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Capital of Iran's Day Bank increases

Finance Materials 11 July 2021 00:11 (UTC +04:00)
Capital of Iran's Day Bank increases

BAKU, Azerbaijan, July 11

By Elnur Baghishov – Trend:

The capital of Day Bank of Iran increased by 2,243 percent over the last Iranian year (March 20, 2020 through March 20, 2021), compared to the preceding Iranian year (from March 21, 2019 through March 19, 2020), the Executive Director of Day Bank of Iran Barat Karimi said, Trend reports citing the bank’s website.

Karimi noted that the bank's capital rose from 6.4 trillion rials (about $152 million) to 150 trillion rials (about $3.57 billion) within the mentioned period.

The director added that the increase in the bank's capital will create new opportunities for professional banking and the bank's shares will become valuable fully trusted shares.

"In addition, the bank's losses in the last Iranian year decreased by about 50 percent compared to the preceding Iranian year. So, if the bank's losses amounted to 138 trillion rials (about $3.28 billion) in the preceding Iranian year, this figure was less than 75 trillion rials (about $1.78 billion) in the last Iranian year," he said.

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