1. Bank Pasargad The Millennium Bank January 2011
No. 430 Mirdamad Blvd., Tehran , Iran
Tel: (+9821) ; Fax: (+9821)
Website:
Swift: BKBPIRTH

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

3. BANK PASARGAD Summary Timeline of Bank Pasargad's Establishment
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 )
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 Bank Pasargad’s Major Shareholder
The Millennium Bank
Pars Aryan Investment Co. (Plc) was initially incorporated under the name of “Minoo Industrial Group Investment Co., (Ltd)” on Oct 2nd , 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. BANK PASARGAD Introduction
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
Started activity as the 6th Iranian private bank 
July 2009
Promoted to stand as the 1st Iranian private bank 
Target for 2013
Is planned to be the 1st bank in the Middle East

6. BANK PASARGAD Our Vision Vision & Mission
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. Our Mission BANK PASARGAD Vision & Mission
The Millennium Bank
Our Mission
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. Shareholders' Structure
Bank Pasargad's Shareholders
BANK PASARGAD
The Millennium Bank
Bank Pasargad is 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:
Type
No. of Shareholders
No. of Shares (Million)
% Ownership
Real Persons
44,377
6,246
27.04
Legal Entities
205
16,854
72.96
Total
44,582
23,100
100
Shareholders' Structure

9. BANK PASARGAD Organization Chart Managing Director General Assembly
The Millennium Bank
Credit Risk Committee
Audit Committee
Legal Inspector
Supervisory Risk Management Committee
Market Risk Committee
Board of Directors
Liquidity Risk Committee
Nomination 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. Capital Changes: BANK PASARGAD Capital Changes Billion IRR
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.
Capital Changes
Billion IRR
Total (Billion IRR)
Initial Capital (2005)
3,500
1st Capital Increase (2007)
1,750
5,250
2nd Capital Increase (2008)
7,000
3rd Capital Increase (Nov 2009)
700
7,700
4th Capital Increase (Nov 2010)
15,400
23,100

11. Our World Ranking Among Top 1000 Banks in The Banker
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.
Our World Ranking Among Top 1000 Banks in The Banker
Winner of the Banker’s Bank of the Year Award 2010 in Iran
Ranked as 574th as per Banker’s issue of July 2009, based on March 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.
Ranked as 435th in July 2010
No.1 Iranian Private Bank by Tier 1 Capital
Highest Profit Increase among Iranian Banks

12. Here is the Banker’s correction and apology In its September issue:
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. BANK PASARGAD Mr. Majid Ghassemi Mr. Ahmad Vadidar
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) ; Fax: (+9821) ;
Mr. Ahmad Vadidar
Board Member
Board Member of Chief Executive Officers, in Charge of Bank’s Branches & Planning Affairs
Tel: (+9821) ; Fax: (+9821) ;

14. Mr. Mostafa Beheshtirouy
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) ; Fax: (+9821) ;
Mr. Mostafa Beheshtirouy
Board Member
Board Member of Chief Executive Officers, in Charge of International Banking Affairs
Tel: (+9821) ; Fax: (+9821) ;

15. Mr. Mohammad Reza Sedaghat Tafreshi
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) ; Fax: (+9821) ;
Mr. Gholam Hossein Vahidnia
Board Member of Chief Executive Officers, in Charge of Bank’s Logistic Affairs
Tel: (+9821) ; Fax: (+9821) ;

16. Map of Iran with Bank's Branches located on it
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
Bank Pasargad 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 
Item
Jan 2011
No. of Branches 25 82
150
202
233
242

