Commerzbank reviews possibility of doing business in Iran

Jan 18 2016 (Reuters) – Commerzbank is reviewing the possibility of returning to Iran, less than a year after agreeing to pay $1.45 billion to settle sanctions violations tied to the country.

“Commerzbank is monitoring the development very closely and is reviewing a possible adjustment of its business policy,” a spokesman of Germany’s second largest lender said on Monday.

While the bank joins a raft of European companies signaling they are prepared to re-enter Iran’s market, Commerzbank’s stance contrasts to that of other European banks, including Deutsche Bank and Standard Chartered, which have said they would continue to refrain from doing business connected to Iran.

Source » reuters

You May Be Interested