Economy, Business And Markets

Integrated Document for State-Owned Banks

Integrated Document for State-Owned BanksIntegrated Document for State-Owned Banks

An integrated strategic document for state-owned banks has been devised by the ministry of economic affairs and finance, announced the advisor of the economy minister for strategic management, SHADA news agency reported on Tuesday.    

“The document incorporates measurable 4-year quantitative objectives,” said Mojtaba Lashkar- Balouti.

Setting Bank Melli as an example, Lashkar-Balouti said the bank is instructed to increase the proportion of its operating assets from the current 24 to 65 percent.

“The document also requires Bank Melli to increase the per capita revenue of its branches from the current 30 billion rials to 82 billion rials, via enhancing the efficiency of its services, said the advisor.

Transferring the firms owned by banks and the surplus properties of banks to other entities are among other articles of the document, he said.

State-owned banks in Iran include Bank Melli, Keshavarzi Bank, Bank Sepah, Bank Maskan, Post Bank, Bank of Industry and Mine, and Export Development Bank.

This is the first time that an integrated strategic document of this kind is approved by the general assembly of banks.