Annual Report-2014

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Annual Report-2014 PARSIAN BANK y 1 2 3 4 5 Januar 6 7 8 9 10 11 1 ry 1 2 3 4 2 1 Februa 5 6 7 3 8 9 14 10 1 15 1 2 3 4 1 1 1 March 5 6 7 8 2 6 9 1 13 17 0 1 1 1 1 4 18 pril 1 2 3 4 5 6 2 15 1 A 7 8 9 13 1 9 10 1 6 1 4 1 2 1 1 1 7 0 May 1 2 3 4 5 6 7 2 5 2 8 9 13 1 18 1 10 1 6 2 11 4 1 1 2 2 1 1 7 9 June 1 3 4 5 6 2 5 1 2 2 7 1 8 0 3 8 3 1 9 1 1 6 1 2 2 0 4 1 9 1 4 uly 1 2 3 4 5 11 1 7 J 6 7 5 2 2 2 8 12 1 0 2 5 9 1 8 1 1 6 2 0 3 1 1 2 2 ugust 1 2 3 1 1 9 3 6 ANNUAL A 4 1 1 7 2 5 4 6 1 2 2 2 2 7 2 1 1 0 4 8 5 8 7 1 2 tem 9 3 2 2 2 Sep ber 1 1 1 3 1 2 1 1 6 9 5 8 3 0 4 2 2 4 1 1 2 2 4 2 2 5 1 1 7 0 6 5 9 ctobe 6 2 O r 1 1 2 2 2 1 2 2 3 7 1 8 3 5 3 6 1 7 4 8 1 0 2 5 3 1 2 2 9 1 6 2 Novem 6 9 2 4 3 be 1 7 8 r 1 1 1 7 4 2 REPORT 2 0 1 2 2 2 8 7 3 1 1 8 0 3 5 4 9 5 ece 1 2 D m 2 2 b 1 2 e 5 r 1 1 1 6 8 1 1 9 4 0 6 6 2 2 2 2 2 2 3 7 1 2 1 2 9 4 1 0 5 7 1 3 7 5 8 2 3 2 2 1 2 6 1 3 0 9 1 1 8 2 6 8 4 7 1 2 2 2 1 1 2 8 0 1 1 4 3 2 9 3 7 5 9 9 0 1 2 2 3 1 2 3 1 1 2 1 5 3 0 4 8 0 9 0 6 1 2 2 2 3 1 1 2 2 2 1 6 1 4 5 1 8 9 0 1 7 2 1 1 3 2 2 1 2 3 7 3 2 1 7 6 5 2 0 9 1 2 8 3 1 2 6 2 1 2 3 2 4 1 1 2 7 8 6 8 1 4 5 9 3 1 2 2 1 1 2 2 5 5 4 2 8 2 7 2 9 7 1 1 2 6 0 4 3 2 1 6 1 7 3 2 2 6 2 9 1 2 2 8 1 1 2 2 0 1 8 9 0 2 1 7 5 2 5 1 2 0 2 2 8 2 4 9 2 1 2 2 6 9 3 1 2 2 0 2 2 2 2 1 3 1 2 2 3 3 0 2 7 0 2 2 3 3 3 4 2 9 2 2 1 4 8 8 2 2 2 5 7 2 2 6 5 2 2 9 6 2 3 7 0 2 8 2 3 9 3 0 1 SECTION 4 2 Annual Report 4 5 Annual Report Financial highlights Growth trend in recent years $('000) 2014 2013 2012 A) Financial figures for the year Total income 2,775,677.15 2,210,876.86 1,853,734.96 Total incomes of Parsian financial group (consolidated) 4,651,636.44 4,058,713.73 2,856,693.85 Operating profit 352,135.05 359,414.91 318,485.66 Net profit - Profit after tax 326,993.15 317,285.28 292,136.04 326,993 2,775,677 B) Financial figures - year end 2014 2014 Total assets 18,648,213.93 14,720,316.91 12,509,005.82 2013 2013 317,285 2,210,876 Total liabilities 17,365,783.48 13,628,339.10 11,534,180.66 Registered capital 525,854.51 525,854.51 525,854.51 2012 2012 292,136 Shareholders' equity 1,282,430.45 1,091,977.81 974,825.15 1,853,734 C) Return (%) Net profit Total income Return on assets (1) 1.96 2.33 2.53 Return on equity (2) 27.54 30.70 32.81 D) Per share figures ($) Number of shares as at the date of AGM (million shares) 13,200 13,200 13,200 Primary earnings per share forecast 0.02 0.02 0.02 Final earnings per share forecast 0.03 0.02 0.02 Earnings per share (IRR) 622 603 521 Dividends per share (IRR) 250 400 380 Final price of share as at confirmation date of reports (3) 0.15 0.10 0.11 18,648,213 Book value per share 0.1 0.1 0.1 1,282,430 2014 2014 P/E 5.8 4.4 5.5 2013 2013 E) Other information 1,091,977 14,720,316 Number of employees 4,477 4,492 4,531 2012 2012 974,825 1) Return on assets=Net profit to Average assets 12,509,005 2) Return on equity=Net profit to Average assets Shareholders’ equity Total assets 3) Confirmation date of financial reports is May 12, 2014 Annual Report 6 7 Annual Report Table of Contents Table of Contents Board of Directors' Message 9 Deposits and Facilities Per Branch 34 Risk Analysis 35 Section One Anti Money Laundering Actions 