Saman initially 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 Rials 11 bln (US$ 1.4 mln). It opened its first branch on November 22, 1999 and managed to achieve already 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 54 branches including 15 branches in Tehran and 39 branches across Iran.
The founding shareholders of Saman Bank are some of the most reputable Iranian entrepreneurs and financial service providers. Their initiative aimed at establishing a bank that could provide financial facilities and various other banking services to the private sector without red-tape and bureaucracy.
Since commencing its operations, Saman Bank has steadily increased and upgraded the scope of services. It acts as a pioneer in providing within the existing regulatory framework innovative solutions tailored towards the needs of individuals and corporate clients.
Saman Bank also launched the first internet banking service in Iran and has since been at the forefront of expansion and enhancement of electronic banking.
Saman Bank aims at becoming the leading private corporate bank in Iran. This goal shall be achieved by emerging as the corporate customers’ banker of choice. Accordingly, Saman Bank is putting big efforts towards understanding sector specific needs and concerns and developing tailored banking solutions. In addition, the bank has embarked on the model of relationship banking and puts great emphasis on developing and expanding with each client an individual relationship no matter if the transactions are big or small.