Iranian-European Bank

Iranian-European Bank (German: Europäisch-Iranische Handelsbank AG; Persian: بانک تجارتی ایران و اروپا) is a German bank founded in 1971.[1] Headquartered in Hamburg, it has two other branches in Kish Island (opened in 2005) and Tehran (representative office turned into branch in 2008).[2]

Iranian-European Bank
FormerlyDeutsch-Iranische Handelsbank AG[1]
TypeAktiengesellschaft
IndustryFinancial services
Founded1971 (1971)
Headquarters,
Number of locations
3
Owner
Number of employees
75[1]
Websiteeihbank.de

Its biggest shareholder is an Iranian state-owned bank, Bank of Industry and Mine, and other major stakeholders include Bank Mellat and Bank Tejarat.[2] Due to sanctions against Iran, the bank was not operative between 2011 and 2016.[3] In 2018, before the US pulled out of the Iran deal and reinstated their sanctions, German tabloid Bild obtained information about plans to fly out €300 million ($350 million) in cash.[4] Iran subsequently canceled their request for the German financial authority BaFin to release that money held by the European-Iranian Trade Bank.[5]

References

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