Bank Pasargad – outstanding award from “Industrial Management Institution” of Iran

17 Pasargad“Bank Pasargad”, which has recently been awarded the titles of; Bank of the Year 2021, and Islamic Bank of the Year 2021 in Iran by the Banker Magazine, gained another outstanding award from “Industrial Management Institution (IMI)” of Iran.

IMI is a public organization which appraise and rank Iranian Corporations on a yearly basis. In the 24th ranking of IMI, published on January 2022, Bank Pasargad succeeded to achieve the number one position among the Iranian private banks, and the 4th position amongst all private and state owned banks, based on audited financial statements for FYE March 20, 2021.

Based on this assessment, companies are appraised by their “Operational Revenue” as the main indicator, and 32 other  quantitative indicators including; total assets, capital adequacy, company growth, profitability, market performance, employment, value added index…, which are taken into account. The method of evaluation is the same as many conventional rankings such as Fortune 500 which are based on the audited financial statements of the companies.

Throughout this assessment, with sales of IRR 513,754 billion, the Bank stood at 12th rank among the top 100 biggest Iranian corporations. Furthermore, Bank Pasargad stood on 6th place in terms of total assets and has been ranked 8th in terms of value-added index.

In addition, three subsidiaries of Bank Pasargad namely; “Pasargad Insurance Co.”, ” MIDHCO” & ” Sirjan Iranian    Steel Co.” are listed among the Top 100 Companies of Iran on the basis of their outstanding performance in 2021. Moreover, two subsidiaries of the Bank; “Arzesh Afarinan Pasargad Co.” & “Pasargad Energy Development Co.” are recognized as the fast movers in the 2021 ranking.”

We hope with the eradication of COVID 19 epidemic in 2022, to continue our efforts to gain higher position not only in terms of financial achievements, but fulfilling our corporate social responsibilities, for satisfaction of all our stakeholders as well.”

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