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Annual Report-2015

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Annual Report-2015 2 PARSIAN BANK | Financial Highlights 2015 2014 2013 A) Financial figures for the year $('000) Total income 2,730,233.37 2,488,763.88 1,982,475.96 Total incomes of Parsian financial group (consolidated) 7,831,854.61 4,171,085.88 3,639,416.77 Operating profit 34,830.64 244,312.85 322,284.49 Net profit - Profit after tax 34,830.64 191,404.66 284,507.22 B) Financial figures - year end Total assets 19,726,503.18 16,619,899.48 13,199,592.59 Total liabilities 18,733,834.43 15,571,761.70 12,220,424.63 Registered capital 471,529.61 471,529.61 471,529.61 Shareholders' equity 992,668.75 1,048,137.78 979,167.93 C) Return (%) Return on assets (1) 0.19 1.28 2.33 Return on equity (2) 3.41 18.88 30.70 D) Per share figures ($) Number of shares as at the date of AGM (million shares) 15,840 13,200 13,200 Primary earnings per share forecast 0.02 0.02 0.02 Final earnings per share forecast 0.01 0.02 0.02 Earnings per share (IRR) 62 622 603 Dividends per share (IRR) 6 250 400 Final price of share as at confirmation date of reports (3) 0.06 0.13 0.09 Book value per share 0.08 0.08 0.07 P/E 8.8 5.8 4.4 E) Other information Number of employees 4,486 4,477 4,492 1) Return on assets=Net profit to Average assets 2) Return on equity=Net profit to Average assets 3) Approval date of financial statements: June 29, 2015 PARSIAN BANK Shareholders’ Equity$('000) Net Profit$('000) 992,669 34,831 1,048,138 191,404 979,168 284,507 Growth in Recent Years | inRecentYears Growth 3 Total Income$('000) Total Total Assets $(' Total 19,726,503 2,730,233 16,619,899 2,488,764 13,199,593 1,982,476 000) 4 PARSIAN BANK | Table of Contents Board of Directors' Message 7 Section One History 10 Vision, Mission, Organizational Values 12 Organization Chart 14 Section Two Parsian Bank's position among privately-owned banks 18 National Awards and International Awards 20 Section Three Parsian Bank at a Glance 24 Performance Indicators 25 Collecting Deposits 26 Granting Facilities 28 Financial Indicators 30 Risk Analysis 33 Anti-money laundering actions 35 Economic and social impacts of Parsian Bank activities 36 Innovations and Projects 38 5 Table of Contents | PARSIAN BANK Section Four Financial Statements 42 General Information 45 Notes to the Financial Statements 48 Consolidated Financial Statements 65 Appendix Foreign Exchange Branches 72 Subsidiary and Associate Companies 75 6 PARSIAN BANK | Board of Directors Mr. Kourosh Parvizian Mr. Hashem Yekke Zare President Chairman of the Board Mr. Abolghasem Jamshidi Mr. Aref Norouzi Member of the Board Vice Chairman of the Board Mr. Hesam Shams Alam Mr. Hamidreza Rafiee Member of the Board Member of the Board 7 PARSIAN BANK In The Name of God Dear valued shareholders, Over the years Parsian Bank has built a strong reputation as a sound and safe institution following a path of prudent growth. This together with the well- established business franchise, strong capital base and adequate liquidity will enable us to achieve our strategic business priorities to the ultimate benefit of all our shareholders. The Bank's key performance indicators and successive achievements in the field of monetary and economics, suggests the top position of the Bank in the diversification and development of electronic and retail banking services. Parsian Bank has always tried to provide a very high standard of service to its customers evidenced by the most satisfactory level of new customer acquisitions achieved. The Bank has also continued to focus on good opportunities in its chosen lending segments and increase its share of target markets. We are determined to continue our endeavors and hope for a bright future relying on expertise, perseverance and correct understanding of conditions ahead, to play a distinguished role in banking arena, both inside and outside the country. Here we extend our thanks and appreciation to the staff of the Bank whose dedicated service and commitment has played a vital role in the achievements of the Bank over the years and to all our valued customers and shareholders for their continuous support and the confidence reposed by them in Parsian Bank. Our strategic ingenuity, core values and professional approach to business will enable us to deliver the best value to our stakeholders and further improve our position in the market place. Board of Directors Introduction 1 10 SECTION 1 | History Parsian Bank was incorporated in September 2001. Banking operation license was issued by the Central Bank of the Islamic Republic of Iran and the Bank commenced its operations in January, 2002 by opening four branches in Tehran. In October 2004, Parsian Bank was listed on the Tehran Stock Exchange as the 401st listed company and the Bank's share was traded for the first time on December 1,2004. Parsian Bank activities according to its articles of association include all banking operations, commercial activities and services which, are authorized for all banks, based on related rules and regulations. Head office of the Bank is located