Bank Saderat Iran in Lebanon, a branch of the mother institution Bank Saderat Iran in Iran, was established in Lebanon on January 15, 1963 with a
capital of Lebanese Pounds three millions, and was properly registered with the Ministry of National Economy under No.366, the Register of Commerce of Beirut under No.12428 and in the list of Banks under No.67. The bank is a member in the Association of Banks in Lebanon
The Bank’s capital was gradually increased from the minimum required in 1963, up to Lebanese Pounds eleven billions on today’s date, maintaining at all times, the requirements of the Lebanese laws and regulations in force, in addition to the instructions of Banque du Liban. Also the banking is under the procedures to increase the capital.
The Bank’s first branch was established in Riad-Al-Solh square and in less than two years it was transferred to Bab-Idriss. With the outbreak of the civil war in Lebanon, the bank maintained its operations through its main branch in Hamra Street which was further transferred in 1996 to its present location in Verdun Street.
During this period, the bank concluded its business in Lebanon through its main office in Beirut and its other three branches in each of Bhamdoun, Saida and Jal-El-Dib.
Inspite of the instable conditions which prevailed as form 1975, the Bank’s management insisted on maintaining its activities in Lebanon, and though the said branches were closed down as a result of the acts of war, the Bank resumed its activities by mid eighties and opened four other branches in Ghobeiry 1986, Baalback 1990, Bourj-Al-Barajneh 1997 and Saida 2001.
Necessary steps will be taken in future to open more branches as the management is maintaining a firm policy to spread the Bank’s operations to other regions of Lebanon.