BANKING - Iranian Bank's Record Profit In Turkey

Bank Mellat showed the biggest increase in profits among all banks active in Turkey over the first six months of the year, even amid sanctions against Iranian financial institutions, Star newspaper reported, Bloomberg wrote.
Bank Mellat reported profits in Turkey of 32.6 million liras ($18.5 million) in the first half, a 217 percent increase over last year's figure for the same period of 10.3 million and the biggest increase among banks in Turkey.  (source)


The US government called on Turkey to isolate the branches of Bank Mellat in April, saying it was providing financial support for Iran's nuclear program, the Turkish press had reported citing US officials.

Source :  http://www.zawya.com/story.cfm/sidZAWYA20110910055011/Iranian_Banks_Record_Profit_In_Turkey - Sept 10, 2011