“Before the sanctions, Sepah’s foreign exchange transactions stood at $7 billion and we have been trying to consolidate the infrastructure of offshore branches after the lifting of sanctions,” Mostafa Parto-Afkanan also said at the Fourth Iran-Europe Banking and Business Forum in Tehran.
The official noted that Sepah’s forex transactions reached $6 billion after the sanctions were lifted and the bank intends to increase the volume.
“Bank Sepah, in cooperation with four other banks, is currently investing about $2.2 billion in major projects,” Financial Tribune quoted him as saying.