annual report 2012 / 2013 · 56 annual report 2012 / 2013 assets: note 20 march 2013 (restated) 19...

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Annual Report2012 / 2013

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REPORT OF THE INDEPENDENT AUDITOR

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INCOME: Note 2013/2012 (Restated) 2012/2011

m.IRR m.IRR

Incom on Credit Facilities Granted 38 30,000,929 22,614,373 Incom on Investment and Deposits 39 7,539,284 5,457,540 Sales and Services Income 40 10,031,614 11,642,664 Commission Income 41 4,975,775 2,428,808 Foreign Exchange Transactions - Net Gain 42 8,572 517,184 Other Income 43 833,369 397,954 Total Income 53,389,543 43,058,523 Expenses: Depositor’s Share of Joint Income 44 (24,554,316) (18,839,712)Cost of Goods and Services Sold 46 (8,617,353) (10,707,306)Personnel Expense 47 (1,621,462) (1,176,788)General and Administrative Expense 48 (1,197,683) (938,635)Doubtful Debts Expense 49 (1,689,547) (780,832)Finance Cost 50 (1,061,078) (442,353)Net Other Income (Expense) 51 (22,194) (218,123)Total Expense (38,763,633) (33,103,749)Profit Before Tax 14,625,910 9,954,774 Tax (1,068,099) (412,739)Net Profit 13,557,811 9,542,035 Minority Interest (1,337,109) (501,240)

Earning per Share (Based on Number of Shares Outstanding at Balance Sheet Date)

Earning per Share-IRR. 407.36 331.67 Number of Shares Outstanding at Balance Sheet Date (Million Shares) 30,000 27,258 Earning Per Share-IRR. (Based on Weighted Average Number of Shares Outstanding During the Year after Tax)

Earning per Share-IRR. 428.65 346.66

Weighted Average Number of Shares Outstanding During the Year (Million Shares) 28,510 26,080

Movements of Consolidated Retained Earnings

Net Profit 13,557,811 9,542,035 Retained Earnings at the Beginning of the Year 8,209,665 5,592,128 Prior Periods Adjustments (2,842,834) (3,714,405)Retained Earnings Available for Allocation 18,924,642 11,419,758 Less: Profit Allocation Declared Dividends (6,310,796) (4,162,831)Statutory Reserve (1,986,985) (1,398,293)Discretionary Reserve (662,329) (491,803)Capital Raise (16,200) - Total Profit Allocated During the Year (8,976,310) (6,052,927)Retained Earnings at the End of the Year 9,948,332 5,366,831 Minority Interest in Retained Earnings 434,953 615,754

BANK PASARGAD (P.L.C)

COMPREHENSIVE CONSOLIDATED STATEMENT OF INCOME FOR YEAR ENDED MARCH 20, 2013

2013/2012 (Restated) 2012/2011

m.IRR m.IRR

Net Profit 13,557,811 9,542,035 Unrealized Loss (3,056) (1,500)Comprehensive Prof 13,554,755 9,540,535 Prior Periods Adjustments (2,842,834) (3,720,462)Total Recognized Comprehensive Profit (from Last Year Report)

10,711,921 5,820,073

Minority Interest 1,306,582 461,807

BANK PASARGAD (PLC.)CONSOLIDATED STATEMENT OF INCOME FOR FINANCIAL YEAR ENDED MAECH 20, 2013


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Note 20 March 2013 (Restated) 19 March 2012

m.IRR m.IRR

OPERATING ACTIVITIES:

Net Cash In-flow (Out-flow) from Operating Activities 52 20,849,925 22,808,763

RETURN ON INVESTMENTS AND SERVICING OF FINANCE:

Dividends Received 193,400 168,211

Dividends Paid (4,241,063) (224,840)

Finance Cost (337,564) (868,070)

Net Cash In-flow (Out-flow) from Return on Investments and Servicing of Finance (4,385,227) (924,699)

TAXATION:

Corporate Taxes Paid (1,989,721) (337,355)

INVESTING ACTIVITIES:

Proceeds from Sale (Payments for Acquisition) of Investments & Participations (584,049) (8,862,501)

Payments for Purchase of Tangible Fixed Assets (12,065,342) (5,332,794)

Proceeds from Sale (Payment for Acquisition) of Investments 1,927,299 907,799

Payments for Acquisition of Intangible Assets (5,483) (304,101)

Proceeds from Sale of Fixed Assets 1,820,750 102,560

Net Cash In-flow (Out-flow) from Investing Activities (8,906,825) (13,489,037)

Net Cash In-flow (Out-flow) before Financing Activities 5,568,152 8,057,672

FINANCING ACTIVITIES:

Receipts from Capital Raise 579,202 921,562

Receipt of Facilities 4,521,308 6,990,841

Net Cash In-flow (Out-flow) from Financing Activities 5,100,510 7,912,403

Foreign Currency Fluctuations 8,572 517,027

Net Increase (Decrease) in Cash 10,677,234 16,487,102

Cash at the Beginning of the Year 18,352,534 1,865,432

Cash at the End of the Year 29,029,768 18,352,534

BANK PASARGAD (PLC.)CONSOLIDATED STATEMENT OF CASH FLOW FOR THE FINANCIAL YEAR ENDED MARCH 20, 2013


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w w w . b p i . i r60


Note 2013/2012 (Restated) 2012/2011

m.IRR m.IRR

JOINT INCOME:

Income on Credit Facilities Granted 38 32,063,460 24,137,335

Income on Investments and Deposits 39 7,092,945 5,088,007

Gross Joint Income 39,156,405 29,225,342

On-Account Payment to Depositors 44 (24,882,089) (19,078,331)

Bank’s Share of Joint Income 14,274,316 10,147,011

Non-Joint Income

Income on Investments and Deposits 39 31,721 61,245

Commission Income 41 4,843,655 2,335,786

Foreign Exchange Transaction Gain (Loss) 42 8,572 517,184

Other Income 43 402,703 231,391

5,286,651 3,145,606

TOTAL INCOME 19,560,967 13,292,617

EXPENSE

General and Administrative Expense 47-48 (2,731,396) (2,154,758)

Doubtful Debts Expense 49 (1,847,631) (775,944)

Fee and 50 (792,800) (202,095)

TOTAL EXPENSE (5,371,827) (3,132,797)

Profit before Tax 14,189,140 10,159,820

Tax (942,572) (323,741)

Net Profit 13,246,568 9,836,079

Earning Per Share Information

Earning Per Share-IRR. (Based on Number of Shares Outstanding at Balance

Sheet Date Million Shares) 441.55 360.85

Number of Shares Outstanding at Balance Sheet Date 30,000 27,258

Earning per Share-IRR. (Based on Weighted Average Number of Shares

Outstanding During the Year) 464.62 377.15

Weighted Average Number of Shares Outstanding During the Year Million Shares 28,510 26,080

Movements of Retained Earnings

Net Profit 13,246,568 9,836,079

Retained Earnings at the Beginning of the Year 9,114,299 5,525,117

Prior Periods Adjustments (Mainly Prior Years) (2,797,194) (2,909,086)

Earnings Available for Allocation 19,563,673 12,452,110

Less: Profit Allocation

Declared Dividends (6,279,130) (4,167,790)

Statutory Reserve (1,986,985) (1,475,412)

Discretionary Reserve (662,329) (491,803)

Capital Raise (16,200)

Approved Payable Profit (8,944,644) (6,135,005)

Retained Earnings 10,619,029 6,317,105

BANK PASARGAD (PLC.)STATEMENT OF INCOME FOR THE FINANCIAL YEAR ENDED MARCH 20, 2013


w w w . b p i . i r 61



m.IRR m.IRR

OPERATING ACTIVITIES:

Net Cash In-flow (Out-flow) from Operating Activities 53 18,526,628 12,985,026

RETURN ON INVESTMENTS AND SERVICING OF FINANCE:

Dividends Received 690,020 513,300

Dividends Paid (4,138,713) (14,315)

Net Cash In-flow (Out-flow) from Return on Investments and Servicing of Finance

(3,448,693) 498,985

TAXATION:

Corporate Taxes Paid (2,020,936) (267,887)

INVESTING ACTIVITIES:

Payments for Acquisition of Investments (593,044) (2,086,466)

Payments for Purchase of Fixed Assets (2,747,574) (1,887,256)

Payments for Acquisition of Intangible Assets (494,780) (225,947)

Proceeds from Sale of Investments 444,845 11,905

Activities (3,390,553) (4,187,764)

Net Cash In-Flow (out-Flow) Before Financing Activities 9,666,444 9,028,360

FINANCING ACTIVITIES:

Receipts from Subscription of Share Capital 579,202 921,562

Net Cash In-flow (Out-flow) from Financing Activities 10,245,646 9,949,922

Foreign Currency Fluctuations 8,572 517,183

Net Increase (Decrease) in Cash 10,254,218 10,467,105

Cash at the Beginning of the Year 18,142,854 7,675,750

Cash at the End of the Year 28,397,072 18,142,855

Non-Cash Transactions 54 4,596,140 8,056,438

BANK PASARGAD (PLC.)STATEMENT OF CASH FLOW FOR THE FINANCIAL YEAR ENDED MARCH 20, 2013


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Group Bank

2013/2012 2012/2011 2013/2012 2012/2011

Number of Employees

Number of Employees

Number of Employees

Number of Employees

Headquarters 518 476 518 476

Tehran Branches 1,816 1,702 1,816 1,702

Other Cities Branches 1,057 1,054 1,057 1,054

Employees in Training 5 19 5 19

Affiliate Companies 3,324 2,457 - -

Total 6,720 5,708 3,396 3,251

1-4- Branches:The Bank’s number of branches were as follows at the year End:

Bank

2013/2012 2012/2011

Tehran Branches 192 192

Other Cities’ Branches 103 102

Free Zone Branches 2 2

Total 297 296

1- BANK’S ACTIVITIES

1-1- Background:Bank Pasargad was established in accordance with the establishment law of private banks of Iran, and was registered under No-254300 with the Tehran Companies Registrar Office on September 4, 2005. The Central Bank of the Islamic Republic of Iran (CBI) issued The Banking Operation License No-2849 on September 13, 2005. The head office is located at: No. 430, Mirdamad Blvd., Tehran 19697-74511, Iran

1-2- Activities: Bank Pasargad offers all kinds of banking products and services; core business includes commercial, retail, and wholesale banking. All banking activities are performed in accordance and in compliance with the regulatory laws, set by CBI.

1-3- Number of employees:Number of employees working for the Bank and the Group were as follows at year End:

BANK PASARGAD (PLC.)NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL YEAR ENDED MARCH 20, 2013


w w w . b p i . i r 63


2- BASIS FOR PREPARATION OF FINANCIAL STATEMENTS

The Bank’s financial statements are prepared on a historical cost basis; revenues and expenses are recorded on accrual basis and in certain circumstances current values are used as well.

3- BASIS FOR CONSOLIDATION

3-1- Consolidated financial statements have been prepared based on summation of financial statements of the bank and its relevant subsidiaries after elimination of the effects of intercompany transactions and profit or losses thereto.3-2- As for subsidiaries acquired during the year, results of operations of such subsidiaries are reflected in the consolidated financial statements from date of acquisition of full-effective control and for subsidiaries sold during the year, results of operation up to date of sold would be duly reflected in the consolidation.3-3- Fiscal year of two subsidiaries namely, Pasargad Arian Construction Co. and Pasargad Mass-Construction Development Co., end in November; however, their financial statements have been consolidated with those of the Bank in the same bases using interim information with required postbalance sheet date adjustments.

4- SIGNIFICANT ACCOUNTING POLICIES

4-1- Inventories:Inventories of raw material and goods are valued at “lower of cost and net sale value” of each item. If net realizable value is less than the cost, required provisions are reflected in the accounts. Cost of inventories are calculated using weighted average method.

