ID :
95935
Sun, 12/20/2009 - 13:53
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Shortlink :
http://m.oananews.org//node/95935
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Iran's EN Bank wins The Banker Award
TEHRAN, Dec. 20 (MNA) – Eqtesad Novin (EN) Bank of Iran was awarded the internationally accredited The Banker Award for the third straight time in a row.
The Banker magazine chose this bank on December 3rd as the best bank of the Islamic Republic of Iran in 2009.
The Banker magazine carried out its assessment by evaluating inquiries sent to 740 banks in 148 countries and analyzing statistics and banking information related to them.
EN Bank may be Iran's 12th largest bank in capital terms but in terms of growth, profitability and overall performance, the country's first privately owned bank is well ahead of the largely state-run banks.
One of few banks to report up-to-date financials, EN Bank is at the forefront of corporate governance and continues to show significant growth in all banking areas, winning this award for best bank in Iran for the third year in a row.
In May 2009, EN increased its paid-up capital by 20 percent from IR2500 billion ($253 billion) to IR3000 billion and further capital expansion to IR4500 billion is expected next year. EN improved its return on equity in the latest financial year to a very healthy 45.2 percent and is expanding its services to meet increased demand. In October it announced the opening for its customers of accounts in foreign currencies, including the euro.
The Banker award is considered the most accredited international award for banks throughout the world.
The Banker magazine is affiliated to the Financial Times and has been rating banks around the globe since 1926.
The Banker magazine chose this bank on December 3rd as the best bank of the Islamic Republic of Iran in 2009.
The Banker magazine carried out its assessment by evaluating inquiries sent to 740 banks in 148 countries and analyzing statistics and banking information related to them.
EN Bank may be Iran's 12th largest bank in capital terms but in terms of growth, profitability and overall performance, the country's first privately owned bank is well ahead of the largely state-run banks.
One of few banks to report up-to-date financials, EN Bank is at the forefront of corporate governance and continues to show significant growth in all banking areas, winning this award for best bank in Iran for the third year in a row.
In May 2009, EN increased its paid-up capital by 20 percent from IR2500 billion ($253 billion) to IR3000 billion and further capital expansion to IR4500 billion is expected next year. EN improved its return on equity in the latest financial year to a very healthy 45.2 percent and is expanding its services to meet increased demand. In October it announced the opening for its customers of accounts in foreign currencies, including the euro.
The Banker award is considered the most accredited international award for banks throughout the world.
The Banker magazine is affiliated to the Financial Times and has been rating banks around the globe since 1926.
