Economy, Business And Markets

BMI, Korea Bank to Expand Ties

BMI, Korea Bank to Expand TiesBMI, Korea Bank to Expand Ties

South Koreas’ KEB Hana Bank is willing to start cooperation with Bank Melli Iran, KEB president and CEO Ham Young-joo said during a visit to BMI headquarters on Monday.

“South Korea has plans to invest in Iran and expand ties with economic sectors in the country,” the Korean banker was quoted as saying by ILNA.

He also hoped the two banks would soon start collaboration following the three-day visit of South Korean President Park Geun-hye to Iran, during which $20 billion worth of agreements are expected to be signed.

KEB Hana is the South Korea’s top-rated bank, with the largest assets in Korea as of June 2015. The bank has 127 branches in 24 counties.

Abdolnasser Hemmati, head of BMI, called for the establishment of correspondent banking relations between the two banks and their branches in Germany and Dubai “to provide banking services needed for boosting commercial ties between the two sides.”

 BMI is the largest commercial bank in Iran and the Middle East with over 3,300 domestic branches and 43,000 employees. It has 18 overseas branches.