Sina Bank

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Sina Bank
Type Public
Traded as TSE: VSIN1
Industry Financial services
Founded 1985 (as Bonyad Finance and Credit Company)
2009 (as Sina Bank)
Headquarters Tehran, Iran
Key people Abdulnasser Hemmati,
chief executive officer
Products Retail banking
Transaction accounts
stock brokerage
Investment bank
Asset-based lending
Consumer finance
International payments
Foreign exchange
Net income Increase Rialsymbol.svg 818 Million IRR (2009)
Total assets Rialsymbol.svg 24.143 Billion IRR (2009)
Employees 1998 (full-time)[1]
Sina Bank, Nishapur

Sina Bank (Persian: بانک سینا‎) is a private Iranian banking establishment offering retail, commercial and investment banking services. The company was established in 1985 as a part of the government's privatization of the banking system.[2]

While established in Tehran, the bank operated throughout the nation with 1998 employees and 253 branches.[1]

Sina Bank is listed under the Tehran Stock Exchange and is currently one of eight private banks in Iran.[3] The bank is currently the 64th largest company in Iran.[4] In 2007, Sina Bank had initial equity capital of Rialsymbol.svg 10 Billion IRR.[5]


The bank was established in 1985 as the Bonyad Finance and Credit Company.[5] The company was the first credit establishment in the Iranian financial sector. In 2007, the company was privatized,[5] and in 2009 was listed on the Tehran Stock Exchange.[6]

The bank currently operates throughout the country, housing a total of 253 branches. In 2010, the bank came under European Union sanctions against Iranian banking institutions.[7]

In addition to offering short and fixed deposit accounts for domestic and overseas clients, the bank provides letters of credit, treasury, currency exchange, corporate loans syndication, financial advisory and electronic banking services.[8]

Corporate governance[edit]

  • Abdolnaser Hemmati - President and CEO 2007–present

On 2 August 2012 the EU Council deleted the name of Dr Abdolnaser Hemmati from its list of sanction set out in Annex IX to Regulation (EU) No 267/2012.Official Journal of the European Union dated 3.8.2012

See also[edit]


External links[edit]