The Secretary-General of the Policy Planning Council of the 14th Iranian Financial Industry Event stated that Russia’s largest financial institution, with belongings valued at $290 billion, will certainly participate on this yr’s Stock Exchange, Banking and Insurance Exhibition of the Islamic Republic of Iran.
Saleh Sepasdar stated VTB is the primary Russian financial institution to ship representatives to Tehran to take part within the exhibition.
Sepasdar added that senior administration of Russian banks will establish and cooperate with house owners of Iranian firms on the Iranian inventory market, in addition to banks and industrial insurance coverage firms, through the occasion, which will likely be held from August 9 to August 12, 2024.
Sepasdar additionally stated the worth of all Iranian banks’ belongings in 1402, the final yr of the Persian calendar, was about $265 billion, 10 p.c lower than the worth of VTB alone.
Sepasdar added that over the previous few months the financial institution has expanded its intermediation relationships with Iranian banks, together with the Central Bank of the Islamic Republic of Iran, and is now prepared to hold out banking operations in Iran.
He stated that VTB has 22 impartial banks and 4 branches outdoors Russia and is able to present providers in Africa, Latin America and Asia, with the Shanghai and New Delhi branches being among the many most essential branches.