4-2- Investments:In Group Consolidated Account In Parent Company Account

LONG-TERM INVESTMENTS

Valuation:

Investments in Subsidiaries Eligible for Consolidation

Consolidation Method Cost method (less provision for permanent decrease in value of investment)

Long-term Investment in Affiliates Equity Method Cost method (less provision for permanent decrease in value of investment)

Other Long-Term Investments Cost Method Cost method (less provision for permanent decrease in value of investment)

SHORT-TERM INVESTMENTS

Marketable Investment Lower of cost or net realizable value investment portfolio

Lower of cost or NRV value of portfolio

Other Short-term Investments Lower of cost or NRV for each investment item

Lower of cost or NRV value of each investment item

Revenue Recognition:

Investment in Subsidiaries Eligible for Consolidation Upon approval of dividend by investee’s AGM (up to authorization of financial statements)

Investment in Associate Equity Method Upon approval of dividend by investee’s AGM (up to authorization of financial statements)

Other Long- term & Short-term Investments

Cost Method Upon approval of dividend by investee’s AGM (up to the balance sheet date)

Pasargad Financial Group:The group of companies related to Bank Pasargad are categorized as “Pasargad Financial Group” irrespective of subsidiary or associate of the Bank.



w w w . b p i . i r64


4-3- Recognition of Revenue in the Parent CompanyIn accordance with paragraph 62 of the Bank Pasargad Article of Association, income from banking activities and financial facilities granted, is recorded on accrual basis. Income from banking services is realized when received. Income from investment in subsidiaries and affiliated companies is realized when declared by the investee (up to the date of authorization of financial statements). Differences arising from fluctuation in exchange rates, are recorded as revenue or loss of the period incurred. 4-4- Income from Installments Sales in Subsidiaries Income from installment sales in subsidiaries is recognized in installments. Installments’ include the principal investment plus return and, in some cases, an insurance premium.

4-5- Revenue on Lease Arrangements Revenue from capital lease arrangements is realized in installments, based on rental payments. Lease payments include investment in principal and returns earned. 4-6- Recognition of Late Payment Penalty Income In subsidiaries, late payment charges are calculated on the basis of rates stipulated in leasing contracts. However, to comply with the principle of conservatism, additional penalty charges are realized when received. 4-7- Revenues arising from lease arrangements in subsidiaries Leased properties are reflected at cost less accumulated depreciation. Depreciation is calculated on the basis of the lease net investment (in installment payments of lease) as per the related contract from the date of first installment payment using the following methods:

A- Future value of investment is calculated on the basis of the rate stipulated in the lease agreement starting from date of payment up to the first installment as “Capital”. B- Using the rate stipulated in the lease agreement, the implied return on capital is calculated at the inception of lease is calculated and any remaining differences will the depreciated along with installments.C- Investment in the beginning of each installment comprises lease capital less any depreciation calculated up to that date. D- Total depreciation expense comprises sum of annual deprecation of the assets. Maintenance and repair expenses, if any, shall be borne by the lessee.

4-8- Recognition of Projects Income (Subsidiaries) In accordance with accounting standard No.29 income from construction projects is calculated on the basis of projects’ percentage of completion. Construction costs include all expenditures related directly or indirectly to the project or allocated to it. Revenue is realized when sales are finalized, at least 20 percent of the price is received, construction activities are started and net proceeds from the project are reasonably measured . 4-9- Revenues from Insurance Contracts (Subsidiaries )

• Income from non-life insurance policies: Considering reserves provided for losses and unearned premium, net insurance premiums for non-life insurance are realized as income from insurance policies over the policy period and over loss acceptance period (for Re-insurance Agreements).• Income from life insurance policies: • Revenue from life insurance policies is realized when received and after deducting of policies returned.Reserves for contingent insurance losses are provided in the accounts, in accordance with the by-laws prescribed by the “High Council of Insurance” and the modifications thereto as well as other obligations imposed on insurance companies.



w w w . b p i . i r 65


4-10- Fixed Assets

4-10-1- Tangible fixed assets are recorded at historical cost. Expenditures enhancing useful life, capacity or quality of such assets are capitalized and depreciated. General repair and maintenance charges are recorded as expense when incurred.

4-10-2- Fixed assets are depreciated in accordance with the rules stipulated in Article 151 of the Direct Taxation Act, using the following rates and methods.

4-10-3- Fixed assets acquired during the month are depreciated starting from the following month. In cases which assets are not deployed after its readiness due to working halt or other reasons, depreciation is calculated on 30 % above mentioned rate.

4-11- Intangible Assets In accordance with regulations set by CBI, no amortization is assumed for lease-hold premium paid for branch sites, offices, and land by the Bank. Software are amortized over three years using the straight-line method. No amortization is calculated for other intangible assets. 4-12- Realization of Income from Credit Facilities, Fines and CommissionsIn accordance with banking regulations, income from banking activities and credit facilities granted are recorded on accrual basis are as follows:

Fixed Assets Dep. Rate Dep. Method

Buildings 7%, 8%, 10% Reducing balance

Installations 20% Reducing balance

Motor Vehicles 25 % & 30% Reducing balance

Computer Hardware 3 Years Straight line

Communication Equipment 10 Years Straight line

Furniture & Fixtures 10 Years Straight line

ATM POS Machines 3 Years Straight line

Type of Income Basis for Recognition of Income

Income from facilities grantedBased on time period, balance of facilities granted and minimum expected

income

Late payment chargesBased on time period, amount of delayed payments and charge rates

foreseen in the contract on accrual basis

Commission on L/Gs When L/G is issued

Other banking services commissions When services are rendered

4-13- Basis for Calculating the Depositors’ Share of the Bank’s Joint Income:In accordance with the usury-free banking law and related regulations, income arising from facilities granted, income from investment in stocks and income from participation papers are considered as “Joint Income”; it is divided on the basis of investment capital contributed (by depositors and the Bank).



w w w . b p i . i r66


4-14- Classification of Granted Facilities:Financial facilities are classified based on rules established by the Money and Credit Council of CBI and on the basis of time delayed payment, financial status of customer and customer’s industry, with the following categories:

Current:Maximum 2 months over-due; customer is in good financial position and industry has acceptable prospectOver-due:2 to 6 month over-due; customer is in good financial position and industry has limited growthBad Debt:6 to 18 months over-due; customer is not in good financial position and industry faces major limitationsDoubtful Debt:More than 18 months over-due; customer does not have an acceptable financial position

4-15- Provision for Doubtful Accounts: Allowance is provided for doubtful accounts, based on the Money and Credit Council of CBI, as follows:

• General provision, equal to 1.5 percent of facilities balance except overdue, deferred and doubtful accounts in which allowance for special impairment loss is provided.• Over due category 10% • Bad Debt category 20% • Doubtful debt category (based on customers capabilities) 50% to 100% • Doubtful debt category more than five years over-due 100%

4-16- Provision for Termination PayA provision, equivalent to one month salary for each full year of service, is provided in the accounts to cover employees’ termination pay.

4-17- Financial Expenses Financial expenses are recognized as expense in the period incurred, except charges directly related to acquiring an asset.

4-18- Foreign Exchange Transaction Monetary assets and liabilities in foreign currencies are converted into IRR Reference exchange rate prevailing at balance sheet date; any differences arising from exchange rate fluctuations are recorded as Foreign Exchange Translation gain or loss of the period.

4-19- Goodwill in Consolidated Financial Statements Goodwill arising from application of the purchase method in preparing consolidated financial statements is amortized over a 20 year period.



w w w . b p i . i r 67


Group Bank

Note 20 march 2013 (Restated)

19 March 2012 20 March 2013

(Restated)19 March 2012

m.IRR m.IRR m.IRR m.IRR

Cash in Hand 5-1 640,996 748,959 637,172 746,054

Notes in Foreign Currencies 226,343 407,230 120,926 365,226

Other 500,431 159,931 - -

Petty Cash 23,024 4,840 - -

Total Cash 1,390,794 1,320,960 758,098 1,111,280

20 March 2013 (Restated) 19 March 2013

Reserve Requirement

Ratio %m.IRR

Reserve Requirement

Ratio %m.IRR

Short-term Deposits 15.5 9,874,534 15.5 7,172,918

Demand Deposits 17 4,030,830 17 1,757,206

Saving Deposits 10 46,983 10 31,956

Two to Three Years Term Deposits 11 1,665,206 11 1,133,234

Four Years Term Deposits 10 16,649 10 27,745

Five Years Term Deposits 10 7,966,275 10 6,805,336

L/G Deposits 17 339,392 17 263,957

L/C Advances 17 25,551 17 21,986

Free-zone Deposits 10 229,502 10 234,247

Total 24,194,922 17,448,585


m.IRR m.IRR

Statutory Deposit 6-1 24,194,922 17,448,585

Statutory Deposit Reward 208,320 169,395

Foreign Currency Demand Deposits with CBI 2,689,669 1,781,463

Other 6-2 1,452,082 1,452,082

Total 28,544,993 20,851,525

6-1- Statutory deposit with CBI is computed on the basis of Paragraph (3) of Article 14 of the Monetary and Banking Law of Iran, and in accordance with the provisions imposed by the Money and Credit Council, as follows:

6-2- The amount of m.IRR 1,452,082 was withdrawn from Bank Pasargad’s account by CBI on March 5, 2012 in accordance with CBI director’s order. The Bank has sent five letters to CBI on March 6, May 26, October 4,2012 and March 14, 2013.

5-1- Cash is counted at the end of the year. Cash is insured against theft and fire by Pasargad Insurance Co.



5- CASHBalance of cash includes:

6- DUE FROM CBIAmounts due from CBI includes the following items receivable by the parent company.

w w w . b p i . i r68



m.IRR m.IRR

Deposits with Local Banks (IRR.) 7-1 15,894,068 14,451,630

Long Term Deposits with Foreign Banks (foreign currencies) 7-2 2,275,523 1,195,827

Demand Deposits with Banks (Foreign Currencies) 7-2 27,630,710 17,016,764

Cheque in Clearing House 5,687,426 2,990,753

Total 51,487,727 35,654,974

7-1- Deposits with local banks (IRR)

20 March 2013 - m.IRR 19 March 2013 - m.IRR

Demand Deposits

Term Deposits

TotalDemand Deposits

Term Deposits

Total

Ghavamin Bank - - - - 15,001 15,001

Mehr Finance and Credit Institute - 2,217,585 2,217,585 - 2,387,275 2,387,275

Samen Finance and Credit Institute - 133,095 133,095 - 1,525,891 1,525,891

Mellat Bank 218 596,017 596,235 171 1,202,535 1,202,706

Sina Bank - 900,202 900,202 - 1,200,003 1,200,003

Melli Bank 2,835 201,914 204,749 1,912 80,294 82,206

Saderat Bank 3,253 4,198,016 4,201,269 5,553 2,079,212 2,084,765

Tejarat Bank 1,435 2,292,829 2,294,264 5,886 1,935,301 1,941,187

Sarmayeh Bank - 903,509 903,509 - 303,619 303,619

Tose'eh Finance and Credit Institute - - - - 400,000 400,000

Keshavarzi Bank - 55,120 55,120 - 155,082 155,082

Sepah Bank 255 983,672 983,927 1,034 435,498 436,532

Maskan Bank 63 92,425 92,488 - 38,631 38,631

Bank of Industry and Mine - 9,480 9,480 - 8,843 8,843

Refah Kargaran Bank 5 132,567 132,572 - 565,608 565,608

Tose'eh Ta'avon Bank - 455 455 - - -

Shahr Bank - 849,465 849,465 - 17,463 17,463

Tourism Bank - 1,150,000 1,150,000 - 1,150,000 1,150,000

Karsazan Ayandeh Credit Union - 18,393 18,393 - 135,817 135,817

Samen-Alhojaj Credit Union - 59,373 59,373 - - -

Molalmovahedin Credit Union - - - - 300,000 300,000

Bank Day - 826,328 826,328 - 500,000 500,000

Eghtesad Novin Bank - 10,673 10,673 - - -

Ansar Bank - 254,680 254,680 - - -

Other 200 6 206 254 747 1,001

Total 8,264 15,885,804 15,894,068 14,810 14,436,820 14,451,630



7- DUE FROM OTHER BANKS AND FINANCIAL INSTITUTIONS

The balance of this account includes the following items, receivable by the parent company.

w w w . b p i . i r 69


7-2-

For

eign

Exc

hang

e Dep

osits

, seg

rega

ted

base

d on

type

of c

urre

ncy,

dep

osit

and

bank

(loc

al o

r for

eign

), w

ere a

s fol

low

s at b

alan

ce sh

eet d

ate:

US

DEU

RG

BP

JPY

AED

CH

FS

EK

TR

YC

NY

KR

WR

UB

INR

Tota

l

Invest

men

tsU

S D

ollar

m.I

RR

Eu

rom

.IR

RU

K P

ou

nd

m.I

RR

Japan

ese

Y

en

m.I

RR

UA

E D

irh

am

m.I

RR

Sw

iss

Fra

nc

m.I

RR

Sw

edis

h

Kro

na

m.I

RR

Tu

rkis

h L

ira

m.I

RR

Ch

inese

Yu

an

m.I

RR

Sou

th K

ore

an

W

on

m.I

RR

Ru

ssia

n

Ru

ble

m.I

RR

In

dia

n R

upee

m.I

RR

Base

d o

n

Exch

an

ge

Refe

ren

ce

Rate

s (m

.IR

R)

Base

d o

n B

an

k's

B

ooks

(m.I

RR

)

Dem

and

Dep

osits

(For

eign

Cur

renc

ies)

:

