Sina Bank ( fa, بانک سینا, ''Bank Sina'') is a private Iranian banking establishment offering

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and ...

commercial Commercial may refer to: * a dose of advertising conveyed through media (such as - for example - radio or television) ** Radio advertisement ** Television advertisement * (adjective for:) commerce, a system of voluntary exchange of products and s ...

and investment banking services. The company was established in 1985 as a part of the government's

privatization Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

of the banking system. While established in

Tehran Tehran (; fa, تهران ) is the largest city in Tehran Province and the capital of Iran. With a population of around 9 million in the city and around 16 million in the larger metropolitan area of Greater Tehran, Tehran is the most popul ...

, the bank operated throughout the nation with 1998 employees and 253 branches. Sina Bank is listed under the

Tehran Stock Exchange The Tehran Stock Exchange (TSE) ( fa, بورس اوراق بهادار تهران, romanized: ''Burs-e Owraq-e Bahadar-e Tehran'') is Iran's largest stock exchange, which first opened in 1967. The TSE is based in Tehran. , 339 companies with a com ...

and is currently one of eight

private bank Private banks are banks owned by either the individual or a general Partner (business rank), partner(s) with limited partner(s). Private banks are not incorporation (business), incorporated. In any such case, creditors can look to both the "enti ...

s in

Iran Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmeni ...

. The bank is currently the 64th largest company in Iran. In 2007, Sina Bank had initial equity capital of Rialsymbol

10 Billion IRR.

Operations

The bank was established in 1985 as the Bonyad Finance and Credit Company. The company was the first credit establishment in the Iranian financial sector. In 2007, the company was

privatized Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

, and in 2009 was listed on the Tehran Stock Exchange. The bank currently operates throughout the country, housing a total of 253 branches. In 2010, the bank came under

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been de ...

sanctions against Iranian banking institutions. 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.

References

External links

* {{TSE Companies of Iran Banks of Iran Banks established in 1985 Companies listed on the Tehran Stock Exchange Iranian companies established in 1985 Iranian entities subject to the U.S. Department of the Treasury sanctions

Operations

See also

References

External links