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Bank Pasargad

Bank Pasargad. The Millennium Bank January 2011. No. 430 Mirdamad Blvd., Tehran 1969774511, Iran Tel: (+9821) 82891575; Fax: (+9821) 88649521 Website: www.bankpasargad.com Swift: BKBPIRTH. Table of Content. BANK PASARGAD. The Millennium Bank.  Introduction. 5.  Organization Chart.

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Bank Pasargad

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  1. Bank Pasargad The Millennium Bank January 2011 • No. 430 Mirdamad Blvd., Tehran 1969774511, Iran • Tel: (+9821) 82891575; Fax: (+9821) 88649521 • Website: www.bankpasargad.com • Swift: BKBPIRTH

  2. Table of Content BANK PASARGAD The Millennium Bank Introduction 5 Organization Chart Facts and Figures Awards & Achievements Shareholders 11 10 8 9 Vision and Mission 6  22 Extensive Network of Bank Pasargad’s Geographic Coverage 16 Electronic Banking Services  18 Subsidiaries and Affiliates 19 Public & Educational Activities Human Capital Training Courses Human Capital 21 20 Overview of Bank Pasargad's Financial Results 24 Bank Pasargad’s Competitive Advantages Key Performance Measures 25 33 Foreign Exchange Operations  Executive Board of Directors Summary Timeline of Bank Pasargad’s Establishment 40 13 3

  3. Summary Timeline of Bank Pasargad's Establishment BANK PASARGAD The Millennium Bank June 2005 • Establishment of Pars Aryan Holding Co. as the founder and major shareholder of Bank Pasargad 2nd Aug 2005 • 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 4th Sep 2005 • Bank Pasargad registered with the Companies Registrar Office in Tehran(Registration No. 254300) 13th Sep 2005 • Banking operation's license No. H/2849 granted by the CBI 14th Sep 2005 • Inauguration of The Bank. 13th Dec 2005 • Start up of the first branch. 7th Feb 2006 • License for international banking operations was granted as per category I & II of CBI’s circular No. 1096/MB. 12th Dec 2006 • License for full international banking operations granted by the CBI 3

  4. Bank Pasargad’s Major Shareholder BANK PASARGAD The Millennium Bank 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. 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 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.

  5. Introduction BANK PASARGAD The Millennium Bank 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:  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 Bank Pasargad as the fastest growing private bank:  Dec 2005 July 2009  Started activity as the 6th Iranian private bank Target for 2013  Promoted to stand as the 1st Iranian private bank Is planned to be the 1st bank in the Middle East

  6. Vision & Mission BANK PASARGAD The Millennium Bank Our Vision 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:  Providing solutions that consistently meet or exceed the needs and aspirations of our Community and Customers.  Upgrading the standards for service delivery and value creation in banking industry  Being influential in enhancing the standards of development of our industry.

  7. Vision & Mission BANK PASARGAD The Millennium Bank OurMission Maximizing the added value for our clients, shareholders, community, and our staff alike through: 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.

  8. Bank Pasargad's Shareholders BANK PASARGAD The Millennium Bank BankPasargadis 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

  9. Organization Chart General Assembly BANK PASARGAD The Millennium Bank Credit Risk Committee Audit Committee Legal Inspector Supervisory Risk Management Committee Market Risk Committee Board of Directors Nomination Committee Liquidity Risk Committee Strategy Committee Operational Risk Committee Executive Risk Management Dept. Managing Director Credit Risk Assessment Unit Executive Board Committee Management Office Market Risk Assessment Unit Secretary & Counselors Assets & Liabilities Management Committee Liquidity Risk Assessment Unit Legal Affairs Credit Committee Operational Risk Assessment Unit Public Relations Innovation Committee Corporate Banking Marketing & Advertisement Committee Internal Audit & Inspection Human Capital Technology & IT Committee Executive Board Member Executive Board Member Executive Board Member Executive Board Member Executive Board Member Logistics Branch Affairs Corporate Planning IT Finance International Affairs Trade Finance Investment & Participation Affairs Credit s & Loans

  10. Facts and Figures BANK PASARGAD The Millennium Bank Capital Changes: 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.

  11. Awards & Achievements BANK PASARGAD The Millennium Bank 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. 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 Ranked as 435th in July 2010 Winner of the Banker’s Bank of the Year Award 2010 in Iran

  12. Awards & Achievements BANK PASARGAD The Millennium Bank 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:

  13. Executive Board of Directors BANK PASARGAD The Millennium Bank Mr. Majid Ghassemi Board Member Vice Chairman & Managing Director Ex Governor of the Central Bank of Islamic Republic of Iran Tel: (+9821) 82891001 ; Fax: (+9821) 88649521 ; Email: m.ghassemi@bankpasargad.com Mr. Ahmad Vadidar 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

  14. Executive Board of Directors BANK PASARGAD The Millennium Bank Mr. Zabihollah Khazaei Board Member Board Member of Chief Executive Officers, in Charge of Financial & IT Affairs Tel: (+9821) 82891019 ; Fax: (+9821) 88649234 ; Email: z.khazaei@bankpasargad.com Mr. MostafaBeheshtirouy 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

