Bank Pasargad
{{Short description|Iranian bank}}
Bank Pasargad ({{langx|fa|بانک پاسارگاد}}, Bānk-e Pāsārgād), also known as BPI, is a major Iranian bank offering retail, commercial and investment banking services. The company was established in 2005 as a part of the government's privatization of the banking system.{{cite web|url=http://en.bpi.ir/?en.history |title=History of Bank Pasargad - :: Pasargad Bank |publisher=En.bpi.ir |access-date=2012-07-08}}
{{coord|35.7622|51.4158|region:IR_type:landmark|display=title}}
{{Infobox company
| name = Bank Pasargad
| logo =
| logo_size =
| type = Public
| traded_as = TSE: [http://www.tse.ir/en/ShowIns.aspx?ins=9536587154100457 BPAS1]
ISIN: IRO1BPAS0008
| foundation = 14 December 2005
| founder =
| location_city = Tehran
| location_country = Iran
| location = 430 Mirdamad Boulevard
| locations = 327 branches across Iran
| area_served = Iran
| key_people = Kazem Mirvalad
{{small|(Chairman)}}
Majid Ghassemi
{{small|(CEO)}}
| industry = Banking, Financial services
| products =
| services = Consumer banking
Investment banking
| revenue = {{profit}} US$ 1.64 billion (2018)
| operating_income =
| net_income = {{profit}} US$ 653.809 million (2018)
| assets = US$ 10.577 billion (2015)
| equity = US$ 1.607 billion (2015)
| subsid =
| homepage = {{URL|en.bpi.ir}}
| dissolved =
| footnotes =
| intl =
}}
While established in Tehran, the bank operates throughout the nation with 3685 employees and 327 branches.
BPI is listed under the Tehran Stock Exchange. In 2006, The bank had an initial capital assessment of $250 million.
In 2009, the bank funded and established an art gallery in Tehran.{{cite web|url=http://www.tehrantimes.com/index_View.asp?code=204992 |title=Private bank sets up art museum in Tehran |date=7 October 2009 |publisher=tehran times |access-date=2012-07-08}}
In 2013, The Banker magazine rated BPI as among the top "1000 banks in the world", ranking 257th overall.{{cite journal |year= 2013 |title= The Banker's Top 1000 Global Banks, Ranking 2013|journal= The Banker|volume=163 |issue= 1050|page= 189 |publisher= Financial Times}} The Bank is also on The Banker's list of the top 500 Islamic financial institutions.[http://www.highbeam.com/doc/1G1-211142174.html]{{dead link|date=October 2013}}
Cover committee
In 2024 investigative journalism by IITV revealed the bank coordinated Iranian oil smuggling corruption through helping Iranian regime via a cover committee, its members consist of Ali Shamkhani, Yahia Alavi.{{Cite web |date=2024-08-31 |title=اختصاصی: افشای فساد در فروش نفت از طریق دو دلال نفتی کارتلهای اقتصادی علی خامنهای |url=https://www.iranintl.com/202402149906 |access-date=2024-08-31 |website=ایران اینترنشنال |language=fa}}
Operations
BPI operates as a private bank in Iran. In addition to offering short and fixed deposit accounts for domestic and overseas clients, the bank also provides letters of credit, treasury, currency exchange, corporate loans syndication, financial advisory and electronic banking services.{{cite web |url=http://en.bpi.ir/doc/Annual2008-2009.pdf |title=Annual Report 2008/2009 |publisher=Bank Pasargad |access-date=2010-07-26 |archive-url=https://web.archive.org/web/20110524040110/http://en.bpi.ir/doc/Annual2008-2009.pdf |archive-date=2011-05-24 |url-status=dead }}
Shareholders
Pars Aryan Investment Company is currently the largest shareholder of the company having 13.99% of the bank's shares. However, the bank holds about 55,264 other shareholders (both real and legal) based on the bank's annual report of fiscal year 2014/2015. Pars Arian Group is also the major shareholder of Pasargad Financial Group (includes bank, insurance, leasing, exchange company and several other financial institutions).{{cite journal |title=Market Overview |journal=Iran Investment Monthly |date=November 2010 |volume=4 |number=50 |page=3 |url=http://www.turquoisepartners.com/iraninvestment/IIM-Nov10.pdf |access-date=2010-12-22 |archive-url=https://web.archive.org/web/20151110131655/http://www.turquoisepartners.com/iraninvestment/IIM-Nov10.pdf |archive-date=2015-11-10 |url-status=dead }}
The combination of the bank's shareholders comes as follows:
| class="wikitable" | ||
| style="background:#ffb83d" | Entity
! style="background:#cbcbcb" | Real ! style="background:#cbcbcb" | Legal | ||
|---|---|---|
| Number of shareholders (%) | style="text-align:right;"| 49,883 (99,27%) | style="text-align:right;"| 382 (0.76%) |
