Sunday 20 August 2017
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            The History of Bank Tejarat (1887 – 1979) 

            In 1887 a British bank named The East Modern Bank (Bank Jadid Sharq) established branches in some cities of Iran such as Tehran, Tabriz, Rasht, Mashhad, Isfahan, Shiraz, and Bushehr. In 1888, on the basis of a 60 year concession awarded to “Baron Paul Julius Reuter” the establisher of Reuters News Agency by Naser od-Din Shah (Qajar shah of Iran: 1848-96), the facilities of The East Modern Bank was assigned to Bank Shahanshahi. By virtue of this concession

            The dealing center in Tehran and the bank were recognized under submission of the laws of Britain, and London was its main center. This bank established some branches in other cities of Iran and foreign countries. The exclusive privileges of publishing paper money, tax exemption, performing commercial-industrial affairs, profiting from all subterranean resources, etc. were awarded to the mentioned bank. Concentration of the governmental accounts and the treasury funds in Bank Shahi and the said bank’s interferences in all the marital and civic affairs led to its absolute domination on the financial affair of Iran.

            Since Bank Shahi was a private institution, it never solved a problem for the Iranian Government. Bank Shahi supplied useful services in the field of industries of Britain and export of the agricultural products required for this country’s industry. This function led to development of the economic power of Britain, and increasing the economic influence of this country in Iran.

            Bank Shahi continued to be active under the same title until February 1949 when its 60 year concession expired, and thereafter renaming to “British Bank in Iran and Meddle East”, it continued to be active until August 1952 without the former concession and rights. Gradually as a result of the anti-colonialism campaigns of the Iranian people and the statement of Decedent Ayatollah Kashani on September 20 1951, the bank was dismissed from all the banking transactions such as gavel bills, opening current accounts, and any kinds of banking works. Finally on Nov 07 1952 and after expiry of Bank Shahi’s 60 year concession, a bank named Bank Bazargani (which means Commerce Bank in Persian) with 100% investment of Iran bought the place of Bank Shahi for amount of IRR 36’000’000 and a national institution took the place of a foreign institution. The capital of bank was the amount of IRR 1’500’000’000 divided to 150’000 registered shares of IRR 10’000 all of which were paid. The said bank on March 20 1978 had 102 branches in Tehran, 140 branches in other cities of Iran, 2 branches outside the country (Hamburg and London), and totally 3801employees.

            To execute the Banks Nationalization Act approved in 1979 and subsequently in execution of the banks integration; integrating Bank Bazargani, five domestic commercial banks, and six previous multi-nationality banks which were active in international and domestic fields, BANK TEJARAT (which means Trade Bank in Persian) was established. 

            Mission:
            Tejarat Bank, as one of the greatest banks in the region, has an effective presence in the domestic, regional and global markets and aims to create value for clients, especially valuable clients, through designing and innovating new services. Its good reputation, skilled human resources and capability to provide banking services especially in the field of commitments allows the Bank – within the framework of the Monetary and Banking Laws and Regulations – to promote its profitability and meet the interests of all stakeholders and play an effective role in the country’s economic growth and banking system advancement.

            Vision:
            In its prospective horizon as being the first choice of clients, Tejarat Bank will be an accountable bank to meet the needs of clients through rendering the newest services at the shortest possible time.

            Values:
            1) Committed to observance of professional and legal principles;
            2) Committed to value creation for all stakeholders;
            3) Committed to observance of customer orientation and accountability principles;
            4) Committed to collaborative management and organizational learning;
            5) Committed to transparency and honesty.

            Major Objectives:
            In order to realize its prospective document that visualizes the Bank as being able to become clients’ first choice, Tejarat Bank has determined the following major objectives and through adopting the most appropriate strategies and operational programs, it has focused all the efforts of directors and employees to the full realization of these objectives, within the defined time horizons. These objectives are as follows:
            - Increasing Bank’s portion in the country’s liquidity
            - Increasing Bank’s portion in the total liabilities of the country’s banking system
            - Reducing Bank’s non-performing loans
            - Promoting the level of electronic banking services
            - Improving customers’ satisfaction level
            - Improving staff efficiency
            - Increasing the ratio of non-joint income to total income
            - Improving efficiency and operating profit margin
            - Improving profitability from Bank’s investments
            - Improving internal controls and financial health levels
            - promoting profitability

            Major Strategies:
            Through conducting meticulous studies on the external environment, identifying the available internal potentials and taking advantage of experts’ knowledge and experience, Tejarat Bank has determined the following strategies at different levels to realize its major objectives:
            - Diversifying Bank’s services and introducing modern financial and banking tools
            - Improving Bank’s investment and partnership portfolio
            - Improving and developing human resources appropriate to Bank’s structure and strategies
            - Optimizing the branches network and increasing agility in the staff and operational activities
            - Implementing and strengthening the integrated system of marketing and public relations
            - Developing Bank’s information and communication technology
            - Improving the quality of legal, controlling and surveillance activities
            - Establishing the universal banking
            - Strengthening the credit system
            - Improving the recovery of non-performing loans
             

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