Iran Signs €500 Million Finance Deal with Denmark

Denmark's Danske Bank signed a €500 million finance contract with 10 Iranian banks on Thursday, becoming the second European lender to ink such an agreement with Iran.

Saman Bank, Bank Mellat, Tejarat Bank, Bank Melli Iran, Bank of Industry and Mine, Bank Sepah, Bank Pasargad Iran, EN Bank, Bank Keshavarzi, and Parsian Bank will act as the agent banks, providing civil projects in Iran with the Danish fund, Central Bank of Iran website reported.

At the Iranian ambassador's residence in a in Vienna attended by Ahmad Araqchi, CBI's deputy for foreign exchange affairs and Mohammad Khazaei, deputy minister of economy.

Danske Bank, founded in 1871 and headquartered in Copenhagen, is the largest bank in Denmark and a major retail bank in the northern European region with over five million retail customers. It was number 454 on the Fortune Global 500 list for 2011.

Earlier on Thursday, 14 Iranian banks signed a €1 billion contract with Austria's Oberbank.

source: Financial Tribune