Export Development Bank of Iran (EDBI; , 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.
Overview 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.
Access to the Sovereign Wealth Fund 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.
Key financial data (Consolidated) + Financial data(IRR million) Financial Year End 20.03.2024 20.03.2023 20.03.2022 20.03.2021Total Assets 1,934,502,667 1,179,678,954 1,040,943,171 937,459,144Total Liabilities 1,558,666,287 938,156,814 832,539,363 758,070,391Shareholders' Equity 375,836,380 241,522,140 208,403,808 179,388,753Net Profit 38,824,637 20,061,798 13,266,440 22,511,850 1USD= IRR 401,887
International sanctions After 16 January 2016, which marks Implementation Day of the JCPOA, also known as Iran's Nuclear Deal, Export Development Bank of Iran (EDBI) is not 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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