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Bank Divestiture to Reach $3 Billion by Yearend

Bank Divestiture to Reach $3 Billion by Yearend  Bank Divestiture to Reach $3 Billion by Yearend

Banks have plans to divest 400 trillion rials ($3 billion) of their surplus property before the current fiscal is out in March 2020, said the deputy economy minister for banking, insurance and state companies. 
“Banks have surplus assets worth an estimated 700-1,000 trillion rials,” Abbas Memarnezhad told state radio, Tasnim News Agency reported. 
Banks divested 20 trillion rials ($800 million) in surplus prime holdings in the last fiscal (March 2018-19), the official said. 

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