Tejarat Bank

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Tejarat Bank
Public
Traded as TSE: BTEJ1
ISIN: IRO1BTEJ0001
Industry Financial services
Founded 1979
Headquarters Tehran, Iran
Area served
Middle East
Asia
Europe[1]
Key people
Majid Reza Davari (Chairman and Managing Director)[2][3]
Products Banking
Website www.tejaratbank.ir

Tejarat Bank (Persian: بانک تجارت commerce bank) is an Iranian Bank.[4] Its name means Trade Bank.[5]

History[edit]

Tejarat Bank was founded in 1979 by the integration of 11 Banks, five domestic commercial banks ( Bank Bazargani, Bank Shahryar, Bank Iranshahr, Bank Kar, Bank Sanaye), and six previous multi-nationality banks (Bank Iran and England, Bank Iran and the Middle East, Bank Iran and Japan, Bank Iran and the Netherlands, Bank Etebarat Iran, Bank Iranian) a less from two years later Bank Iran and Russia joined to them, which were active in international and domestic fields.[5]

In 2009 the bank was partially privatised, with the Iranian state remaining as a minority shareholder.[6]

In January 2014, the European General Court in Luxembourg ruled to annul the European Union sanctions in place since 2012 against the bank on grounds of supporting the Iranian nuclear program, as there was inadequete evidences supporting the claim. Sanctions will remain in place giving time for the EU to appeal the decision, or to re-impose sanctions on different legal grounds.[6]

International branches[edit]

Tejarat Bank has six branches in other countries.[1]

Subsidiary companies[edit]

Tejarat Bank is one of the main shareholders of Kardan Investment Bank alongside Saman Bank and Middle East Bank which was founded in 2014.

See also[edit]

References[edit]

  1. ^ a b :: Tejaratbank-Branches ::. Tejaratbank.ir. Retrieved on 2011-03-13.
  2. ^ Bank Tejarat. Cbi.ir. Retrieved on 2011-03-13.
  3. ^ :: Tejaratbank-Board Of Directors ::. Tejaratbank.ir. Retrieved on 2011-03-13.
  4. ^ Non-Government-Owned Banks. Cbi.ir. Retrieved on 2011-03-13.
  5. ^ a b :: Tejaratbank-Home ::. Tejaratbank.ir. Retrieved on 2011-03-13.
  6. ^ a b Adrian Croft (22 January 2015). "EU court annuls sanctions on Iranian bank, shipping firms". Reuters. Retrieved 7 March 2015. 

External links[edit]