Bank Pasargad No. 430 Mirdamad Blvd., Tehran 1969774511, Iran Tel: (+9821) 82891575; Fax: (+9821)...

Bank Pasargad

No. 430 Mirdamad Blvd., Tehran 1969774511, Iran

Tel: (+9821) 82891575; Fax: (+9821) 88649521

Website: www.bankpasargad.com

Swift: BKBPIRTH

The Millennium BankJanuary 2011

http://www.bankpasargad.com/

Table of ContentThe Millennium Bank

BANK PASARGAD

5 Introduction

8 Shareholders

6 Vision and Mission

19 Subsidiaries and Affiliates

20 Human Capital

24 Overview of Bank Pasargad's Financial Results

33 Key Performance Measures

40 Foreign Exchange Operations

18 Electronic Banking Services

13 Executive Board of Directors

3 Summary Timeline of Bank Pasargad’s Establishment

22 Public & Educational Activities

16 Extensive Network of Bank Pasargad’s Geographic Coverage

10 Facts and Figures

9 Organization Chart

21 Human Capital Training Courses

25 Bank Pasargad’s Competitive Advantages

11 Awards & Achievements

License for international banking operations was granted as per category I & II of CBI’s circular No. 1096/MB.

License for full international banking operations granted by the CBI

Bank Pasargad registered with the Companies Registrar Office in Tehran (Registration No. 254300)

Initial Public Offering (The IPO) of Bank Pasargad's stock, was received very well by the public so that the initial intended capital was fully subscribed in less than 2 hours and after consulting with the Central Bank of The Islamic Republic of Iran (CBI) the decision was made to continue the offering up to the close of the same day

Establishment of Pars Aryan Holding Co. as the founder and major shareholder of Bank Pasargad

Start up of the first branch.

Banking operation's license No. H/2849 granted by the CBI

June 2005

13th Dec 2005

2nd Aug 2005

4th Sep 2005

13th Sep 2005

12th Dec 200612th Dec 2006

Summary Timeline of Bank Pasargad's EstablishmentBANK PASARGAD

7th Feb 2006

3

Inauguration of The Bank.14th Sep 2005

The Millennium Bank

Bank Pasargad’s Major Shareholder

Preparation of the legal and administrative procedures for presentation of Bank Pasargad’s shares in I.P.O. market was the first step taken by Pars Aryan, after which, Pars Aryan acted as the main market maker for Bank Pasargad’s shares and other affiliates in Bank’s OTC market.

Pars Aryan Investment Co. (Plc) was initially incorporated under the name of “Minoo Industrial Group Investment Co., (Ltd)” on Oct 2nd ,2002 . In June 2005 the company was taken over by founders of Pasargad Financial Group as first step in establishment of “Bank Pasargad”, the biggest private bank in Iran.

BANK PASARGAD

4

Pars Aryan Investment Company (founder), holding 29.70% of Bank Pasargad’s share ,is a private investment company whose shareholders come from all sectors of economy and diversified classes such as private individuals, investment companies, pension funds, EPC companies, Building/Construction Societies, auto industry, professional people namely top elite physicians, university professors and lawyers, whose presence as some of the founders was a value to the group.

The initial capital of the Pars Aryan Investment Co. at the time of take over was 1,000 billion IRR and now it is increased up to 2760 billion IRR.

The Millennium Bank

Introduction

Market Share of more than 5% in Iran’s banking system in less than 4 years

Market Share of 20% among Iranian private banks, 4 of them established 5 years earlier

Dec 2005 Started activity as the 6th Iranian private bank

July 2009 Promoted to stand as the 1st Iranian private bank

Target for 2013 Is planned to be the 1st bank in the Middle East

Bank Pasargad as a full licensed bank provides all banking services in local and foreign currency in compliance with international and local rules and regulations to her distinguished clients. The bank's reputation of quality services and performance in line with the international principles and world's high banking standards, have resulted in several achievements namely:

Bank Pasargad as the fastest growing private bank:

BANK PASARGAD

5

The Millennium Bank

We, at Bank Pasargad strive to reach our strategic goal and attain a position within the top 500 companies in the globe, as the bank of the choice, agent of change and the leader in our community and selected markets.

