Best Bank: Tejarat
The financial sector in Iran continues to become more vibrant as institutions modernize and diversify their activities. The clear winner is Bank Tejarat for the impressive way in which the bank has grown business and earnings in the past year, continuing to build on the legacy of the banks that went to make up the institution. It is one commercial bank in Iran to have taken advantage of blending its successful international banking record with local knowledge and understanding. It is reaping the benefits of a strong international network, which most recently has been extended to China.
In the past year, profits rose by an impressive 90% to IR14.4 trillion ($1.5 billion), equivalent to 5.8% of assets. Shareholder equity grew by 22% to IR16.5 trillion, while assets rose by 21.5% to IR249.4 trillion and operating income increased by 22% to IR14.9 trillion.