Saman Bank Corp. started its activities as Credit Institution in September 1999. Subsequently, in August 2002, it received a full banking license and changed its name to Saman Bank. Saman Eqtesad Credit Corporation was established on September 23, 1999 with a share capital of Iranian Rials 11 bln (US$ 1.4 mln). It opened its first branch on November 22, 1999 and managed to achieve in its first year of activity a 5% return on equity. In 2002, Saman was the third private financial institution in post-revolutionary Iran to receive a banking license. In this context, the share capital increased to Rials 220 bln (US$ 26 mln).
In March 2007, Saman Bank had a paid-sup share capital of Rials 900 bln (US$ 97 mln). It operates 85 branches across Iran.
Board of directors
Allahverdi Rajaei Salmasi (Chairman of the Board)
Iraj Niknejad (Vice Chairman of the Board)
Mohammad Zarrabieh (Board Member)
Saeed Atashkari (Board Member)
Reza Krishchi Khiabani (Board Member)
Parviz Moshirzadeh Moayedi (Board Member)
Vali Zarrabieh (Substitute Board Member & Managing Director)