VTB Bank opens representative office in Iran

MOSCOW. May 17 (Interfax) - VTB Bank has opened a representative office in Iran, Alireza Peyman-Pak, Deputy Minister of Industry, Mines and Trade, and Head of the Trade Development Organization of Iran, said.

"After continuous efforts and support from the Trade Development Organization, VTB Bank, the second largest Russian bank, has opened its representative office in Iran," the deputy minister wrote on Twitter.

He noted that VTB is the first Russian bank to open a representative office in Iran.

VTB has branch offices in India and China, and several foreign subsidiary banks, including in Armenia, Azerbaijan, Kazakhstan and Belarus.