...

Over 400 bank branches suspend activity in Iran

Business Materials 13 November 2019 12:09 (UTC +04:00)
Over 400 bank branches suspend activity in Iran

BAKU, Azerbaijan, Nov. 13

By Elnur Baghishov - Trend:

As many as 438 branches of Iranian banks have suspended activity during the seven months (March 21-October 22) of this Iranian year (began March 21, 2019), Trend reports via IRNA referring to the statistics of Iran’s Central Bank.

The number of bank branches in Iran last year (from March 21, 2018 to March 21, 2019) was 23,549, according to the report.

During the seven months of this Iranian year, this number dropped to 23,111.

One bank branch accounts for every 3,600 people, given that there are 83 million people in Iran.

The branches that suspended their activity belonged to Tejarat, Saderat and Melli banks.

According to the Iranian Central Bank’s statistics, 1 branch of Standard Chartered Bank, as well as Eghtesad Novin Bank with 281 branches, Ansar Bank with 1,098 branches, Iran Zamin Bank with 322 branches, Ayandeh Bank with 222 branches, Parsian Bank with 350 branches, Pasargad Bank with 333 branches, Tejarat Bank with 1,862 branches, Iranian-European Bank with 2 branches, Tose’e Ta’avon Bank with 426 branches operate in Iran.

This is while Iran’s Export Development Bank operates with 42 branches, Hekmat Iranian Bank with 206 branches, Middle East Bank with 16 branches, Bank Day with 81 branches, Refah Bank with 1,062 branches, Saman Bank with 140 branches and Sepah Bank with 1,777 branches in Iran.

“Besides, Sarmayeh Bank with 122 branches, Sina Bank with 268 branches, Shahr Bank with 348 branches, Saderat Bank with 2,623 branches, Bank of Industry and Mine with 57 branches, Gharzolhasaneh Resalat Bank with 217 branches, Gharzolhasaneh Mehr Iran Bank with 572 branches, Ghavamin Bank with 736 branches, Karafarin Bank with 109 branches, Keshavarzi Bank with 1,862 branches, Tourism Bank with 101 branches operate in Iran,” the report said.

In addition, Maskan Bank operates in Iran with 1,248 branches, Iran Venezuela Bi-National Bank with 1 branch, Mellat Bank with 1,800 branches, Melli Bank with 3,212 branches, Post Bank with 423 branches, Islamic Cooperation Bank with 1 branch and Future Bank with 1 branch.

According to a study by the Iranian Ministry of Economic Affairs and Finance, presently, 12,000 bank branches in Iran can meet the needs of the population. However, there are about 22,000 bank branches in Iran and 10,000 of them need to be liquidated.

Tags:
Latest

Latest