Banca Popolare di Sondrio

Banking
IM: BPSO
Italy

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"Is restricting or stopping business with Iran." (Benoit Faucon and Sarah McFarlane, “King Dollar Tightens Noose on Iranian Economy,” The Wall Street Journal, June 25, 2018.)

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In May 2017 – “According a TCCIMA's news website, Banca Popolare di Sondrio has agreed on a Money Transfer Service with its Iranian peers at a 0.15% fee. This puts the bill for transferring every €1,000 at €1.5–good news for Iranian businesses and banks used to sky-high fees during the sanctions.”

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According to Iran’s central bank, BPSO has established ties with Iran.  Furthermore, “[a] source close to Popolare di Sondrio told Reuters that the bank had an Iran team and was operating in the country.”  (Reuters, “Small banks help Iran slowly restore foreign financial ties,” 6/15/2016).

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On February 9, 2011 Banca Popolare Di Sondrio organized an event with the Italian-Iranian Chamber of Commerce (CCII) to discuss rules, regulations, and opportunities surrounding trade between Italian companies and Iran.