BMI Sells Non-Financial Assets Worth $102m

The government-owned Bank Melli Iran said it divested its non-financial assets worth 17.4 trillion rials ($102 million) in the last fiscal year (March 2019-20). 
Among the important properties that were divested was a mineral company.  BMI had a 81% stake in Madan Shekafan Tehran company, which was bought by a private company in an auction in February, the bank’s news portal reported. 
It said the divestitures were in line with legal obligations announced by the government requiring banks to give up non-bank operations and focus on their original mandate, including lending to manufactures and businesses.