The representative of the largest Italian bank, Intesa, and the managing director of Italconsult, the Italian top engineering consultation company, met with Hossein Mohammad Pourzarandi, the managing director of Bank Shahr, expressing their readiness to boost cooperation in different economic fields.
During the meeting, Hossein Mohammad Pourzarandi gave the guests a sense of the activities carried out by Bank Shahr and its outstanding progress over the past seven years, saying that Iran and Italy enjoy rich cultures. Italian companies aim to use Bank Shahr as a link to boost cooperation with Iran.
Although the bank was established just seven years ago, it is one of the top three private banks of Iran, so that over the one and a half past years its assets have quadrupled. The managing director of Bank Shahr went on to say that Iranian banks were not in good conditions under the sanctions. But, the sanctions regime could not get in the way of Bank Shahr.
The managing director referred to activities of the bank’s holdings, saying that the construction holding of Bank Shahr has financially supported large projects such as Line Six of Tehran Subway, Line Four of Isfahan Subway, as well as Tabriz and Shiraz subways.
Bank Shahr is responsible for establishing more than 70 kilometers of subway lines in different cities in addition to carrying out other development and cultural projects. In all these projects, the bank can take advantage of its partnership with the Italian side.
*** Progress of Bank Shahr admirable
Francesco Verdi, the representative of Intesa Bank, said the bank is one of the largest banks in Europe and keeps an active profile in many countries. “Over the past days, we conducted fruitful talks with the central bank of Iran, the oil ministry, and some other ministries. We are inclined to cooperate with Bank Shahr in different projects, especially those in need of financing.”
The advances Bank Shahr have made in the short period of time is admirable, Verdi said, adding that certainly it will be possible to expand cooperation between Bank Shahr and Intesa Bank.
****Expansion of cooperation between Bank Shahr and Italconsult
Also, Antonio Bevilacqua, managing director of Italconsult engineering company, announced readiness to cooperate with Bank Shahr, saying that the company holds a 40 percent stake in Intesa Bank and 90 percent of its activities is in other countries.
“We are interested in finding grounds to start cooperation seriously and define a strategy and budget to pave the way for further cooperation between the two countries, Bevilacqua said.