Pasargad Bank
Encyclopedia
Pasargad Bank, also known as BPI, is a major Iran
ian banking establishment 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.
While established in Tehran
, the bank operates throughout the nation with 1648 employees and 150 branches.The bank is currently the fastest growing bank in Iran and is the fifth largest in the country.
BPI is listed under the Tehran Stock Exchange
and is currently one of six private bank
s in Iran
. In 2006, The bank had an initial capital assessment of $250 million.
In 2009, the bank funded and established an art gallery
in Tehran
.
In 2010, The Banker
magazine rated BPI as among the top "1000 banks in the world", ranking 435th overall. The Bank is also on The Banker's list of the top 500 Islamic financial institutions.
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.
insurance, leasing, exchange bureau and several other financial institutions).
According to the management of the group, Pars Arian is now the largest financial conglomerate in Iran.
Current members of the board of directors
include: Seyyed Kazem Mirvalad, Ahmad Vadidar, Mostafa Beheshtirooy, Davood Mojtahed, Zabiallah Khazayee and Mohammadreza Sedaghat Tafreshi.
Iran
Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...
ian banking establishment offering retail
Retail banking
Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth.-Types of...
, commercial
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
and investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
services. The company was established in 2005 as a part of the government's privatization
Privatization in Iran
According to the Fourth Five-Year Economic Development Plan , the Privatization Organization of Iran affiliated to the Ministry of Economic Affairs and Finance is in charge of setting prices and ceding shares to the general public and on the Tehran Stock Exchange...
of the banking system.
While established in Tehran
Tehran
Tehran , sometimes spelled Teheran, is the capital of Iran and Tehran Province. With an estimated population of 8,429,807; it is also Iran's largest urban area and city, one of the largest cities in Western Asia, and is the world's 19th largest city.In the 20th century, Tehran was subject to...
, the bank operates throughout the nation with 1648 employees and 150 branches.The bank is currently the fastest growing bank in Iran and is the fifth largest in the country.
BPI is listed under the Tehran Stock Exchange
Tehran Stock Exchange
The Tehran Stock Exchange is Iran's largest stock exchange, which first opened in 1967. The TSE is based in Tehran. As of July 2010, 337 companies with a market capitalization of US$72 billion were listed on TSE...
and is currently one of six private bank
Private bank
Private banks are banks that are not incorporated. A private bank is owned by either an individual or a general partner with limited partner...
s in Iran
Iran
Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...
. In 2006, The bank had an initial capital assessment of $250 million.
In 2009, the bank funded and established an art gallery
Art gallery
An art gallery or art museum is a building or space for the exhibition of art, usually visual art.Museums can be public or private, but what distinguishes a museum is the ownership of a collection...
in Tehran
Tehran
Tehran , sometimes spelled Teheran, is the capital of Iran and Tehran Province. With an estimated population of 8,429,807; it is also Iran's largest urban area and city, one of the largest cities in Western Asia, and is the world's 19th largest city.In the 20th century, Tehran was subject to...
.
In 2010, The Banker
The Banker
The Banker is an English-language monthly international financial affairs publication owned by The Financial Times Ltd. and edited in London...
magazine rated BPI as among the top "1000 banks in the world", ranking 435th overall. The Bank is also on The Banker's list of the top 500 Islamic financial institutions.
Operations
BPI operates as a private bankPrivate bank
Private banks are banks that are not incorporated. A private bank is owned by either an individual or a general partner with limited partner...
in Iran
Iran
Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...
. In addition to offering short and fixed deposit accounts for domestic and overseas clients, the bank also provides letters of credit, treasury, currency exchange
Currency exchange
Currency exchange can refer to:* Bureau de change* Foreign exchange market...
, corporate loans syndication, financial advisory and electronic banking services.
Shareholders
Pars Aryan Investment Company is currently the largest shareholder of the company. However, the bank holds about 33,899 other shareholders as of March 2009. Pars Arian Group, which is the major shareholder of Pasargad Financial Group (includes bank,insurance, leasing, exchange bureau and several other financial institutions).
According to the management of the group, Pars Arian is now the largest financial conglomerate in Iran.
Corporate governance
- Majid Ghasemi - President and CEO 2005–present
Current members of the board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
include: Seyyed Kazem Mirvalad, Ahmad Vadidar, Mostafa Beheshtirooy, Davood Mojtahed, Zabiallah Khazayee and Mohammadreza Sedaghat Tafreshi.