BAKU, Azerbaijan, December 17. The capital of Iran’s Sarmayeh Bank was increased by 23 percent or 40 trillion rials (about $952 million), Trend reports.
The decision to increase the bank's capital was made at the meeting of shareholders.
According to the report, this brought the capital of Capital Bank of Iran to 215 trillion rials (about $5.13 billion), up from 175 trillion rials (about $4.17 billion) previously.
The bank’s capital was boosted by cash contributions from the shareholders, financial restructuring, authorized capital expansion and capital adequacy assessment.
Iran’s Sarmayeh Bank began as a private bank in Iran in 2006 and listed its shares on the Tehran Stock Exchange that year. The Educators Savings Fund owns the majority of the bank’s shares. The bank has 165 branches across the country. The US Treasury Department sanctioned Capital Bank of Iran in 2020.
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