Based on the comprehensive evaluations of The Banker Magazine, the title of “Bank of the Year 2021 of the Islamic Republic of Iran” has been awarded to Bank Pasargad for the seventh year. Bank Pasargad had previously won this title in 2010 and also in consecutive years from 2012 to 2016. It was also selected by The Banker as the Islamic Bank of the Year 2021 of Iran in last summer.
It is worth mentioning that according to July 2021 ranking of Top 1000 World Banks by The Banker, Bank Pasargad also ranked first in the Middle East in terms of ROC. In terms of brand value, Bank Pasargad was the only Iranian bank among the Top 500 Banking Brands in 2021 recognized by The Banker Magazine and the Brand Finance Institute in February 2021 as the 290th Banking Brand among Top 500 Banking Brands in the world.
In these appraisals, financial indicators such as Tier-1 Capital and its changes, Total Assets, Net Profit, Return on Equity, Cost-to-Income ratio, Debt Repayment Capacity and NPL ratio are analyzed and examined. In addition, non-financial indicators such as the bank’s strategic initiatives to create a competitive advantage, its innovative new products and services, its efforts to develop new businesses, measures taken in the fields of financial and banking technologies (Fintech) and new investments to expand services are considered thoroughly. It should be noted that given the widespread prevalence of Covid-19 in the world over the past two years, The Banker Magazine has also seriously reviewed the measures taken by the banks to support businesses and customers affected by the consequences of the pandemic.
The Banker Magazine
Leave a Reply