Bank Mellat (Persian: بانک ملت, lit. People's Bank) is a Private Iranian bank. Its name means "Bank of the Nation". Bank Mellat was established in 1980, with a paid of capital of Rials 33.5bn as a merger of ten pre-revolution private banks comprising: Tehran, Dariush, Pars, Etebarat Taavoni & Tozie, Iran & Arab, Bein-al-melalie-Iran, Omran, Bimeh Iran, Tejarat Khareji Iran and Farhangian.
Currently, the bank's capital amounts to Rls 13,100bn and is one of the largest commercial banks in the Islamic Republic of Iran, ranking among the top 1000 banks of the world.
Bank Mellat's logo is derived from City National Bank of Florida (of CAJA MADRID Group).
The Bank Mellat London branch was merged with the Bank Tejarat branch to form Persia International Bank PLC. The United States Department of the Treasury has mentioned Bank Mellat and Persia International in their latest watchlist of Iranian Banks whom maybe trading in violation of UN Security Council Resolution 1803.
Famous quotes containing the word bank:
“A bank is a confidence trick. If you put up the right signs, the wizards of finance themselves will come in and ask you to take their money.”
—Christina Stead (1902–1983)