BMI Sells $113m in Nonfinancial Assets

State-owned Bank Melli Iran, the largest domestic lender, says it ceded nonfinancial assets worth 26.13 trillion rials ($113 million) in the first five months (March 20- August 21) of the current fiscal year. 
The divested assets were almost three times higher than those sold in the whole of last year, according to the BMI  news portal.  
Selling nonfinancial assets are in line with obligations announced by the government requiring banks to give up non-bank operations and focus on their original mandate, namely lending to manufactures and businesses, it said.