Central Bank report on the merger of 5 armed forces banks in Sepah Bank

According to the announcement of the Central Bank Public Relations, the Central Bank in 1397 in accordance with the approvals of the Monetary and Credit Council and the Supreme Economic Coordination Council (heads of the three branches) and in line with the reform of the banking system, a comprehensive plan to merge banks and credit institutions Sepah was developed with considerations related to customers, depositors, shareholders, employees and other stakeholders, and after conducting extensive expert reviews with the presence of representatives of relevant agencies.

The aim of the country’s monetary and banking policymaker is to implement the integration plan, organize the country’s monetary market and increase the supervisory capacity of the Central Bank, in order to take advantage of the capabilities and capacity of Ansar, Ghavamin, Hekmat Iranian, Mehraqtesad and Institute Kowsar Credit “has been in the form of a more stable and efficient single bank and the merger of this group in Sepah Bank.

Accordingly, the Central Bank in the implementation process of the merger plan of banks affiliated with the Armed Forces, initially and based on a specific operational framework and according to the set schedule for more than two and a half years, implemented and operationalized this national plan.

In this comprehensive program, which was successfully implemented by the Deputy Supervisor of the Central Bank, with the effective and decisive support of the General Staff of the Armed Forces, the Ministry of Economic Affairs and Finance, the involved banks, and especially the hard-working managers of Sepah Bank. It was predicted and performed according to a specific schedule. For example, the activities of the Deputy Supervisor of the Central Bank during the past two and a half years in this regard can be part of some processes, such as redemption or transfer of major shares of merging units to the company introduced by the merger unit, formulation of valuation procedures and Appointing a board of official experts and evaluating the merging units, coordinating and interacting with other relevant agencies and ministries on various merger issues, including cooperation with the Stock Exchange and Securities Organization, the Tax Affairs Organization, the Ministry of Interior, etc .; He noted the necessary measures to build the IT infrastructure, operational reforms in the merged banks and credit institutions, including reducing overdrafts, adjusting deposit rates and reducing the number of branches, and holding extraordinary general assemblies to merge the merging units to elect new board members.

Also, in the process of implementing this comprehensive plan, it was necessary to integrate activities in the field of information technology and connect the related infrastructure in order to provide more and better services. Integration; The integrated connection of banking switches to the acceleration network and the integrated connection of data centers of integrated banks.

It is also necessary to mention that the amount of deposits with four banks and credit institutions along with the amount of deposits with Sepah Bank at the beginning of the merger plan and before the start of this process (March 2016) included more than 15% of the total amount of bank network deposits. . Also, the remaining amount of facilities of banks and credit institutions affiliated with the Armed Forces together with Sepah Bank before the merger plan was 12% of the total amount of remaining facilities of the banking network.

It should be noted that since there are about 50,000 people working in the merging and merging units of the country’s banking network, so paying attention to them and issues related to these employees is among the main priorities of the Central Bank Deputy Supervisor and from the beginning Implementation of this plan, job security, unification of executive procedures and provision of services to these employees were on the agenda.

Earlier, Abdul Nasser Hemmati, the governor of the Central Bank, announced the completion of a major project to merge Ansar, Mehr Eghtesad, Hekmat, Ghavamin and Kosar Credit Institution into Sepah Bank.