BAKU, Azerbaijan, February 27. Tejarat Bank of Iran has raised its capital by 54.8 percent or 112 trillion rials (about $2.66 billion) after a meeting of its shareholders in Tehran on February 27, Trend reports.
According to the report, the bank’s capital now stands at 336 trillion rials (about $8 billion), up from 224 trillion rials (about $5.33 billion) previously.
The bank also announced that its share capital has grown from 412 trillion rials (about $9.8 billion) to 518 trillion rials (about $12.3 billion).
The Tejarat Bank of Iran was founded on December 20, 1979 by the merger of 12 banks with a capital of 39 billion rials (about $928,000). Today, the bank has over 1,400 branches across the country.
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