Bank Mellat’s goals of capital increase this year

According to Shaman News, Bank Mellat, which has a registered and unregistered capital of 20.7 and 5.5 thousand billion tomans, is present in the first market of the stock market and is the largest stock market bank in terms of nominal capital. In order to achieve its desired goals, which include the realization of the slogan of the year, this bank has defined programs and plans for this, which require an increase in the bank’s capital. Based on this, the extent of Bank Mellat’s capital increase is still ongoing, and the ideas considered for this capital increase by this bank have made us witness the speed of action in new increases. In this report, the measures taken to increase the capital and the process of these increases during the last year have been discussed.

Bank Mellat, which is present in the first market of the stock market with the symbol “Webmelet” and a nominal capital of 26.2 thousand billion tomans, announced in an announcement in the Kodal system about the proposal of the board of directors to the extraordinary assembly of this bank to increase the capital from the accumulated profit by 80%. . Therefore, Bank Mellat plans to increase the current capital from 26.2 to 47.2 thousand billion tomans.

The performance report of August and 5 months of the fiscal year ending March 1401, which Bank Mellat has uploaded to the Kodal system and made available to shareholders, reports a positive balance of 3.12.6 billion tomans. Earlier, Mellat Bank had announced the increase of capital by 55 thousand billion rials in May and regulatory capital in August.

Capital increase of 55 thousand billion Rials

According to the resolution of August 6, 2019, the board of directors of the bank regarding the capital increase of 9.2 thousand billion tomans, including 8 thousand billion tomans from other reserves (exchange rate difference reserve) and the amount of 1.29 thousand billion tomans from the accumulated profit. In September 2009, it was published in the Kodal system, that the audit organization in 2019 did not consider the reserves provided in the financial statements for taxes, doubtful receivables and deficit of actuarial obligations to be sufficient, but with Mellat Bank’s follow-up, the opinion of the audit organization for provision and increase of capital 55 thousand billion rials was approved by the auditing organization.

In May 1401, Bank Mellat announced an increase in capital of 55 thousand billion Riyals from the reserve of the difference in exchange rate of foreign currency assets and liabilities and accumulated profit to conquer the first place among listed banks. With this increase, the capital of this bank reached from about 207 to 262 thousand billion Rials and was able to become the first large banking company on the stock exchange in terms of nominal capital.

Bank Mellat regulatory capital increase in August this year

In August of this year, it was announced by the public relations of Bank Mellat that with the approval of the central bank as the supervisory body, the supervisory capital of this bank in the period ending on March 29, 1400, from the amount of 399.515 billion and 193 million rials to 474.832 billion and It increased by 103 million Rials, which indicates an increase of 75.316 billion and 910 million Rials.

Regulatory capital is the required amount of capital that is calculated and maintained based on the regulations notified by the supervisory authority.

Increasing regulatory capital (effective base capital), which is the basis of many regulatory indicators of banks’ health, Bank Mellat’s ability to pay large facilities and obligations, reducing the bank’s risks (credit, market and operational) and helping to boost production and participation in projects with The macroeconomic value will increase.

Registering a positive balance of 12,656 billion tomans for “Webmelet”

Based on the information published in the Kodal WebMlat system, in August, 6.8 thousand billion Tomans of income from granted facilities were identified and 3.7 thousand billion Tomans were paid as deposit interest, and as a result, a positive operating balance of 3 thousand billion Tomans was recorded. In the performance of 5 months ending in August, it also earned about 31577 billion Tomans from its granted facilities. Also, the amount of interest granted to the invested deposits in this bank reached 18,921 billion tomans. It should be noted that the balance of this bank was 12,656 billion tomans positive in 5 months.

It should be mentioned that the 80% capital increase announced on the Kodal system by “Webmelet” is subject to the approval of the stock exchange organization and approval in the extraordinary general assembly.

By increasing the capital, Bank Mellat will be able to use its resources optimally and pay more facilities in the year of production, knowledge-based and job creation to its valuable and large customers, which will increase the operating balance and profitability, and ultimately lead to satisfaction. It will provide more shareholders and depositors.