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Bank Mergers Possible

Bank Mergers PossibleBank Mergers Possible

Governor of the Central Bank of Iran Valiollah Seif has confirmed the possibility of merging banks, saying it will help the financial statements of Iranian banks comply with international standards.

"Any decision for consolidations would first be made by the shareholders of the banks, but this option is present in CBI's roadmap for banks as part of the vision to standardize the financial statements of banks and the shareholders might welcome this," Seif also told ISNA.

The CBI governor noted that the measure would help reduce banks' expenses while lowering the cost of maintenance for branches.   

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