Bank Tejarat

{{Short description|Iranian banking and financial services company}} {{Use mdy dates|date=July 2023}} {{Infobox company | name = Tejarat Bank | logo = TejaratBank Logo.png | image = Tejarat Bank Central Building 1.jpg | logo_size = | type = Public | traded_as = TSE: [http://www.tse.ir/en/ShowIns.aspx?ins=63917421733088077 BTEJ1] ISIN: IRO1BTEJ0001 | industry = Banking Financial services Insurance | predecessor = Iranians Bank | foundation = {{start date and age|1979}} | location = Tehran, Iran | area_served = Middle East Asia Europe<ref name="br">[http://www.tejaratbank.ir/portal/default.aspx?tabid=1130 :: Tejaratbank-Branches ::]. Tejaratbank.ir. Retrieved on March 13, 2011.</ref> | key_people = *Morteza Torktabrizi {{small|(Chairperson)}}<ref>[https://www.tejaratbank.ir/general_content/1520654-Board-Of-Directors.html :: Tejaratbank-Board Of Directors ::]</ref> *Hadi Akhlaghi {{small|(CEO)}}<ref>[https://www.tejaratbank.ir/general_content/1520654-Board-Of-Directors.html :: Tejaratbank-Board Of Directors ::]</ref> | products = Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, wealth management, credit cards, | revenue = 9,381,724 m IRR | assets = 36,331,810 m IRR | num_employees = 17,586 | subsid = Persia International Bank | homepage = https://www.tejaratbank.ir/web_directory/2978-Tejarat-Bank.html }}

'''Bank Tejarat''' (Persian: بانک تجارت, ''Bānk-e Tejārat'', {{lit|Mercantile (or Commerce) Bank}}) is a significant bank in Iran, headquartered in Tehran.<ref>[http://www.cbi.ir/simplelist/2390.aspx Non-Government-Owned Banks]. Cbi.ir. Retrieved on March 13, 2011.</ref> It was formed in 1979 by merger of several institutions including Bank Bazargani, itself the domestic successor of the Imperial Bank of Persia since 1952.

==History== [[File:ساختمان بانک شاهی 2.jpg|thumb|Former Imperial Bank building in Tehran, property of Bank Tejarat]]

Iran's Banks Nationalization Act was approved in 1979. Bank Tejarat (which means Mercantile or Commerce Bank in Persian) was subsequently established to integrate Bank Bazargani together with five domestic commercial banks and six previous multi-nationality banks which were active in international and domestic fields.<ref name="tb">[http://www.tejaratbank.ir/portal/default.aspx?tabid=425 :: Tejaratbank-Home ::]. Tejaratbank.ir. Retrieved on March 13, 2011.</ref>

In 2009 the bank was partially privatized, with the Iranian state remaining as a minority shareholder.<ref name="reuters-20150122">{{Cite news |last=Adrian Croft |date=January 22, 2015 |title=EU court annuls sanctions on Iranian bank, shipping firms |publisher=Reuters |url=https://www.reuters.com/article/iran-nuclear-eu-sanctions-idUSL6N0V156P20150122 |access-date=March 7, 2015}}</ref>

In January 2014, the European General Court in Luxembourg ruled to annul the European Union (EU) sanctions in place since 2012 against the bank on grounds of supporting the Iranian nuclear program as there was inadequate evidence supporting the claim. Sanctions remained in place giving time for the EU to appeal the decision, or to re-impose sanctions on different legal grounds.<ref name=reuters-20150122/> In April 2015 sanctions were re-imposed on new legal grounds.<ref name="reuters-20150408">{{Cite news |last=Adrian Croft |date=April 8, 2015 |title=EU re-imposes sanctions on Iranian bank, 32 shipping firms |publisher=Reuters |url=https://www.reuters.com/article/us-iran-nuclear-eu-sanctions-idUSKBN0MZ11P20150408 |access-date=September 22, 2015}}</ref> All sanctions were lifted after the Iran's deal with the six world powers on the nuclear program resulted in the embargo being lifted.<ref>{{Cite web |title=Information Note on EU sanctions to be lifted under the Joint Comprehensive Plan of Action (JCPOA) |url=http://eeas.europa.eu/archives/docs/top_stories/pdf/iran_implementation/information_note_eu_sanctions_jcpoa_en.pdf}}</ref> In 2017, the bank filed a compensation lawsuit at the European Court of Justice, which was dismissed in 2018.<ref name=ftt-20170128>{{cite news |url=https://financialtribune.com/articles/economy-business-and-markets/58430/irans-tejarat-bank-sues-eu |title=Iran's Tejarat Bank Sues EU |website=Financial Tribune |location=Tehran |date=28 January 2017 |access-date=15 November 2025}}</ref><ref name=eur-lex-20181129>{{cite web |url=https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:62017CJ0248#:~:text=Judgment%20of%20the%20Court%20(Fourth%20Chamber)%20of,judicata%20%E2%80%94%20Scope%20%E2%80%94%20Effective%20judicial%20protection. |title=Bank Tejarat v Council of the European Union |id=ECLI:EU:C:2018:967 |publisher=EUR Lex |work=Court (Fourth Chamber) |date=29 November 2018 |access-date=15 November 2025}}</ref>

==International branches== Tejarat Bank has six branches in other countries.<ref name=br/>

==Subsidiary companies== Tejarat Bank is one of the main shareholders of Kardan Investment Bank alongside Saman Bank and Middle East Bank which was founded in 2014.

== Cooperation with UNICEF == For the first time in 2018, Tejarat Bank has signed a memorandum of cooperation with UNICEF to improve the health, nutrition, education, care and overall well-being of children in Iran. and extended this cooperation again in August 2023.<ref>{{Cite web |title=To promote children's well-being: UNICEF and Tejarat Bank extend partnership for three more years |url=https://www.unicef.org/iran/en/press-releases/promote-childrens-well-being-unicef-and-tejarat-bank-extend-partnership-three-more |access-date=2024-01-04 |website=www.unicef.org |language=en}}</ref>

== World Digital Trade Organization membership == Tejarat Bank became the first Iranian bank to become an official member of the World Digital Trade Organization, with the aim of playing a role in facilitating monetary and banking transactions for merchants and economic activists.<ref>{{Cite web |date=22 January 2025 |title=Tejarat Bank Becomes a Member of the World Digital Trade Organization |url=https://shahrebours.com/?p=174383 |lang=ar }}</ref>

==See also== {{Portal|Banks}} *Banking and insurance in Iran *List of Iranian companies *Privatization in Iran

==References== {{reflist|30em}}

==External links== * [https://web.archive.org/web/20110725170635/http://www.cibafi.org/newscenter/english/FinanceNews.aspx?NFf=267 www.cibafi.org] * [http://www.zawya.com/Story.cfm/sidZAWYA20110305055025/Iran%3A%20Azar%20Oilfield%20Contract%20To%20Be%20Signed www.zawya.com]

Category:Banks of Iran Category:Banks established in 1979 Category:Companies listed on the Tehran Stock Exchange Category:Companies in the TSE TEFIX-30 Category:Iranian companies established in 1979 Category:Companies based in Tehran