Parsian Bank Signs Agreement With CITIC Group
TEHRAN - China’s CITIC Trust signed a 10-billion-dollar deal with five Iranian banks, including Parsian Bank, to fund development and production projects in Iran.
It is for the first time that an agreement signed with three private and two state-run banks with support of the Central Bank. Parsian Bank, Pasargad Bank and Refah Bank as the private ones as well as two state-run and Industry and Mine, and Exports Development banks signed the deal with the CITIC Group in China.
After the 8-billion-euro credit line agreement with South Korea, the deal with the Chinese Group is the second biggest deal which is a proof that recent developments have boosted trust and credit of Iranian banks for cooperation thanks to the JCPOA.
The CEO of Parsian Bank Dr. Kourosh Parvizian was present in the ceremony where the Governor of the Central Bank Valioollah Seif and Deputy Economy minister Mohammad Khazaee were also present.
As per the agreement, Export Development Bank of Iran, Bank of Industry and Mine, Parsian Bank, Bank Pasargad and Refah Bank are the designated Iranian banks that will use the Chinese finance. The loan will be repaid in installments within 10-12 years. CITIC Group ranks 51 among the top 500 world financial firms.