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The Managing Director of The Ayande Bank: "Our approach is the completion and assignment of assets."

: News date

Mr. Mohammad Fetanat described The Ayande Bank as one of the most powerful banks in the country, stating: "The Ayande Bank's perspective over its assets is to make them self-generative and sell them at last in a way that its resources are released for providing facilities in a manner that makes production leap happen."

The managing director of The Ayande Bank, while rejecting claims of The Iran Mall formerly belonging to a legal person and has been transferred to the bank by settling facilities, stated: "The Iran Mall has been one of the subordinate projects of The Ayande Bank from the first day of the bank's opening, and the ownership of this project was transferred to The Ayande Bank by transferring assets and debts of the merged corporations."

Mr. Fetanat adds: "According to what I already mentioned, The Money and Credit Council in 1394 (2015) made The Iran an exception in investment protocols for credit corporations, facility regulations, massive commitments and related persons for a year, and obligated the bank to take necessary actions regarding the selling of shares."

The managing director of The Ayande Bank also considers the Bank-Firm Corporations not ideal but also states: "The essence of Bank-Firm in The Ayande Bank is different as this bank has possessed assets that have been inherited to the bank by merging financial and credit corporations."

By pointing out the fact that this bank has inherited these possessions and is obligated to arrange these possessions, he continued: "Our approach is to complete and transfer these assets."

The managing director of The Ayande Bank also stated that the new approach of this bank is to support small businesses and said: "We have been able to cooperate with The Iran National Innovation Fund (aka I.N.I.F) in providing the very first funds for start-ups with a much lower interest rate than the average."

Mr. Fetanat stated that: "We are considering to register the owned malls in the stock market. We hope we can present these malls as shares to the stock market."

The managing director of The Ayande Bank (regarding properties) considered the Ayande Bank on the top in comparison with other banks and added: "Converting these assets to worthy papers can return a lot of money to the bank." Hoping to see more notifications of The Ayande Bank on the stock market website (www.codal.ir) he also said: "We are trying to clarify whatever we are able to clarify that is according to The Central Bank and stock market."

Mr. Fetanat also reported the ongoing settlement process of some former arguments over facilities and said: "This subject will be reflected to the bank as soon as we are done dealing with it."

The managing director of The Ayande Bank talked about the bank's seriousness in collecting receivables and added: "The OTC admission board has declared its preparedness to rise The Ayande Bank's name to the second place in OTC and this will take place whenever the prerequisites are met."

He also stated the rise in efficiency of resources and the increase in earning figures is The Ayande Bank's agendas and continued: "In this process, the bank's customers can also get more profit than their payment on account."

The managing director of The Ayande Bank pointed out the 5 million investors and 27 thousand shareholders in The Ayande Bank and said: "We have decided to provide from the cash contribustions and the new way of evaluating the increase in investments, and in this stage, only properties and un-depreciable assets will be re-evaluated."

Mr. Fetanat reports the efforts in engaging a financial holding upon The Ayande Bank and said: "By starting up this holding, some of the properties will be transformed to the holding and it has been scheduled for this holding to start up as a public stock and public subscription corporation so we can take more actions rather using the bank's resources and facilities to finish up the projects."

The managing director of The Ayande Bank also reported on the programme of starting up an electronic commerce market " ... to provide the chain of production with finances. This approach also has a great impact on industries like car manufacturing, steel, petrochemical industry and also the goods distribution network."

Mr. Fetanat ,with an eye to the future, considered the process of stock market positive and said that the mechanisms of the market itself such as starting up constitutions and tools should be strengthened in a manner that lessens the concerns from inside and implicitly, as the tools in the stock market can fulfil most of the country's needs.

The managing director of The Ayande Bank stressed out the importance of preservating our trust in the investment market and believes that the lack of consensus amongst elites in financial grounds can damage this trust.