37 Economic and Social Impacts of Parsian Bank's Activities 38 History 12 Education and Human Resources Development 39 Shareholders 13 Innovations and Projects 40 Vision, Mission, Organizational Values 14 Organization Chart 16 Top Executive Managers 17 Section Four Balance Sheet 44 Section Two Income Statement 45 Statement of Cash Flows 46 National and International Awards 21 General Information 48 Parsian Bank's market share of total deposits in national banking network 22 Notes to the Financial Statements 51 Parsian Bank's market share Consolidated Balance Sheet 70 of total liquidity in the market 23 Consolidated Income Statements 71 Consolidated Statement of Retained Earnings 72 Section Three Consolidated Statement of Cash Flows 73 Parsian Bank at a Glance 26 Performance Indicators 27 Appendix Collecting Deposits 28 Granting Facilities 30 Foreign Exchange Branches 76 Banking Services 31 Subsidiary and Associate Companies 77 Financial Indicators 32 Annual Report 8 9 Annual Report Board of Directors In The Name Of God Proud history of Parsian Bank as one of the best Iranian private bank is marked thanks to the support of discerning shareholders and clients trust. Directors and staffs of the Bank and Parsian Financial Group made a great effort in the areas of monetary, banking and economics over the past decade, which caused Mr. Ali Divandari Mr. Golamreza Soleimani innovations in these areas for the first time in Iranian banking system. President Member of the board [email protected] [email protected] 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 service. In light of these actions Parsian Bank succeeded to take 8th place in “top 100 Iranian companies” ranking organized by Industrial Management Institute (IMI) of Iran in 2014. Top Iranian Bank based on return on equity (ROE) in “Top 1000 World Banks” ranking by the prestigious banking magazine “The Banker” in 2013, “Best Islamic Bank” and “Best Islamic Retail Bank” in Iran by “The Asset” magazine. No doubt, all of the above achievements are the results of support and trust of our esteemed shareholders, loyal customers and valuable stakeholders. 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. Mr. Ali Soleimani Shayesteh Mr. Seyed Hesam Shams Alam Mr. Aref Norouzi Member of the board Member of the board Member of the board [email protected] [email protected] [email protected] Board of Directors Introduction SECTION 1 12 13 SECTION 1 History Shareholders Parsian Bank was incorporated in September 2001. Banking operation license was issued Total number of shareholders was 72,410 by the year 2014. 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. Shareholders combination In October 2004, Parsian Bank was listed on the Tehran Stock Exchange as the 401st listed Number of Shareholders Number of Shares (million shares) Ownership(%) company and the Bank's share were traded for the first time on December 1, 2004. Parsian Bank activities according to its articles of association include all banking operations, Individuals 72,139 2,154 16 commercial activities and services which, are authorized for all banks, based on related rules Legal entities 271 11,046 84 and regulations.
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