Economy, Business And Markets

Bank Day Raises Capital

Bank Day Raises CapitalBank Day Raises Capital

The CEO of Day Bank says it has raised its capital from 5 trillion rials ($164.9 million) to 6.4 trillion rials ($211.1 million). Ahmad Shafizadeh said   all required legal action for expanding the bank’s capital have been taken and the capital of some of it associated firms has also been raised. The capital of Day insurance company–a subsidiary of the bank– had a 300% growth, which improved its insurance services significantly, reported on Tuesday. Regarding the resumption of Day foreign exchange services, he said it has already restarted its foreign exchange activities after the Money and Credit Council (MCC) granted the official authorization.