Persia Bank To Launch in South Korea

John Kim, Jan. 28, 2016, 8:18 a.m.

Persia Bank, one of the four biggest banks in Iran, is apparently gearing up to advance into the Korean market. Persia Bank has recently asked about the procedure for opening a branch here, the Financial Supervisory Service said Wednesday. Persia Bank has assets of $18 billion and would become the second Iranian bank operating here after Mellat Bank. 

Other Iranian banks are expected to follow suit now that international sanctions against Iran have been lifted. Meanwhile, Mellat Bank is preparing to revive its business and bolstering staff here after a period of de facto dormancy due to the sanctions. 

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