TEHRAN (IRNA) -- Sarmayeh Bank Iran (SBI) will establish branches in some foreign countries, managing director of SBI said on Saturday.

Bahauddin Hosseini Hashemi stated that the branches will be established in the Netherlands, United Arab Emirates and Tajikistan in the near future.
Noting that some 51 percent of the bank's shares belong to SBI, he said that bank's managing director is appointed by the SBI.