18. BANK PASARGAD Electronic Banking Services Virtual Banking Services
The Millennium Bank
Virtual Banking Services
Online Banking Services
SMS Banking Services
Telephone Banking Services
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. BANK PASARGAD Subsidiaries and Affiliates
The Millennium Bank
Bank Pasargad’s financial group consists of the bank and a series of subsidiaries, active in the major fields of:
Some of the Companies
Bank's Share %
Million IRR
Saman Sakht Aryan Co.
99.90
599,400
Pasargad Arzesh Afarinan Co.
97.99
979,952
Bank Pasargad Leasing Co. 67
201,000
Hashtom Urbanization and Construction Co.
100,500
Bank Pasargad Electronic Payment Co.
36,850
Bank Pasargad Brokerage Co. 60
30,000
Bank Pasargad Financial and Investment Services Co. 49
Pasargad ICT Co. (FANAP)
4,900
Modaberan Sakht Aryan Co. 45
270,000
Middle East Mabna Co.
43.14
196,361
Pasargad Insurance Co. 20
83,700
Middle East Mines & Mineral Industries Development Holding Co.
19.90
250,898
Bank Pasargad Machinery & Equipment Leasing Co. 18
18,115
Pasargad Mass Construction Development Co. 5
2,500
Pasargad Energy Development Co. 4
2,000
Pasargad Exchange Co. 70
35,000
Iranian Etekayi Insurance Co.
Total Investment
2,841,225
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 Bank Pasargad's Human Capital
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
Post Graduate
Graduate
Associate Degree
Work Experience M F
0-10 years 51 50
861
1,114 55 2
10-20 Years 3
20-30 Years 4 1
Over 30 Years 23 6
106 13
301 35
Subtotal 81 56
971
1,127
358 37
Total
137
2,098
395 % 59 41 46 54 91 9
Total M F
967
1,166 9 5
414 50
1,394
1,216
2,630 53 47

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

22. BANK PASARGAD Public & Educational Activities
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.
Supporting national sport teams in international tournaments.
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 .
ACCA training within the pasargad group

23. BANK PASARGAD ACCA Training within Pasargad Group Objectives:
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. Overview of Financial Results
BANK PASARGAD
The Millennium Bank
Overview of Financial Results
BANK PASARGAD
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 ( Sep 2010) ; IRR (Jan 2011)

25. Among Bank Pasargad's outstanding advantages are:
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 (Million IRR )
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.
20th Jan 2011
(fiscal year)
Index
(Million IRR)
169,100,379
122,632,927
95,025,056
56,965,020
22,074,487
4,675,594
Total Assets 38 29
66.8
158.1
372.1
Growth %
Total Assets (Million IRR )

27. Total Liabilities (Million IRR)
Total Liabilities Growth
Total Assets' Growth
BANK PASARGAD
The Millennium Bank
20th Jan 2011
(fiscal year)
Index
(Million IRR)
140,092,766
109,979,215
84,895,130
49,868,529
17,736,591
1,136,366
Total Liabilities 27 29 70
181
1460
Growth %
Total Liabilities (Million IRR)

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

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

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

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

32. Credit Facilities Granted
BANK PASARGAD
The Millennium Bank
20th Jan 2011
(fiscal year)
(fiscal year)
(fiscal year)
(fiscal year)
Index
(Million IRR)
102,704,576
76,044,776
64,016,463
39,767,517
11,274,878
1,125,087
Credit Facilities Granted 35 19 61
253
902
Growth %
Credit Facilities Granted ( Million IRR)

33. BANK PASARGAD Key Performance Measures Performance 20th March 2007
The Millennium Bank
Performance
20th March 2007
19th March 2008
20th March 2009
20th March 2010
20th Jan 2011
Operating Income ( Million IRR )
2,140,040
6,746,680
12,963,796
19,979,181
20,825,093
Profit before Tax ( Million IRR )
857,368
1,679,670
2,446,123
3,548,255
5,706,252
Total Equity ( Million IRR )
4,337,896
7,096,491
10,129,926
12,653,712
29,007,612
Operating Income (Million IRR)
Profit before Tax (Million IRR)

