First Austrian bank subsidiary to open in Tehran

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The first subsidiary of an Austrian bank is due to open in the Iranian capital, says Friedrich Stift, Austrian Ambassador to Tehran.

The Austrian banks are intended to return to the Islamic Republic, Stift said on Monday in the Iran-Austria business forum held at the Tehran Chamber of Commerce, Industries, Mines and Agriculture, referring to the post-sanctions era and reestablishment of banking ties between Iranian and foreign banks.

‘The establishment of Austrian banks’ subsidiaries in Tehran is going to help promote economic ties between Austria and Tehran,’ he said.

The Austrian ambassador to Iran also referred to recent visit by Iran’s Central Bank governor to Austria and expressed hope that Vienna and Tehran would see enhancement of bilateral ties in the near future.

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