Persia International Bank

Persia International Bank plc is a banking institution based in London and associated with Iran through its two shareholder banks, Bank Mellat and Bank Tejarat. The bank began trading on 29 April 2002 after the London branches of those two Iranian banks were combined into a single institution. Its formation created a jointly owned banking vehicle intended to consolidate the shareholders' activities in the United Kingdom and provide banking services connected with international commerce and finance. The bank's public profile has been shaped less by consumer-facing branding than by regulatory and sanctions-related developments. In 2008, the United States Department of the Treasury identified Persia International among Iranian banks that might have been conducting transactions contrary to United Nations Security Council Resolution 1803. The bank later became subject to European Union restrictive measures introduced in 2010, with allegations that it supported Iran's nuclear and missile programs. On 6 September 2013, the European General Court annulled the sanctions imposed on the bank, finding that the EU institutions had relied on an incorrect assessment of the relevant facts and evidence. Available reference material provides limited information about the bank's current product range, management, ownership percentages, financial performance, website, or present operating status. It is therefore best characterized as a specialized international banking institution with a London base and Iranian shareholder connections, rather than as a broad retail banking brand. Its historical significance lies primarily in the consolidation of Bank Mellat's and Bank Tejarat's London operations and in the legal and regulatory questions surrounding the application of international sanctions to Iranian-linked financial institutions.

Persia International Bank plc commenced trading in London on 29 April 2002. It was created by merging the London branches of Bank Mellat and Bank Tejarat, two Iranian banks that became joint shareholders in the new institution. The merger consolidated the London presence of the two banks under a single corporate identity and established Persia International as a vehicle for their international banking activities. The bank's history has subsequently been closely connected with international scrutiny of Iranian financial institutions. In 2008, the United States Department of the Treasury referred to Persia International in a watchlist concerning Iranian banks that might have been engaging in activity contrary to United Nations Security Council Resolution 1803. The reference placed the bank within a wider regulatory concern over the use of financial institutions in transactions associated with Iran. The European Union imposed sanctions on the bank in 2010, alleging that it supported Iran's nuclear and missile programs. Persia International challenged the measures before the European courts. On 6 September 2013, the European General Court in Luxembourg annulled the sanctions. The court found that the EU authorities had made an incorrect assessment of the facts and evidence relied upon in imposing the measures. The judgment was an important legal development in the bank's publicly documented history, although it did not eliminate the broader regulatory sensitivity surrounding Iranian-linked banking institutions. Publicly available reference material provides little detail about the bank's current operations, management, financial results, customer segmentation, or product architecture. No verified information is supplied here about its present ownership percentages, executive team, retail branch network, current website, or continuing activity. The documented record therefore supports a focused description: Persia International Bank is a London-based institution formed from the London operations of Bank Mellat and Bank Tejarat, whose public identity has been defined by cross-border banking links and litigation over international sanctions.

• 2013

  European General Court annuls EU sanctions

  [1]Persia International Banken.wikipedia.org

  On 6 September 2013, the European General Court annulled the sanctions, holding that the EU institutions had incorrectly assessed the facts and evidence supporting the measures.

• 2010

  European Union sanctions imposed

  [1]Persia International Banken.wikipedia.org

  The bank became subject to European Union sanctions connected with allegations concerning support for Iran's nuclear and missile programs.

• 2008

  Named in United States sanctions-related watchlist

  [1]Persia International Banken.wikipedia.org

  The United States Department of the Treasury mentioned Persia International among Iranian banks that might have been trading in violation of United Nations Security Council Resolution 1803.

• 2002

  Persia International Bank begins trading

  [1]Persia International Banken.wikipedia.org

  Persia International Bank plc commenced trading in London on 29 April 2002 after the London branches of Bank Mellat and Bank Tejarat were merged.

A specialized London-based banking institution serving international and Iran-related banking needs, with its identity strongly influenced by its ownership structure and sanctions-related regulatory history.

• Banking

  International banking services

  The available material identifies Persia International Bank as an international banking institution based in London. It does not provide a verified catalogue of specific accounts, lending products, payment services, or eligibility conditions. This category therefore describes the bank's documented institutional role rather than a confirmed current product list.

• Commercial banking · 2002

  Corporate and cross-border banking

  The bank was formed by consolidating the London branches of Bank Mellat and Bank Tejarat, indicating a role in serving international banking requirements connected with the two shareholder institutions. Specific corporate facilities, trade-finance products, foreign-exchange services, and correspondent relationships are not documented in the supplied sources.

• 2013

  Challenge to European Union sanctions succeedsOther

  Background

  The European Union had sanctioned the bank from 2010 over allegations that it supported Iran's nuclear and missile programs.

  Action taken

  Persia International Bank challenged the measures before the European courts, and the European General Court annulled them on 6 September 2013.

  Aftermath

  The court found that the EU authorities had incorrectly assessed the facts and evidence supporting the sanctions.

  Source

• 2002

  Merger of the London branches of Bank Mellat and Bank TejaratM&A

  Background

  The London branches of Bank Mellat and Bank Tejarat were combined to create Persia International Bank plc.

  Action taken

  The two banks established a jointly owned London banking institution that commenced trading on 29 April 2002.

  Aftermath

  The merger consolidated the London operations of the two Iranian banks under the Persia International Bank name.

  Source

1. 1Persia International Banken.wikipedia.org