Future meeting was cancelled/ New margins for Future Bank! – Tejarat News

According to Tejarat News, Vayind Bank Company, which had invited the shareholders to an extraordinary general meeting regarding the election of the board of directors members by placing a notice in the Kodal dated 07/19/1402, this morning by placing another notice in Kodal informed these shareholders about the cancellation of the meeting.

The details of the announcement are as follows: “Following the announcement published on 07/19/1402 regarding the invitation to the Extraordinary General Assembly at 11:00 on Saturday 07/29/1402, the Ordinary General Assembly is informed as above. The special meeting will not be held on the mentioned date, and the decision regarding the order of the following meetings was postponed to the next meetings, the date of which will be announced later.”

What is the way to save the future bank from the red situation?

Future Bank has been in a critical situation for a long time, and this bank has not only been unable to improve in recent years, but its health indicators are getting worse day by day.

Accumulated loss of 114 thousand billion tomans and negative capital adequacy ratio of 140% at the end of 1401, overdraft of 80 thousand billion tomans until the end of June, as well as the suspicion of tampering in the financial statements of Ainde Bank, are just some of the cases that indicate the dire situation of the bank, which recently The researches of the Majlis have also examined them in their report.

Despite the many criticisms that are directed at the performance of the future bank and its effect on the macroeconomic variables of the country, some people, relying on some arguments, always try to relate the bank’s situation to a period of bank management and emphasize that the revaluation of the bank’s assets It can take it out of the red state. Of course, the research arm of the parliament has answered these uncertainties in its report.

Revaluation of assets will save the bank of the future?

One of the claims about the status of Future Bank is that with the revaluation of the assets of Natrazi Bank, its debt of 112.5 thousand billion Tomans has been resolved and Bank Future is excluded from the inclusion of Article 141 of the Constitution.

The Majlis Research Center has emphasized in investigating this claim that the bank’s resources have been locked up in the form of investments and facilities to subsidiaries. About 80% of the balance of the bank’s facilities belong to subsidiaries, which should normally be included in the heading of doubtful receivables, but they are recorded in the heading of current receivables.

In fact, these assets are not profitable for the bank, and due to the faulty structure of the bank’s income-expenses and the incompleteness of many of the projects that Future Bank has invested in, measures such as revaluation of assets cannot revive Future Bank.

A tangle of confusion in the name of Iran Mall

If we assume that these half-finished projects also reach the stage of completion and operation, there will be many problems, including land ownership issues of the projects, extensive violations of municipal rules, concluding non-transparent contracts for operation, high cost and lack of sustainable income prospects from these assets. It will be extremely difficult.

For example, we can mention the Iran Mall project, which is the flagship of the assets of Aindeh Bank. Almost all the shares of Iranmal Development Company, the owner of the Iranmal project, belong to Eindah Bank, and the value of this company is recorded in the financial statements of Eindah Bank.

In terms of losses, this company is no less than Aindeh Bank, and its accumulated losses of 8.5 thousand billion tomans have exceeded the company’s capital. This loss will also become more serious in case of revaluation of the assets due to the significant increase in the depreciation cost of the company. In addition, the huge debts of 74.5 thousand billion tomans of Iranmal Development Company have made the value of the company even lower than the value of the Iranmal project itself.

Is the future bank a victim of its previous managers?

Another claim that is made about Future Bank is that the previous management of the bank from January 2018 to 1401 and not its defective structure is the cause of the loss of Future Bank.

However, the Majlis Research Center has also rejected the claim that the loss-making engine of Aindeh Bank was active years before the start of this management. Nevertheless, the reason for the difference between the mentioned management period and the periods before and after it is the accurate and transparent disclosure of the bank’s activities based on the regulations of the Central Bank.

In fact, the real situation of Future Bank is the same as it is included in the bank’s financial statements during this time period, and if the bank’s reports improved at other times, it was due to manipulation in the disclosure of activities.