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Pasargad financial group

Latest currency and stock price of Pasargad Bank
Last Update : 2012-02-22
Currency Buy Sell
USD ; 12,24512,310
EUR ; 16,20016,280
GBP ; 19,30419,399
CHF ; 13,40713,487
AED ; 3,3383,379
JPY100 ; 15,32315,408
CNY ; 1,9281,973
KRW1000 ; 10,86910,939
; 1,8351,870
; 6,9777,037
; 31,78831,938
; 3,3633,398
; 402417
Pasargad Bank's last traded stock price: '1842' Rials
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History of Bank Pasargad

 

Following Article 98 of the Third Economic, Social and Cultural Development Plan of the Islamic Republic of Iran, enacted on April 7th 2000, and the Single Article of "Permission for Establishment of Non-Governmental Banks" ratified on April10th 2000, an opportunity was created for establishment of private banks in Iran, post 1979 Islamic Revolution.
Based on the above, the Central Bank of Iran (CBI), started issuing private bank licenses, which allowed private banks enter into the Iranian banking market.
  
In 2004 the core founders of Bank Pasargad, including experts in banking industry, such as former governor of the CBI and senior directors of state-owned banks decided to establish a nationwide private bank.  
 
Pasargad Bank was launched in two phases: 
 
  • Establishment of a financial and professional holding company
 
  • Subsequently Initial Public Offering (IPO) was announced and took place with the above company as the major shareholder along with its core founders. At this stage, invitation was sent to investors including private pension funds, EPC companies, construction companies, and other well-known professionals in industry, medical, law, education and trade fields.
 
 After 12 months of extensive collaboration and thorough analysis, Pars Arian Investment Company was established and registered as a public limited company with 400 shareholders and a paid-up capital of IRR 1,000 billion (approx. USD 109 million which was later increased to IRR 1,800 billion (approx. USD 194 million.)
Upon receiving approval from the CBI, Bank Pasargad, issued its IPO on August 2nd 2005 as the fifth Iranian private bank with an intended paid up capital of IRR 2,500 billion (approx. USD 270 million.) the result of which was total number of 33,000 subscribers with an approx. total payment of over IRR 3,500 billion. 
 
Based on this public magnificent  reception, Bank Pasargad increased its initial paid up capital to IRR 3,500 billion (approx. USD 388 million).
 
Registration:September 4th 2005 with Company Registration Bureau in Tehran
                      under registration number 254300.
License: September 13th 2005 issued by the CBI under ref. No. H/2849 followed by
License: March 18th 2006 for Trade Finance and Full International Banking
               Operations, under ref.Operations, under ref. No. NAB7280.