Bank Shahr Finalizes Sale of Setareh Poonak Qazvin Project, Recognizing 10,399 Billion Rials in Profit

Bank Shahr (symbol وشهر) said in a group B material disclosure published on Codal on Thursday, 16 Mehr 1405 (8 October) that at the end of Shahrivar 1405 (22 September) it finalized, in cash and instalments, the sale of the project known as Setareh Poonak Qazvin. The bank described the step as compliance with articles 16 and 17 of the law on removing barriers to competitive production and upgrading the country's financial system.

The bank said the auction details and its result, together with the expert-appraised price, had been published on Codal earlier, on 10 Mordad (1 August) and 26 Mordad (17 August) 1405. It recognized a profit of 10,399 billion rials (about 1,040 billion tomans) from the sale in that financial period. Bank Shahr had earlier also announced a profit recognized from the transfer of its Lashkari (Shahr Khodro) project.