Mellal Credit Institution (ASKZ) Settles 14,448 Billion Rials of Related-Party Loans by Taking Over Shares in Three Companies, Trimming Its Loss by 7,059 Billion Rials

In a group A Codal notice published on Wednesday, 11 November 2026 (20 Aban 1405) as a change to its notice of 16 Aban (7 November 2026), Mellal Credit Institution (ASKZ) said that, to recover non-performing and doubtful loans to related parties that lacked sufficient collateral, it took over shares in Pichab Kavosh, Gostaresh Energy Mellal and Sanaye Ghazaei Pars Kadous, held through the Mellal Economic Development Group.

According to the notice, the shares taken over are valued at 14,448 billion rials (about 1,445 billion tomans), and receivables of the same amount were recovered. Of this, 7,059 billion rials (about 706 billion tomans) was booked as loan income, reducing the institution's loss by that amount. The institution says the takeover falls under the limits of articles 16 and 17 of the law on removing barriers to competitive production and breaches its supervisory ratios, but, in line with the restructuring plan submitted to the central bank and the Securities and Exchange Organization, it hopes to sell the assets within the legal deadlines. The value of the assets taken over exceeded 5% of the institution's market capitalization on the day of the original disclosure, 13 Aban (4 November 2026).