We will do so by:

Vision & Mission

Our Vision

Upgrading the standards for service delivery and value creation in banking industry

Being influential in enhancing the standards of development of our industry.

Providing solutions that consistently meet or exceed the needs and aspirations of our Community and Customers.

6

BANK PASARGADThe Millennium Bank

Providing the highest quality Islamic banking solutions.

Arranging a variety of sophisticated commercial and merchant banking products and services for our clients.

Offering private banking and asset management services for clients as well as conducting efficient trading, investment and treasury activities, through our in house specialized banking services, or through our more than 40 subsidiaries.

Creating sustainable shareholders wealth by means of business growth and management efficiency.

Providing a challenging and pleasant business environment for our dedicated colleagues.

Observing prudential standards and standing accountable to our community and environment by sponsoring the professional and educational programs, sports activities, benevolent contributions and so far.

Our Mission

Vision & Mission

Maximizing the added value for our clients, shareholders, community, and our staff alike through:

7

The Millennium BankBANK PASARGAD

Bank Pasargad's Shareholders

Bank Pasargad is a private bank with the common shareholders who are of private sector and

individual public. Major shareholders and their respective holdings by Nov 2010 were as follows:

Shareholders' Structure

BANK PASARGAD

Type No. of Shareholders No. of Shares (Million) % Ownership

Real Persons 44,377 6,246 27.04

Legal Entities 205 16,854 72.96

Total 44,582 23,100 100

8

20%

5.36%3.8%

70.81%

Pars Aryan Investment Co.

Kharazmi Investment co.

Hamyari Kowsar

Others (less than 5%)

The Millennium Bank

9

Legal Inspector

General Assembly

Audit Committee

Supervisory Risk Management Committee

Nomination Committee

Strategy Committee

Executive Board Committee

Assets & Liabilities Management Committee

Credit Committee

Innovation Committee

Marketing & Advertisement Committee

Technology & IT Committee

Secretary & Counselors

Management Office

Credit Risk Committee

Market Risk Committee

Liquidity Risk Committee

Operational Risk Committee

Credit s & Loans

Investment & Participation

Affairs

Trade Finance

International AffairsFinance ITCorporate

PlanningBranch AffairsLogistics

Human Capital

Internal Audit & Inspection

Public Relations

Corporate Banking

Legal Affairs

Executive Board MemberExecutive Board MemberExecutive Board MemberExecutive Board MemberExecutive Board Member

Board of Directors

Executive Risk Management Dept.

Credit Risk Assessment Unit

Market Risk Assessment Unit

Liquidity Risk Assessment Unit

Operational Risk Assessment Unit

Managing Director

Organization Chart BANK PASARGADThe Millennium Bank

10

Facts and FiguresBANK PASARGAD

Capital Changes Billion IRR Total (Billion IRR)

Initial Capital (2005) 3,500 3,500

1st Capital Increase (2007) 1,750 5,250

2nd Capital Increase (2008) 1,750 7,000

3rd Capital Increase (Nov 2009) 700 7,700

4th Capital Increase (Nov 2010) 15,400 23,100

Capital Changes:

The Millennium Bank

Our Unique Success in the History of Iranian Economy: We increased our paid up capital from USD 770 million to USD 2.3 billion through an

IPO on Nov 1st 2010.

Awards & AchievementsBANK PASARGAD

Our World Ranking Among Top 1000 Banks in The Banker

Highest Profit Increase among Iranian Banks

No.1 Iranian Private Bank by Tier 1 Capital

Winner of the Banker’s Bank of the Year Award 2010 in Iran

29th Among Top 100 Iranian Companies as per latest assessment made by Iran's Industrial Management Institute in fiscal year 2008.

Ranked as 574th as per Banker’s issue of July 2009, based on March 2008 financial figures which was also used in last year’s ranking. While our ranking based on March 2009 figures, would be as the 488th bank.

