Bank Saderat Iran, or Export Bank of Iran, is a large multinational banking and financial services company and Iran’s largest bank. It was founded in Tehran in 1952 and now has some 3500 offices in 12 countries spanning Europe, Asia and the Middle East.
Bank Saderat, like all Iranian banks, was nationalised after the Iranian Revolution of 1979. The following year, branches in Iranian provinces were made independent and named Bank Saderat Ostan.
Bank Saderat now operates branches in UAE, Lebanon, Qatar, Afghanistan, Bahrain, France, Germany, Greece, Oman, Turkmenistan and the UK.
Bank Saderat Products and Services
In the UK, Bank Saderat focuses on financing international trade, project finance and managing banking syndicates. The bank has extensive expertise, of course, in the Iranian market and finances trade credits for it.
Trade finance at Bank Saderat operates mostly on a non-recourse basis. Both buyer and supplier credits are available covering everything from commodities to equipment. When it comes to project finance, Bank Saderat makes use of credit export insurance, provided by credit export agencies. The bank has a significant history of managing project finance for both buyer and supplier, with projects ranging from aircraft to production.
Personal banking customers are offered competitive rates of interest and good currency conversion options that are also available to non-customers (conversion of GBP and Euros into Iranian rial).
Bank Saderat also offers documentary credits services, covering opening, advice, confirmation and negotiation as well as payments, transfers and collections. The bank can also issue bonds and letters of guarantee.
For more information, contact details of bank department heads are freely available on the bank’s official website.
Security at Bank Saderat
Bank Saderat is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Deposits of up to £85,000 are covered by the Financial Services Compensation Scheme (FSCS).