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BSI Reports Stronger Performance

BSI Reports Stronger Performance BSI Reports Stronger Performance

The semi-private Bank Saderat Iran’s financial performance improved in the last calendar month (August 21- Sep 21) as the bank reported a strong enough balance sheet. 
As per its financial statement, the lender earned 24.5 trillion rials ($86 million) from interest and paid 22.3 trillion rials ($79 million) in interest on deposits during the month, IBENA, the news agency affiliated to Monetary and Banking Research Institute, reported.
The monthly financial report was released by codal.ir, an information website for instant official publication of corporate data and reports about companies listed in stock market.  
The lender’s half-yearly financial report also indicates improved performance. It said earlier that earnings from listing one of its subsidiaries would go a long way in helping the bank.
Last month the BSI’s investment arm, Sepehr Saderat Financial Group Company, went public and offered 20% of its stake. The lender earned 60.6 trillion rials ($214m) from the IPO that apparently helped it cut losses. 
The BSI made decent earnings [from the IPO] that can bring its accumulated loss for this fiscal year to zero,” Ahmad Fazeli, the BSI deputy for financial affairs was quoted as saying by ISNA.  
He expressed the hope that higher earnings and an ensuing enhanced capital adequacy would boost the bank’s lending capability.  
 

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