Bank Mellat's EPS: 656 Rials or 335? The Reason Behind the Conflicting Six-Month Reports (Wednesday, July 8, 2026)

Two different numbers are circulating for Bank Mellat's earnings per share, as of July eighth. Two outlets reported different earnings per share for the bank's first half of the fiscal year. Its net profit for that half year was about seventy nine trillion tomans, up thirty six percent. Its capital rose across four stages, from thirty five to three hundred thirty eight trillion tomans. One report put earnings per share at six hundred fifty six rials, another at three hundred thirty five. The gap comes from a difference in the share count used, not a reporting error. Some calculated profit on the share count before the capital increase, others on the newly restated count. The bank's board proposed a fresh capital increase funded from retained earnings. The proposed capital would have reached three hundred seventy three trillion tomans, but less was approved. Until the annual report lands, comparing earnings per share to older figures can be misleading. Trading in Vabmellat was halted in July for a material information disclosure. Bank Mellat's annual report could be the first to show earnings per share on the final capital base. Its price to earnings ratio, at the end of last fiscal year, was the lowest among listed banks. The annual assembly and the fate of the capital increase are the key things to watch. Read the full analysis on Sahmino.