Tehran, Iran, Dec.14
Trend:
The priority of Saderat Bank is financing production and providing advances to producers and suppliers of raw materials, said Managing Director of Saderat Bank, Trend reports citing Fars News Agency.
Iran's Saderat Bank has covered its accumulated losses after six years and achieved operating and distributable profits, Hojatollah Seyedi noted.
The bank also plans to provide credit to citizens to purchase a home appliance, carpet, and shop at chain stores to increase people's purchase power and boost production, he indicated.
The bank assigns advances to long-term products such as petrochemical, steel, copper, and wire projects in Chabahar, Imam Khomeini Port, and Mahshahr Port, and financed civil projects such as water transfer from the Persian Gulf to Kerman and Yazd provinces.
Saderat Bank has strong relations with neighboring countries; the bank's offices in European countries are operating with some difficulties.
The banking transactions in Oman, Qatar, the Emirates, Turkmenistan, and Uzbekistan have increased compared to previous years.