11

The Millennium Bank

Ranked as 435th in July 2010

Awards & AchievementsBANK PASARGAD

Bank Pasargad’s financial figures were incorrectly Stated in the Banker’s July 2009 issue.Here is the Banker’s correction and apology In its September issue:

12

The Millennium Bank

Executive Board of DirectorsBANK PASARGAD

The Millennium Bank

Board Member Vice Chairman & Managing Director Ex Governor of the Central Bank of Islamic Republic of Iran

Tel: (+9821) 82891001 ; Fax: (+9821) 88649521 ; Email: [email protected]

Mr. Majid Ghassemi

Board Member Board Member of Chief Executive Officers, in Charge of Bank’s Branches & Planning Affairs

Tel: (+9821) 82891012 ; Fax: (+9821) 88649234 ; Email: a.vadidar @bankpasargad.com

Mr. Ahmad Vadidar

13


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Board Member Board Member of Chief Executive Officers, in Charge of Financial & IT Affairs

Tel: (+9821) 82891019 ; Fax: (+9821) 88649234 ; Email: [email protected]

Mr. Zabihollah Khazaei

Board Member Board Member of Chief Executive Officers, in Charge of International Banking Affairs Tel: (+9821) 82891011 ; Fax: (+9821) 88649234 ; Email: m.beheshti @bankpasargad.com

Mr. Mostafa Beheshtirouy

14


The Millennium Bank

Board Member Board Member of Chief Executive Officers, in Charge of Loan & Credit Affairs

Tel: (+9821) 82891017 ; Fax: (+9821) 88649234 ; Email: m.sedaghat @bankpasargad.com

Mr. Mohammad Reza Sedaghat Tafreshi

Board Member of Chief Executive Officers, in Charge of Bank’s Logistic Affairs Tel: (+9821) 82891015 ; Fax: (+9821) 88649234 ; Email: gh.vahidnia @bankpasargad.com

Mr. Gholam Hossein Vahidnia

15

Extensive Network of Bank Pasargad's Geographic Coverage

Map of Iran with Bank's Branches located on it

BANK PASARGAD

16

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Number of Branches

Bank Pasargad has been quite successful in expanding its network of

branches in such a short period of time since its inception.

Bank Pasargad’s number of branches have increased from 150 in 2007 to 236 by Nov 2010

Item 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 Jan 2011

No. of Branches

25 82 150 202 233 242

BANK PASARGAD

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The Millennium Bank

2006-20052007-2006

2008-20072009-2008

2010-2009 Jan 20110

50

100

150

200

250

SMS Banking Services

Online Banking Services

Electronic Banking ServicesBANK PASARGAD

Telephone Banking Services

Email Banking Services

Mobile Banking Services

Cash Card Student Card Gift Card

Family Card Shopping Card (voucher card)

Joint Card

Health Card

Credit Cards

Card Services Include:

Debit Cards

The Millennium Bank

Virtual Banking Services

18

Subsidiaries and Affiliates

Bank Pasargad’s financial group consists of the bank and a series of subsidiaries, active in the

major fields of:

Insurance

Stock Brokerage

Investment

Machinery leasing

Mining Industry

Energy

Construction Leasing

Construction Industry

Pars Aryan Investment PLC, as the group's parent company is responsible for control and management of the financial group. The following table shows the banks main subsidiaries and affiliates in order of their ownership as March 2010 fiscal year .

Some of the CompaniesBank's Share

% Million IRR

Saman Sakht Aryan Co. 99.90 599,400

Pasargad Arzesh Afarinan Co. 97.99 979,952

Bank Pasargad Leasing Co. 67 201,000

Hashtom Urbanization and Construction Co. 67 100,500

Bank Pasargad Electronic Payment Co. 67 36,850

Bank Pasargad Brokerage Co. 60 30,000

Bank Pasargad Financial and Investment Services Co. 49 49

Pasargad ICT Co. (FANAP) 49 4,900

Modaberan Sakht Aryan Co. 45 270,000

Middle East Mabna Co. 43.14 196,361

Pasargad Insurance Co. 20 83,700

Middle East Mines & Mineral Industries Development Holding Co.

