Military Banks Full Merger by Yearend

The process of merging five banks and credit institutions, affiliated to the armed forces, with the state-owned Bank Sepah, will be completed by the yearend Abdolnasser Hemmati, says the governor of the Central Bank of Iran. 
"A large portion of the share of these five banks has been transferred to Bank Sepah. The remaining shares are being transferred," he told reporters on the sidelines of a weekly Cabinet meeting on Wednesday.
"The evaluation of banks’ assets is in progress," he said He expressed optimism over the positive effects of the major merger on the banking industry.