Parsian Expanding Branches

Parsian Bank has finalized plans to launch 137 new branches across the country, said Kourosh Parvizian, the bank’s chief executive, noting that his bank currently has 313 branches. The banker also announced that it has won the Securities and Exchange Organization’s approval for lifting its capital assets to 50 trillion rials ($ 1.5 billion), which is set to be implemented in the next two months, Poolnews reported. Parvizian made the statements during a ceremony marking the 12th anniversary of Parsian Bank on Sunday. Increasing the bank’s capital is in line with plans to help strengthen the lender’s balance sheets in line with international standards. However, the bank’s initiative in launching new branches comes at a time when other lenders are downsizing in response to the growth in e-banking services in recent years.