19.90 250,898

Bank Pasargad Machinery & Equipment Leasing Co. 18 18,115

Pasargad Mass Construction Development Co. 5 2,500

Pasargad Energy Development Co. 4 2,000

Pasargad Exchange Co. 70 35,000

Iranian Etekayi Insurance Co. 4 30,000

Total Investment 2,841,225

BANK PASARGAD

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Bank Pasargad's Human Capital

As part of our strategic goals, we, at Bank Pasargad, pay special attention to employing highly qualified human capital. Table below demonstrates Bank's human capital separately for the Headquarter and the Branches according to their qualifications.

Bank Pasargad's total number of human capital increased by 14% from 2009 to 2010, mostly having university graduates and post graduates. Bank's total number of employees counts to 2,630 by fiscal year end March 2010.

Human Capital

BANK PASARGAD

20

Total

M F

967 1,166

9 0

5 0

414 50

1,394 1,216

2,630

53 47

The Millennium Bank

Post Graduate Graduate Associate Degree

Work Experience M F M F M F

0-10 years 51 50 861 1,114 55 2

10-20 Years 3 0 3 0 2 0

20-30 Years 4 0 1 0 0 0

Over 30 Years 23 6 106 13 301 35

Subtotal 81 56 971 1,127 358 37

Total 137 2,098 395

% 59 41 46 54 91 9

BANK PASARGAD

21

Human Capital Training Courses

In order to upgrade the colleagues with latest changes in the banking industry and to elevate their knowledge and skills, Bank Pasargad conducts numerous in house training courses on :

This would of course lead to creativity and better management by our colleagues in providing services and handling various tasks.

Islamic Banking

Credit Analysis & Credit Rating

Foreign Exchange Operations

Trade Finance

UCP & ISBP

Organizational Behavior

AML/KYC

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22

Public & Educational ActivitiesBANK PASARGAD

Granting scholarship to first, second and third ranked applicants of the university entrance examinations each year.

Establishment of Contemporary Visual Arts’ Museum on Oct 2009.

Organizing athletic contests ,and sport events within the banking industry.

Supporting national sport teams in international tournaments.

Conduction of training sessions for customers to acquaint them with effective use of E-Banking services .

ACCA training within the pasargad group

The Millennium Bank

ACCA Training within Pasargad GroupBANK PASARGAD

- To enhance level of experience among our colleagues

- To create admissible job opportunities in Iran’s financial market

- To offer training courses to other industries as a public training centre in Iran and the

Middle East.

Signing cooperation plan with ACCA and getting its approval by the Board of Directors

on 2nd April 2008.

Setting up an executive committee of 7 top professional consultants to manage and

implement the ACCA educational project.

Preparation of policies and procedures in accordance with ACCA standards.

Choosing 14 qualified students out of 350 applicant colleagues.

Initiation of F1 to F3 courses.

Objectives:

23

Activities:

The Millennium Bank

Overview of Financial Results

BANK PASARGAD

Ex. rates: USD 1= IRR 9834 (20th March 2010); IRR 9717 (20th March 2009); IRR 8956 (19th March 2008); IRR 9243 (20th March 2007) ; IRR 10299 ( Sep 2010) ; IRR 10357 (Jan 2011)

BANK PASARGAD

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Competitive Advantages

Among Bank Pasargad's outstanding advantages are:

High quality products and superior services

Dedicated, talented and experienced human capital

Geographically diversified network of branches, which enables supporting customers’ needs nationwide

Issuing various credit and debit cards for different purposes

Training sessions conducted to acquaint the bank's customers with effective use of electronic services

BANK PASARGAD

25

The Millennium Bank

Total Assets Growth

20th Jan 2011

2009-2010(fiscal year)





Index(Million IRR)

169,100,379 122,632,927 95,025,056 56,965,020 22,074,487 4,675,594 Total Assets

38 29 66.8 158.1 372.1 Growth %

Total Assets (Million IRR )

In the relatively short span of time, since Bank Pasargad's commencement of activities, i.e. nearly 4 years ago, it has been experiencing steady growth every year.

