PKO Bank of Poland is the first Polish bank technically ready to make financial settlements with Iranian banks. The PKO offer for exporters conducting trade with Iran allows them to significantly reduce the risk of their business. The Bank has consistently implemented a strategy of supporting Polish companies that are expanding their foreign expansion.
In recent weeks, PKO Bank Polski has exchanged several SWIFT keys with Iranian banks, which opened the way for financial settlements between Poland and Iran. The ability to conduct direct financial settlements with Iran is the answer of PKO Bank Polski for the needs reported by clients. Talks on first Iranian-Polish transactions are already very advanced. In the coming quarters, the international banking offer will be expanded with new services and geographical directions, thus implementing a strategy to support Polish companies on their way to foreign expansion.
The offer of PKO Bank Polski in the area of trade with Iran includes, among others. Possibility of adding confirmation to Iran letters of credit and issuing guarantees on the basis of counter guarantees from the Iranian bank. In the case of both services, PKO will make payment upon fulfillment of the terms of the transaction irrespective of the financial situation of Iran and the Iranian bank. This significantly limits the risk of Polish exporters dealing with Iranian counterparties and facilitates the conduct of transactions.
PKO Bank Polski supports Polish business abroad
The launch of settlement possibilities with Iran is another step of PKO Bank Polski to support Polish companies conducting business abroad. The bank recently also exchanged SWIFT keys with one of the banks in Mongolia, thus opening the way for financial settlements with the country. In December 2015, the Bank opened a branch in Frankfurt am Main aimed at servicing Polish companies operating on the western frontier.
The PKO Bank Polski offer is a full range of services and products for corporate clients. It includes, inter alia, transactional banking (including international cash pooling), electronic banking, treasury products, trade finance and corporate loans. In this way, the Bank wants to become a financial first choice partner for Polish companies running a business in Germany.