Iranian-European Bank (, Bank Tejareti-ye Iran vâ Erupa) 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). The European-Iranian Commercial Bank is a German joint stock company. It is (majority) owned by Iranian Bank for Industries and Mines (52%), Iranian Bank Mellat (26%), and Iranian Bank Tejarat (19%).[2]
Its biggest shareholder is an Iranian state-owned bank, Bank of Industry and Mine, and other major stakeholders include Bank Mellat and Bank Tejarat.[3] Due to sanctions against Iran, the bank was not operative between 2011 and 2016.[4] In 2018, before the US pulled out of the Iran deal and reinstated their sanctions, German tabloid