BAKU, Azerbaijan, May 12
By Elnur Baghishov - Trend:
Iran's Eghtesad Novin Bank (EN Bank) is looking to increase the value of its portfolio, by making investments into its properties, after proper evaluation, according to the data of the manufacturers’ information service (codal.ir) under the Securities and Exchange Organization of Iran, Trend reports.
The report said the bank plans to invest some 17.2 trillion rials (about $411 million) into its assets. The investments are expected to be made in the current Iranian year (began March 20, 2020).
According to report, the bank held an emergency meeting, and decided on the new shares, and on the launch of the process of reevaluation of properties.
“The bank's capital will reach 30.4 trillion rials (about $724 million), following the made investments,” the report noted.
According to report, the value of each share of the bank is 1,000 rials (about 0.2 cent).
At the meeting, it was not decided to increase the investments of bank at the expense of cash revenues.