Banco Popolare di Vicenza S.p.A. (BPVi)

In January 2017, the Reserve Bank of India (“RBI”), based on information obtained from the Indian Embassy in Tehran, named Banco Popolare di Vicenza S.p.A. (“BPVi”) as one of a number of international banks with correspondent banking relationships with Iranian banks.  (RBI Website, “FAQs [Names of International banks which have entered into a correspondent banking relationship with Iranian banks],” 1/19/2017). (https://www.rbi.org.in/commonman/english/Scripts/FAQs.aspx?Id=2077)

“…when the end of sanctions came in January, we were ready to resume,” says Giovanni Forcati, Commercial Manager of Vicenza's Popular Bank. Today, the Vicentine Institute has re-established relations and “swapped the keys” (i.e. swift codes) with eight Iranian banks, which implies, inter alia, harmonizing security systems and anti-money laundering controls. (Internazionale, “L’amicizia commerciale tra l’Iran e l’Italia va a gonfie vele,” 12/1/2016). (https://www.internazionale.it/notizie/marina-forti/2016/12/01/iran-italia-commercio-relazioni)

According to a report in December 2016:

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