at No.4, Zarafshan St., Farahzadi Blvd., Shahrak Ghods,Tehran,Iran Changes in Capital...................................................................................................................................... $('000) Increase Date of Annual General Meeting Date of registration Source Capital increase Paid up Capital percentage Initial capital September 6,2001 Cash 11,073.80 11,073.80 - July 12,003 October 4,2003 Retained earnings 1,107.38 12,181.18 10 May 18,2004 June 5,2004 Cash 59,262.70 71,443.88 487 June 30,2005 November 23,2005 Cash 107,165.82 178,609.70 150 July 16,2007 June 11,2008 Cash 35,721.94 214,331.64 20 July 16,2007 December 1,2009 Cash 53,582.91 267,914.55 25 January 4,2010 June 16,2010 Cash 53,582.91 321,497.46 20 January 4,2010 January 5,2011 Cash 71,443.88 392,941.34 22 May 9,2011 May 16,2012 Cash 78,588.27 471,529.61 20 11 Shareholders | SECTION 1 Total number of shareholders was 73,209 by the year 2015. Shareholders Combination Number of Shareholders Number of Shares (million shares) Ownership (%) Individuals 72,939 2,079 16 Legal entities 270 11,121 84 Total 73,209 13,200 100 Share price and trading status.................................................................................................................... $('000) Year-end Number of shares Value of shares Number of Year traded traded trading days Market value Share price($) Paid up capital 2013 1,748,760,535 133,954 227 957,677 0.07 471,530 2014 1,372,475,911 168,170 236 1,923,841 0.15 471,530 2015 353,075,432 38,486 192 1,097,249 0.08 471,530 12 SECTION 1 | Vision, Mission and Organizational Values Vision Enjoying largest domestic market share Largest market share of total international transactions among privately-owned banks Best bank in providing advanced banking services Capable and committed to raise stakeholders' satisfaction Mission Parsian Bank offers all banking and financial services commensurate with the requirements of customers, using advanced banking tools and relying on specialized human resources. We, the management and employees of Parsian Bank, have faith in our triumph since we attempt to be: • The best in honoring customers • The swiftest in identification of customers' demands and espondingr to them accordingly • Conspicuous in offering all banking and financial services • The most profit-making in terms of investments; and last but not least • Respondent to the society and compliant with Islamic banking principles In our team, we constantly strive for • Depositors' full satisfaction is fulfilled, being assured of having selected the best investment opportunities • Our customers have access to the best financial solutions and banking services proportionate to their needs •Our business partners enjoy the most successful and lucrative long term commercial ties • Our shareholders, beneficiaries, and staffs view a promising perspective of bank's achievements • Our society can take pride in us, as a member who plays a remarkable role in economic prosperity 13 Vision, Mission and Organizational Values | SECTION 1 Organizational Values • Dedicated to provide shareholders with maximum return • We care about customers' privacy • Compliance with international and domestic banking rules and regulations • Provide high quality banking services at the shortest delivery time • Innovation in providing banking services • A knowledge base bank with customized banking services • Offer standard banking services • Trust, fairness and honesty in relationship with stakeholders 14 SECTION 1 | Organization Chart Board of Directors Compliance & anti money Appointments Committee laundering Committee Risk Management Auditing & internal controls Committee Committee Risk Management Internal auditing President Senior Vice President Business innovation and Islamic banking research center Human resources & Welfare Training & knowledge Business Innovation Center development Legal affaires Public relations Compliance & anti money laundering Office Inspection & Monitoring Vice president Vice president Vice president Vice president Vice president Vice president IT Project & Planning Credit Operations Finance International Banking Research & International Software Development Credits Branches Finance & Planning Affaires Hardware & Organization & Budgeting & Foreign Debt Collections VIP Customers Network Methods Financial Reporting Operations Procurement & Subsidiaries Overseas IT Development Logistics Affaires Branches Network security Help Desk 15 Executive Board Members | SECTION 1 Mr. Kourosh Parvizian President Mr. Nader Hagh Verdi Mr. Mansour Tafazoli Mr. Hesam Shams Alam Vice President Operations Vice President International Banking Member of the Board Mr. Ahmad Jafari Mr. Mohammadreza Faghiri Mr. Mehdi Rezaei Mr. Abbas Khosravani Vice President IT Vice President Project Vice President Finance and Planning Vice President Credit Parsian Bank's Achievements 2 18 | Parsian Bank's position among SECTION 2 | privately-owned banks Parsian Bank ranked as the first bank among privately-owned banks in terms of deposit market share.
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