– As the maturity dates of 20% bank deposits issued last year are closing in, now Iran Central Bank prepared a plot to reduce the risk of these massive funds flowing into parallel investment markets. The CBI is to extend the period of these certificated for another year yet with an 18% interest rate and a premature redemption rate of 10%. The important part is
– Brokerage houses ranking for the 11-month period ending Feb 19, 2018 has been announced by Securities and Exchange Organization (Iran SEO) and Agah Group again placed second in terms of electronic trades (e.g. online trading) with 6.68% market share. Electronic trades on Iran Capital Market itself span for 21.5% worth IRR 235,000 bn (cUSD 5.2 bn) of the total trading value.
– Despite all the political tensions from US side, European banks are still eager to engage more deeply with Iranian Banks. According to an interview with one of financial directors (Ulrich von Zanthier) of KPMG, one of the world’s auditing big $, EU banks are showing interest in Iranian market. In his opinion, business with Iran is gradually lifting and it will become more into effect in near future. The German official mentioned Denmark’s Danske Bank and Austria’s Oberbank as major lenders that have already stepped in to finance projects in Iran. Von Zanthier said more than 1,000 correspondent banks in Germany can provide a variety of services to Iranians and it is not essential at present to insist on linking up with big banks.
– Today 10% of “Kish Mobin One Co.” (MOBZ1, IRR 3,470) went public as the first IPO of the year on Iran Fara Bourse second market. The ticker was supposed to be priced in the range of IRR 3,400 to 3,470 through book building and finally 10 mn shares changed hands at +247% of its par. The P/E ratio stood on 6.5 which still is much lower than its peers like Atieh Data Processing with P/E of 14.0. The company is to provide value added services like VAS and IVR in the field of telecommunications.
– On the verge of general assemblies season, Tehran Stock Exchange covered ankle deep in dividend payments. Most of the listed companies held their GAs with best news available on new earnings and EPS coverage ratios. Almost every giant of each sector release new financials with great improvements on their per share earnings and imposed heavy adjustments to their forecasts. Below there is a list of most important DPS announcement of the day:
– In an attempt to make Tehran Stock Exchange more favorable to global taste, it seems that a new classification of market sectors are now on the regulator’s high priority list. Having more than 35 diverse industries on the TSE, the market is considered as one of the most scattered in the world. The new ICB based classification is to retire the old familiar ISIC standard and new indices are going to born with regards to new changes.
The first cabinet meeting of Persian new year (1396) held the other day with president Rohani pointing out the three unprecedented events in Iran Economy over a course of 15 years. The elected head of state recalled the followings as the major achievements and his legacy in his tenure:
Dr. Rohani cited that also every single penny of required import foreign currency, was funded from non-oil exports, made the trade balance positive after-all and it shall be considered as the high point his administration.
– Forasmuch as Tehran Stock Exchange has an urgent need for fresh liquidity, while ago the SEO tried to meddle, forcing fixed income fund managers to invest a minimum of 5% of the assets in equities. Despite the hope that the news brought, two months past and it is obvious that the investment committees are trashing the idea and refuse to put their money in. Excusing that the new directive shall be in run just after their current active period ended, it seems they are sending the equity obligation on a fool’s errand.
– IKCO chair revealed three new contracts with German’s giant on different mutual joint ventures. Hashem Yeke Zare said three cooperation agreements have been signed between Iran auto maker, IKCO, and Mercedes-Benz. The official also pointed to a recent contract with France’s PSA Peugeot Citroën, stating that the first series of the Peugeot 2008 manufactured by the Iran Khodro Company will enter the market in coming months. It seems that the second largest industry of the nation is about to receive the attention it deserve.
– Iran Debt Market issues with the highest yield have been reported below until 24 January 2017:
– The government spokesman announced that the administration is to pay $ 11.6 bn of its debts to banks until the end of the current year, which is aimed at lifting banks and adding to their lending power.
– On the Sixth Annual Conference of Monetary and Fiscal Policies, the governor of the CBI mentioned bank management, independent bank auditors, the Securities and Exchange Organization of Iran as well as the government as the pillars that would uphold transparency, concentrating on transparency, disclosure and accountability in the banking sector, in addition to pointing out to the importance of establishing corporate governance committees by bank managers.