Proposal to increase Bank Mellat’s capital by 142% from retained earnings

According to the financial news report, quoted by the public relations of Bank Mellat, this bank, which is active in the country’s capital market with the symbol Webmelet and a capital of 353 thousand billion rials, according to Article 3 of the guidelines for the time steps of increasing the capital of companies registered with the Stock Exchange Organization and Securities (approved on October 17, 2015 by the Board of Directors of the Securities and Exchange Organization), put the explanatory report of the Board of Directors for the proposal to increase the capital from the amount of 353 thousand billion Rials to the amount of 853 thousand billion Rials from the accumulated profit on the Kodal system.

According to this report, this capital increase, which will be carried out with the aim of improving the capital structure and using the benefits of tax exemption subject to clause (e) of note 2 of the budget law of the year 1402 of the whole country, was approved by the board of directors on July 5 of this year and the report process The justification of the capital increase and obtaining the license from the auditing organization is being done, and the progress of the measures will be informed to the shareholders.