Bank Mellat
Bank Mellat is a Tehran-headquartered commercial bank listed on the Tehran Stock Exchange under the symbol وبملت. Founded in 1980, it provides retail, corporate and commercial banking, payments, cards and digital banking across Iran, with selected overseas branches and affiliated institutions. It matters for analysis of domestic credit, payments and Iran-linked cross-border banking access.
Operations & footprint
Products and services
Bank Mellat provides commercial banking, corporate banking, retail banking, deposits, lending, payment services, foreign-exchange-related services, cards, digital banking, and financial intermediation. Its role is tied to Iran’s credit system, corporate liquidity, payment rails, trade finance constraints, and banking access for households, enterprises, and large industrial clients.
Operations and assets
Bank Mellat operates 1,437 branches in Iran (figure dated 20 July 2026). Its direct overseas branches are in Seoul, South Korea, and Istanbul, Ankara and Izmir, Turkey. International affiliates are present in the United Kingdom, Italy, Armenia, Malaysia, Germany and Iran.
Geographic footprint
Iran, with direct branches in South Korea and Turkey and affiliated operations spanning Armenia, Germany, Italy, Malaysia and the United Kingdom.
Ownership & group structure
Subsidiaries and group companies
International subsidiaries and affiliates include Persia International Bank PLC; Bank Mellat Yerevan; First East Export Bank; and Europäisch-Iranische Handelsbank AG.
Reported scale
Employees: Approximately 20,000–25,000 employees as of 31 December 2023.
Commercial and investment relevance
In the Hormuz investment graph, Bank Mellat connects capital markets, corporate credit, payment systems, retail deposits, enterprise banking, and operational risk for companies active in Iran. It is useful for assessing banking-sector exposure, domestic financing capacity, payment infrastructure, counterparty risk, and the practical friction around capital movement. Foreign analysts should treat it primarily as a financial-system signal rather than a simple investment target; sanctions history, compliance constraints, disclosure quality, balance-sheet risks, and correspondent-banking access require careful verification. The bank is a domestic channel for deposits, lending, cash management, payments and digital banking for households and businesses. Its overseas branches and affiliated institutions add relevance for counterparties evaluating Iran-linked banking relationships and transaction routes.
Constraints, risk & compliance
Key risks and constraints
Cross-border banking activity is constrained by sanctions-related restrictions and reduced access to the global financial system. The operational effect on individual overseas branches and affiliated institutions varies by jurisdiction and relationship.
Sanctions and compliance considerations
Bank Mellat has been subject to US and EU sanctions connected to Iran’s nuclear programme and alleged proliferation-related activity. EU measures were partly lifted after the JCPOA, while US restrictions have persisted or been reimposed, requiring transaction-specific compliance screening for Iran-linked dealings.
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Frequently asked questions
Direct answers to the questions most likely to arise when reviewing this profile.
Is Bank Mellat publicly listed?
Yes. Bank Mellat is listed on the Tehran Stock Exchange under the ticker وبملت (Webmelat).
Where is Bank Mellat headquartered?
Bank Mellat is headquartered in Tehran, Tehran Province, Iran.
What services does Bank Mellat provide?
Its services include commercial, corporate and retail banking, deposits, lending, payment and card services, foreign-exchange-related banking, and digital banking.
Does Bank Mellat operate outside Iran?
It has direct branches in South Korea and Turkey, alongside international subsidiaries and affiliates in Armenia, Germany, Italy, Malaysia and the United Kingdom.