EN Bank

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Eghtesad Novin Bank
Type Public
Traded as TSE: NOVN1
Industry Financial services
Founded Tehran, Iran , 2001
Headquarters Tehran, Iran
Key people Mohammad Botshekan (CEO)
Products Retail banking
Transaction accounts
stock brokerage
Investment bank
Asset-based lending
Consumer finance
International payments
Foreign exchange
Revenue Increase Rialsymbol.svg 1.8 Billion IRR (2010)
Net income Increase Rialsymbol.svg 1.2 Billion IRR (2010)
Total assets Rialsymbol.svg 56.65 Billion IRR (2010)[1]
Employees 2077 (Full-time equivalent, 2009)
Website www.en-bank.com

EN Bank, also known as Eghtesad Novin Bank (Persian: بانک اقتصاد نوین‎) is a major banking establishment offering retail, commercial and investment banking services in Iran. The company was established in 2000 as a part of the government's privatization of the banking system.[2]

While established in Tehran, the bank operates throughout the nation with 2077 employees, 622 ATMs and 200 branches.[3]

EN Bank is Iran's first private bank,.[4] It is currently listed under the Tehran Stock Exchange and was listed as one of Iran's top 200 companies.[5] The bank was also awarded Euromoney magazine's best bank of Iran in 2009.[6]


EN Bank operates as a private bank in Iran; In addition to retail, corporate, international, and commercial banking, The company offers savings and current accounts, loans, cards, and safe deposit boxes; merchant, cash management, and financing services; Internet, telephone, mobile, and SMS banking; and foreign exchange, currency accounts, trade finance, fund transfer, and wire services. EN Bank also provides utility bill payment service; and complementary financial services, ranging from securities trading to insurance.[7]


The EN group Holding company is the largest shareholder of the bank.[8] Other major shareholders include Kamran Eghtesad, Ghadir Investment Company,[9] Farhangian Investment Company,[10] Iran Zinc Mines Development Company,[11] Sakhteman Investment Company of Iran holding[12] and some of the mining companies and other companies. The share capital is 1000 Billion Iranian Rials (around $100M).

Corporate governance[edit]

Current members of the board of directors are: Mohammad Hasheminejad, Morteza Azizi and Dr. Ali Manavirad.[13]

See also[edit]


External links[edit]