Sanat and Mine Bank went to the meeting
According to Shada news, in this meeting, which was held on the morning of Monday, August 23rd, Khandozi, Minister of Economic Affairs and Finance, Sharifzadeh, Deputy Minister of Banking, Insurance and State Companies of the Ministry of Economy and Finance, Eskandari, General Manager. Banking and Insurance Office of the Ministry of Economic Affairs and Finance, representatives from the Central Bank, the Ministry of Industry, Mining and Trade, the Ministry of Labor Cooperation and Social Welfare, the Program and Budget Organization, and the Audit Organization, and Ali Khorsandian, the CEO of this bank, along with the members of the board of directors and the board of directors. Some of the managers of this bank were also present.
In this meeting, the report of the independent auditor and legal auditor of Sanat and Mine Bank regarding the financial statements ending on March 29, 1401 was presented and approved by the members of the assembly.
Also, the managing director of Sanat and Mine Bank in the annual general assembly of Sanat and Mine Bank, while thanking the Ministry of Economic Affairs and Finance and the efforts of the members of the assembly and appreciating the efforts of managers and employees of this bank, presented a report on the performance of this bank for the past year.
He announced the payment of more than 53 thousand billion tomans in foreign currency and rial facilities in 1401 and stated: more than 51 thousand billion tomans were collected from this bank’s claims last year and the opening of rial letters of credit of this bank in 1401 also amounted to It was 1,14 billion tomans.
The CEO of Sanat Va Madan Bank in this forum pointed out the financing of large, high-risk and low-return projects by this bank and explained: Sanat Va Madan Bank’s program supports these projects according to the slogan of the year, which is “inflation control and production growth”. Is.
Referring to the employment of more than 87 thousand people, to the projects implemented by this bank and the increase in production in various fields such as petrochemical, steel, construction and tile, cement, pharmaceutical, chemical industries, infrastructure and water desalination projects, automobile manufacturing, He mentioned knowledge-based companies and…
In his report, the CEO of Sanat and Mine Bank mentioned the composition of human resources, financial and operational information, the summary of the bank’s profit and loss statement and the summary of the bank’s financial position, and a statistical report of the performance of facilities and credits, the bank’s income and the composition of common income, the composition He presented deposit resources (currency and rials), facility balance (net) and stated that the net balance of the facility was 284 thousand billion tomans.
He also mentioned the total debts of Sanat and Mine Bank to banks and credit institutions as 88 thousand billion tomans, the total investment in shares and other bonds as 3 thousand and 100 billion tomans in 1401 and finally compared the performance and budget in 1401 the payment.
Khorsandian considered the high ratio of non-current receivables to the bank’s total receivables, which is mainly caused by the high volume of foreign currency facilities in the bank’s facility portfolio, as one of the main challenges of the bank and added: the impossibility of collecting foreign currency receivables due to the sharp increase in the exchange rate in recent years. Non-repayment of foreign currency and rial debt by state-owned companies or those dependent on direct government decisions, issuance of some judicial rulings preventing the collection of claims (such as the impossibility of shutting down debtor companies or initiating legal action for them to maintain employment) and the low cost of non-compliance Obligations from customers and their “negative learning” from other debtors are among the main obstacles to the collection of foreign currency claims of this bank.
The CEO of Sanat and Mine Bank, from the continuation of the low capital adequacy ratio of the bank, the reduction of the bank’s lending power in recent years due to the lack of capital resources for new projects, the negative situation of the bank’s foreign exchange, and the non-availability of part of the bank’s foreign exchange resources due to sanctions. and the unavailability of high-quality currency, the application of a legal deposit at a rate of 15% by the Central Bank of J.A., in case of violation of the limit of control of some banks’ balance sheets, and the departure of specialists from the bank, which is caused by a significant gap between salaries and benefits He said that compared to the country’s inflation rate and salaries in other banks and financial institutions, the amount received is one of the other problems and challenges of this bank.
In the continuation of his report, he pointed out the important issue that the ratio of granted facilities to deposit balances in the entire banking network is 75%, while this ratio is 425% in Sanat Va Madan Bank, and 5.5% of the banking network’s facilities are provided by Bank of Sanat and Mine has been paid.
Khorsandian listed the granting of facilities in line with managing the energy crisis and increasing the capacity of the country’s water and electricity resources and granting facilities to less developed areas and export-oriented projects, knowledge-based and new technologies among other achievements of this bank.
He is responsible for pursuing the increase of the bank’s capital, implementing a special program for managing the collection of non-current bank claims, controlling a certain amount of the bank’s balance sheet in order to resolve the imbalance and manage the bank’s liquidity, supporting the creation and maintenance of employment and domestic production, and bilateral financing of supply and demand in the industry and mining sector. Supporting small and medium-sized industries, developing digital banking services with a focus on providing corporate banking services and increasing fee income, developing investment banking operations through the creation of a capital supply company, completing and developing bank systems to improve risk management and productivity and disposal of non-productive assets and He considered the sale of surplus property and real estate and non-bank shares as the solution to overcome the current obstacles and problems of the bank, for which there is a serious and firm determination in Sanat Va Mine Bank.
He emphasized: We have a request in the field of increasing the bank’s capital and forecasting in the preparation of the budget bill 1403 of the whole country, increasing the bank’s capital and improving the capital adequacy ratio from the place, determining the debt of the government and state-owned companies to the bank through the issuance of special securities with a guarantee of principal. and profit by the government, strengthening the ability of the bank to provide facilities through the issuance of securities in the annual budget, the return of funds withdrawn from the Riyal Bank account for finance projects in November 1401, updating the government’s guarantees regarding finance projects by the Planning and Budget Organization, accelerating the issuance of establishment Bank Capital Funding Company by the Central Bank according to the set of actions and follow-ups carried out and… be assisted
Also, in this forum, Sharifzadeh, Deputy Minister of Banking and Insurance of the Ministry of Economy, stated: In the first 4 months of 2012, the collection of foreign currency claims of the National Development Fund has grown by 734%, and it was emphasized that some companies that are debtors have foreign currency income and should be paid in a way to be collected from them and in this context any legal action and it was emphasized that some companies that are debtors have foreign currency income and their claims must be collected in some way and in this context any legal and legal action or negotiation that is necessary should be and the Ministry of Economy will also support these measures. Sanat and Mine Bank should not be closed due to non-collection of claims.
He added: The Ministry of Security is aware that a large part of the country’s large industries have been built with the facilities of Sanat and Mine Bank, but they do not bring any financial circulation into this bank. Therefore, the Ministry of Security and the Ministry of Jihad, Agriculture, etc. must help to keep the Bank of Industry and Mine afloat.