Russia’s largest bank to participate in major Iranian financial event

The secretary of the policy-making council of the 14th Iranian financial industry event says Russia’s largest bank which holds an asset value of 290 billion dollars, will certainly participate in this year's Stock Exchange, Bank and Insurance Exhibition in the Islamic Republic.

Saleh Sepasdar said VTB is the first Russian bank to send a representative to Tehran to take part in the exhibition.

Sepasdar added that the Russian bank’s senior managers plan on identifying and cooperating with the owners of the Iranian industries on the country’s stock market as well as with banks and commercial insurance companies in the event, which will be held from August 9 to August 12, 2024.

Sepasdar went on to say that the value of the assets of all Iranian banks in the last Persian year of 1402 was about 265 billion dollars, which is 10 percent less than that of VTB alone.

Sepasdar added that over the past months, the bank has expanded its brokerage relations with Iranian peers including the Central Bank of the Islamic Republic of Iran and it is currently ready to perform banking operations in Iran.

He said with 22 independent banks and 4 branches outside of Russia, VTB is prepared to provide services in Africa, Latin America and Asia with its Shanghai and New Delhi branches being among the most important ones.

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