BAKU, Azerbaijan, September 13
By Elnur Baghishov – Trend:
The Tejarat Bank of Iran has officially announced its intention to increase its capital by 83 percent, Trend reports citing the bank’s official website.
According to the report, the Tejarat Bank wants to increase its current capital from 223 trillion rials (about $5.3 billion) to 410 trillion rials (about $9.76 billion).
"In this regard the Tejarat Bank has appealed to the Securities and Exchange Organization of Iran," the report said.
According to the report, if the Securities and Exchange Organization of Iran agrees to this request, the Tejarat Bank could become the largest company on the exchange in terms of capital.
"The increasing of capital will be implemented in order to improve the financial structure," the report added.