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In 1952, its operations in Iran were terminated, with some of its former business restructured as Bank Bazargani. The remaining activity outside Iran was renamed British Bank of the Middle East (BBME), which in 1959 was purchased by HSBC and in 1999 was renamed HSBC Bank Middle East. Bank Bazargani in turn was reorganized in 1979 following the Iranian Revolution, to become the nucleus of Bank Tejarat.

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