Dem

and

Dep

osits

with L

ocal

Ban

ks

(For

eign

Curr

enci

es)

37,8

27,3

20

463,7

63

18,6

32,6

53

294,7

12

90,1

21

1,6

68

4,0

31,0

66,0

91

555,8

08

3,6

79,6

14

12,2

75

-

-

-

-

-

-

-

-

615,5

84,1

24

6,7

70

883,4

82,8

65

363,2

21

1,6

98,2

17

1,6

98,2

17

Dem

and

Dep

osits

with

Fore

ign

Ban

ks

(For

eign

Curr

enci

es)

348

4

434,2

53,4

53

9,5

99,1

05

1,0

05,8

40

18,6

20

276,4

01,5

38

35,7

80

145,3

81,8

65

484,9

94

7,0

97

92

588,7

85

1,1

18

80,5

73,3

03

608,0

56

2,3

23,0

89,0

46

6,0

07,5

99

114,8

01,4

15,2

92

2,5

23,2

65

-

-

23,4

23,7

06,5

74

6,6

53,8

60

25,9

32,4

93

25,9

32,4

93

Tota

l D

eman

d

Dep

osits

with B

anks

(F

orei

gn

Curr

enci

es)

37,8

27,6

68

463,7

67

452,8

86,1

06

9,8

93,8

17

1,0

95,9

61

20,2

88

4,3

07,4

67,6

29

591,5

88

149,0

61,4

79

497,2

69

7,0

97

92

588,7

85

1,1

18

80,5

73,3

03

608,0

56

2,3

23,0

89,0

46

6,0

07,5

99

115,4

16,9

99,4

16

2,5

30,0

35

883,4

82,8

65

363,2

21

23,4

23,7

06,5

74

6,6

53,8

60

27,6

30,7

10

27,6

30,7

10

Term

D

epos

its:

Long-t

erm

D

epos

its

with

Fore

ign

Ban

ks

(For

eign

Curr

enci

es)

-

-

52,5

00,0

00

830,3

93

-

-

-

-

130,0

00,0

00

433,6

80

-

-

-

-

150,0

00,0

00

1,0

11,4

50

-

-

-

-

-

-

-

2,2

75,5

23

2,2

75,5

23

Tota

l Lo

ng-t

erm

D

epos

its

-

-

52,5

00,0

00

830,3

93

-

-

-

-

130,0

00,0

00

433,6

80

-

-

-

-

150,0

00,0

00

1,0

11,4

50

-

-

-

-

-

-

-

-

2,2

75,5

23

2,2

75,5

23

Tota

l 3

7,8

27,6

68

463,7

67

505,3

86,1

06

10,7

24,2

10

1,0

95,9

61

20,2

88

4,3

07,4

67,6

29

591,5

88

279,0

61,4

79

930,9

49

7,0

97

92

588,7

85

1,1

18

230,5

73,3

03

1,6

19,5

06

2,3

23,0

89,0

46

6,0

07,5

99

115,4

16,9

99,4

16

2,5

30,0

35

883,4

82,8

65

363,2

21

23,4

23,7

06,5

74

6,6

53,8

60

29,9

06,2

33

29,9

06,2

33

BA

NK

PA

SAR

GA

D (

PLC

.)N

OT

ES T

O C

ON

SOLI

DA

TED

FIN

AN

CIA

L ST

AT

EMEN

TS

FIN

AN

CIA

L Y

EAR

EN

DED

MA

RC

H 2

0, 2

013


w w w . b p i . i r70


9- CREDIT FACILITIES GRANTED

9-1- Facilities granted were as follows at balance sheet date:


m.IRR m.IRR

Participation Papers Purchased from Other Banks 2,621,286 3,210,350

Participation Papers of Development Plans 7,871,835 347,450

Other Paper 1,371,350 2,267,918

Total 11,864,471 5,825,718

20 March 2013

Issue DateRepayment

Date

Provisional rate of return (Percentage)

Nominal Amount (m.IRR)

Ministry of Energy 3/10/2009 2/12/2016 20 2,008,760

Siah Bisheh Dam and Pumping Energy Plant 24/7/2010 7/24/2014 20 40,000

Deposit Certificate 20/2/2012 2/18/2014 20 1,371,350

Mashhad Municipality 20/2/2010 3/6/2015 20 1,628,640

Government Civil Plans 11/22/2009 8/22/2016 20 2,992,705

Government Civil Plans 3/10/2010 5/5/2013 8 790,850

South Pars Gas Expansion 6/11/2010 10/6/2016 20 992,646

CBI 13/10/2012 12/16/2013 20 839,520

Iranian Offshore Oil Company (IOOC) 7/1/2013 1/7/2017 20 1,200,000

Total 11,864,471

Group Bank

20 March 2013 (Restated)19 March 2012 20 March 2013 (Restated)

19 March 2012


Total facilities 172,537,974 135,271,269 183,076,898 143,750,803

Less: Deferred income (1,396,487) (1,196,628) (1,344,478) (1,328,362)

General Provision for Doubtful Debts (4,992,863) (3,212,612) (5,150,947) (3,212,612)

Special Provision for Doubtful Debts (1,792,247) (1,882,950) (1,792,247) (1,882,950)

Total 164,356,377 128,979,079 174,789,226 137,326,879



8- PARTICIPATION PAPERS

The balance of this account includes the following items receivable by the parent company:

w w w . b p i . i r 71


9-1-1- Balance of bank facilities granted includes the following at balance sheet date:

9-1-3- The balance of facilities granted, categorized based on maturity date and rate of return, is as follows:

9-1-2- The following facilities, categorized in conformity with directives of the Money and Credit Council of CBI as follows:

20 March 2013

m.IRR

Current 172,552,538

Over-due Debt 2,207,606

Bad Debt 4,549,011

Doubtful Debt 3,767,743

Total 183,076,898

Less: Deferred Income (1,344,478)

Provision for Doubtful Accounts (General) (5,150,947)

Provision for Doubtful Accounts (Special) (1,792,247)

Total 174,789,226

20 March 2013 19 March 2012

BalanceDeferred interest

Provision for bad debt Net Balance (Net)


Credit Facilities (IRR) 172,057,152 (1,344,478) (6,522,178) 164,190,496 128,258,523

Qarz-ol-hassaneh(interest-free loan) 2,428,848 (92,795) 2,336,053 2,860,407

Debtors-L/Cs 8,071,589 (308,380) 7,763,209 5,722,503

Debtors-L/Gs 519,309 (19,841) 499,468 485,446

Total 183,076,898 (1,344,478) (6,943,194) 174,789,226 137,326,879

20 March 2013

Higher than

24% 21-24 % 18-21 % 15-18 % 12-15 %

12% and

lower Total

m.IRR m.IRR m.IRR m.IRR m.IRR m.IRR m.IRR

Over-due Debt 7,252,078 3,003,897 - 329 161 267,896 10,524,361

20/3/2014 96,575,897 18,917,654 10,779,778 433,671 738,534 25,723,553 153,169,087

19/3/2015 6,236,951 1,897,392 18,218 590,671 77,741 49,237 8,870,210

20/3/2016 3,157,766 353,769 349,626 54,193 163,754 9,864 4,088,972

After 20/3/2016 1,591,541 1,019,748 627,623 136,755 225,079 2,823,522 6,424,268

114,814,233 25,192,460 11,775,245 1,215,619 1,205,269 28,874,072 183,076,898



w w w . b p i . i r72


9-1-4- The balance of facilities granted by the Bank, categorized based on collateral, is as follows:


m.IRR m.IRR

Facilities Granted for Pledged Land and Building 32,353,553 59,354,514

Facilities Granted for Pledged Shares of Stock 3,405,638 6,620,383

Facilities Granted for Pledged Checks 147,261,713 77,722,228

Facilities Granted for Pledged Participation Papers 55,994 53,678

Total 183,076,898 143,750,803



w w w . b p i . i r 73


9-1-

5- T

urn

of F

acili

ties G

rant

ed:

Tu

rn o

f fac

ilitie

s gra

nted

by

the p

aren

t (in

the f

ram

ewor

k of

Isla

mic

ban

king

cont

ract

s) w

ere a

s fol

low

s dur

ing

the y

ear:

Faci

liti

es

Pri

nci

pal A

mou

nts

Inco

me f

rom

Faci

liti

es

Bala

nce

Mach

20

12

Gra

nte

dR

ece

ived

Marc

h

20

13

Mach

2

01

2G

ran

ted

Rece

ived

Marc

h

20

13

Mach

20

12

Marc

h 2

01

3

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

Inst

allm

ent

Sal

es

Con

trac

ts 2

,819,1

44

802,0

48

(1,0

73,5

88)

2,5

47,6

04

(849,5

94)

(217,8

76)

54,1

21

(1,0

13,3

49)

1,9

69,5

50

1,5

34,2

55

Ju'a

lah

3,2

71,7

63

10,7

21,8

02

(11,7

90,3

35)

2,2

03,2

30

(444,5

32)

(762,0

10)

885,5

94

(320,9

50)

2,8

27,2

31

1,8

82,2

80

Leas

e ar

rangem

ents

4,7

08

1,4

98

(2,3

50)

3,8

56

(605)

-

315

(290)

4,1

03

3,5

66

Qar

d A

l-H

asan

ah 2

,966,4

83

12,1

07,5

74

(12,6

45,2

09)

2,4

28,8

48

-

-

-

-

2,9

66,4

83

2,4

28,8

48

Mudar

abah

19,9

14,6

45

106,3

49,1

84

(105,9

49,0

86)

20,3

14,7

44

-

-

-

-

19,9

14,6

45

20,3

14,7

44

Zem

an 5

03,4

59

2,6

83,3

75

(2,6

67,5

24)

519,3

09

-

-

-

-

503,4

59

519,3

09

Mush

arak

ah 1

07,4

33,6

45

558,1

90,5

16

(518,6

93,6

68)

146,9

30,4

94

-

-

-

-

107,4

33,6

45

146,9

30,4

94

Fact

orin

g 9

02,1

15

419,2

89

(1,3

21,4

04)

-

(33,6

31)

-

33,6

31

-

868,4

84

-

Mura

bah

ah -

7

1,3

21

(14,0

97)

57,2

24

-

(10,8

28)

1,3

08

(9,8

89)

-

47,3

35

L/C's

5,9

34,8

41

398,1

43,4

28

(396,0

06,6

80)

8,0

71,5

89

-

-

-

-

5,9

34,8

41

8,0

71,5

89

Tota

l 1

43,7

50,8

03

1,0

89,4

90,0

35

(1,0

50,1

63,9

41)

183,0

76,8

98

(1,3

28,3

62)

(990,7

14)

974,9

69

(1,3

44,4

78)

142,4

22,4

41

181,7

32,4

20

BA

NK

PA

SAR

GA

D (

PLC

.)N

OT

ES T

O C

ON

SOLI

DA

TED

FIN

AN

CIA

L ST

AT

EMEN

TS

FIN

AN

CIA

L Y

EAR

EN

DED

MA

RC

H 2

0, 2

013


w w w . b p i . i r74


Group


m.IRR m.IRR

Trade Accounts and Notes 1,999,769 2,162,655

Receivables from Insured and Representatives 224,494 229,034

Insurers’ Share of Technical Reserves 997,601 566,630

Receivables from Insurers and Reinsurers 119,806 47,239

Receivable from Subsidiaries 312,796 211,146

Dividends Receivable 21,943 6,395

Receivable from Others 2,110,786 1,714,495

Total 5,787,195 4,937,594

Bank


m.IRR m.IRR

Saman Sakht Arian Co. 85,337 -

Modaberan Sakht Arian 23,373 -

Other Firms and Real Persons 62,823 8,293

Income on Participation Papers and Deposits 581,042 176,230

Dividend Income from Listed Companies 111,685 18,810

Daily Return Paid on Participation Papers 2,508,610 -

Other Legal Entities and Companies 1,731,066 1,043,247

Total 5,103,936 1,246,580

11-1- Balance of other accounts receivable for the bank are as follows:

Group Bank

Note 20 March 2013 (Restated)19 March 2013 20 March 2013 (Restated)

19 March 2013


Other Accounts Receivable 11-1 7,473,113 1,056,318 5,103,936 1,246,580

Notes Receivable 255,018 219,832 177,942 186,377

Other Temporary Receivables 317,117 91,116 972,046 266,102

Total 8,045,248 1,367,266 6,253,924 1,699,059



10- ACCOUNTS AND NOTES RECEIVABLE

Balance of this account is the amounts receivable by subsidiaries as follows:

11- OTHER ACCOUNTS AND NOTES RECEIVABLE

Balance of this account is comprised of the following:

w w w . b p i . i r 75


Group


m.IRR m.IRR

Inventory of Properties and Building Projects 4,150,498 3,261,027

Inventory of Goods and Parts 351,586 226,108

Inventory of Cards 9,611 13,142

Our Goods on Consignment 89,615 39,712

Total 4,601,310 3,539,989

Group


m.IRR m.IRR

Foreign orders purchase 72,708 1,051

Prepayment for purchase of goods and services 411,346 79,666

Sumptuary prepayment 2,386 459

Other prepayment 396,273 182,824

Total 882,713 264,000

Group


m.IRR m.IRR

Investment in Capital Leases at the Beginning of the Year 1,632,899 1,680,013

Additions During the Year 35,487 430,747

Reductions During the Year (500,849) (477,861)

Net Investment in Capital Leases 1,167,537 1,632,899

Capital Lease Payments Received, Beginning of the Year (1,134,910) (1,051,640)

Capital Lease Payments Received During the Year (352,828) (557,567)

Reduction of Capital Leases for Contracts Fully Paid 488,478 474,297

Capital Lease Amortization (999,260) (1,134,910)

Capital Leases at the End of the Year 168,277 497,989

* Inventories are insured against fire, flood, and earthquake loss.



