Mehrgan Commercial Bank
| Native name | بانک تجارتی مهرگان |
|---|---|
| Romanized name | Bank-e Tejarati-ye Mehrgan |
| Type | Private banking corporation |
| Industry | Financial services |
| Founder(s) | Rostam Mehrgan |
| Area served | |
| Key people |
|
| Products |
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| Revenue | 890 million Tomāns (1738 AN) |
| Total assets | 2.4 billion Tomāns (1738 AN) |
Mehrgan Commercial Bank (MCB) (Babkhi: بانک تجارتی مهرگان, Bank-e Tejarati-ye Mehrgan) is a Surenid private banking institution headquartered in Surenshahr. Founded in 1714 AN during the post-Third Euran War economic reconstruction, it has emerged as the fourth-largest bank in the Suren Confederacy by assets. The bank specializes in commercial lending and trade finance, with particular focus on supporting the textile, chemical, and light manufacturing sectors.
History
Mehrgan Commercial Bank was established by Rostam Mehrgan, a prominent merchant from the Surenid bazaari class, with initial capital of 50 million Tomāns provided by a consortium of textile manufacturers and bazaar merchants. The bank received its banking license from the Bank of Suren in 1714 AN, becoming one of the first private banks authorized under the 1717 Financial Sector Development Act. The institution initially focused on providing trade finance to merchants operating in the Surenshahr bazaar district.
Expansion Period
Following the 1717 Act for the Bank of Suren, which liberalized certain aspects of private banking, MCB expanded its operations by opening branches in Mehrshahr and Bandar-é Zinjibar. The bank played a significant role in financing the reconstruction of the Kapavia region following the Kapavian insurgency (1715 AN-1717 AN), establishing itself as a key lender to medium-sized industrial enterprises.
Modern Development
In 1730 AN, MCB became one of three private banks authorized by the Committee of Euran Salvation to handle international transactions related to Alexandrium trade. The bank has since developed specialized expertise in financing Alexandrium-related industrial ventures, though this remains a relatively small portion of its overall portfolio.
Operations
MCB operates as a full-service commercial bank focusing on medium-sized enterprises with annual revenues between 10 million and 100 million Tomāns. The bank maintains strict compliance with Harmonious Society Act banking regulations while operating under the supervision of the Bank of Suren.
Corporate Governance
The bank operates under a two-tier board structure as required by Surenid banking regulations. The Supervisory Board, chaired by Bahram Mehrgan, includes representatives from major merchant families and industrial groups. The Management Board, led by CEO Parviz Shirazi, handles day-to-day operations and strategy implementation.
Controversies
In 1729 AN, MCB faced regulatory scrutiny over its lending practices to textile manufacturers during the Bitter Spring period. The bank reached a settlement with the Bank of Suren, paying a fine of 5 million Tomāns while implementing enhanced compliance procedures.
