Parsian Bank (Persian: بانک پارسیان, Bank Parsian) is a major Iranian private bank, headquartered in Tehran, Iran. In addition to traditional banking services, Parsian also offers diversified services such as insurance and car rentals.
Parsian Bank was founded in July 2001,[1] and opened for business in 2002.[2] It entered the Tehran Stock Exchange in 2004[citation needed]. Reuters news agency describes the bank as "Iran's largest non-state bank" in 2006, known for offering slightly higher interest rates on accounts than state-run banks, financing of as much as 80% of a property's value, so that financing was a real option for many new homebuyers, and its liberal dress code.[2] This started to change in 2005, when Parsian's managing director, Abdollah Talebi, refused to give Mohammad Shariatmadari (head of the powerful Setade Ejraiye Farmane Emam foundation at the time), an unsecured $44 million loan (Shariatmadari had offered no collateral for the loan).
In early 2006 the bank faced severe financial difficulties due to a forced interest rate change imposed upon the banking sector by the Iranian President, Mahmoud Ahmadinejad. Until then, the bank's strategy had required providing long term fixed high interest accounts, however when interest rates were slashed the income providing loans that Parsian was receiving ended up at a lower rate than the rates it was paying out in the long term savings accounts, thus creating a cashflow problem. The problems are still unresolved as of October 2006[citation needed].
According to Saeed Laylaz, economic and political observer in Tehran,
"One reason for Ahmadinejad's antagonism to Parsian Bank was that he thought the bank was owned by the family of Ayatollah Hashemi Rafsanjani, his main rival in the presidential elections. After Ahmadinejad took office, Abdollah Talebi [Parsian CEO], an outspoken reformist, sent a list of the shareholders to the President to prove that was untrue. The bank is a symbol of bourgeoisie for Ahmadinejad".[1]
Subsequently, according to Reuters, Tadbir Investment Co, (a subsidiary of Setad) acquired a small stake in Parsian and despite being a minority owner transformed the bank, bringing in new managers and among other things eliminating the lacks dress code.[2]
On 19 September, 1.44 million shares of the bank traded on the Tehran Stock Exchange. The shares, worth a total of about $320 million, were bought by a single customer. The shares – which comprised about 29% of the Bank's total shares – belonged to Iran Khodro Industrial Group (A government company). The bank has still not publicly named the new owners of the stake.
Parsian Insurance, the third largest insurance provider in Iran, is jointly owned by Parsian Bank and Iran Khodro.[4] Its key business line is car insurance.
^ abSanati, Kimia (13 November 2006). "IRAN: Killing the Golden Goose of Private Banking". Inter Press Service News Agency. Retrieved 25 November 2016.
^ abcSteve Stecklow; Babak Dehghanpisheh. "Khamenei's conglomerate thrived as sanctions squeezed Iran. (Assets of the Ayatollah, Part 2)". November 11, 2013. Reuters. Retrieved 21 November 2016.
^(PDF). Archived from the original (PDF) on 14 December 2010. Retrieved 31 October 2010.{{cite web}}: CS1 maint: archived copy as title (link)
^(PDF). Archived from the original (PDF) on 6 March 2012. Retrieved 27 December 2010.{{cite web}}: CS1 maint: archived copy as title (link)
^معرفي اعضاي هيئت مديره ومعاونين 12 August 2007 at the Wayback Machine
External links
Official Website (English Version)
March 29, 2023
parsian, bank, persian, بانک, پارسیان, bank, parsian, major, iranian, private, bank, headquartered, tehran, iran, addition, traditional, banking, services, parsian, also, offers, diversified, services, such, insurance, rentals, parsian, financial, grouptypepub. Parsian Bank Persian بانک پارسیان Bank Parsian is a major Iranian private bank headquartered in Tehran Iran In addition to traditional banking services Parsian also offers diversified services such as insurance and car rentals Parsian Financial GroupTypePublic companyTraded asTSE BPAR1ISIN IRO1BPAR0009IndustryFinancial servicesFounded2002HeadquartersIran TehranArea servedIranKey peopleKourosh Parvizian CEO ProductsCredit cards consumer banking corporate banking investment banking asset managementWebsitewww parsian bank comOne of the Parsian bank branch in the Nishapur The most successful branch of Parsian Bank is the Leasing branch Contents 1 History 2 Chairman and board of directors 3 See also 4 References 5 External linksHistory EditParsian Bank was founded in July 2001 1 and opened for business in 2002 2 It entered the Tehran Stock Exchange in 2004 citation needed Reuters news agency describes the bank as Iran s largest non state bank in 2006 known for offering slightly higher interest rates on accounts than state run banks financing of as much as 80 of a property s value so that financing was a real option for many new homebuyers and its liberal dress code 2 This started to change in 2005 when Parsian s managing director Abdollah Talebi refused to give Mohammad Shariatmadari head of the powerful Setade Ejraiye Farmane Emam foundation at the time an unsecured 44 million loan Shariatmadari had offered no collateral for the loan In early 2006 the bank faced severe financial difficulties due to a forced interest rate change imposed upon the banking sector by the Iranian President Mahmoud Ahmadinejad Until then the bank s strategy had required providing long term fixed high interest accounts however when interest rates were slashed the income providing loans that Parsian was receiving ended up at a lower rate than the rates it was paying out in the long term savings accounts thus creating a cashflow problem The problems are still unresolved as of October 2006 citation needed According to Saeed Laylaz economic and political observer in Tehran One reason for Ahmadinejad s antagonism to Parsian Bank was that he thought the bank was owned by the family of Ayatollah Hashemi Rafsanjani his main rival in the presidential elections After Ahmadinejad took office Abdollah Talebi Parsian CEO an outspoken reformist sent a list of the shareholders to the President to prove that was untrue The bank is a symbol of bourgeoisie for Ahmadinejad 1 Subsequently according to Reuters Tadbir Investment Co a subsidiary of Setad acquired a small stake in Parsian and despite being a minority owner transformed the bank bringing in new managers and among other things eliminating the lacks dress code 2 On 19 September 1 44 million shares of the bank traded on the Tehran Stock Exchange The shares worth a total of about 320 million were bought by a single customer The shares which comprised about 29 of the Bank s total shares belonged to Iran Khodro Industrial Group A government company The bank has still not publicly named the new owners of the stake In September 2010 a 10 stake in Parsian E Commerce the online banking subsidiary of Parsian Bank was successfully sold on the Iranian Over The Counter OTC market The IPO was worth 116 million 3 Parsian Insurance the third largest insurance provider in Iran is jointly owned by Parsian Bank and Iran Khodro 4 Its key business line is car insurance Chairman and board of directors EditKourosh Parvizian CEO 5 See also Edit Banks portalBanking and insurance in Iran Islamic BankingReferences Edit a b Sanati Kimia 13 November 2006 IRAN Killing the Golden Goose of Private Banking Inter Press Service News Agency Retrieved 25 November 2016 a b c Steve Stecklow Babak Dehghanpisheh Khamenei s conglomerate thrived as sanctions squeezed Iran Assets of the Ayatollah Part 2 November 11 2013 Reuters Retrieved 21 November 2016 Archived copy PDF Archived from the original PDF on 14 December 2010 Retrieved 31 October 2010 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link Archived copy PDF Archived from the original PDF on 6 March 2012 Retrieved 27 December 2010 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link معرفي اعضاي هيئت مديره ومعاونين Archived 12 August 2007 at the Wayback MachineExternal links EditOfficial Website English Version Retrieved from https en wikipedia org w index php title Parsian Bank amp oldid 1136430199, wikipedia, wiki, book, books, library,
