444,040 |
627,033 |
|
Bank's Undertakings Under L/Gs |
123,845 |
323,552 |
|
Other Undertakings |
16 |
16 |
|
Managed Funds and Others |
743,754 |
854,168 |
|
Total Bank's Undertakings |
1,311,655 |
1,804,769 |
|
20.3.2000 corresponds to
29.12.1378 and 20.3.2001 corresponds to 29.12.1379 in the Iranian
Calendar
|
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For Fiscal Year Ended in March 20,2001
| (FIGURES IN MILLION
I.R. RIALS) |
|
1999-2000
|
2000-2001
|
|
Interest From Facilities |
409,025 |
748,052 |
|
Interest From Deposits and Investment |
22,067 |
24,204 |
|
Received Interest |
431,092 |
772,256 |
|
Paid Interest |
194,704 |
322,761 |
|
Cost of Qarz-al-Hassaneh Awards |
5,714 |
10,287 |
|
Total of Paid Interest and Granted Awards |
200,419 |
333,048 |
|
Difference of Recieved and Paid Interest |
230,673 |
439,208 |
|
Expence of Doubtful Claims |
40,119 |
25,493 |
|
Net Income (Cost) From Interest |
190,554 |
413,715 |
|
Net Received and Paid Fees |
26,083 |
42,394 |
|
Balance of Foreign Exchange Transaction |
(15,209) |
7,418 |
|
Other Incomes |
6,813 |
35,744 |
|
Other Costs |
(140,020) |
(260,473) |
|
Amortization Expenses |
(24,592) |
(47,433) |
|
Cost of Project Value Reduction |
- |
(31) |
|
Pre-Tax Profit (Loss) |
58,823 |
191,334 |
|
0.5% Housing Rights in Deprived Region |
(294) |
(957) |
|
Tax |
(31,224) |
(112,414) |
|
Net Profit (Loss) |
27,305 |
77,963 |
|
20.3.2000 corresponds to
29.12.1378 and 20.3.2001 corresponds to 29.12.1379 in the Iranian
Calendar
|
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On March 20,2001
| (FIGURES IN MILLION
I.R. RIALS) |
|
2000
|
2001
|
|
Net Cash From Operational Activities |
89,301 |
(108,588) |
|
Interest on Received Shares |
220 |
189 |
|
Paid Interest on Shares |
(1,479) |
(620) |
|
Net Cash Output From Investment and Paid Interest for Financing
|
(1,259) |
(431) |
|
Tax on Paid Income |
(25,840) |
_ |
|
Paid Funds for Direct Investment and Legal Partnership |
_ |
(755) |
|
Received Funds From Selling Investment and Legal Partnership
|
2,300 |
702 |
|
Paid Funds for Purchasing Visible Fixed Assets |
(143,500) |
(281,430) |
|
Received Funds From Selling Visible Fixed Assets |
479 |
_ |
|
Net Cash Output From Investment Operations |
(140,720) |
(281,483) |
|
Net Cash Input Before Financing |
(78,518) |
(390,503) |
|
Increased Amount of Capital |
_ |
500,000 |
|
Net Cash Input |
(78,518) |
109,497 |
|
Loss of Foreign Exchange Conversion |
(15) |
_ |
|
Net Cash Increase |
(78,533) |
109,497 |
|
Balance of Cash Available at the Beginning of the Year |
191,027 |
112,494 |
|
Balance of Cash Available at the Yearend |
112,494 |
221,991 |
|
20.3.2000 corresponds to
29.12.1378 and 20.3.2001 corresponds to 29.12.1379 in the Iranian
Calendar
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Back
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Bank Refah was founded in June 1960, in accordance
with Note 39 of the previous year's Budget Law, with the aim
of providing welfare and facilities in order to meet the workers'
needs. Its initial investment of 400 million I.R.R. was designated
by Social Security Organization. In 1979, following the bill
on administration of banking affairs and nationalization of
the banks, Bank Refah was considered as a commercial bank and
in July 1993, it was being supported by S.S.O owning 46% shares
of the bank.
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