Bank Mellat was established on 1979/12/20 by virtue of the resolution dated 1979/9/29 adopted by the General Assembly of Banks and pursuant to the provision of article 17 of the Bill on administering the Banks, with a paid up capital of Rls 33.5 bn as a merger of ten pre-revolution private banks comprising: Tehran, Dariush, Pars, Etebarat Taavoni& Tozie, Iran& Arab, Bein-al-melalie-Iran, Omran, Bimeh Iran, Tejarat Khareji Iran and Farhangian. Currently, the bank's capital amounts to Rls 40000 bn and is one of the largest commercial banks in the Islamic Republic of Iran, ranking among the top 1000 banks of the world.