Economy, Business And Markets

Pasargad Among Top 500 Int’l Banks

Pasargad Among Top 500 Int’l BanksPasargad Among Top 500 Int’l Banks

Bank Pasargad has been included in the list of top 500 world banks published by The Banker. According to an assessment done of banks’ financial reports for the year 2014, The Banker has listed the Iranian privately owned bank as the 328th bank on the list. The defining method used has been ‘royalty relief’, and it is the first time that the Iranian bank has been included in the assessment. Bank Pasargad is a major Iranian banking establishment offering retail, commercial and investment banking services. The company was established in 2005 as a part of the government’s privatization of the banking system. The bank operates throughout the nation with 3251 employees and 297branches and is listed under the Tehran Stock Exchange. In 2006, The bank had an initial capital assessment of $250 million.