Middle East Bank has improved market transparency, releasing reports on the impact of the recent interest rate cut on its expected earnings in the stock market and on its commission fee. The bank’s CEO Parviz Aghili declared in a letter to the Securities and Exchange Organization (SEO) that the interest rate cut, made by the Money and Credit Council on April 28, is expected to intangibly affect the bank’s current year (started March 21) budget since the simultaneous drop in deposit and lending rates would have equal effects on the bank’s resources and expenditures leading to no considerable change in the price of each share and the commission fee, Boursepress reported on Friday. In July 2012, Tehran-headquartered Middle East Bank offered its shares in the Iranian over-the-counter or Iran Farabourse at the price of 1000 rials (3 cents) per share. In February 2015, the bank’s trading was transferred to the Tehran Stock Exchange.