| Number of shares (%) | style="text-align:right;"| 6,527,369,225 (21.76%) | style="text-align:right;"| 23,472,630,775 (78.24%) |
| Total | style="text-align:right;"| 55,265 (100%) | style="text-align:right;"| 30,000,000,000 (100%) |
shareholders also have witnessed a constant growth in their equity since the Fiscal year 2007/2008: (Numbers in Million IRR)
| class="wikitable" | ||||||||
| style="background:#ffb83d" | Shareholders' Equity
! style="background:#cbcbcb" | 2014/2015 ! style="background:#cbcbcb" | 2013/2014 ! style="background:#cbcbcb" | 2012/2013 ! style="background:#cbcbcb" | 2011/2012 ! style="background:#cbcbcb" | 2010/2011 ! style="background:#cbcbcb" | 2009/2010 ! style="background:#cbcbcb" | 2008/2009 ! style="background:#cbcbcb" | 2007/2008 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Balance sheet quantity | style="text-align:right;"| 67,528,074 | style="text-align:right;"| 52,485,378 | style="text-align:right;"| 48,109,735 | style="text-align:right;"| 38,416,498 | style="text-align:right;"| 31,387,403 | style="text-align:right;"| 12,353,712 | style="text-align:right;"| 10,129,926 | style="text-align:right;"| 7,096,491 |
| Growth Rate | style="text-align:right;"| 28.66% | style="text-align:right;"| 9.09% | style="text-align:right;"| 25.23% | style="text-align:right;"| 31.31% | style="text-align:right;"| 154.07% | style="text-align:right;"| 21.95% | style="text-align:right;"| 42.75% | style="text-align:right;"| 63.59% |
File:Bankpasargadbranch.jpg|250px]]
File:Bank pasargadbranch2.jpg|250px]]
Financial Ratios
Corporate governance
File:Dr Majid Ghassemi in 2015.jpg, the Bank's CEO in 2015|250px]]
- Majid Ghassemi - Vice Chairman and CEO 2005–present
Branding
The bank's brand has recognized as one of top 100 Iranian brands in the 10th Industry Champions of Iran Festival and was registered in Swiss Federal Institute of Intellectual Property in 2015 and has been allowed to use ® on its logo.{{cite journal |title=به عنوان اولین بانک ایرانی، برند بانک پاسارگاد ثبت جهانی شد |journal=عصر اعتبار |date=December 2015 |url=http://www.asretebar.com/News/83269/%D8%A8%D9%87-%D8%B9%D9%86%D9%88%D8%A7%D9%86-%D8%A7%D9%88%D9%84%DB%8C%D9%86-%D8%A8%D8%A7%D9%86%DA%A9-%D8%A7%DB%8C%D8%B1%D8%A7%D9%86%DB%8C-%D8%A8%D8%B1%D9%86%D8%AF-%D8%A8%D8%A7%D9%86%DA%A9-%D9%BE%D8%A7%D8%B3%D8%A7%D8%B1%DA%AF%D8%A7%D8%AF-%D8%AB%D8%A8%D8%AA-%D8%AC%D9%87%D8%A7%D9%86%DB%8C-%D8%B4%D8%AF |access-date=2016-05-19 |archive-url=https://web.archive.org/web/20180608160009/http://www.asretebar.com/News/83269/%D8%A8%D9%87-%D8%B9%D9%86%D9%88%D8%A7%D9%86-%D8%A7%D9%88%D9%84%DB%8C%D9%86-%D8%A8%D8%A7%D9%86%DA%A9-%D8%A7%DB%8C%D8%B1%D8%A7%D9%86%DB%8C-%D8%A8%D8%B1%D9%86%D8%AF-%D8%A8%D8%A7%D9%86%DA%A9-%D9%BE%D8%A7%D8%B3%D8%A7%D8%B1%DA%AF%D8%A7%D8%AF-%D8%AB%D8%A8%D8%AA-%D8%AC%D9%87%D8%A7%D9%86%DB%8C-%D8%B4%D8%AF |archive-date=2018-06-08 |url-status=dead }}
Bank Pasargad also ranked among world's top-500 banking brands, based on an annual ranking done by The Banker (a Financial Times' Affiliate) and Brand Finance in 2021. According to the ranking's details, Bank Pasargad was among the top-10 climbers in both ranking change (89 ranks upward) and brand value (with a 53% growth).{{cite journal |title=The Top 500 Banking Brands 2021 |journal=The Banker |date=February 2021 |url=https://www.thebanker.com/Banker-Data/Banker-Rankings/The-Top-500-Banking-Brands-2021 |access-date=2021-05-18}}
Venture capital
{{see also|Venture capital in Iran}}
Pishgaman Amin Sarmayeh Pasargad Company (Shenasa) was established in 2012 as a venture capital investment fund and subsidiary of Pasargad Financial Group.{{cite web |url=http://www.cgiran.org/main/images/files/20140429102612_IranEntrepreneurshipEcosystemReport-IEA2013-v2.pdf |title=Archived copy |website=www.cgiran.org |access-date=12 January 2022 |archive-url=https://web.archive.org/web/20150915104200/http://www.cgiran.org/main/images/files/20140429102612_IranEntrepreneurshipEcosystemReport-IEA2013-v2.pdf |archive-date=15 September 2015 |url-status=usurped}}
References
{{Reflist|2}}
External links
{{Portal|Banks}}
- {{Official website|http://en.bpi.ir/}}
{{TSE Companies of Iran}}
{{Banks of Iran}}
Category:Banks established in 2005
Category:Companies listed on the Tehran Stock Exchange
Category:Companies in the TSE TEFIX-30
Category:Iranian companies established in 2005
Category:Iranian entities subject to U.S. Department of the Treasury sanctions