Iran to Merge Five Financial Lenders Linked With Military - Bloomberg:
Iran will merge five lenders linked with military institutions into state-run Bank Sepah amid a wider push by President Hassan Rouhani for the armed forces to divest from businesses.
The entities being consolidated include Ansar Bank, Ghavamin Bank, Hekmat Iranian Bank, Mehr Eqtesad and the Kowsar financial credit institution, the Central Bank of Iran said in a report on its website Saturday.
“Bank Sepah is one of the reputable government banks” and this is “an important step with a view to maintaining stability and the health of the banking system,” the regulator said.
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