1999 1998 Fee from fund transfers and cash withdrawals 1,063,768 1,333,738 Commission from issuance of guarantee letters 126,369 23,280 Others 18,296 29,452 Total fee and commission income 1,208,433 1,386,470
1999
1998
Fee from fund transfers and cash withdrawals
1,063,768
1,333,738
Commission from issuance of guarantee letters
126,369
23,280
Others
18,296
29,452
Total fee and commission income
1,208,433
1,386,470
Fee and commission income is the major source of income for the Bank. Fees and commissions charged by the Bank are outlined in the table below:
Individuals Corporations Banks AZM operations Cash withdrawals 1% 1% - Fund transfers AZM 5 or 0.1% AZM 5 or 0.1% - US$ operations Cash withdrawals US$ 10 or 0.8% US$ 10 or 0.8% 0.38-0.4% Fund transfers abroad US$ 30 or 0.5% US$ 30 or 0.3% US$ 30 or 0.07%
Individuals
Corporations
Banks
AZM operations
Cash withdrawals
1%
-
Fund transfers
AZM 5 or 0.1%
US$ operations
US$ 10 or 0.8%
0.38-0.4%
Fund transfers abroad
US$ 30 or 0.5%
US$ 30 or 0.3%
US$ 30 or 0.07%
Note 1 Principal Activities Note 2 Basis of Presentation Note 3 Significant Accounting Policies Note 4 Cash and short-term Funds Note 5 Loans and Advances to Banks Note 6 Loans and Advances to Customers Note 7 Other Assets Note 8 Premises and Equipment Note 9 Due to Banks Note 10 Customer Accounts Note 11 Other Borrowed Funds Note 12 Other Liabilities Note 13 Paid-in Capital Note 14 Retained earnings / Accumulated Deficit Note 15 Fees and Commission Income Note 16 Fees and Commission Expense Note 17 General, Administrative and Other Operating Expenses Note 18 Taxation Note 19 Dividends Note 20 Asset and Liability Concentration Note 21 Risk Management Note 22 Commitments and Contingent Liabilities Note 23 Reconciliation of Azeri Accounting Rules to International Accounting Standards Note 24 Related Party Transactions
