| Wednesday25 May 2016| |
 
Sepah Bank History
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The profile of the first Iranian bank

    
As the first established Iranian bank, Bank Sepah started its operations on May 4, 1925 with an initial capital of IRR 3,883,950 in a shopping center in Tehran.
The Bank Articles of Association were fundamentally revised in 1926, thus enabling it to render financial and banking services in any economic activities.
Now, as one of the most influential Iranian financial institutions, Bank Sepah, with 90 years of experience, effectively contributes to the achievement of the country’s macroeconomic goals through mobilizing the funds from depositors and allocating them to the productive sectors.
With a paid-in capital of IRR 75531 billion, the Bank now 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 branches in Paris, Rome and Frankfurt and one wholly-owned subsidiary, Bank Sepah International plc, in London.
The bank has recently designed and executed Top Quality Customer Satisfaction scheme to further enhance its client-oriented performance. The following are among the highlights:

• Providing the clients with the necessary information through the Bank’s website, direct phone lines, and information stands;
• Elaborating the Bank’s services through brochures, annual reports, banners, T.V. and radio advertising, publications and billboards; and
• Executing 5S methodology throughout branches in order to increase security, improve the Bank’s services and gain the satisfaction of the clients.
 
Branches and Human Resources Network
On February 2016, Bank Sepah had 1694 domestic and three overseas branches.The relationship and interaction between an organization and its staff are important factors for its development and promotion, and Bank Sepah believes that the skillful and motivated human resources represent its real capital. The Bank has, therefore, fundamentally revised its organizational structure to provide services in a more satisfactory manner.
As a consequence of recruitment of over 1300 employees, the Bank’s staff totaled 18000 at the end of the fiscal year 2015-16. Over the year under review, 22.5 percent of the staff were positioned in various administrative departments while 77.5 percent were active at the operational duties.
 
With regard to the lifting of sanction and the relaunching of SWIFT, this Bank is prepared to issue various kinds of letters of credit, documentary collections, Payment orders, guarantees, and render other international banking services.