Saman Financial Group

Saman Financial Group

Other than Saman Insurance, Saman Financial Group consists of eleven subsidiary companies that it has launched or acquired a substantial stake during 2003-2014. These entities operate independently to provide specific services to their clients. The centralized supervisory policies introduced in 2012 bore their fruit in 2013, with a positive influence on the performance and profitability of these companies.

saman bank  Saman Bank

Saman Bank was founded in 2002 and began its work as the 3rd private bank of Iran, 1st financial and credit institute of the country and the 1st member of Saman Financial Group with corporate capital of IRR 200 billion.

Today, Saman’s capital stands at approximately eighty times its original share capital. In 2014, the Bank’s share capital stood at IRR 8000 billion.

Through more than a decade of activity, Saman Bank has pursued one clear goal: to provide innovative services and products to the Iranian banking system. By making huge investments in electronic banking, Saman Bank has played an important role in the development of the electronic banking culture in Iran.

Saman Bank’s determination to revolutionize the traditional Iranian banking system has set many precedents, Saman Bank is: the first Iranian bank to offer an internet banking service in 2002 (this service was upgraded, expanded and launched as NetBank in 2012), the first bank to provide online transfer services in Iran, the first bank to provide online payment services in Iran, the first bank to provide online share trading solutions, the first bank to issue asset-backed Islamic bonds (ijarah sukuk).


kish elc  Saman Kish Electronic Payment Company

Saman Kish Electronic Payment Company was founded in 2003 with a capital of IRR 100 million. It is responsible for Saman Bank’s key customer-facing electronic systems, including ATMs, self-service kiosks, e-banking and POS solutions. Another key development has been the expansion of the computer and telecommunications infrastructure to offer e-commerce services.

In the financial term ending 21 December 2013, the company created IRR 729,461 million in revenues, making a net profit of IRR 244,421 million. Major achievements during the reported year include securing the first rank in SHAPARAK system performance, out of 12 PSP companies; the electronic ticket project in Tabriz; and achieving the second rank in the Iranian market in transaction per card reader index.

satellite  Saman Satellite Communications Group (Saman SCG)

Established in 2004 with a capital of IRR 500 million, Saman SCG provides data transfer, satellite telecommunications and satellite teleports. It increased its capital in 2005, 2007 and 2011 to IRR 20 billion, IRR 54 billion and IRR 81 billion respectively. In the financial term ending 21 December 2013, it achieved revenues of IRR 154,399 million and a net profit of IRR 33,022 million. SCG received the First Grade Award of Excellence from the Iranian Communications Regulatory Authority in 2013 and is the only Iranian company to have received this prestigious award for three consecutive years. Other achievements during 2013/14 included the Award for Best SAP Operator at the National ICT Festival, and Best ICT Service Exporterin Tehran Province, as recognized by Tehran Chamber of Commerce, Industries and Mines.

exchange  Saman Exchange Company

Saman Exchange was founded in 2004, with a share capital of IRR 50 billion, to provide a full range of foreign exchange and international payment services. It was the first foreign exchange company to be registered in Iran as a subsidiary of a privately owned bank. In 2013/14, it was decided to increase the capital to IRR 219 billion. This is planned for next year.  The company generated a net profit of IRR 43,717 million during 2013/14.

The foreign currency orders in the regulated rate grew by 136%, from USD 799 million in 2012/13 to USD 1,838 in 2013/14. The non-regulated rate orders also increased, from USD 635 million to USD 772 million ,i.e., 21% growth. As a result of this volume of currency exchange, Saman Exchange secured the second rank among the 44 bank-owned exchange companies in Iran.

brokerage  Saman Brokerage Company

Kerishchi Brokerage Company was originally established in 1993 as the first brokerage firm in Iran. It was renamed Saman Brokerage Company in 2006 when Saman Bank purchased 49% of its shares. The company provides a wide range of brokerage, underwriting and consultancy services, including futures trading, portfolio management, market-making and investment advisory services. At present, Saman Brokerage Company has a capital of IRR 30 billion (equivalent to 30 million shares at IRR 1000 each).

