Business And Markets

Big Bank Merger Complete

Big Bank Merger Complete
Big Bank Merger Complete

The final phase of a bank megamerger involving five military banks and state-owned Bank Sepah was completed on Sunday, the governor of the Central Bank of Iran said. 
Ansar Bank, last of the five, held its general assembly on Sunday wrapping up a complicated and arduous project that lasted 30 months, Abdolnasser Hemmati said in his social media account.
The merger involves Bank Sepah, the oldest bank in Iran and one of the three still owned by the government,  four banks and one credit institution owned by the Iranian armed forces.


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