12- INVENTORIES

Balance of this account includes inventories held by subsidiaries as follows:

14- CAPITAL LEASES

The amount reflected as lease on the balance sheet is comprised of capital leases of Machinery Leasing Co. (subsidiary of the Bank).

13- PREPAYMENTS AND ORDERS

Balance of this account represents orders and prepayments by the subsidiaries are as follows:

w w w . b p i . i r76


Group Bank

20 March

2013

(Restated)19 March

2012

20 March

2013

(Restated)19 March

2012


Pasargad Insurance Co. - - 126,000 126,000

Mabnaye Khavar Miyaneh Co. - - 695,012 616,099

Bank Pasargad E-Payment Co. - - 60,000 60,000

Bank Pasargad Brokerage Co. - - 34,300 24,500

Pasargad Aryan ICT Co. - - 98,980 49,000

Tamin Atiyeh Co. 65 6,316 - -

Pasargad Investment Financial Services Co. - - - 20

Bank Pasargad Machinery and Equipment Leasing Co. - - 28,915 18,115

MIDHCO - - 1,655,398 1,041,117

Pasargad Mass Construction Development Co. - - - 2,500

Pasargad Energy Development Co. 47,200 253,520 - 126,520

Saman Sakht Aryan Co. - - 4,099,400 4,099,400

Pasargad Arzesh Afarinan Co. - - 1,959,905 1,959,905

Modaberane Sakht Aryan Co. - - 1,590,000 1,590,000

Pasargad Leasing Co. - - 335,000 335,000

Hashtom Urban Construction Co. - - - 201,000

Iranian Rahbord Sarmayeh Co. - 98 - -

Pasargad Noandish Technology Development Co. - 2,000 - -

Pasargad International Energy Co. 1,000 1,000 - -

Pasargad Exchange Co. - - 56,000 35,000

Arian Engineering System Construction Management Co. - 98,610 - 18,810

Iranian Reinsurance Co. 221,167 190,489 41,400 41,400

Iran Cultural Heritage & Touring Investment Co. 18,999 20,000 - -

Pey Pisheh Co. 1,850 1,850 - -

Ayande Negar Commercial Co. 2 2 - -

Pasargad Andisheh Negar Trade Development Co. 2 2 - -

Pasargad Tadbirgaran 2 2 - -

Pasargad Group Trade Development Co. 18,480 18,480 - -

Pasargad Pars Heritage Co. 4,270 2,660 - -

Pasargad Technology Innovation Co. - 3,375 - -

Pasargad Research and Management & Human Capital

Development Institute - 12,700 20,400 12,400

Arzesh Pardaz Aryan Investment Consulting Co. - 4,180 - 2,200

Banking Research and Studies Institute 2,200 2,200 - -

Pardis Shakhes Data Processing Co. 16 16 - -

Sepehr Energy Dynamic Development Co. - 9,507 - -

Aryan Pasargad Mutual Fund 30,000 - 30,000 -

Total 345,253 627,007 10,830,710 10,358,986



15- INVESTMENTS IN SUBSIDIARIES AND ASSOCIATES

Long-term investments include the following:

w w w . b p i . i r 77


15-1- Consolidated subsidiaries and affiliates are as follows:

Percentage of Ownership

Country Group Bank Main Activity

Saman Sakht Aryan Co. Iran 99.97 99.90 Civil works

Pasargad Arzesh Afarinan Co. Iran 98.00 98.00 Economical, technical, financial and credit services

Modaberane Sakht Aryan Co. Iran 99.79 45.00 Participation and investment in construction material production companies

Pasargad Leasing Co. Iran 68.47 67.00 Building leasing

Hashtom Urban Construction Co. Iran 83.95 0.00 Civil works

Bank Pasargad E-Payment Co. Iran 66.86 60.00 Electronic banking services

Bank Pasargad Brokerage Co. Iran 62.72 49.00 Stock market brokerage

Pasargad Investment Financial Services Co. Iran 58.78 0.00 Valuation services

Pasargad Aryan ICT Co. Iran 49.00 49.00 IT and communications

Mabnaye Khavar Miyaneh Co. Iran 62.89 43.84 Investment and mining

Pasargad Mass Construction Development Co. Iran 59.71 0.00 Investment in building projects

Bank Pasargad Machinery and Equipment Leasing Co. Iran 70.03 18.00 Industrial machinery leasing

Iranian Modaberan Tejarat Iranian Co. Iran 97.99 0.00 Economical, technical, financial and credit services

Aryan Pasargad Construction Management Co. Iran 68.08 0.00 Civil works

Pasargad Aryan Technical Support Co. Iran 95.06 0.00 Technical support services

Nazm Avaran Shayesteh Co. Iran 97.99 0.00 Economical, technical, financial and credit services

Pasargad Exchange Co. Iran 84.70 70.00 Currency exchange

MIDHCO Iran 49.56 19.68 Investment in companies, civil works, and building factories

Pasargad Poyan Energy Industrial Development Co. Iran 64.48 - Power production projects

Pasargad Taban Energy Industrial Development Co. Iran 55.14 - Consulting advisory in power plant projects

Iranian Rahbord Sarmayeh Co. Iran 61.63 - Investment in construction and trade projects

Pasargad Research and Management & Human Capital Development Institute

Iran 55 40 Technical and educational consultation

Iranian Saman Tejarat Tadbir Co. Iran 99.97 - Production & purchase & sale& import &export trading commodity

Pasargad Insurance Co. Iran 25.22 20 Insurance services

1- Subsidiaries consolidated comprise Datamkish Co., Qeshm Pasargad Aryan Co., Fanavar Kara Danesh Pajohan Co., and Attic Intelligent Technology Development Co., Mandegar Persian Afzar Co., Rashed System Electronic Co., Pasargad Technology Innovation Co., Derik Iranian Development Co., Datis Aryan Qeshm Co.

2- Subsidiaries consolidated include Iranian Mana Industries Renovation and construction Development Co., Middle East Shining Sun Co., Zarand Iranian Steel Co., Sirjan Steel Co., Middle East Industrial standard Engineering Co., Ferosilis Gharb Pars Co., Abyek Mana Construction Development, Karavaran Industry , Pabdana Coal Processing Co, Samangan Transportation Iranian Co, Middle East Shining Sun Brokerage.

3- Although Group’s interest in Pasargad Insurance is less than 50%, due to the parent Co.’s control, the said company is also consolidated; There are no other companies requiring equity method for accounting in investment.



w w w . b p i . i r78


Group Bank

20 March 2013

19 March 2012

20 March 2013

19 March 2012


Investment in Listed Companies 4,354,308 3,101,285 991,666 926,005

Provision for Loss on Value of Investments - (42,307) - (42,307)

Participation and Investment in Properties and

Projects 435,367 334,358 - -

Participation Papers and Deposit Certificates 259,917 338,924 - -

Investment in Non-listed Companies 542,493 626,330 104,643 21,962

Other Participations 19,470 219,395 - -

Total 5,611,555 4,577,985 1,096,309 905,660

16-1- INVESTMENTS BY THE PARENTDirect investment by the Bank in subsidiaries and associate companies as well as investments in shares of listed stocks were as follows:

Note 20 March 2013 (Restated)19 March 2012

m.IRR m.IRR

Direct Investment in Financial Group Companies 15 10,830,710 10,358,986

Other Investments 16 1,096,309 905,660

Total 11,927,019 11,264,646



16- OTHER INVESTMENTS

Other investments by the bank and the group are comprised of the following:

w w w . b p i . i r 79


CO

ST

AC

CU

MU

LA

TED

DEP

REC

IATIO

NB

OO

K V

ALU

E

20

Marc

h

20

13

Addit

ion

s

Fix

ed

A

ssets

S

old

Mo

vem

en

ts &

A

dju

stm

en

ts2

0 M

arc

h

20

13

19

Marc

h

20

12

Dep.

Ch

arg

es

of

the

Year

Acc

. D

ep.

of

Fix

ed

A

ssets

S

old

Oth

er

Adju

stm

en

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9 M

arc

h

20

12

20

Marc

h

20

13

(Rest

ate

d)

19 M

arc

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2012

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

Land

1,2

97,7

08

325,6

51

(8,2

04)

73,4

13

1,6

88,5

68

-

-

-

-

-

1,6

88,5

68

1,2

97,7

09

Build

ings

1,0

28,5

69

243,0

48

(129,3

00)

103,6

89

1,2

46,0

06

200,4

52

82,0

49

(20,2

75)

-

262,2

26

978,8

07

802,5

47

Veh

icle

s 5

2,6

74

15,2

58

(125)

(718)

67,0

89

28,2

94

9,8

73

(76)

(544)

37,5

47

29,5

42

24,4

50

Inve

stm

ents

45,0

97

10,9

03

-

(12,3

79)

43,6

21

40,1

46

3,7

68

-

-

43,9

14

4,6

80

4,9

52

Com

pute

r H

ardw

are

765,5

41

261,7

39

(42)

1,9

00

1,0

29,1

38

490,1

83

135,4

85

-

(991)

624,6

77

404,4

61

291,7

89

Offi

ce F

urn

iture

an

d F

ixtu

res

111,9

56

88,7

79

(2,3

58)

(1,3

75)

197,0

02

106,8

68

46,0

55

(1,2

87)

(4,2

57)

147,3

79

49,6

23

196,1

29

Equip

men

t 1

2,9

12

7,4

47

(2,7

94)

(78)

17,4

87

6,8

63

1,9

85

-

(2,3

59)

6,4

89

10,9

98

4,9

46

Inst

alla

tion

s 3

,300

2,9

42

-

-

6,2

42

1,1

98

384

-

-

1,5

82

4,6

60

1,0

64,2

04

Ass

ets

on

Con

signm

ent

10,0

13

393

-

-

10,4

06

4,3

29

814

-

-

5,1

43

5,2

63

5,6

84

Mac

hin

ery

and

Equip

men

t 1

44,5

43

148,8

16

(11,7

65)

10,3

98

291,9

92

39,2

06

27,2

69

(8,2

23)

(14)

58,2

38

233,7

54

106,3

93

3,4

72,3

13

1,1

04,9

76

(154,5

88)

174,8

50

4,5

97,5

51

917,5

39

307,6

82

(29,8

61)

(8,1

65)

1,1

87,1

95

3,4

10,3

56

3,7

98,8

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Ass

ets

Under

Con

stru

ctio

n a

nd

Prep

aym

ents

9,8

29,5

62

11,9

49,4

48

(1,6

75,2

72)

(929,7

85)

19,1

73,9

53

-

-

-

-

-

19,1

73,9

53

8,8

27,8

45

Tota

l 13,3

01,8

75

13,0

54,4

24

(1,8

29,8

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(754,9

35)

23,7

71,5

04

917,5

39

307,6

82

(29,8

61)

(8,1

65)

1,1

87,1

95

22,5

84,3

09

12,6

26,6

48

Tangib

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xed a

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lly insu

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PLC

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FIN

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0, 2

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17

- TA

NG

IBLE F

IXED

AS

SETS

17-1

- Mov

emen

t of F

ixed

Ass

ets a

nd a

ccum

ulat

ed d

epre

ciat

ion

of th

e Gro

up w

ere a

s fol

low

s:

w w w . b p i . i r80


CO

ST

AC

CU

MU

LA

TED

DEP

REC

IATIO

NB

OO

K V

ALU

E

19

Marc

h

20

12

Addit

ion

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Fix

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Movem

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&

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arc

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19

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20

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Dep.

