Bank Saderat Iran (BSI ) officially commenced operation on 13 November 1952 with a board of three directors and 20 employees . From early on BSI was putting emphasis on rapidly expanding its branch network , and today operates the largest number of branches in Iran which currently stands at 3,248 branches.
On 7 June 1979 , together with the country's other private banks , BSI was nationalized and became 100% state- owned . In 1980 , BSI turned its branches and sub-branches in the Iranian provinces into independent banks, named Bank Saderat Ostan . As a result BSI has today 29 wholly owned provincial bank subsidiaries . Besides , BSI has over 200 affiliated companies . Their performance is supervised by Ghadir Investment Company . BSI is administered on the basis of a law passed by the Islamic Revolution Council on 25 September 1979 , as well as the provisions of its Articles of Association .
Today , BSI has acquired a leading position in the retail banking area and plays a significant role in the development of Iran's economy BSI's subsidiaries and affiliated companies are major contributors to the expansion of the country's industry , trade and service sectors .
With half a century of banking experience in Iran and abroad , BSI is in a position to offer quality financial services to its customers and well prepared to face the challenges lying ahead . |
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