BANK PASARGAD

26

The Millennium Bank

2006-2005 2007-2006 2008-2007 2009-2008 2010-2009 Jan 2011

0

20,000,000

40,000,000

60,000,000

80,000,000

100,000,000

120,000,000

140,000,000

160,000,000

180,000,000

4,675,594

22,074,487

56,965,020

95,025,056

122,632,927

169,100,379

Total Assets' GrowthTotal Liabilities GrowthBANK PASARGAD

20th Jan 20112009-2010

(fiscal year)2008-2009




(fiscal year)Index

(Million IRR)

140,092,766 109,979,215 84,895,130 49,868,529 17,736,591 1,136,366 Total Liabilities

27 29 70 181 1460 Growth %

Total Liabilities (Million IRR)

27

The Millennium Bank

2006-2005 2007-2006 2008-2007 2009-2008 2010-2009 Jan-11

0

20,000,000

40,000,000

60,000,000

80,000,000

100,000,000

120,000,000

140,000,000

160,000,000

1,136,366

17,736,591

49,868,529

84,895,130

109,979,215

140,092,766

Assets and Liabilities Structure

Liabilities Combination as of 20th March,2010Assets Combination as of 20th March, 2010

BANK PASARGAD

28

The Millennium Bank

1%10% 11%

8%

62%

3%2% 2% 1%

Cash Due from Central Bank

Inter-banks Accounts Participation Certificates

Credit Facilities Granted Accounts Receivable

Investments Fixed Assets

Intangible Assets

2% 4%

88%

3%

1%1%

1%

Due to Central Bank Call Deposits

Term Deposits Other Deposits

Interest Payable (Depositors) Saving Deposits

Other Liabilities and Accruals

Assets and Liabilities Structure

Liabilities Combination as of 20th Jan 2011Assets Combination as of 20th Jan 2011

BANK PASARGAD

29

The Millennium Bank

4%9%

12%

7%

61%

4%2%

1%

Cash Due from Central Bank Inter-banks Accounts

Participation Certificates Credit Facilities Granted Accounts Receivable

Investments Fixed Assets

3%

87%

4%1% 5%

Call Deposits Term Deposits Other Deposits

Saving Deposits Other Liabilities and Accruals

Total Owners’ Equity Growth

Shareholders’ equity growth has been remarkable.

In March 2006, only a few months since its establishment, Bank Pasargad posted its shareholders’ equity at over USD 380 millions.

During the next fiscal year (the bank's first full year of activity) shareholders' equity grew by 22% to more than USD 469 millions.

This trend continued throughout 2007 so that in its second full fiscal year of activity, ending in March 2008, the results rose by upwards of 63% to over USD 792 millions and in September 2009, by 49% increase reached USD 1,074 millions.

Bank Pasargad increased its paid up capital to 23,100 billion IRR by November 2010.

Finally the decision was made by virtue of the agreed minutes at an Extraordinary General Meeting held in May 2009, to increase the banks paid up capital from 7,000 billion IRR to 36,036 billion IRR (approximately USD 3 billions)within the next three years.

BANK PASARGAD

30

The Millennium Bank

Total Owners’ Equity Growth

Total Owners’ Equity (Million IRR)

BANK PASARGAD

31

The Millennium Bank

2006-2005 2007-2006 2008-2007 2009-2008 2010-2009 Jan-11

0

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

30,000,000

3,539,228

4,337,896

7,096,491

10,129,926

12,653,712

29,007,612

Credit Facilities Granted

20th Jan 20112009-2010





(fiscal year)Index

(Million IRR)

102,704,576 76,044,776 64,016,463 39,767,517 11,274,878 1,125,087 Credit Facilities Granted

35 19 61 253 902 Growth %

Credit Facilities Granted ( Million IRR)

BANK PASARGAD

32

The Millennium Bank

2006-2005 2007-2006 2008-2007 2009-2008 2010-2009 Jan-11

0

20,000,000

40,000,000

60,000,000

80,000,000

100,000,000

120,000,000

1,125,087

11,274,878

39,767,517

64,016,463

76,044,776

102,704,576

Key Performance Measures

Performance 20th March 2007

19th March 2008 20th March 2009 20th March 2010 20th Jan 2011

Operating Income( Million IRR ) 2,140,040 6,746,680 12,963,796 19,979,181 20,825,093

Profit before Tax( Million IRR ) 857,368 1,679,670 2,446,123 3,548,255 5,706,252

Total Equity( Million IRR ) 4,337,896 7,096,491 10,129,926 12,653,712 29,007,612

Profit before Tax (Million IRR)Operating Income (Million IRR)

