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EDBI Tower in Tehran, Iran
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| Company type | State-owned bank |
|---|---|
| Industry | Banking Financial services Export credit agency |
| Founded | 10 July 1991; 32 years ago (1991-07-10) |
| Founder | Government of Iran |
| Headquarters | Tehran, Iran |
Number of locations | 38 domestic branches (20 March 2023) |
Area served | Iran |
Key people | Afshin Khani (Managing Director) |
| Products | Development bank, commercial bank, financial services, corporate finance, foreign exchange markets, internet banking, money market, buyer's credit, line of credit |
Number of employees | 1,832 (20 March 2023) |
| Subsidiaries | Subsidiaries
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| Rating | Capital Intelligence (CI) Ratings (07 November 2023) Long and Short Term Foreign Currency Ratings 'B', Bank Standalone Rating 'b', Core Financial Strength 'b', Extraordinary Support Level 'Moderate', Outlook for the LT FCR and BSR 'Stable', Operating Environment Risk Anchor, C+[4] |
| Website | www |
Export Development Bank of Iran (EDBI) (Persian: بانک توسعه صادرات ايران, Bank Tuse'h-e Sadârat-e Iran) is Iran's export-import bank. The bank was incorporated as a policy bank, owned by the Iranian government, and provides financial and other conventional banking services to Iranian exporters and importers.
Pursuant to the approval made by the Extraordinary General Assembly Meeting of the Banks, the Export Development Bank of Iran was founded on 10 July 1991, and subsequently became operational on 24 November 1991, as a state-owned bank. Under its charter, EDBI acts as the administrative arm of the Government of Iran to contribute to the national economy, through promoting non-oil export of goods and other technical and engineering services of Iranian origin and also to enhance economic cooperation with other countries.[5]
The Export Development Bank of Iran has access to the Government Fund (Sovereign Wealth Fund) administered by the National Development Fund of Iran [NDFI] which was founded in 2011. The NDFI has signed agency contracts with different Iranian banks including Exports Development Bank of Iran (EDBI) to allocate US$9 billion for supporting investments in the private Sector.
| Financial Year End | 20.03.2023 | 20.03.2022 | 20.03.2021 |
|---|---|---|---|
| Total Assets | 1,179,678,954 | 1,040,943,171 | 937,459,144 |
| Total Liabilities | 938,156,814 | 832,539,363 | 758,070,391 |
| Shareholders' Equity | 241,522,140 | 208,403,808 | 179,388,753 |
| Net Profit | 20,061,798 | 13,266,440 | 22,511,850 |
1USD= IRR 250,000 (as of 20 March 2023)
After 16 January 2016, which marks Implementation Day of the JCPOA[7] , also known as Iran's Nuclear Deal, Export Development Bank of Iran (EDBI) is not currently on the United Nations (UN) or the European Union (EU) Sanction Lists. Nonetheless, according to US Dept. of Treasury, Office of Foreign Assets Control (OFAC) on 11 May 2018, EDBI is on the SDN list, subject to Secondary Sanctions.
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