Mellat Bank
 |
|
| Public | |
| Traded as | : BMLT1 ISIN: IRO1BMLT0007 |
| Industry | Banking, Financial services |
| Founded | 1980 |
| Headquarters | Tehran, Iran |
|
Area served
|
Worldwide |
|
Key people
|
Mohammad Bigdeli (Chairman) Hadi Akhlaghi (CEO) |
| Products | Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management, credit cards, |
| Total assets | US$ 62 billion (2011) |
|
Number of employees
|
24,757 (2009) |
| Website | en |
Bank Mellat (Persian: بانک ملت, lit. People's Bank) is a private Iranian bank. Its name means "Bank of the Nation". Bank Mellat was established in 1980, with a paid capital of Rials 33.5 billion as a merger of ten pre-revolution private banks, comprising Tehran, Dariush, Pars, Etebarat Taavoni & Tozie, Iran & Arab, Bein-al-melalie-Iran, Omran, Bimeh Iran, Tejarat Khareji Iran and Farhangian.
Currently, the bank's capital amounts to Rls 13,100 billion and it is one of the largest commercial banks in the Islamic Republic of Iran, ranking among the top 1000 banks of the world.
Bank Mellat's logo is derived from City National Bank of Florida (of CAJA MADRID Group).
The Bank Mellat London branch was merged with the Bank Tejarat branch to form Persia International Bank PLC.
Mellat Bank has 11 international branches and services in 11 countries:
The United States Department of the Treasury has mentioned Bank Mellat and Persia International in their watchlist of Iranian banks which may be trading in violation of UN Security Council Resolution 1803.
On 29 January 2013, the European General Court in Luxembourg ruled to annul the European Union sanctions in place since 2010 against Bank Mellat on grounds of supporting the Iranian nuclear and missile programs, stating that the basic rights of the bank had been denied and there was no evidence supporting the claim. Bank Mellat intends to sue for damages. On 18 February 2016, the Court of Justice of the European Union concurred with the General Court decision that the reasons given for sanctions were too vague.
A related action in the British courts was taken to the Supreme Court of the United Kingdom in March 2013, causing the court to hold a closed hearing for the first time. In June 2013, the Supreme Court ruled that the UK government's sanctions on the bank had been unlawful. Bank Mellat intends to claim for £500 million of damages from the UK government for loss of business between 2009 and 2013.
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Wikipedia