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of

the Y

ear

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ep.

of

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Sold

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M

arc

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20

13

20

M

arc

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20

13

19

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h

20

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NO

TE

m.I

RR

m.I

RR

m.I

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m.I

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m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

m.I

RR

A-F

ixed

Ass

ets

:

17-2

-1

Land

17-2

-1-1

865,2

10

98,2

17

-

(3,7

50)

950,6

77

-

-

-

-

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950,6

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865,2

10

Leas

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ents

1

7-2

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45,0

97

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(12,3

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43,6

21

40,1

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3,7

68

-

(4,9

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38,9

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4,6

80

4,9

51

Build

ings

17-2

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590,1

76

54,4

05

-

(6)

644,5

75

150,9

56

42,4

65

-

4,9

73

198,3

94

446,1

81

439,2

20

TOTA

L 1

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83

163,5

25

-

(16,1

35)

1,6

38,8

73

191,1

02

46,2

33

-

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237,3

35

1,4

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:

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Com

pute

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17-2

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668,8

11

197,5

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(1,2

79)

865,0

66

468,6

27

110,5

62

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(950)

578,2

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286,8

27

200,1

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icle

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17-2

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18,1

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7,5

71

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(668)

25,0

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7,8

18

4,2

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-

(531)

11,5

07

13,5

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10,2

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Furn

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and F

ixtu

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17-2

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242,5

99

53,2

57

-

(5,3

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290,5

17

91,9

25

37,3

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-

(4,2

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124,9

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165,5

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150,6

74

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258,3

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(7,2

86)

1,1

80,5

94

568,3

70

152,0

98

-

(5,7

24)

714,7

44

465,8

50

361,1

48

Tota

l 2

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01

421,8

87

-

(23,4

21)

2,8

19,4

67

759,4

72

198,3

31

-

(5,7

24)

952,0

79

1,8

67,3

88

1,6

61,5

29

Ass

ets

Under

Con

stru

ctio

n

17-2

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475,0

32

403,9

50

-

(462,0

26)

416,9

56

--

--

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16,9

56

475,0

32

Prop

erty

Acq

uis

itio

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Prep

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17-2

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48

3,2

10,3

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(572,1

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4,3

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Proj

ect

and R

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17-2

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409,9

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202,7

61

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(439,5

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173,2

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--

--

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73,2

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409,9

77

Tota

l 2

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57

3,8

17,1

10

-

(1,4

73,7

26)

4,9

32,6

41

--

--

-4,9

32,6

41

2,5

89,2

57

Gra

nd T

otal

5,0

10,2

58

4,2

38,9

97

-

(1,4

97,1

47)

7,7

52,1

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759,4

72

198,3

31

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(5,7

24)

952,0

79

6,8

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29

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50,7

86

All

fixe

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sset

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e under

full

insu

rance

cov

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- Mov

emen

ts o

f Fix

ed A

sset

s and

pro

visio

n fo

r dep

reci

atio

n of

the

Bank

dur

ing

the

year

wer

e as

follo

ws:

BA

NK

PA

SAR

GA

D (

PLC

.)N

OT

ES T

O C

ON

SOLI

DA

TED

FIN

AN

CIA

L ST

AT

EMEN

TS

FIN

AN

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w w w . b p i . i r 81


17-2-1- Fixed assets are categorized as follows:


m.IRR m.IRR

Land 17-2-1-1 950,677 856,210

Buildings 17-2-1-2 644,575 590,176

Leasehold Improvements 17-2-1-3 43,621 45,097

Total 1,638,873 1,491,483


m.IRR m.IRR

Computer equipment 17-2-1-1 865,066 668,811

Vehicles 17-2-1-2 25,011 18,108

Furniture and Fixtures 17-2-1-3 290,517 242,599

Total 1,180,594 929,518

17-2-1-1- Million IRR 94,467 increase in land relates to acquisition of Estakhr Av.,Yasooj, Apadana and Ahvaz lands.17-2-1-2- MillionIRR 54,399 increase in buildings relates to the Estakhr Av.,Yasooj, Apadana Ahvaz and Ardebil buildings.17-2-1-3- Million IRR 1,476 relate to decrease of Leasehold Improvements in Ahvaz, Jomhori,Shiraz,Mashhad and Sardar Jangal.

17-2-2- Movable Assets are categorized as follows:

17-2-2-1- Million IRR 196,255 increase relates to purchase of Computer Equipments.17-2-2-2- Million IRR 6,903 increase relates to purchase of Vehicles .17-2-2-3- Million IRR 47,918 increase relates to purchase of Desk, Chair, Refrigerator, and other office equipment.

17-2-3- Detail of assets under construction and prepayments are as follows:

Note March 20, 2013 (Restated) 19 March 2012

m.IRR m.IRR

Assets under Construction 17-2-3-1 416,956 475,032

Prepayment for Acquisition of Properties 17-2-3-2 4,342,479 1,704,248

Prepayment for Projects and Reconstructions 17-2-3-3 173,206 409,977

Total 4,932,641 2,589,257

17-2-3-1- Million IRR 58,076 decrease relate to transfer of Bank’s projects in the process of completion to fixed assets account. 17-2-3-2- Million IRR 2,638,231 increase relate to acquisition of new property.17-2-3-3- Million IRR 236,771 relate to payments made to contractors for renovating and constructing of Bank’s projects.



w w w . b p i . i r82


17-3- Ratio of Bank’s assets’ book value to shareholders’ equity is as follows:Bank


m.IRR m.IRR

Assets’ Book Value 6,800,029 4,250,786

Intangible assets 2,014,266 1,535,809

Confiscated Collateral Assets 671,279 232,216

Total 9,485,574 6,018,811

Shareholders’ Equity 48,109,735 38,416,498

Less: Retained Earnings (10,619,029) (6,317,105)

Total 37,490,706 32,099,393

Assets’ Book Value to Shareholders’ Equity Ratio 25.3% 18.8%

Group Bank

20 March 2013 (Restated) 19 March 2012 20 March 2013 (Restated) 19 March 2012


Goodwill Premiums 5,656,935 6,198,607 1,976,014 1,491,028

Computer Software 164,493 29,479 18,077 26,833

License 455,353 155,598 20,175 17,948

Total 6,276,781 6,383,684 2,014,266 1,535,809

Investment

Group Bank

20 March 2013


20 March 2013



Long-term Notes Receivable 464,232 46,312 - -

Deposits on Leased Premises 23,473 35,095 22,443 35,095

Confiscated collateral Assets 1,828,411 1,355,835 1,776,929 1,355,835

Net Properties 1,448,458 1,656,399 - -

Prepaid Lease 9,589 10,416 9,589 10,416

Stamps 6,997 5,174 6,997 5,174

Prepaid Expenses 201,220 212,391 238,497 213,391

Long-term Portion of Employees Loans 66,237 71,511 - -

Net of Software 6,948 7,992 - -

Financial Charges Related to Acquisition of Property 422,975 135,216 - -

Gold Coin Inventory 2,845 5,313 2,845 5,313

Customer’s Long Term Payables 37,197 400,401 - -

Other 680,097 672,358 566,573 662,546

Total 5,198,679 4,614,413 2,623,873 2,287,770



19- OTHER ASSETS

Balance of this account includes:

18- INTANGIBLE ASSETS

Balance of this account includes the following:

w w w . b p i . i r 83


Group Bank

20 March 2013(Restated)

19 March 201220 March 2013



Bank Cheques Issued 8,955,978 4,984,460 8,955,978 4,984,460

Current Account Deposited 8,168,053 3,868,139 8,170,357 3,878,761

Bank Draft 290,586 122,095 290,586 122,095

Unused Managed Funds 1,637 377 1,637 377

Total 17,416,254 8,975,071 17,418,558 8,985,693

Group


m.IRR m.IRR

Balance at the Beginning of the Year 113,257 31,480

Goodwill Acquired During the Year 50,871 85,185

Goodwill Adjustments - (3,408)

Less: Amortization

Accumulated Amortization at the Beginning of the Year (7,324) (2,975)

Amortization for the Current Year (14,250) (4,519)

Amortization Adjustments 170

Accumulated Amortization at the End of the Year (21,574) (7,324)

Balance at the End of the Year 142,554 105,933

Note 2013 2012

m.IRR m.IRR

Term Deposits (Foreign Currencies) 2-1 3,841,673 4,827,471

Inter-bank Balance 162,311 769,173

Deposit with CBI 466,330 500,517

Total 4,470,314 6,097,161

21-1- Foreign exchange term deposits with the central Bank include one month and six month deposits.



21- DUE TO CBI

Amounts due to CBI represent the Bank’s liability as follows:

22- DEMAND DEPOSITS

Balance of this account is as follows:

20- CONSOLIDATION GOODWILL

Goodwill calculated for consolidation had the following changes during the year:

w w w . b p i . i r84


Group Bank

20 March 2013

(Restated)19 March 2012 20 March 2013 2012

Total Total IRR Deposits Foreign Currency Total Total

m.IRR m.IRR m.IRR m.IRR m.IRR m.IRR

Saving Deposits 3,700,360 2,814,029 1,267,090 2,446,797 3,713,887 2,847,463

Total 3,700,360 2,814,029 1,267,090 2,446,797 3,713,887 2,847,463

Group Bank

20 March 2013 (Restated)

19 March 2012 20 March 2013 (Restated)19 March 2012

Note IRR Deposits

Foreign Currency Total Total


Short-term deposits 65,439,236 44,508,190 69,584,503 - 69,584,503 45,031,843

Special short-term deposits 24-1 3,131,734 2,297,287 988,588 2,143,146 3,131,734 2,297,287

Long-Term Investment

Deposits24-2 119,929,407 96,160,141 119,236,954 2,417,113 121,654,067 97,132,418

Total 188,500,377 142,965,618 189,810,045 4,560,259 194,370,304 144,461,548

Group Bank



IRR Deposits Foreign Currency Total Total


One month deposits 13,986 554,963 - 13,986 13,986 554,963

Three month deposits 1,863,489 276,265 599,726 1,263,763 1,863,489 276,265

Four month deposits 300 300 300 - 300 300

Six month deposits 1,142,589 1,390,883 277,623 864,966 1,142,589 1,390,883

Nine month deposits 111,370 74,876 110,939 431 111,370 74,876

Total 3,131,734 2,297,287 988,588 2,143,146 3,131,734 2,297,287

24-1- Short-term deposits are as the follows:



24- TERM DEPOSITS

The balance of this account includes the following:

23- SAVING DEPOSITS

Balance of this account includes:

w w w . b p i . i r 85


Group Bank





One-year deposits 7,007,623 8,022,875 4,942,051 2,413,309 7,355,360 8,212,029

Two-year deposits 219,972 366,078 240,768 3,804 244,572 390,878

Three-year deposits 326,060 473,033 326,060 - 326,060 473,033

Four-year deposits 191,946 314,081 191,946 - 191,946 314,081

Five-year deposits 95,485,976 76,479,234 96,838,299 - 96,838,299 77,237,557

General certificate of deposits

16,697,830 10,504,840 16,697,830 - 16,697,830 10,504,840

Total 119,929,407 96,160,141 119,236,954 2,417,113 121,654,067 97,132,418

Group Bank





Cash Deposits for L/Gs 1,167,542 968,511 2,082,029 98,617 2,180,646 1,696,492

Advances Received on L/Cs 7,777,627 10,128,052 175,237 7,602,390 7,777,627 10,128,052

Other 61,212 239,899 - 61,212 61,212 239,899

Total 9,006,381 11,336,462 2,257,266 7,762,219 10,019,485 12,064,443

24-2- Term deposits are reflected in the following table:

Group

20 March 2013 (Restated)19 March 2012

m.IRR m.IRR

Accounts Payable 1,633,133 1,909,618

Notes Payable 1,378,624 94,533

Total 3,011,757 2,004,151



25- OTHER DEPOSITS

Balance of this account are as follow:

26- ACCOUNTS AND NOTES PAYABLE

Balance of this account is as follow:

w w w . b p i . i r86


Group Bank

20 March 2013


20 March 2013



Participation Papers Issued by Subsidiaries 3,539,172 3,998,668 - -

Other Creditors 3,018,483 607,242 1,202,783 511,357

Temporary Creditors - Individuals 16,723 737,111 16,723 710,630

Issued Checks Held by Individuals 258,413 664,818 186,441 624,195

Insurance Premiums' Provision 2,246,552 1,102,872 - -

Other Accounts Payable 3,113,566 246,523 - -

Special Deposit Card Creditors 506,664 299,633 506,664 299,633

Deferred Damage Provision 393,990 222,874 - -

Good Performance Retention 561,147 263,524 34,831 29,496

Withheld Tax 162,838 76,896 12,372 10,508

Temporary Creditors-Branches' Virtual Card Deposit 7,224 60,470 7,224 60,470

Provision for Payable Expenses 219,295 81,322 - -

Other Technical Reserves 122,472 62,801 - -

Social Security Organization 62,825 32,358 9,583 7,787

Temporary Creditors Subscribers' Bill Payments 9,785 - 9,785 -

Prospective Years' Insurance Premiums 15,201 14,764 - -

Other documents Payable 342,287 159,438 - -

Income on Certificate of Deposit 244,694 85,613 244,694 85,613

Foreign Currency Temporary Creditors 133,687 2,203 133,687 2,203

CBI Participation Papers - Principal and Income 2,626,646 - 2,626,646 -

Exchange Account Creditors - 194,126 - 194,126

Files Under Negotiation - 173,500 - 173,500

Temporary Creditors-Draft documents 8,088,814 - 8,088,814 -

Income Advances Received on Inter-bank Deposit - 80,981 - 80,981

Other Provisions 437 256 - -

Total 25,690,915 9,167,993 13,080,247 2,790,499

Group


m.IRR m.IRR

Facilities Received 6,337,090 2,238,551

Deferred Income (543,331) (448,266)

Deferred Fine 180,270 -

Total 5,974,029 1,790,285



28- FACILITIES RECEIVED

Balance of this account is comprised of received made by subsidiaries as follows:

27- OTHER ACCOUNT PAYABLE AND PROVISIONS

Balance of this account comprises of the following:

w w w . b p i . i r 87


Group


m.IRR m.IRR

Advances Received by Subsidiaries 29 150

Advances Received by Other Companies 690,292 106,082

Total 690,321 106,232

Based on the audited financial statements of subsidiaries, there are no underfunding or other tax issues at these companies.

