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 3,254  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.