Bank Shahr was established in 2009 by the municipalities of Tehran and other major cities. Supported by capital of IRR 1600 billion, the organization was initially authorized by the Central Bank of Iran (CBI) to operate as a Financial and Credit Institution. Bank Shahr was awarded a full banking permit by the CBI in 2010.
The aim of the founding shareholders was to provide modern, efficient banking services to private individuals and businesses, and to deliver essential funding for development and infrastructure projects across the country.
Bank Shahr has an impressive track-record of supporting many municipalities across Iran, providing liquidity for a diverse range of projects. By working in partnership with the senior directors of Tehran and other large cities, we have played a key role in enhancing their operational capabilities.
Our ethos is innovation in service, and this applies both to our retail banking services and to the way we support urban development throughout Iran. We continue to expand and improve our services to meet the changing financial needs of Iran’s major municipalities. Today, Bank Shahr is underpinned by IRR 7,900 billion in capital and has a network of 261 branches and 107 kiosks across the country. We manage 6.5% of Iran’s total savings deposits.