A major achievement in 2013/14 was the improvement of its rank in the Commodities Exchange List, from 73rd to 23rd member company. A seven-fold increase in the financial turnover of its customers (mainly real entities) in the stock exchange during 2013/14 is testament to the brilliant performance of Saman Brokerage Company during the reported year.

credit  Iranian Credit Bureau and Scoring Company

Registered in 2007 with a share capital of IRR 100 million, the Iranian Credit

Bureau and Scoring Company provides credit-scoring services under an Experian license. The Iranian Credit Scoring System was introduced to the Saman Bank branch network in early 2012 and currently operates using credit reporting as well as individual and corporate credit-scoring tools. The company’s current capital stands at IRR 49,420 million. For the financial term ending 21 December 2013, the company earned IRR 11,885 million in revenue and IRR 747 million in net profit. Creating a debt collection unit and monitoring the claims of Saman Exchange Company are among the achievements of this company during 2013/14.

processing  Saman Processing Company

The Saman Processing Company was created in 2011 to design, develop and support core banking-based products and tools required by the bank. Saman Processing Company also designs and develops comprehensive business systems, business procedure re-engineering systems (BPR) and management advisory services, as well as overseeing the utilization of modern banking technologies. This is in addition to mechanizing administration systems and operating these systems. In 2013/14, the company’s registered capital increased from IRR 35 billion to IRR 50 billion. It generated IRR 42,867 million of revenue and a net profit of IRR 11,794 million during 2013/14. In the same year, Saman Processing Company acquired the Grade 2 ranking in software from the High Council of Informatics. Further achievements during 2013/14 include a rise in ranking from 5 to 4 for the hardware section, and reception of a certificate of registration from the High Council of Informatics for five software programmers developed by Saman Processing Company.

tondar  Tondar Noor Software Company

Tondar Noor was established in 1990 and registered with the Companies Register in 1994. Saman Processing Company acquired the ownership of Tondar Noor in 2010. This company is active in import, design, production, support and development of hardware products especially banking card readers. In 2013/14, its capital was IRR 2,700 million 100% of which belongs to Saman Processing Company and its operations during the said year generated IRR 14,303 million in revenues. Procurement and support of hardware and planning for import of card readers are among the achievements in the reported year.

aftab  AftabTejarat Saman Servicing Company

The AftabTejarat Saman Servicing Company was established in 2011 with a share capital of IRR 100 million. Its primary purpose was to handle the administrative tasks for casual workers providing a service to Saman Group. In 2013/14 this Servicing Company generated revenue of IRR 47,354 million, making a net profit of IRR 4,360 million.

adonis  Adonis Electronic Services Company

Adonis was launched in 2012 with an initial capital of IRR 20 billion to provide sale and after-sale services for electronic systems, in particular ATM systems. Pasargad and Mellat banks joined as shareholders later. Adonis is a subordinate company to Saman Processing Company, which owns 26.88% of its shares.

Adonis has so far supplied 2,025 ATM machines to the Iranian market, under the Eastcom brand name, and is responsible for the technical support for 4,700 Wincor and Eastcom ATMs and 1,300 NCR ATMs. This company generated revenues of IRR 511,364 million and a net profit of IRR 46,032 million during 2013/14.

kardan  Kardan Company

With the cooperation of Saman bank, Tejarat Bank and the Middle East Bank, based on a license from the Higher Council of Stock Exchanges and the agreement of the Central Bank of Iran, Kardan Company was established by Saman Bank and incorporated in 2013. The purpose of Kardan is investment, corporate finance and lending. The registered capital is IRR 2000 billion, and Saman owns 638,333,000 shares equal to 32.81% ownership.

Kardan Company benefits from the competitive advantage of three commercial banks (its main shareholders) and its extensive international finance knowledge and experience, and as such is in a strong position for offering excellent customer service and paving the way for international corporations into the Iranian markets.