German major bank to suspend all transactions with Iran in July

Germany’s second largest lender DZ Bank announced on Friday that it will suspend all financial transactions with Iran starting from July 1, as U.S. exit from the Iran nuclear deal clouded over all businesses with the Middle East country, reports Xinhua from Berlin.

“We will completely suspend our foreign payment transactions related to Iran starting July 1,” a spokesman for the Frankfurt-based bank said.

DZ Bank is the central institution of Volks-, and Raiffeisenbanken. With more than 1,000 co-operative banks and their 12,000 branch offices, it is the second largest bank by asset in Germany.

 

German major bank to suspend all transactions with Iran in July

Germanys second largest lender DZ Bank announced on Friday that it will suspend all financial transactions with Iran starting from July 1, as U.S. exit from the Iran nuclear deal clouded over all businesses with the Middle East country, reports Xinhua from Berlin. We will completely suspend our foreign payment transactions related to Iran starting July 1, a spokesman for the Frankfurt-based bank said. DZ Bank is the central institution of Volks-, and Raiffeisenbanken. With more than 1,000 co-operative banks and their 12,000 branch offices, it is the second largest bank by asset in Germany.