Tejarat Bank Boosting Ties With Peugeot

A board member of Tejarat Bank announced that the bank is ready to offer a variety of banking services to the French auto group PSA Peugeot Citroen to boost interactions.

During a meeting attended by representatives from Iran Khodro Company-PSA joint venture (IKAP), Reza Dolatabadi said “as the partner bank of Iran Khodro, Tejarat Bank is ready to issue letters of credit and other guarantees, as well as extending credits to IKAP as a package”, IBENA reported.

“All the major economic institutions in the country are determined to support foreign investment,” he added.

Ali Mehrpour, the director of Tejarat Bank’s International Affairs Department, who was also present at the meeting, called for boosting interactions between Tejarat and IKAP. 

“Our Paris branch played an important role in developing these interactions and is increasing its services to the French side as part of our cooperation,” he said. During President Hassan Rouhani’s visit to Paris, the French automobile group signed an agreement to create the joint venture IKAP on January 2015. The goals were to produce three models: Peugeot 208, 2008 and 301 by the end of 2017.