Bank Shahr

Shahr Bank is one of the private banks in Iran that officially started its operations on February 9, 2009. In the past, this bank provided financial services under the names "Honarvaran Shahr Cooperative" and "Shahr Credit Cooperative."^[1][2]

Shahr Bank

The branch of Shahr Bank in Ferdowsi Square, Tehran.
Company type	Public
Traded as	وشهر
Industry	Financial services and investment (IRR and foreign currencies)
Founded	February 2009
Headquarters	Iran, Tehran, Ferdowsi Square
Key people	Barat Karimi (chairman) Mohammad Mehdi Ahmadi
Services	All financial services provided by the bank and its subsidiaries
Owners	Tehran Municipality Mashhad Municipality Karaj Municipality Qom Municipality Shiraz Municipality Qazvin Municipality Tehran Municipality Employees' Reserve Fund Tehran Municipality Retirement Fund Shahriar Cooperative Production and Distribution Company Other natural and legal persons
Number of employees	More than 4,000
Website	www.shahr-bank.ir

Shahr Bank was founded by the Tehran Municipality, and its shares are primarily owned by municipalities of various cities and metropolitan areas, municipal employees, and a portion of the Iranian public.^[3][4]

In 2014, it recorded the highest resource growth among private banks. The bank has branches in many cities of Iran.^{[5][6][7][8][9]}

History

The Shahr Credit and Financial Institution was established with authorization from the Central Bank and with shares owned by the municipalities of Tehran and other Iranian metropolitan areas. It started its official operations on February 9, 2009, with an initial capital of 1.5 trillion Iranian rials.

The main motivation behind establishing this bank was to meet municipalities' need for large-scale financing, liquidity, and capital to cover urban development costs, aiming for self-sufficiency in urban management.

After extensive efforts by senior managers of Tehran Municipality and other metropolitan areas, and with an increase in capital by shareholders to 2 trillion rials, the Central Bank, in coordination with the High Council of Money and Credit, approved the registration of Shahr Bank on February 8, 2010. The bank officially opened on March 8, 2010.

Two years after its establishment, the shareholders raised the bank’s capital to 4 trillion rials to provide necessary liquidity. This amount remained until 2013, when the capital increased to 7.9 trillion rials in July. By December 2015, it had reached 15.573 trillion rials.^[10][11]

Shareholders

Shahr Bank kiosks in public areas

According to reports published by the bank, approximately 30% of Shahr Bank's shares are publicly traded. A portion of the shares is held by employees of subsidiaries of Tehran Municipality, employees of municipal organizations in other metropolitan areas, and private individuals. The main shareholders of Shahr Bank are listed below:

• Municipality of Tehran
• Municipality of Shiraz
• Cooperative Production and Distribution Company for Municipality of Tehran Employees
• Municipality of Isfahan
• Tehran Municipality Employees' Reserve Fund
• Municipality of Qazvin
• Municipality of Mashhad
• Municipality of Qom
• Municipality of Karaj
• Municipality of Ahvaz
• Municipality of Tabriz

Subsidiaries

Shahr Bank has four subsidiaries: a financial and economic holding company with eight sub-companies, an information technology holding company with three subsidiaries, an industrial, mining, and energy holding company with two sub-companies, and four independent companies under its structure.^[12]

Construction and Urban Development Holding

• Jahan Housing and Construction Company
• Paydar City Building and Construction Company
• Kish Atiyeh Trade Housing and Urban Development Company
• Tehran City Renovation Company

Financial and Economic Holding

• Shahr Atiyeh Investment Company
• Shahr Brokerage Company
• Tamadon Capital Development Company
• ShahrAyin Tourism Development Company
• Shahr Leasing Company
• Shahr Financial Group
• Shahr Insurance Services Company

Information Technology Holding

• Shahr Development and Innovation Company
• Shahr Intelligent Strategy Company
• Secure Network Technology Company (Fash)

Industrial, Mining, and Energy Holding

• Shahr Industrial and Mining Development Group
• Jahan Economy and Future Investment Company

Structure

Board of directors

Shahr Bank's board consists of seven members: Seyed Mohammad Mehdi Ahmadi (CEO and board member), Barat Karimi (chairman), Javad Attaran (board member), Hesam Habibollah (board member), Reza Yarifard (board member), Mehdi Mirza Mohammadi (board member), and Vahid Mohammadreza Khani (board member).^[13][14]

Gallery

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  The Tehran Municipality, as one of the shareholders of Bank Shahr