BIM Performance Outlined

The Bank of Industry and Mine has managed to add 300 MW of electricity to the country’s power network by financing ten 500 MW power plants and 24 combined heat and power grids so far.

It has also financed the country’s first Express Train (Tehran-Qom-Isfahan) for $1.8 billion, said the BIM chairman and managing director in a press release.

“By lending 20.1 trillion rials ($560 million) to 1,410 small- and medium-sized enterprises, BIM ranks third among all Iranian banks,” Ali Ashraf Afkhami added.

BIM’s performance after the implementation of the Joint Comprehensive Plan of Action has also been striking. Creating correspondent relations with 71 foreign banks in 26 countries has paved the way for opening lines of credit and securing money transactions for less than a tenth of the cost incurred during the sanctions period.