BANK PASARGAD

33

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Jan-11

Mar-10

Mar-09

Mar-08

Mar-07

5,706,252

3,502,206

2,446,123

1,679,670

857,368

Jan-11

Mar-10

Mar-09

Mar-08

Mar-07

20,825,093

19,979,181

12,963,796

6,746,680

2,140,040


Dividend per Share (DPS)

BANK PASARGAD

34

Earning per Share (EPS)

The Millennium Bank

Mar-10

Mar-09

Mar-08

Mar-07

IRR 300

IRR 220

IRR 200

IRR 175

Performance 20th March 2007

19th March 2008

20th March 2009

20th March 2010 20th Jan 2011

Earning Per Share (EPS) IRR 228 IRR 310 IRR 335 IRR 437.9 IRR 185

(ROE) Return on Equity 18.41% 22.91% 23.15% 26.65% 14.75%

(DPS) Dividend Per Share IRR 175 IRR 200 IRR 220 IRR 300 -

Return on Assets (ROA) 3.62% 2.85% 2.47% 2.75% 2.53%

(Million IRR )Capital Adequacy Ratio 28.29% 18.02% 15.87% 16.26% 20.90%

Jan-11

Mar-10

Mar-09

Mar-08

Mar-07

IRR 185

IRR 438

IRR 335

IRR 310

IRR 228


Capital Adequacy Ratio Return on Equity (ROE)

BANK PASARGAD

35

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Mar-07 Mar-08 Mar-09 Mar-10

28.29%

18.02%15.87% 16.26%

Mar-07 Mar-08 Mar-09 Mar-10

18.41%

22.91%23.15%

26.65%

Financial Ratios:

IndicesMarch 2009

March 2010

January 2011

Capital Adequacy Ratios

Capital Adequacy 15.87% 16.26% 20.90%

Equity to Assets 10.66% 10.31% 17.15%

Facilities Granted to Equity 6.47 6.26 3.54

Deposits To Equity 8 8.3 4.57

Liquidity Deposits to Assets 85% 86% 78.5%

Asset Quality Facilities Reserves to Total Facilities Granted Ratio 2.32% 3.99% 4.43%

Performance Ratios Return on Assets 3.08% 3.09% 2.53%

Facilities CompositionFacilities Granted to Total Deposits 81% 75% 77.38%

Facilities Granted to Total Assets 69% 64% 60.73%

Growth

Assets Growth 67% 29% 38%

Deposits Growth 69% 31% 25.73%

Facilities Growth 62% 21% 35%

Total Income Growth 93% 54% -

Net Profit Growth 44% 44% -

Efficiency Indices (Million IRR)

Per Capita Income 6,547 8,085 -

Deposits to Human Capital 34,932 40,137 47,201

Facilities Granted to Human Capital 28,345 30,116 36,523

The following table presents Bank Pasargad's main financial ratios:

BANK PASARGAD

36

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Deposits

Description 20th March 2008 20th March 2009 20th March 2010 20th Jan 2011

Total (Million IRR)

48,897,965 80,761,865 105,560,714 132,730,825

20th Jan 2011

20th March 2010

20th March 2009

20th March 2008

Type

4,504,833 4,928,493 3,613,347 4,349,395 Call Deposits

938,434 921,720 368,236 167,845 Saving Deposits

121,922,53096,751,64

973,664,318 43,028,466 Term Deposits

5,365,028 2,958,852 3,115,964 1,352,259 Other Deposits

Deposit Structure

(Million IRR)

Total Deposits Growth(Million IRR)

Total deposits stood at 105,560,714 Million IRR as of 20th March, 2010 compared to 80,761,865 Million IRR of the previous year, showing an increase of 31 percent.

BANK PASARGAD

37

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2008-2007 2009-2008 2010-2009 Jan-11

0

20,000,000

40,000,000

60,000,000

80,000,000

100,000,000

120,000,000

140,000,000

48,897,965

80,761,865

105,560,714

132,730,825


Foreign Exchange Major Operations

Bank Pasargad was granted license for full foreign exchange operations by CBI on 12th December 2006.