Group Bank

20 March 2013(Restated)

19 March 2012 20 March 2013(Restated)

19 March 2012


Balance at the Beginning of the Year 3,228,976 381,566 3,120,935 380,003

Tax Provisions till 22/3/2010 77,056 2,862,684 - 2,797,194

Performance Tax During Period 1,068,099 412,739 942,572 323,741

Taxes Paid During the Year (2,032,060) (401,214) (2,020,936) (380,003)

Prepaid Taxes (34,717) (26,799) - -

Total 2,307,354 3,228,976 2,042,571 3,120,935



29- ADVANCES RECEIVED

Balance of this account is comprised of advances received by subsidiaries as follows:

30- CORPORATE TAXES PROVISION


w w w . b p i . i r88


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w w w . b p i . i r 89


32-1- Payments of dividends payable for the Bank in the past six years is as follows:

Bank

Balance 20 March

2013

Period’s On-account

Return

Paid During the Period

Balance 20 March

2012


Short-term Deposits 140,361 3,916,361 3,851,426 205,296

Special Short-term Deposits 33,866 226,594 245,600 14,860

One-year Deposits 156,958 1,060,115 1,136,556 80,517

Two-year Deposits 21,192 54,750 60,947 14,995

Three Year Deposits 26,014 73,690 81,803 17,901

Four-year Deposits 102,693 55,559 135,956 22,296

Five-year Deposits 2,193,261 17,118,564 16,154,248 3,157,577

Certificates of Special Investment Deposit 78,984 2,376,456 2,455,440 -

Total 2,753,329 24,882,089 24,121,976 3,513,442

Group Bank

Note20 March

2013 (Restated) 19 March 2012 20 March

2013 (Restated) 19 March 2012


Dividends Paid 32-1 158,135 161,896 146,035 152,217

Related Subsidiaries - 125,181 -

Total 158,135 287,077 146,035 152,217

Bank

Declared Dividends

DividendsPaid Prior to

20 March 2011Dividend Paid During 2011

Balance at 20 March 2011

DividendsPaid During the

Period

Balance at20 March

2012Fiscal Year March


20-March-06 122,500 118,463 339 3,698 178 3,520

20-March-07 612,500 606,118 319 6,064 396 5,668

19-March-08 1,050,000 1,048,381 79 1,540 65 1,475

19-March-09 1,540,000 1,515,552 3,762 20,686 3,089 17,597

20-March-10 2,310,000 2,309,973 27 - -

20-March-11 4,158,000 - 4,037,771 120,229 31,781 88,448

19-March-12 6,269,340 - - - 6,240,013 29,327

Total 16,062,340 5,598,487 4,042,297 152,217 6,275,522 146,035



31- RETURN ON DEPOSITS PAYABLE

The balance of this account includes the following:

32- DIVIDENDS PAYABLE

Balance of this account is comprised of dividends declared but not yet paid as follows:

w w w . b p i . i r90


Group Bank

20 March 2013 (Restated)19 March 2012 20 March 2013 (Restated)

19 March 2012


Opening Balance 167,716 107,401 118,660 75,299

Paid During the Year (9,929) (7,891) (5,472) (1,646)

Provision Accrued During the Year 100,325 68,206 65,860 45,007

Balance at the End of the Year 258,112 167,716 179,048 118,660

Date of Increase in

Shareholders’ Equity

Increase in Capital

(Percentage)

IRR Amount of Increase in Capital

New Shareholder’s Equity Amount Source of Contribution

m.IRR m.IRR

23/10/2007 50 1,750,000 5,250,000 Receivables from shareholders and cash contributions


09/11/2009 10 700,000 7,700,000 Receivables from shareholders

21/11/2010 200 15,400,000 23,100,000 Cash contributions





34- SHARE CAPITAL

34-1- The bank started with m.IRR 3,500,000 (3,500,000,000 shares at IRR 1,000 per share) of capital initially, and increased it to m.IRR 30,000,000 (30,000,000 shares at IRR 1,000 per share) in six steps by March 19, 2013 as follows:

33- PROVISION FOR EMPLOYEES RETIREMENT BENEFITS

Changes of account during the period were as follows:

w w w . b p i . i r 91


34-2- Major shareholders and their respective shares at balance sheet date were as follows:


No. of shares Percentage No. of shares Percentage

Pars Aryan Investment Company 4,309,242,690 14.36 4,310,680,770 15.81

Kharazmi Investment Company 1,316,591,759 4.39 1,389,605,357 5.1

Hamyarye Kowsar 1,172,161,868 3.91 1,065,865,367 3.91

Saman Majd Investment Company 1,497,881,862 4.99 1,360,975,463 4.99

Milad Gostar Noavaran Co. 1,108,561,097 3.70 1,007,238,616 3.7

Sahab Omid Iranian Co. 688,770,388 2.30 625,816,776 2.3

Banks Pension Fund 1,024,767,925 3.42 725,423,217 2.66

Refah and Tamin Atiye Omid Institute 599,130,529 2.00 544,370,000 2

Pasargad Financial Group’s Workers Future Financial Security Investment Co. 1,477,986,086 4.93 953,319,046

3.5

Sam Group Company 1,126,073,702 3.75 1,023,150,568 3.75

Binesh Pazhooh Iranian Co. 776,379,140 2.59 705,418,088 2.59

Mr. Mohammad Hadi NikLaal Fard 762,465,439 2.54 415,741,764 1.53

Hamghadam Co. 673,926,291 2.25 612,329,430 2.25

Ms. Setareh Mansoobi 487,563,021 1.63 415,741,764 1.53

Ms. Effat Arzani 306,117,904 1.02 259,911,663 0.95

Other Shareholders (below one percent) 12,672,380,299 42.24 11,842,412,111 43.45

Total 30,000,000 ,000 100.00 27,258,000,000 100

Number of Shareholders:

19 March 2013 19 March 2012

Individuals 47,933 46,864

Corporate entities 301 295

Total 48,234 47,159



w w w . b p i . i r92


34-3- 16,883,500 shares of the Bank have been allocated to Khatam University.

34-4- Bank’s capital adequacy ratio, which is calculated by dividing the basic capital to risk-weighted assets, must be at least 8% in accordance to CBI rules. The Bank’s adequacy ratio is as follows:

Note 2012/2013 2011/2012

m.IRR m.IRR

Paid-up Capital 34 30,000,000 27,258,000

Statutory Reserve-balance Sheet 35 5,618,030 3,631,045

Other Reserves 36 1,872,676 1,210,348

Retained Earnings 10,619,029 6,317,105

Total Shareholders’ Equity 48,109,735 38,416,498

General Provision for Doubtful Debts and Investments 5,150,947 3,212,612

Less: Amounts in Excess of 1.25 Percent of Risk Weighted Assets (2,301,833) (1,016,982)

Total Capital Adequacy 2,849,114 2,195,630

Investments in Other Banks or Credit Institutions (96,031)

Basic Capital 50,862,818 40,612,128

Total Risk-weighted Assets 34-4-1 227,929,100 175,650,435

1.25% of Risk-weighted Assets 2,849,114 2,195,630

Capital Adequacy Ratio 22.32% 23.12%

Note2013 2012

Assets Risk Co-efficient

Weighted assets Assets Risk

Co-efficientWeighted

assets

m.IRR % m.IRR m.IRR % m.IRR

Cash 5 758,098 0 - 1,111,280 0 -

Due from CBI 6 28,544,993 0 - 20,851,525 0 -

Due from Other Banks and Financial Institutions

7 51,487,727 20 10,297,545 35,654,974 20 7,130,995

Participation Papers 8 11,864,471 0 - 5,825,718 0 -

Investments 15, 16 11,927,019 100 11,927,019 11,264,646 100 11,264,646

Other Accounts Receivable 13 6,253,924 100 6,253,924 1,699,059 100 1,699,059

Loans and Facilities 9 32,353,553 50 16,176,777 30,574,985 50 15,287,493

Other Loans 9 142,435,673 100 142,435,673 106,751,894 100 106,751,894

Net Tangible and Intangible Assets 17, 18 8,814,295 100 8,814,295 5,786,595 100 5,786,595

Other Assets 19 2,623,873 100 2,623,873 2,287,770 100 2,287,770

Commitments for Contracts 55-3 12,376,594 50 6,188,297 1,120,859 50 560,430

Commitments for L/Gs 55-2 26,035,920 20 5,207,184 23,343,500 20 4,668,700

Commitments for L/Cs 55-1 36,009,027 50 18,004,514 40,425,705 50 20,212,853

Total Assets Weighted Based on Their Risk 371,485,167 227,929,100 286,698,510 175,650,435

34-4-1- Risk-weighted assets are as follows:



w w w . b p i . i r 93


Bank


m.IRR m.IRR

Opening Balance 3,631,045 2,155,633

Reserves Allocated from Net Profit 1,986,985 1,475,412

Balance at the End of the Year 5,618,030 3,631,045

Bank


m.IRR m.IRR

Opening Balance 1,210,348 718,544

Reserve Added During the Period 36-1 662,328 491,804

Balance at the End of the Year 1,872,676 1,210,348

Group


m.IRR m.IRR

Share in Capital 5,021,807 2,926,398

Share in Reserves 130,036 84,778

Share in Retained Earnings 434,953 615,754

Unrealised loss (3,056) (1,499)

Assets’ Fair Market Value and Book Value Differences (for Subsidiaries) 5,870 6,263

Total 5,589,610 3,631,694



35- STATUTORY RESERVE

In accordance with Article 63, paragraph B of the Bank’s articles of association and relevant regulations, 15% of the Bank’s net profit, not exceeding the Bank’s capital, is allocated to statutory reserves. For subsidiaries, according to amendment to articles 140 and 238 to the commercial code dated 1968, 5% of the subsidiary’s net profit, up to 10% of shareholders’ equity, must be allocated to the statutory reserve; allocation in excess of 10% is at subsidiaries’ discretion. Statutory reserve is not transferable to capital, and at dissolution is not allocable to shareholders.

