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Iran to privatize 5 banks

TEHRAN, July 11 (Mehr News Agency) - Iran is tipped to private 5 state-run banks by ceding 100 percent of stakes, Managing Director of the Iranian Privatization Organization (IPO) Gholamreza Heidari Kord-Zanganeh announced here Wednesday.

The privatization-bound banks are Tejarat, Mellat, Refah, Saderat, and Post Bank.

Based on the Supreme Leader's new decree about privatization, 20 percent of each industry among them banking must remain in the state's hands, Kord-Zanganeh added.

Keeping in view that the banks remaining state-run take about 50 percent of the industry, the government has to deliver the five banks to the private sector in full stakes.

... Payvand News - 03/25/16 ... --

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