By fiscal year end 2009, 82 branches of Bank Pasargad's extensive network of branches participated in providing various foreign currency exchange services and all branches accepted applications for letters of guarantees and documentary credits.

Considering its short term of activity in foreign exchange operations, Bank Pasargad has managed to establish correspondent relationships with 250 banks and financial institutions around the world, out of which, 140 are actively supporting the bank's global business.

This ,in turn, has further facilitated providing superior services to customers as well as improving the accuracy and quality of operations.

BANK PASARGAD

38

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Bank Pasargad's foreign exchange operations include:

Issuing documentary credits

Documentary bills of exchange (Collections)

Advise and negotiation of export documentary credits

Issuance of letter of guarantee in foreign currency

Trade Finance and project financing

Handling inward and outward payment orders in foreign currencies.

Collection of bills/cheques in foreign currency.

Opening and maintenance of individual and corporate accounts in hard currency.

BANK PASARGAD

39

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In 2011, Bank Pasargad experienced tremendous improvement in the following tasks: absorbing hard currency deposits, foreign exchange, hard currency transfers, import and export documentary credits, IRR local currency documentary credits, and hard currency guarantees, especially ones regarding commodity exports.

Summary of the foreign exchange services rendered by Bank Pasargad is depicted in the following table:

Description March 2007 March 2008 March 2009 March 201020th Jan

2011

Sight L/C 62,094 387,438 628,933 255,505 753,408

Deferred Payment L/C 119,594 240,738 500,817 684,065 1,727,484

Refinance L/C 38,158 311,854 393,760 272,665 900,328

Total Import L/C 219,846 940,030 1,523,510 1,212,235 3,381,212

Import Documentary Bills of Exchange - 36,985 97,696 86,486 66,932

Export L/C 281 54,591 115,880 91,977 22,711

Internal L/C (IRR billion) 543 1,695 2,853 1,682 2,631

Guarantees Issued 12,247 26,250 86,712 242,000 256,843

Inward Payment Orders 32,648 77,542 626,737 1,195,609 818,573

Outward Payment Orders 339 37,094 240,252 831,784 1,729,835

BANK PASARGAD

40

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(USD 1000)

Total Import LCs (USD 1000)


Total Export L/C (USD 1000)

BANK PASARGAD

41

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2008-2007 2009-2008 2010-2009 Jan-11

0

20,000

40,000

60,000

80,000

100,000

120,000

54,591

115,880

91,977

22,711

2008-2007 2009-2008 2010-2009 Jan-11

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

940,030

1,523,510

1,212,236

3,381,212


Payment Orders (USD 1000) Guarantees Issued (USD 1000)

BANK PASARGAD

42

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2007-2006 2008-2007 2009-2008 2010-2009 Jan-11

0

50,000

100,000

150,000

200,000

250,000

300,000

12,247

26,250

86,712

242,000

256,843

2007-2008 2008-2009 2009-2010 Jan-11

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

1,800,000

77,542

626,737

1,195,609

818,573

37,094

240,252

831,784

1,729,835

Inward Payment Orders Outward Payment Orders

International Affairs Director Foreign Exchange Operations Director

Mr.Mohammad Amir Davoud Mr. Sadegh Pourasghari Tel: 0098 21 82891575 Tel: 0098 21 82891221 Fax: 0098 21 88649521 Fax: 0098 21 88649501 E-mail: [email protected] E-mail: s.pourasghari@bankpasargad

Treasury Payment Orders Tel: 0098 21 82891230 Tel: 0098 21 82891235 E-mail: [email protected] Tel: 0098 21 82891243 E-mail: [email protected] E-mail: [email protected]

Correspondent Banking Guarantees

Tel: 0098 21 82891579 Tel: 0098 21 82891240 E-mail: [email protected] E-mail: [email protected]

Key ContactsBANK PASARGAD

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The Millennium Bank

Bank Pasargad No. 430 Mirdamad Blvd., Tehran 1969774511, Iran Tel: (+9821) 82891575; Fax: (+9821)...

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Transcript of Bank Pasargad No. 430 Mirdamad Blvd., Tehran 1969774511, Iran Tel: (+9821) 82891575; Fax: (+9821)...