Bank Mellat

Translating to 'Bank of the Nation', this institution emerged in 1980 following a government mandate to consolidate ten private banks that operated prior to the 1979 Islamic Revolution. The merger combined entities such as Tehran Bank, Dariush Bank, and Pars Bank into a single state-controlled entity with an initial paid capital of 33.5 billion Rials. Over subsequent decades the bank expanded its financial base significantly, reaching reported capital figures of 40,000 billion Rials by recent estimates.

The organization operates from the Mellat Bank Central Building in Tehran while maintaining a complex international footprint. Its core business encompasses retail banking, corporate banking, insurance services, and investment activities. As a pillar of Iran's financial infrastructure the bank provides critical liquidity to the government often issuing loans to support unprofitable state-owned enterprises and entities associated with military programs.

A significant shift occurred in September 2026 when Turkey revoked the operating license of the bank's branch in Istanbul after 44 years of operation. Multiple reports confirm that Turkish authorities terminated the license due to intensifying US economic pressure campaigns and compliance concerns regarding secondary sanctions. This decision effectively ended the bank's long-standing presence in Turkey marking a major contraction of its remaining international operational capabilities amid heightened geopolitical tensions. [edit]