Tourism Bank Returns to IFB
Tourism Bank Returns to IFB
Saturday, May 05, 2018

Tourism Bank Returns to IFB

Saturday, May 05, 2018

Tourism Bank Returns to IFB

After an 18-month hiatus, Tourism Bank returned to trading on Iran Fara Bourse on Tuesday, making it the first IFB-listed lender to unfreeze its shares in the current fiscal year (started March 21). The 6-trillion-rilal ($142.85 million) bank opened the day with no fluctuation cap to close trading at 1,091 rials per share, posting an 11.44% drop, Bourse Press reported. “GRDZ” was barred from trading as of August 25, 2016, due to “significant changes in earnings forecast for the fiscal 2016-17”, according to the bank’s reports. Its latest financial data put its retained losses at 909.09 billion rials ($21.64 million) by Dec. 21, 2017, showing a 25% uptick year-on-year.


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