Following the announced framework nuclear agreement, the chief central bank of Iran, Seyf, encouraged the banks for being more active and being prepared for the bold international attendances in near future. He also warned that the value of non-current banks’ receivables has been increased significantly and raising capital must be in this year banks’ plans for better capital adequacy ratio. Before the sanctions, Saderat and Mellat banks had the most international transactions and high percentage of their income was from the exchange transactions. Now they are more attracted in the market as the possibility of opening swift gets stronger.
French auto makers Renault and Peugeot Citroen are ready for return to Iran, L’Express French news magazine reported. Based on this repot the announced framework agreement between Iran and the six world powers was good news for these companies. They are currently suffering from sanctions. Until 2012, Iran was the second largest market (based on the sale volume) for Peugeot after France. Car ownership rate in Iran is less than 100 units for each 1000 person while in 2013, 83% of French families had at least a car. Since 30 percent of Iranian family incomes are expensed for cars, Iran could be a great untapped market for French auto makers.
TSE at Glance
IFB at Glance
All the nation sectors have been seriously damaged, directly or indirectly, by the sanctions. However, they would have a greater growth potential if we could get back to the conditions and situations of 8 years ago. Transportation especially aviation and naval, automotive, petrochemical, leasing and banking sectors will benefit most after the lift of sanctions. In today’s market the demands were still more than the sales and this trend is expected to continue till the end of this week. However, the less related sectors to sanctions such as tile and cement will experience a more moderate trend in coming days. Although the market is moving mostly under the influence of emotional behaviors, the market experts have predicted a constant upward trend until the general meetings season in June.
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