  15. Executive Board of Directors BANK PASARGAD The Millennium Bank Mr. Mohammad Reza Sedaghat Tafreshi 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. GholamHosseinVahidnia Board Member of Chief Executive Officers, in Charge of Bank’s Logistic Affairs Tel: (+9821) 82891015 ; Fax: (+9821) 88649234 ; Email: gh.vahidnia @bankpasargad.com

  16. Extensive Network of Bank Pasargad's Geographic Coverage BANK PASARGAD The Millennium Bank Map of Iran with Bank's Branches located on it

  17. Number of Branches BANK PASARGAD The Millennium Bank BankPasargad 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

  18. Electronic Banking Services BANK PASARGAD The Millennium Bank Virtual Banking Services Online Banking Services SMS Banking Services Telephone Banking Services Email Banking Services Mobile Banking Services Card Services Include: Student Card Cash Card Joint Card Gift Card Credit Cards Health Card Family Card Shopping Card (voucher card) Debit Cards

  19. Subsidiaries and Affiliates BANK PASARGAD The Millennium Bank BankPasargad’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 .

  20. Bank Pasargad's Human Capital BANK PASARGAD The Millennium Bank 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

  21. 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. Human Capital Training Courses BANK PASARGAD The Millennium Bank  Islamic Banking  Credit Analysis & Credit Rating  AML/KYC  Foreign Exchange Operations  Trade Finance  UCP & ISBP  Organizational Behavior

  22. Public & Educational Activities BANK PASARGAD The Millennium Bank 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. Conduction of training sessions for customers to acquaint them with effective use of E-Banking services . Supporting national sport teams in international tournaments. ACCA training within the pasargad group

  23. ACCA Training within Pasargad Group BANK PASARGAD The Millennium Bank Objectives: • - 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. Activities: • 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.

  24. BANK PASARGAD Overview of Financial Results BANK PASARGAD The Millennium Bank 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)

  25. Competitive Advantages BANK PASARGAD The Millennium Bank 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

  26. Total Assets Growth BANK PASARGAD The Millennium Bank 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. Total Assets (Million IRR )

  27. Total Assets' Growth Total Liabilities Growth BANK PASARGAD The Millennium Bank Total Liabilities (Million IRR)

  28. Assets and Liabilities Structure BANK PASARGAD The Millennium Bank Assets Combination as of 20th March, 2010 Liabilities Combination as of 20th March,2010

  29. Assets and Liabilities Structure BANK PASARGAD The Millennium Bank Assets Combination as of 20th Jan 2011 Liabilities Combination as of 20th Jan 2011

  30. Total Owners’ Equity Growth BANK PASARGAD The Millennium Bank 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. 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. 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. Bank Pasargad increased its paid up capital to 23,100 billion IRR by November 2010. Shareholders’ equity growth has been remarkable.

  31. Total Owners’ Equity Growth BANK PASARGAD The Millennium Bank Total Owners’ Equity (Million IRR)

  32. Credit Facilities Granted BANK PASARGAD The Millennium Bank Credit Facilities Granted ( Million IRR)

  33. Key Performance Measures BANK PASARGAD The Millennium Bank Operating Income (Million IRR) Profit before Tax (Million IRR)

  34. Key Performance Measures BANK PASARGAD The Millennium Bank Dividend per Share (DPS) Earning per Share (EPS)

  35. Key Performance Measures BANK PASARGAD The Millennium Bank Capital Adequacy Ratio Return on Equity (ROE)

  36. Financial Ratios: BANK PASARGAD The Millennium Bank The following table presents Bank Pasargad's main financial ratios:

  37. Deposits BANK PASARGAD The Millennium Bank 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. Deposit Structure Total Deposits Growth (Million IRR) (Million IRR)

  38. Foreign Exchange Operations BANK PASARGAD The Millennium Bank ForeignExchange 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.

  39. Foreign Exchange Operations BANK PASARGAD The Millennium Bank 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 Opening and maintenance of individual and corporate accounts in hard currency. Handling inward and outward payment orders in foreign currencies. Collection of bills/cheques in foreign currency.

  40. Foreign Exchange Operations BANK PASARGAD The Millennium Bank 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: (USD 1000)

  41. Foreign Exchange Operations BANK PASARGAD The Millennium Bank Total Import LCs (USD 1000) Total Export L/C (USD 1000)

  42. Foreign Exchange Operations BANK PASARGAD The Millennium Bank Payment Orders (USD 1000) Guarantees Issued (USD 1000)

  43. Key Contacts BANK PASARGAD The Millennium Bank International Affairs DirectorForeign Exchange Operations Director Mr.Mohammad Amir Davoud Mr. SadeghPourasghari Tel: 0098 21 82891575 Tel: 0098 21 82891221 Fax: 0098 21 88649521 Fax: 0098 21 88649501 E-mail: m.davoud@bankpasargad.com E-mail: s.pourasghari@bankpasargad Treasury Payment Orders Tel: 0098 21 82891230 Tel: 0098 21 82891235 E-mail: m.azizi@fx.bankpasargad.com Tel: 0098 21 82891243 E-mail: n.keshishi@fx.bankpasargad.com E-mail: m.ashtari@fx.bankpasargad.com Correspondent BankingGuarantees Tel: 0098 21 82891579 Tel: 0098 21 82891240 E-mail: m.asgharzadeh@fx.bankpasargad.comE-mail: e.akhondzade@fx.bankpasargad.com

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