Divesture of Banks Reaches $800 in Last Fiscal

Banks divested over 120 trillion rials ($800 million) in surplus holdings in the last fiscal (March 2018-19), the deputy economy minister for banking, insurance and state-owned companies said.

Financial Tribune- Abbas Memarnezhad said the divested companies belonged mainly to Bank Saderat, Tejarat Bank, and Bank Mellat, Fars News Agency reported.
The official pointed to issues pertaining to pricing mechanisms as an obstacle to divesture procedures, blaming disagreements over different pricing methods for the slow pace in selling the surplus assets.

Publish Date: May 11, 2019