Approval of a 100% increase in the capital of the Nations Credit Institution

According to the report of the financial news, quoted from the public relations of the Credit Institution of Nations: The Extraordinary General Assembly of the Credit Institution of Nations was held on the 15th of July 1401 in the central building of the institution with the presence of 82.51% of the original shareholders and proxies.
In this meeting, which was held in the presence of the respected members of the board of directors, the representative of the Securities and Exchange Organization, the representative of the inspection and legal auditor, and the shareholders, after reading the agenda and also the letter of the Central Bank and the Securities and Exchange Organization of the Assembly of Nations Credit Institution with an increase The capital of the institution was brought from the cash of the shareholders.
This report adds: at the beginning of the meeting and after the election of the board of directors of the assembly, Hojat al-Islam and Muslimin Javadi as the assembly’s chairman, after welcoming the attendees and congratulating them in advance on Eid al-Adha, while explaining the process of correspondence and follow-ups of the institution to obtain permission to increase the institution’s capital. He said: In line with the duty of the honorable Central Bank to transform the status of the institution and improve the capital adequacy ratio of the institution, reduce the existing risks, make maximum use of the capacities with the aim of increasing the capacity to develop the profitable activities of the institution and maintain the competitiveness in the banking industry for a long time. Previously, we sought to obtain a capital increase license from the Central Bank, which, while thanking the senior managers of the Central Bank, issued the relevant license, and through subsequent follow-ups, we were also able to obtain a capital increase license from the Securities and Exchange Organization, and finally, with the issuance of the required licenses. We need and set up a justification plan to serve our valuable shareholders for the issue of capital increase.
He further stated: After confirming the capital increase from the shareholders’ cash contribution, we intend to increase the company’s capital from the revaluation of the property.
After the statements of the Managing Director of the Nations Credit Institution, the report of the Frioran Audit Institute regarding the explanatory report of the Board of Directors regarding the increase of the capital of the Nations Credit Institution from 10 thousand billion Rials to 20 thousand billion Rials was read. And then, after listening to the opinions of the shareholders regarding the agenda of the voting session, the assembly agreed to increase the capital of the institution from ten thousand billion Rials to twenty thousand billion Rials from the cash contribution of the shareholders.
Public Relations wishes health and well-being to all shareholders and depositors of the National Credit Institution.