Tat Bank
Encyclopedia
For the area in Sandwell, England see Tat Bank, Sandwell
Tat Bank is an Iran
ian banking establishment offering retail
and commercial
services. The company was established in 2009 as a part of the government's privatization
of the banking system.
While established in Tehran
, the bank operates throughout the nation with 14 branches in Tehran
and an additional 50 in the provinces.
Tat Bank is listed under the Tehran Stock Exchange
and is currently one of eight private bank
s in Iran
. In 2006, the bank had an initial capital assessment of $250 million.
The bank specializes in funding and investing in the Iranian Automotive industry, whereby SAIPA
has become one of the bank's largest shareholders.
.
In addition to offering short and fixed deposit accounts for domestic and overseas clients, the bank also provides letters of credit, treasury, currency exchange
, corporate loans syndication, financial advisory and electronic banking services.
Current members of the board of directors
include: Ali Ansari
, Ali Khosrowdanesh and Morteza Yavashnia.
Tat Bank is an Iran
Iran
Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...
ian banking establishment offering retail
Retail banking
Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth.-Types of...
and commercial
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
services. The company was established in 2009 as a part of the government's privatization
Privatization in Iran
According to the Fourth Five-Year Economic Development Plan , the Privatization Organization of Iran affiliated to the Ministry of Economic Affairs and Finance is in charge of setting prices and ceding shares to the general public and on the Tehran Stock Exchange...
of the banking system.
While established in Tehran
Tehran
Tehran , sometimes spelled Teheran, is the capital of Iran and Tehran Province. With an estimated population of 8,429,807; it is also Iran's largest urban area and city, one of the largest cities in Western Asia, and is the world's 19th largest city.In the 20th century, Tehran was subject to...
, the bank operates throughout the nation with 14 branches in Tehran
Tehran
Tehran , sometimes spelled Teheran, is the capital of Iran and Tehran Province. With an estimated population of 8,429,807; it is also Iran's largest urban area and city, one of the largest cities in Western Asia, and is the world's 19th largest city.In the 20th century, Tehran was subject to...
and an additional 50 in the provinces.
Tat Bank is listed under the Tehran Stock Exchange
Tehran Stock Exchange
The Tehran Stock Exchange is Iran's largest stock exchange, which first opened in 1967. The TSE is based in Tehran. As of July 2010, 337 companies with a market capitalization of US$72 billion were listed on TSE...
and is currently one of eight private bank
Private bank
Private banks are banks that are not incorporated. A private bank is owned by either an individual or a general partner with limited partner...
s in Iran
Iran
Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...
. In 2006, the bank had an initial capital assessment of $250 million.
The bank specializes in funding and investing in the Iranian Automotive industry, whereby SAIPA
SAIPA
Saipa is the second largest Iranian auto manufacturer.Saipa was established in 1966, with 75% Iranian ownership, to assemble Citroëns under license for the Iranian market...
has become one of the bank's largest shareholders.
Operations
Since the bank's creation in 2009, 14 locations have been established in Tehran. In 2010, the bank opened its first branch in the north-eastern city of MashhadMashhad
Mashhad , is the second largest city in Iran and one of the holiest cities in the Shia Muslim world. It is also the only major Iranian city with an Arabic name. It is located east of Tehran, at the center of the Razavi Khorasan Province close to the borders of Afghanistan and Turkmenistan. Its...
.
In addition to offering short and fixed deposit accounts for domestic and overseas clients, the bank also provides letters of credit, treasury, currency exchange
Currency exchange
Currency exchange can refer to:* Bureau de change* Foreign exchange market...
, corporate loans syndication, financial advisory and electronic banking services.
Shareholders
The Bank is currently the largest shareholder of the company. However, the bank currently holds an additional 22,000 other shareholders.Corporate governance
- Hosseini Hashemi - President and CEO 2009–present
Current members of the board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
include: Ali Ansari
Ali Ansari
Ali M. Ansari, PhD, is one of the world's leading experts on Iran and its history. Having obtained his BA and PhD from the University of London's School of Oriental and African Studies , he is currently Professor in Modern History with reference to the Middle East at St...
, Ali Khosrowdanesh and Morteza Yavashnia.