CEO Message

I am pleased to once again present Karafarin Bank’s report on its outstanding performance and operations for the past financial period. During the year under review, international sanctions against Iran were lifted; the impact of which has been felt in the current year. Furthermore, the monetary policies of the Central Bank of the Islamic Republic of Iran (CBI) ensured that inflation continued a downward trend to reach a single digit level for the very first time in 26 years.

The re- election of the previous government and the implementation of its sensible policies shall undoubtedly be followed by an era of economic stability, which will carry a positive impact on Iran’s business environment and its banking sector in particular. Thanks to its sound long-term polices and robust structure, Karafarin Bank has overcome the above challenges. According to the statistics released by the Securities & Exchange Organisation, Karafarin Bank was among the few profitable Tehran Stock Exchange (TSE) listed banks in the previous fiscal year. This has been achieved at a time when most small and large rivals were making major losses and their shares were not traded on the stock exchange for months. Indeed, the above organisaiton has declared Karafarin Bank as the most profitable bank during the first nine months of the 1395 Iranian calendar year (2016).