37-MINORITY INTEREST

Minority interest in subsidiaries is calculated as follows:

36-DISCRETIONARY RESERVE

In accordance with Article 63 of the Bank’s articles of association, 5% of the year’s net profit is allocated to discretionary reserves. Discretionary reserve belongs entirely to the parent company.

w w w . b p i . i r94


Income From

Group Bank

2013 (Restated) 2012 2013 (Restated) 2012


Musharaka 23,633,810 16,560,855 25,576,872 17,752,989

Installment sales 79,314 104,315 43,268 85,137

Mudaraba 5,099,697 4,389,630 5,099,737 4,409,652

Ju’alah 183,408 160,619 336,536 446,400

Financial Leases 8,846 15,170 499 4,690

Late Payment Charges 994,330 1,383,784 1,005,024 1,438,467

Murabahah 1,524 - 1,524 -

Total 30,000,929 22,614,373 32,063,460 24,137,335

Group Bank



Income from Sales of Investments 1,645,549 910,456 1,285,532 717,364

Gain (Loss) on Change in Value of Securities 43,125 111,176 42,306 -

Income from Deposits with Iranian Banks 3,628,579 3,052,860 3,622,738 3,055,697

Income from Participation Papers 2,177,938 1,320,303 2,142,369 1,314,946

Other 12,372 691 - -

7,507,563 5,395,486 7,092,945 5,088,007

Income from Group’s Deposits Foregin Currency 31,721 62,054 31,721 61,245

Total 7,539,284 5,457,540 7,124,666 5,149,252



38- INCOME FROM CREDIT FACILITIES GRANTED

Income from credit facilities includes the following:

39- INCOME ON INVESTMENTS AND DEPOSITS

Income on investments during the period is reflected in the following:

w w w . b p i . i r 95


Group Bank



Fees and Commissions for Issuance of L/Cs 3,281,616 1,051,782 3,281,616 1,051,782

Fees and Commissions for Issuance of L/Gs 469,828 405,003 472,638 406,461

Fees and Commissions - Facilities 253,636 515,513 253,636 517,492

Fees and Commissions for Issuance of Credit Cards 302,987 332,809 166,631 233,369

Fees for Electronic Banking Services 553,665 68,271 553,665 68,271

Fees for Foreign Exchange Transactions 60,842 24,068 60,842 24,068

Other Commissions and Fees 53,201 30,222 54,627 33,203

Fees for Share Transactions - 1,140 - 1,140

Total 4,975,775 2,428,808 4,843,655 2,335,786

Group

2013 (Restated) 2012

m.IRR m.IRR

Sale of Foreign Currencies 2,885,660 7,866,117

Income from Installment Sales and Capital Leases 667,644 582,716

Sale of Computer Hardware and Software 1,603,355 594,095

Sale of Properties 849,140 475,326

Sale of Petrochemical, Oil and Steel Raw Materials and Products - 102

Sale of Cards and Technical Support 5,412 10,860

Income from Services 4,020,333 2,112,754

Income from Participation Papers 70 694

Total 10,031,614 11,642,664

Bank


m.IRR m.IRR

Gain on Foreign Exchange Translation 8,572 517,184



41- COMMISSION INCOME

Commissions are reflected in the following:

42- FOREIGN EXCHANGE TRANSACTIONS - NET GAIN

Net result of foreign exchange transactions during the period is reflected in Bank’s income and is as follows:

40- SALES AND SERVICES REVENUE

Balance of this account consists of sale of goods and rendering of services by subsidiaries.

w w w . b p i . i r96


Group Bank



Gain on Sales of Fixed Assets 20,751 - 10,811 -

Income from Collateral Assessment 2,238 2,883 3,360 4,027

Income from Collateral Insurance 13,234 11,970 13,234 12,030

Income from Review of Credit Applications 360,208 209,017 364,256 211,390

Income from Sales Growth Commission 208,020 2,219 - -

Income from Brokerage Services - 60,972 - -

Participation in Insurer's Income 13,562 11,957 - -

Rental Income 2,483 2,165 - -

Miscellaneous 212,873 96,771 11,042 3,944

Total 833,369 397,954 402,703 231,391

Group Bank



Short-term Deposits 3,808,004 2,536,807 3,916,361 2,641,151

Special Short-term Deposits 226,594 219,982 226,594 219,982

One-year Deposits 1,050,412 1,582,794 1,060,115 1,588,969

Two-year Deposits 54,750 71,581 54,750 71,581

Three-year Deposits 73,690 89,661 73,690 89,661

Four-year Deposits 55,559 64,433 55,559 64,433

Five-year Deposits 16,908,921 13,902,992 17,118,564 14,031,092

Certificate of Deposits 2,376,386 371,462 2,376,456 371,462

Total 24,554,316 18,839,712 24,882,089 19,078,331



43- OTHER INCOME


44- DEPOSITOR’S PROVISIONAL SHARE OF INCOME

w w w . b p i . i r 97



m.IRR m.IRR

Facilities Granted 156,412,916 119,070,755

Investments & Deposits with other Banks 28,799,758 29,932,462

Participation Papers 10,794,063 8,040,026

196,006,737 157,043,243

Less: Net Resources of Depositors:

Total Deposits 163,870,078 135,486,790

Statutory Deposit (19,323,640) (16,579,093)

Net Resources of Depositors 144,546,438 118,907,697

Bank’s Resources 51,460,299 38,135,546

Total Joint Income 38,948,085 29,225,342

Depositors Share of Income and Bonus on Statutory Deposits 28,915,735 22,296,561

Bank’s Fees (4,096,752) (3,387,170)

Income Payable to Depositors 24,818,983 18,909,391

Payments On-account to Depositors from Joint Income (24,882,089) (19,078,331)

Under (over) Payment to Depositors 63,106 168,940

Group


m.IRR m.IRR

Cost of Services Rendered 3,351,177 1,829,625

Cost of Foreign Currencies Sold 2,734,876 7,769,733

Cost of Computer Hardware and Software 1,449,459 595,021

Cost of Installment Sales and Capital Leases 408,353 72,009

Cost of Properties and Assets Sold 673,488 438,017

Other Costs - 2,901

Total 8,617,353 10,707,306



46- COST OF GOODS AND SERVICES SOLD

Balance of this account includes cost of goods sold and services rendered by the subsidiaries.

45- UNDER (OVER) ON-ACCOUNT PAYMENT TO DEPOSITORS

Depositors share of income, derived from joint resources with the Bank, is calculated on the basis of directives of CBI. Granted facilities, investments, participation papers, investment deposits and statutory deposits have been calculated based on the average of the year’s 52 weeks.

w w w . b p i . i r98


Group Bank



Salaries 528,806 405,215 366,480 304,335

Bonuses 287,616 221,662 244,572 192,806

Commuting Allowance 94,353 73,763 92,111 71,960

Over-time 128,720 104,665 116,952 96,521

Social Security and Insurance 125,678 97,084 101,862 81,959

Termination Allowance 81,519 56,738 65,861 45,006

Mission Assignments Allowance 20,202 15,546 17,767 13,406

Other 354,568 202,115 325,492 176,361

Total 1,621,462 1,176,788 1,331,097 982,354

Group Bank



Depreciation 246,167 236,453 214,654 212,824

Advertisement 186,675 143,811 170,748 128,262

Rent 89,713 70,976 86,184 75,172

Pantry and Entertainment 54,754 19,606 42,734 12,660

Tele-communications 48,111 35,344 41,871 30,746

Consulting 23,643 31,717 30,364 27,753

Repair and maintenance of buildings 48,447 41,072 46,035 39,934

Office Supplies 83,548 54,239 62,957 43,832

Insurance 69,300 17,364 68,057 115,847

Other Expenses 347,325 288,053 636,695 485,374

Total 1,197,683 938,635 1,400,299 1,172,404



47- PERSONNEL EXPENSES

Balance of this account is comprised of the following:

48- GENERAL AND ADMINISTRATIVE EXPENSES

General & Administrative expenses during the year include the following:

w w w . b p i . i r 99


Group Bank

Note 2013 (Restated) 2012 2013 (Restated) 2012


General Provision for Doubtful Debts 49-1 1,780,249 774,445 1,938,333 774,445

Special Provision for Doubtful Debts 49-2 (90,702) 6,387 (90,702) 1,499

Total 1,689,547 780,832 1,847,631 775,944

49-1- General provision for Doubtful Debts for year ended 20 March 2013 was calculated as follows:

20 March 2013

m.IRR

Balance of Facilities Granted at March 20, 2013 183,076,898

Less: Balance of Facilities for which Special Provision is Provided (10,524,360)

Applicable Balance Used for Calculation of General Provision 172,552,538

General Expense for Doubtful Debts 1,938,333

20 March 2013

Past due Deferred Doubtful Total


Balance on 20 March, 2013 (End of Period) 2,207,606 4,549,011 3,767,743 10,524,360

Less :

Special Provision for Facilities, Taking into Consideration, Collaterals and the Calculation Basis Coefficient at End Period

(141,663) (546,516) (1,104,069) (1,792,248)

Special Provision for Facilities (Beginning of the Period) 153,314 497,646 1,231,990 1,882,950

Provision for Doubtful Debts (11,651) 48,870 (127,921) (90,702)

49-2- Special provision for Doubtful Debts was calculated as follow in accordance with note 4-14:



49- DOUBTFUL DEBTS EXPENSE

Doubtful Debts expense Were calculated as follows:

w w w . b p i . i r100


Group Bank



Return Paid Foreign Exchange Deposits 265,996 153,251 265,996 153,251

Fees Paid "Inter-bank Information Transfer Network"

499,760 23,142 499,760 23,142

Banking Services fees 56,284 13,769 13,035 10,683

Fees Paid to Brokers 14,009 13,344 14,009 15,019

Finance Cost of Facilities Received from Other Banks

337,564 322,156 - -

Fees for Review of Applications 315 1,521 - -

Allocated to Qualified Projects (112,850) (84,830) - -

Total 1,061,078 442,353 792,800 202,095

Group


m.IRR m.IRR

Net Non-operating Income (Expense) 1,045,397 238,969

Net Operating Income (Expense) (150,161) (38,958)

Insurance Premiums Technical Reserve (917,430) (418,134)

Total (22,194) (218,123)



51- NET OTHER INCOME (EXPENSE)

Net Other Income (Expenses) are related to subsidiaries as Following:

50- FEES AND FINANCE COSTS

Balance of this account is consolidated statement of profit and loss is comprised of the following:

w w w . b p i . i r 101


Group


m.IRR m.IRR

Profit before tax 14,625,910 9,954,774

Depreciation 383,447 243,161

Gain Reversed Impairment of Investments and Ventures (43,125) 3,458

Doubtful Debts Expenses 1,689,547 775,943

Dividends (Loss) (193,400) (19,356)

Gain/Loss on Sale of Investments (1,645,545) (13,210)

Gain/Loss on Sale of Fixed Assets (20,751) 29

Net (gain/loss) from currency exchange transactions (8,572) (517,183)

Increase in Provision for Termination of Employment 90,396 60,229

251,997 533,071

Net Increase (Decrease) in Operational liabilities

Due to Central Bank of Iran (1,626,847) 3,138,218

Demand Deposits 8,441,183 (578,159)

Saving Deposits 886,331 1,208,107

Term Deposits 45,534,759 20,945,654

Other deposits (2,330,081) 7,234,354

Provisions and other liabilities 16,525,921 707,048

Operational Advances Received 584,089 34,543

Operational Accounts Payable 1,007,606 (1,535,925)

Return Payable to Depositors 759,904 154,864

69,782,865 31,308,704

Net (Increase) Decrease in Operational assets

Due from Central Bank of Iran and Statuary Reserve (7,693,468) (4,756,897)

Due from Other Banks (5,225,353) 2,615,333

Facilities Granted to non-public sector (37,066,845) (28,823,530)

Participation Paper (6,038,753) 2,519,600

Other Assets (990,662) 15,494,313

Accounts Receivable (849,601) (4,226,003)

Prepayments and Orders (618,713) (46,836)

Capital Lease Income 329,712 130,384

Inventories (1,067,378) (406,102)

Other Accounts Receivable (4,589,786) (1,488,048)

(63,810,847) (18,987,786)

Net Cash Inflow (outflow) from Operating Activities 20,849,925 22,808,763



52- RECONCILIATION OF PROFIT BEFORE TAX WITH CASH-FLOW FROM OPERATING ACTIVITIES-GROUP

w w w . b p i . i r102


Bank


m.IRR m.IRR

Profit before Tax 14,189,140 10,159,820

Depreciation 214,654 212,824

(Gain) Loss reversed impairment of investments (42,306) (5,153)

Doubtful Debts Expenses 1,847,631 775,943

Dividend Received on Investments (1,220,060) (715,622)

(Gain) Loss on Sale of investments (65,472) 3,412

Net (Gain) from Currency Exchange Transactions (8,572) (517,183)

Employee Retirement Benefits 60,388 45,006

Net Cash Inflow from Operation 786,263 (200,773)

Net Increase (Decrease) in Operating Liabilities:

Amounts due to Central Bank of Iran (1,626,847) 3,138,218

Demand Deposits 8,432,865 (578,159)

Saving Deposits 866,424 1,208,107

Term Deposits 49,908,756 20,945,799

Other Deposits (2,044,958) 7,234,354

Provisions and Other Liabilities 10,289,748 546,645

Return Payable to Depositors 760,113 154,864

66,586,101 32,649,828

Net (Increase) Decrease in Operating Assets:

Statutory Deposit and Other Due from CBI (7,963,468) (4,756,897)

Amounts due from Other Banks and Financial Institutions (5,225,353) 2,615,333

Facilities Granted and Other Amounts due from Non-Public Sector

(39,309,978) (28,509,108)

Participation Papers (6,038,753) 2,519,600

Other Assets (742,499) (1,654,836)

