Bank Sepah (Persian: بانک سپه‎‎), the first Iranian bank, was established in 1925 (corresponding to 1304 in the Iranian Calendar). Its first branch, in Rasht, opened that year.The bank also has branches in Frankfurt, Paris and Rome as well as a subsidiary, Bank Sepah International plc, in London. "Sepah" is the poetic Persian rendering for "Army". The Bank was named so because its capital was provided by the Army Pension Fund.