Based on the decisions approved and finalized as part of the annual general shareholders’ meeting of Middle East Bank held on Nov. 1, the lender will have a capital increase of approximately 1 trillion rials ($23.8 million), the private bank has announced. Middle East Bank’s capital increase from 5 trillion rials ($119 million) to 6 trillion rials ($142.8 million) was officially registered on Wednesday, according to a statement published by the bank on the codal system belonging to the Securities and Exchange Organization. Middle East Bank is owned by five major shareholders, namely Sarmad Insurance Company, two natural persons, Bank Saman, Mehr Ayandegan Financial Development Company and Iran Industrial Development Investment Company.
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