Germany's biggest bank Deutsche Bank AG said on Tuesday it was closing its retail customer business in Iran. "We have informed our private customers in Iran that we have closed our business (with them)," a Deutsche Bank spokesman said, adding that international regulations and sanctions had made the business untenable.
Private client business contributed less than 0.1 percent of Deutsche Bank's revenue, the bank said. The bank declined to comment on what it would do with its euro-clearing business in Iran, which is important for business customers there.
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