Bank Melli Iran
Bank Melli Iran is a wholly state-owned, unlisted bank headquartered in Tehran. Founded in 1928, it provides retail, business, payment, foreign-exchange and trade-banking services through a nationwide branch network and digital channels, alongside an overseas presence. It is a significant domestic banking counterparty, while its US sanctions designation is decisive for cross-border compliance and transaction structuring.
Operations & footprint
Products and services
Bank Melli Iran provides retail banking, corporate banking, deposits, lending, payment services, card services, digital banking, foreign-exchange services, guarantees, remittances, import and export banking services, overseas-unit services, and financial services for individuals, businesses, public entities, and state-linked institutions.
Operations and assets
The bank operated 3,328 active branches and 180 banking booths in Iran in 2022. As of 20 May 2024, its overseas footprint comprised 14 active branches and four subsidiaries. Baam is its digital-banking platform.
Geographic footprint
Headquartered in Tehran, with operations across Iran and an overseas branch and subsidiary network.
Ownership & group structure
Ownership
Wholly owned by the Government of the Islamic Republic of Iran.
Reported scale
Scale note: Revenue was stated as IRR 110.539 trillion in 2022; total assets were stated as IRR 1.609 quadrillion in 2022.
Commercial and investment relevance
Bank Melli Iran is relevant for investors assessing banking access, payment reliability, public-sector finance, trade-related banking, foreign-exchange constraints, and counterparty risk in Iran. It can support analysis of how state banks influence credit allocation, money movement, import and export documentation, and corporate liquidity. Due diligence should include sanctions screening, account-service reliability, cybersecurity resilience, branch and digital-channel continuity, payment-system exposure, and careful review of any transaction involving state-linked financial infrastructure. The bank is relevant to businesses requiring domestic account services, payments, guarantees, foreign-exchange banking, remittances or trade-banking support in Iran. Its branch network and digital channels give it broad domestic service reach.
Constraints, risk & compliance
Key risks and constraints
Cross-border banking relationships and transactions involving Bank Melli Iran face significant execution constraints because of its US sanctions designation. The scale of its branch network also makes service continuity across physical and digital channels operationally important.
Sanctions and compliance considerations
Bank Melli Iran is listed by the US Department of the Treasury’s Office of Foreign Assets Control as a Specially Designated National (SDN). Transactions require specialist sanctions and counterparty screening.
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Frequently asked questions
Direct answers to the questions most likely to arise when reviewing this profile.
Who owns Bank Melli Iran?
Bank Melli Iran is wholly owned by the Government of the Islamic Republic of Iran.
Where is Bank Melli Iran headquartered?
The bank is headquartered on Ferdowsi Street in Tehran, Iran.
What services does Bank Melli Iran provide?
Its services include retail and business banking, deposits, lending, payments, cards, digital banking, foreign exchange, remittances, guarantees and trade-related banking.
Is Bank Melli Iran subject to US sanctions?
Yes. Bank Melli Iran is listed by OFAC as a Specially Designated National, making sanctions compliance a central consideration for cross-border transactions.