PayPing Competitors

Bank Mellat was established on 1979/12/20 by virtue of the resolution dated 1979/9/29 adopted by the General Assembly of Banks and pursuant to the provision of article 17 of the Bill on administering the Banks, with a paid up capital of Rls 33.5 bn as a merger of ten pre-revolution private banks comprising: Tehran, Dariush, Pars, Etebarat Taavoni& Tozie, Iran& Arab, Bein-al-melalie-Iran, Omran, Bimeh Iran, Tejarat Khareji Iran and Farhangian. Currently, the bank's capital amounts to Rls 40000 bn and is one of the largest commercial banks in the Islamic Republic of Iran, ranking among the top 1000 banks of the world.

Bank Keshavarzi also known as "Agriculture Bank of Iran", is the first financial institution specialized in agriculture in Iran and a major state-owned Iranian banking enterprise. It was founded on June 11, 1933 and its corporate headquarters is located in Tehran, Iran. The institution, decades later called The Agricultural Cooperative Bank of Iran, grew gradually providing funds for small and medium-scale agricultural activities in villages nationwide. In 1969, another organization under the name of Agricultural Development Bank of Iran was founded in order to finance the large scale development projects in the agricultural sector. After Iran's 1979 revolution, based on the "Banking Nationalization Law", the two afore-mentioned banks were merged to form "Bank Keshavarzi of Iran". The bank has four strategic business units: Personal and Small Business Banking, Commercial Banking, Investment and, Finance & Insurance. Bank Keshavarzi participates as the only specialized financial institution in Iran rendering quality banking services to the rural areas, granting credit facilities and low-interest loans to agriculture development projects, research and sustainability. Its contribution to the country's agriculture sector is over 70% measured and declared by Central Bank of Iran. Its banking network serves over 20 million clients and has a total of 1800 branches with over 16,000 employees nationwide. It's the only financial institution in Iran implements Tata Consultancy Services Core Banking system "TCS BaNCS". This platform initially has installed on December 2004 under the name of Australia-based Financial Network Services (FNS) core banking software which later, on October 2005, acquired by the Indian giant Tata Consultancy Services (TCS).

As the first established Iranian bank, Bank Sepah started its operations on May 4, 1925. The Bank Articles of Association were fundamentally revised in 1926, thus enabling it to render financial and banking services for economic activities. Now, as one of the most influential Iranian financial institutions, Bank Sepah with 94 years of experience effectively contributes to achievement of the country’s macroeconomic goals through mobilizing the funds from depositors and allocating them to the productive sectors. With a paid-up capital of IRR 119,531,843 million, the Bank now is one of the six Iranian state banks (wholly owned by the Government of I.R. of Iran) which plays a significant role in the economic development of Iran, through providing services on both national and international bases, within the framework of its three-year Strategic Plan, taking full advantage of its 1766 domestic branches, the three overseas branches in Paris, Rome and Frankfurt and one wholly-owned subsidiary, Bank Sepah International plc, in London.