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Tourism Bank Returns to IFB

Tourism Bank Returns to IFB 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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