Evaluation and ranking of the banks and financial institutes using fuzzy AHP and TOPSIS techniques

The main purpose of this is to evaluate and rank the credit/financial institutes of Tehran stock market. The criteria were determined based on prior research and securities stock market literature and also based on the factors taken into account in stock selection. After screening the criteria and through holding interview with experts, eight criteria were finally chosen. Using fuzzy analytic hierarchical analysis (FAHP), relative weights were calculated for each criterion and ultimately based on these weights, banks were ranked using technique for order preference by similarity to an ideal solution method (TOPSIS). The results revealed that Bank Pasargad, Karafarin Bank and Day Bank ranked first, second, and third respectively. The obtained results could serve as guidance for investors from one hand and the owners of the survey institutions and banks on the other hand to take necessary measures in accomplishing their objectives. This evaluation and ranking model has significant applied potentials in shares investment of a company among other similar companies in the context of Iran.