Other Accounts Receivable (4,024,825) 162,059

Net Increase in Operating Assets (63,034,876) (29,623,849)

Net Cash Inflow from Operating Activities 18,526,628 12,985,026



53- RECONCILIATION OF PROFIT BEFORE TAX WITH CASH FLOWS FROM OPERATING ACTIVITIES-BANK

w w w . b p i . i r 103


Bank


m.IRR m.IRR

Collateral Acquisition 2,043,145 -

MIDHCO Capital Raise 385,796 -

Pasargad machinery and equipment leasing Capital Raise 10,800 -

Pasargad Bank Brokerage House Capital Raise 9,800 -

Bank Pasargad Capital Raise 2,146,599 3,236,438

Saman Sakht Aryan and Modaberan Sakht Aryan’s Capital Raise - 4,820,000

4,596,140 8,056,438

55-2- Commitments on Letters of Guarantee:

55-3- Other Commitments

Bank


m.IRR m.IRR

Bank Commitments on L/Cs (IRR) 1,186,527 1,021,302

Bank Commitments on L/Cs (Foreign Currencies) 42,600,127 49,532,455

Total 43,786,654 50,553,757

Bank


m.IRR m.IRR

Bank Commitments on L/Gs (IRR) 20,610,315 16,838,224

Bank Commitments on L/Gs (Foreign Currencies) 7,606,251 8,201,768

Total 28,216,566 25,039,992

Bank


m.IRR m.IRR

Commitments on Musharakah and Mudaraba 1,458,918 97,771

Commitments on Credit Cards 812,084 1,023,088

Commitments on Certificate of Deposit 10,105,592 -

Total 12,376,594 1,120,859



54- NON-CASH TRANSACTIONS

Major non-cash transactions during the year were as follows:

55- OFF BALANCE SHEET ITEMS

Off balance sheet items of the bank consist of the following items:

55-1- Commitments on Letters of Credits:

w w w . b p i . i r104


58- POST BALANCE SHEET DATE EVENTS

There has been no major events after balance sheet date requiring adjustments in the accounts or disclosure thereto.

Bank

20 March 2013

m.IRR

Commitment to Pay the Remaining Cost for 28 Branches of Pasargad Bank 691,915

Commitment for Participation in 31% Shares of Iranian Reinsurance Company 18,600

Total 710,515

Group Bank

Note 2013 (Restated) 2012

Net Increase

(Decrease) 2013 Restated

2012

Net Increase

(Decrease)


Cash in Hand 5 1,390,794 1,320,960 69,834 758,098 1,111,280 (353,182)

Demand Deposits with Local Banks * 7-2 1,698,217 2,660,375 (962,158) 1,698,217 2,660,375 (962,158)

Demand Deposits with Foreign Banks*

7-2 25,932,493 14,356,389 11,576,104 25,932,493 14,356,389 11,576,104

Demand Deposits with Local Banks(IRR)

7-1 8,264 14,810 (6,546) 8,264 14,810 (6,546)

Total 29,029,768 18,352,534 10,677,234 28,397,072 18,142,854 10,254,218

* Foreign Currencies

Statutory Requirements:Bank

20 March 2013

m.IRR

Allocation of at Least 10% of Allocable Profit in Accordance with Article 90 of the Commercial Law

1,059,725


55-4 Managed funds commitments were as follows: Bank


m.IRR m.IRR

Managed Funds-unused portion 745 744

Total 745 744


57- CONTINGENT LIABILITIES AND CAPITAL COMMITMENTS

The Bank has the following capital commitments at balance sheet date:

59- RETAINED EARNINGS-YEAR-END

Allocation of retained earnings, ending balance available for distribution, would be made at year-end upon decisions of the shareholder’s Annual General Meeting.

56- NET INCREASE (DECREASE) IN CASH

Net increase in cash reflected in the statement of cash flows was as follows:

w w w . b p i . i r 105


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23.6

2)

(334,6

87,2

24.2

9)

252,8

65.2

4

(195,9

69,3

62.9

8)

4,2

35,3

57,4

44.3

2

(795,2

56.8

7)

588,7

85.0

4

211,1

74,7

97.4

5

1,5

28,0

58,6

77.7

8

(119,7

07,9

41,7

92.4

2)

(887,6

38,4

13.0

8)

21,7

10,8

27,7

03.9

2

L/Cs

Com

mitm

ents

55-1

-1,2

42,6

10,8

59.9

1

492,9

89.0

2

1,1

75,2

35,2

40.2

2

681,7

52,1

88.7

5

3,9

76,9

50.0

0

-15,6

81,5

78.0

3

6,8

98,1

67,4

36.6

6

314,3

12,2

15,7

43.8

2

924,1

29,8

70.3

5

1,9

82,0

83,7

55.3

8

L/G

s Com

mitm

ents

55-2

9,6

57,4

77.6

1

427,8

29,9

14.3

4

-4,2

35,2

23.5

0

680,0

79,7

50.0

0

--

-306,4

63,5

61.0

0

1,3

05,1

97,7

00.0

0

--

Oth

er C

ust

omer

Com

mitm

ents

55-3

-572,8

66,1

96.6

2

-579,1

00,1

74.3

2

847,0

74,3

61.0

0

--

32,3

72,6

10.1

4

129,2

42,1

61.9

4

249,5

70,5

42,9

11.9

3

1,7

78,3

37,4

96.8

0

445,3

60,2

83.4

6

BA

NK

PA

SAR

GA

D (

PLC

.)N

OT

ES T

O C

ON

SOLI

DA

TED

FIN

AN

CIA

L ST

AT

EMEN

TS

FOR

TH

E FI

NA

NC

IAL

YEA

R E

ND

ED M

AR

CH

19,

201

2


w w w . b p i . i r106


Related Party Relationship Transaction

AmountSettlement

Period

Collateral

Controlling

Party

Balance

Receivable

(Payable)RateType of

Guarantee

Amount

m.IRRm.IRR

MIDHCO

Shareholder

and Board

Member

Bank Pasargad’s share of

Dividends paid in 20123,100 One year 27.25%

ME Mabna Co. 728,097

Settlement at Debt 3,100 Cheques 659,100

Granting Facilities 906,898 documents 659,100

Settlement of Facilities 824,298

Mabnaye

Khavar

Miyaneh Co.

Shareholder

and Board

Member


Dividends paid in 201178,913 25%

Pasargad Bank 31,939

Granting facilities 531,900 documents 31.9

Settlement of Facilities 900,000 Cheques 47,972

(on account) Payment

for capital raise78,913

Pasargad

Leasing Co.

Shareholder

and Board

Member


Dividends paid in 2011100,500


Granting facilities 870,000 One year24% and 13%

documents 806,611

Settlement of Facilities 1,018,000

Forgiveness of facility

penalties17

Settlement of debt 100,500

Bank Pasargad

Machinery and

Equipment

Leasing Co.

Shareholder

and Board

Member

Dividentes declared 10,800 Cheque 1,040,078

Arzesh Afarinan 707,000

Granting facilities 757,000 documents 434,250

(on account) Payment

for capital raise10,800


BANK PASARGAD (PLC.)NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED MARCH 19, 2012


61 - RELATED PARTY TRANSACTIONS

A) Bank’s transactions with related parties article 129 of the commercial code

w w w . b p i . i r 107



AmountSettlement

Period

Collateral

Controlling

Party

Balance

Receivable


Guarantee

Amount

m.IRRm.IRR

Pasargad

Arzesh Afarinan

Co.

Shareholder

and Board

Member

(for the rest of) Bank

pasargad’s share of

Dividends paid in 2012

205,585

Bank Pasargad

714,120

Granting facilities 610,235 Documents 593,511

Settlement of Facilities 203,400 6 months Cheque 756,085

Forgiveness of facility

penalties191

Pasargad

Aryan ICT Co.

(FANAP)

Shareholder

and Board

Member

Bank pasargad’s share of



prepayment for

computer’s equipment97,128

Granting facilities 704,720 Six Months24% 13%

Cheque 548,362

Settlement of Facilities 728,220 Documents 160,529

Forgiveness of Facility

penalties512

Issued LGs 230,773

Settlement of LGs 57,956

Settlement of

prepayments 18,383

Bills issued and the

settlement of part of

debt from bills

272,510

Pasargad

Insurance Co.



78,561settlement of On-account

payment 50,000

On account settlement 50,000

payment of part of

dividend12,384



w w w . b p i . i r108



AmountSettlement

Period

Collateral

Controlling

Party

Balance

Receivable


Guarantee

Amount

m.IRRm.IRR

Bank Pasargad

E-Payments Co.

Shareholder

and Board

Member


Dividends paid in 20121,980 Cheque 30,000


Granting facilities 22,040


On-account P.O.S 35,500

On-account Settlement 40,794 Documents 30,000

Pasargad

Exchange Co.

Shareholder

and Board

Member



Pasargad Bank 0

Settlement of debt 45,913

Bank Pasargad

Brokerage Co.

Shareholder

and Board

Member



Pasargad Bank 2,173

On-account capital raise 9,800

Settlement of issued

guarantees603,269

Settlement of Facilities 3,708,350

Issued LGs 607,889

Granting facilities 3,651,350

Modaberan

Sakht Aryan Co.

Shareholder

and Board

member

Settlement of Cost

of acquisition and

reconstruction of

properties

42,024 Pasargad

Bank 23,373


Saman Sakht

Aryan Co.

Shareholder

Board

Member

Cost of acquisition

and reconstruction of

properties

76,042 Pasargad

Bank 85,345


Pars Aryan

Investment Co.

Board

Member

Granting facilities 821,641 6 months

21.5%

Documents 327,009Pasargad

Bank 386,569

Settlement of facilities 1,059,924 Cheques 577,776



w w w . b p i . i r 109



AmountSettlement

Period

Collateral

Controlling

Party

Balance

Receivable


Guarantee

Amount

m.IRRm.IRR

Pasargad

Research and

Management &

Human Capital

Development

Institute

Shareholder

and Board

Member

On-account payment 13,000

Pasargad

Bank

3,000

On-account settlement 10,000

Iranian

Reinsurance

Company

Shareholder

and Board

Member


Dividends paid in 2012

7,500 0

7,500

Pasargad Energy

Development Co.Shareholder

supplying Human Capital

164

Pasargad

International

Trade Co.

264

Providing Insurance Services

135

pre-selling of administrative apartments

66,050

Pasargad Financial Group’s Tamin Maskan Co.

Mutual Board Member

exchange of securities 97,585

(68)

selling of shares of company and staff resign

2,401

Selling of future Guarantee

2,469

selling of securities 142

Pars Aryan Investment Co.

Board Member

Current payments for Bokharest property

15,532

(10,728)Armaghan 102


Iranian Reinsurance Company

Shareholder and Board Member


84,347providing of insurance services and dividend

91,771



w w w . b p i . i r110



AmountSettlement

Period

Collateral

Controlling

Party

Balance

Receivable


Guarantee

Amount

m.IRRm.IRR

Tamin Atieh Co.Mutual Board Member

Current payments for Hamila project

62

16,753

Allocation of Qarz ol hasaneh

753

Selling of future gurantee

4,548

Managed funds 6,398

selling of shares 440

dividend received 1,444

pre-selling of Mirdamad administrative apartments

1,000

Providing Insurance services

189

prepayment shares 2,979

Arian

Engineering

System

Construction

Management Co.

Board Member

payments made for construction of Imam Ali project

1,034 Pasargad

leasing13,917

rent & Installment facilities of material

597

Pasargad Pars Heritage Co.

Mutual Board Member

purchasing of administrative equipment

1,169

1,271 providing of insurance services

57

Dargah Zamen

Construction Co.

Mutual Board Member

purchasing of administrative equipment

7,000 (11.6475)

Hasin Qeshm Creative

Mutual Board Member

purchasing of Irancell transaction fee

1,950 -

purchasing of card and software

4,591

(644)

DATX

Shareholder & Mutual Board Member

on-account payment 3,965

(3,965)

ETICK Pars Shareholderselling od pre-paid card

10,479

9,498


Consolidated subsidiaries Transaction with related Party


w w w . b p i . i r 111



AmountSettlement

Period

Collateral

Controlling

Party

Balance

Receivable


Guarantee

Amount

m.IRRm.IRR

Nozhan Sanat Construction


on-account payment 257

257

Qazvin Civil and construction Co.


Participation in Qazvin Booali Project

18,687

(11,014)

B) Other Related Parties Arzeshpardaz Aryan Investment Consulting Co. (AAICCO)

related party

Providing of services 400

200

Mobin Investment Development Company

Mutual Board Member

Selling of shares of MIDHCO

901,480 0

3rd Millennium Hamyaran Co

Close to CEO or related to CEO

Commission payment 5,732 0

