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Bank Mellat, No. 1 banking partner of MSC: Managing director

Bank Mellat introduced strategic changes to its managerial decisions last year to expand the scope of its interactions with Mobarakeh Steel Company (MSC) after assessments two years ago revealed Bank Mellat was the fifth banking partner of the steel giant, the managing director of Bank Mellat said.
He further said following those changes Bank Mellat claimed the top spot among other banks when it came to letters of credit, letters of guarantees and the volume of loans it provided and become the top financier of MSC.
“Expansion of interactions between Bank Mellat and Mobarakeh Steel Company is of great importance to us, because we believe MSC is an international brand that can play a very crucial role in the development of the national economy,” he said.
The top banker stated he was pleased with his visit to the premises of MSC and the outcome of the meetings he had there with MSC officials, adding a memorandum of understanding which covers strategic goals and measures to expand relations between the two have been worked out.
“We hope implementation of this MoU helps us contribute to the realization of MSC goals when it comes to production, greater presence on the international stage, and completion of projects that will push up the added value index and complete the supply chain,” he said.
The managing director of the giant bank recalled the changes introduced to the financial structure of Bank Mellat and said as an economic institution, Bank Mellat has done a lot in the past and is now taking measures to expand its services and interactions both at home and abroad and create value at both national and international levels.
In conclusion, he put the value of letters of credit, letters of guarantee, macro- and microloans Bank Mellat has provided for MSC at around 13 trillion rials. “The massive volume has put Bank Mellat atop the list as far as market share is concerned.”

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