| has gloss | eng: Title Of Bank 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). |