34. BANK PASARGAD Key Performance Measures Performance 20th March 2007
The Millennium Bank
Performance
20th March 2007
19th March 2008
20th March 2009
20th March 2010
20th Jan 2011
Earning Per Share (EPS)
IRR 228
IRR 310
IRR 335
IRR 437.9
IRR 185
(ROE) Return on Equity
18.41 %
22.91 %
23.15 %
26.65 %
14.75 %
(DPS) Dividend Per Share
IRR 175
IRR 200
IRR 220
IRR 300 -
Return on Assets (ROA)
3.62 %
2.85 %
2.47 %
2.75 %
2.53 %
(Million IRR) Capital Adequacy Ratio
28.29 %
18.02 %
15.87 %
16.26 %
20.90 %
Dividend per Share (DPS)
Earning per Share (EPS)

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

36. BANK PASARGAD Financial Ratios:
The Millennium Bank
The following table presents Bank Pasargad's main financial ratios:
Indices
March 2009
March 2010
January 2011
Capital Adequacy Ratios
Capital Adequacy
15.87%
16.26%
20.90%
Equity to Assets
10.66%
10.31%
17.15%
Facilities Granted to Equity
6.47
6.26
3.54
Deposits To Equity 8
8.3
4.57
Liquidity
Deposits to Assets
85%
86%
78.5%
Asset Quality
Facilities Reserves to Total Facilities Granted Ratio
2.32%
3.99%
4.43%
Performance Ratios
Return on Assets
3.08%
3.09%
2.53%
Facilities Composition
Facilities Granted to Total Deposits
81%
75%
77.38%
Facilities Granted to Total Assets
69%
64%
60.73%
Growth
Assets Growth
67%
29%
38%
Deposits Growth
31%
25.73%
Facilities Growth
62%
21%
35%
Total Income Growth
93%
54% -
Net Profit Growth
44%
Efficiency Indices (Million IRR)
Per Capita Income
6,547
8,085
Deposits to Human Capital
34,932
40,137
47,201
Facilities Granted to Human Capital
28,345
30,116
36,523

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.
Description
20th March 2008
20th March 2009
20th March 2010
20th Jan 2011
Total
(Million IRR)
48,897,965
80,761,865
105,560,714
132,730,825
Deposit Structure
(Million IRR)
Total Deposits Growth
(Million IRR)
20th Jan 2011
20th March 2010
20th March 2009
20th March 2008
Type
4,504,833
4,928,493
3,613,347
4,349,395
Call Deposits
938,434
921,720
368,236
167,845
Saving Deposits
121,922,530
96,751,649
73,664,318
43,028,466
Term Deposits
5,365,028
2,958,852
3,115,964
1,352,259
Other Deposits

38. Foreign Exchange Major Operations
Foreign Exchange Operations
BANK PASARGAD
The Millennium Bank
Foreign Exchange 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.  Bank Pasargad's foreign exchange operations include:
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)
Description
March 2007
March 2008
March 2009
March 2010
20th Jan 2011
Sight L/C
62,094
387,438
628,933
255,505
753,408
Deferred Payment L/C
119,594
240,738
500,817
684,065
1,727,484
Refinance L/C
38,158
311,854
393,760
272,665
900,328
Total Import L/C
219,846
940,030
1,523,510
1,212,235
3,381,212
Import Documentary Bills of Exchange -
36,985
97,696
86,486
66,932
Export L/C
281
54,591
115,880
91,977
22,711
Internal L/C (IRR billion)
543
1,695
2,853
1,682
2,631
Guarantees Issued
12,247
26,250
86,712
242,000
256,843
Inward Payment Orders
32,648
77,542
626,737
1,195,609
818,573
Outward Payment Orders
339
37,094
240,252
831,784
1,729,835

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

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

43. BANK PASARGAD Key Contacts
The Millennium Bank
International Affairs Director Foreign Exchange Operations Director
Mr.Mohammad Amir Davoud Mr. Sadegh Pourasghari
Tel: Tel:
Fax: Fax:
Treasury Payment Orders
Tel: Tel:
Tel:
Correspondent Banking Guarantees
Tel: Tel: