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Annual Report
2012 / 2013
www.bpi.ir
Annual Report
2012 / 2013
54
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Annual Report
2012 / 2013
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55
56
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11,864,471
168,277
345,253
5,611,555
8
9
10
11
12
13
14
15
16
17
18
19
20
Credit Facilities Granted
Accounts and Notes Receivable
Other Accounts Receivable
Inventories
Prepayments and Orders
Lease Receivables
Investments in Subsidiaries and
Associates
Other Investments
Tangible Fixed Assets
Intangible Assets
Other Assets
Consolidated Goodwill
55-1
55-2
55-3
55-4
Commitments for L/Cs
Commitments for L/Gs
Other Commitments
Managed Funds
OFF-BALANCE SHEET ITEMS:
TOTAL ASSETS
51,487,727
7
745
12,810,624
28,821,322
45,032,654
317,288,236
142,554
5,198,679
6,276,781
22,584,309
882,713
4,601,310
8,045,248
5,787,195
164,356,377
28,544,993
6
Due from CBI
Due from other Banks and Credit
Institutions
Participation Papers
m.IRR
744
1,120,859
25,039,992
50,553,757
232,174,764
105,933
4,614,413
6,383,684
12,626,648
4,577,985
627,007
497,989
264,000
3,539,989
1,367,266
4,937,594
128,979,079
5,825,718
35,654,974
20,851,525
1,320,960
m.IRR
1,390,794
(Restated)
19 March 2012
20 March
2013
5
Note
Cash
ASSETS:
BANK PASARGAD (PLC.)
24
Term Deposits
32
Dividends Payable
Provision for Employees Retirement
Benefits
36
Discretionary Reserve
Managed Funds
Other Commitments
TOTAL SHAREHOLDERS’ EQUITY
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY
Unrealized Gain/(Loss)
(Parent)
MINORITY INTEREST
55-4
55-3
55-2
55-1
37
35
Retained Earnings
34
Share Capital
Note
Statutory Reserve
SHAREHOLDERS’ EQUITY:
TOTAL LIABILITIES
31
Return Payable to Deposits
33
30
29
28
27
26
Corporate Tax Payable
Advances Received
Facilities Received
Other Accounts Payable and Provisions
Accounts and Notes Payable
25
23
Saving Deposits
Other Deposits
22
21
Note
Demand Deposits
Due to CBI
LIABILITIES:
745
12,810,624
28,821,322
45,032,654
317,288,236
52,590,694
744
1,120,859
25,039,992
50,553,757
232,174,764
40,480,664
3,631,694
36,848,970
47,001,084
5,589,610
(1,500)
4,751,077
1,210,348
3,631,045
27,258,000
(Restated)
19 March 2012
191,694,100
167,716
287,077
2,753,329
3,228,976
106,232
1,790,285
9,167,993
2,004,151
11,336,462
142,965,618
2,814,029
8,975,071
6,097,161
m.IRR
(Restated)
19 March 2012
(3,001)
9,513,379
1,872,676
5,618,030
30,000,000
20 March 2013
264,697,542
258,112
158,135
3,513,233
2,307,354
690,321
5,974,029
25,690,915
3,011,757
9,006,381
188,500,377
3,700,360
17,416,254
4,470,314
m.IRR
20 March 2013
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT MARCH 20, 2013
Annual Report
2012 / 2013
REPORT OF THE INDEPENDENT AUDITOR
Annual Report
2012 / 2013
CONSOLIDATED STATEMENT OF INCOME FOR FINANCIAL YEAR ENDED MAECH 20, 2013
INCOME:
Note
2013/2012
(Restated) 2012/2011
m.IRR
Incom on Credit Facilities Granted
Incom on Investment and Deposits Sales and Services Income Commission Income Foreign Exchange Transactions - Net Gain
Other Income Total Income Expenses:
Depositor’s Share of Joint Income
Cost of Goods and Services Sold
Personnel Expense
General and Administrative Expense Doubtful Debts Expense
Finance Cost Net Other Income (Expense)
Total Expense
Profit Before Tax
Tax
Net Profit
Minority Interest 38
39
40
41
42
43
44
46
47
48
49
50
51
30,000,929
7,539,284
10,031,614
4,975,775
8,572
833,369
(24,554,316)
(8,617,353)
(1,621,462)
(1,197,683)
(1,689,547)
(1,061,078)
(22,194)
m.IRR
53,389,543
(38,763,633)
14,625,910
(1,068,099)
13,557,811
(1,337,109)
22,614,373
5,457,540
11,642,664
2,428,808
517,184
397,954
43,058,523
(18,839,712)
(10,707,306)
(1,176,788)
(938,635)
(780,832)
(442,353)
(218,123)
(33,103,749)
9,954,774
(412,739)
9,542,035
(501,240)
Earning per Share (Based on Number of Shares Outstanding at Balance Sheet Date) Number of Shares Outstanding at Balance Sheet Date (Million Shares)
407.36 30,000 Earning Per Share-IRR. (Based on Weighted Average Number of Shares
Outstanding During the Year after Tax)
Earning per Share-IRR.
331.67
27,258
428.65
Earning per Share-IRR.
Weighted Average Number of Shares Outstanding During the Year (Million Shares) 28,510
346.66
26,080
Movements of Consolidated Retained Earnings
Net Profit
Retained Earnings at the Beginning of the Year
Prior Periods Adjustments
Retained Earnings Available for Allocation
Less: Profit Allocation Declared Dividends Statutory Reserve
Capital Raise
Total Profit Allocated During the Year
Retained Earnings at the End of the Year Minority Interest in Retained Earnings 13,557,811 8,209,665 (2,842,834) 18,924,642 (6,310,796) (1,986,985) (662,329) (16,200) (8,976,310) 9,948,332 434,953 9,542,035
5,592,128
(3,714,405)
11,419,758
(4,162,831)
(1,398,293)
(491,803)
(6,052,927)
5,366,831
615,754
BANK PASARGAD (P.L.C)
COMPREHENSIVE CONSOLIDATED STATEMENT OF INCOME FOR YEAR ENDED MARCH 20, 2013
Net Profit Unrealized Loss
Comprehensive Prof Prior Periods Adjustments 2013/2012 (Restated) 2012/2011
m.IRR
m.IRR
13,557,811 9,542,035
(3,056) (1,500)
13,554,755 9,540,535
(2,842,834) (3,720,462)
10,711,921 5,820,073
1,306,582 461,807
Total Recognized Comprehensive Profit (from Last Year Report)
Minority Interest
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Annual Report
2012 / 2013
CONSOLIDATED STATEMENT OF CASH FLOW FOR THE FINANCIAL YEAR ENDED MARCH 20, 2013
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
Dividends Paid
Finance Cost
193,400
168,211
(4,241,063)
(224,840)
(337,564)
(868,070)
Net Cash In-flow (Out-flow) from Return on Investments and
Servicing of Finance
(4,385,227)
(924,699)
(1,989,721)
(337,355)
TAXATION: Corporate Taxes Paid
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
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19
Other Assets
6,800,029
12,376,594
745
55-2
55-3
55-4
Other Commitments
Managed Funds
28,216,566
55-1
43,786,654
297,063,626
2,623,873
2,014,266
ITEMS:
OFF-BALANCE SHEET
TOTAL ASSETS
17
18
Tangible Fixed Assets
Intangible Assets
11,927,019
6,253,924
11
15, 16
Credit Facilities Granted
Investments
11,864,471
174,789,226
8
51,487,727
9
7
2,287,770
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744
1,120,859
25,039,992
50,553,757
221,808,446
Provision for Employees Retirement
21
Managed Funds
Other Commitments
EQUITY
TOTAL LIABILITIES AND SHAREHOLDERS’
Retained Earnings
55-4
55-3
55-2
55-1
5,618,030
745
12,376,594
28,216,566
43,786,654
744
1,120,859
25,039,992
50,553,757
221,808,446
38,416,498
48,109,735
297,063,626
6,317,105
1,210,348
3,631,045
27,258,000
(Restated)
19 March 2012
183,391,948
118,660
152,217
2,753,329
3,120,935
2,790,499
12,064,443
144,461,548
2,847,463
8,985,693
6,097,161
m.IRR
(Restated)
19 March 2012
10,619,029
1,872,676
35
36
Statutory Reserve
20 March 2013
248,953,891
179,048
146,035
3,513,442
2,042,571
13,080,247
10,019,485
194,370,304
3,713,887
17,418,558
30,000,000
Note
33
32
31
30
27
25
24
23
22
34
Share Capital
SHAREHOLDERS’ EQUITY:
TOTAL LIABILITIES
Return on Deposits Payable
Dividends Payable
4,250,786
Corporate Tax Provision
1,535,809
11,264,646
Other Accounts Payable and Provisions
Other Deposits
137,326,879
1,699,059
Term Deposits
Saving Deposits
5,825,718
35,654,974
Demand Deposits
Due to CBI
4,470,314
20,851,525
1,111,280
28,544,993
758,098
m.IRR
20 March 2013
m.IRR
Note
m.IRR
LIABILITIES:
(Restated)
19 March 2012
20 March
2013
Institutions
and Credit Financial
Due from Other Banks
5
6
Cash
Note
Due from CBI
ASSETS:
STATEMENT OF FINANCIAL POSITION AT MARCH 20, 2013
Annual Report
2012 / 2013
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Annual Report
2012 / 2013
STATEMENT OF INCOME FOR THE FINANCIAL YEAR ENDED MARCH 20, 2013
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
39,156,405
29,225,342
44
(24,882,089)
(19,078,331)
14,274,316
10,147,011
Gross Joint Income
On-Account Payment to Depositors
Bank’s Share of Joint Income
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
19,560,967
13,292,617
TOTAL INCOME
EXPENSE
47-48
(2,731,396)
(2,154,758)
Doubtful Debts Expense
General and Administrative 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
Net Profit
(942,572)
(323,741)
13,246,568
9,836,079
441.55
360.85
30,000
27,258
464.62
377.15
28,510
26,080
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)
Number of Shares Outstanding at Balance Sheet Date
Earning per Share-IRR. (Based on Weighted Average Number of Shares
Outstanding During the Year)
Weighted Average Number of Shares Outstanding During the Year Million Shares
Movements of Retained Earnings
Net Profit
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)
(662,329)
(491,803)
Capital Raise
Approved Payable Profit
Retained Earnings
60
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(16,200)
(8,944,644)
(6,135,005)
10,619,029
6,317,105
Annual Report
2012 / 2013
STATEMENT OF CASH FLOW FOR THE FINANCIAL YEAR ENDED MARCH 20, 2013
Note
20 March 2013
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:
690,020
513,300
Dividends Paid
Dividends Received
(4,138,713)
(14,315)
Net Cash In-flow (Out-flow) from Return on
Investments and Servicing of Finance
(3,448,693)
498,985
(2,020,936)
(267,887)
(593,044)
(2,086,466)
(2,747,574)
(1,887,256)
(494,780)
(225,947)
444,845
11,905
(3,390,553)
(4,187,764)
9,666,444
9,028,360
579,202
921,562
10,245,646
9,949,922
TAXATION:
Corporate Taxes Paid
INVESTING ACTIVITIES:
Payments for Acquisition of Investments
Payments for Purchase of Fixed Assets
Payments for Acquisition of Intangible Assets
Proceeds from Sale of Investments
Activities
Net Cash In-Flow (out-Flow) Before Financing Activities
FINANCING ACTIVITIES:
Receipts from Subscription of Share Capital
Net Cash In-flow (Out-flow) from Financing Activities
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
4,596,140
8,056,438
Non-Cash Transactions
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Annual Report
2012 / 2013
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL YEAR ENDED MARCH 20, 2013
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:
Group
Headquarters
Bank
2013/2012
2012/2011
2013/2012
2012/2011
Number of
Employees
Number of
Employees
Number of
Employees
Number of
Employees
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
2
2
297
296
Free Zone Branches
Total
62
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Annual Report
2012 / 2013
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
Consolidation Method
Cost method (less provision for permanent
decrease in value of investment)
LONG-TERM INVESTMENTS
Valuation:
Investments in Subsidiaries Eligible
for Consolidation
Long-term Investment in Affiliates
Equity Method
Other Long-Term Investments
Cost Method
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
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
(up to authorization of financial statements)
Other Long- term & Short-term
Investments
Cost Method
(up to the balance sheet date)
Revenue Recognition:
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.
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Annual Report
2012 / 2013
4-3- Recognition of Revenue in the Parent Company
In 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.
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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.
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
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 Commissions
In accordance with banking regulations, income from banking activities and credit facilities granted are recorded
on accrual basis are as follows:
Type of Income
Income from facilities granted
Late payment charges
Basis for Recognition of Income
Based on time period, balance of facilities granted and minimum expected
income
Based 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).
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Annual Report
2012 / 2013
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 prospect
Over-due:
2 to 6 month over-due; customer is in good financial position and industry has limited growth
Bad Debt:
6 to 18 months over-due; customer is not in good financial position and industry faces major limitations
Doubtful 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 category10%
• Bad Debt category20%
• 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 Pay
A 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.
66
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2012 / 2013
5- CASH
Balance of cash includes:
Group
Bank
20 march 2013
(Restated)
19 March 2012
20 March 2013
(Restated)
19 March 2012
m.IRR
m.IRR
m.IRR
m.IRR
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
Note
Cash in Hand
5-1
5-1- Cash is counted at the end of the year. Cash is insured against theft and fire by Pasargad Insurance Co.
6- DUE FROM CBI
Amounts due from CBI includes the following items receivable by the parent company.
Note
20 March 2013
6-1
24,194,922
17,448,585
208,320
169,395
2,689,669
1,781,463
1,452,082
1,452,082
28,544,993
20,851,525
m.IRR
Statutory Deposit
Statutory Deposit Reward
Foreign Currency Demand Deposits with CBI
Other
6-2
Total
m.IRR
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:
20 March 2013
Reserve
Requirement
Ratio %
Short-term Deposits
m.IRR
Reserve
Requirement
Ratio %
m.IRR
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
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.
www.bpi.ir
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Annual Report
2012 / 2013
7- DUE FROM OTHER BANKS AND FINANCIAL INSTITUTIONS
The balance of this account includes the following items, receivable by the parent company.
Note
20 March 2013
(Restated)
19 March 2013
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
5,687,426
2,990,753
51,487,727
35,654,974
Cheque in Clearing House
Total
7-1- Deposits with local banks (IRR)
20 March 2013 - m.IRR
Demand
Deposits
Term
Deposits
19 March 2013 - m.IRR
Demand
Deposits
Total
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
Sepah Bank
Maskan Bank
-
55,120
55,120
-
155,082
155,082
255
983,672
983,927
1,034
435,498
436,532
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
Other
Total
68
www.bpi.ir
-
254,680
254,680
-
-
-
200
6
206
254
747
1,001
8,264
15,885,804
15,894,068
14,810
14,436,820
14,451,630
m.IRR
4
434,253,453
18,632,653
Euro
-
Total
Long-term
Deposits
-
-
52,500,000
52,500,000
830,393
830,393
9,893,817
9,599,105
37,827,668 463,767 505,386,106 10,724,210
-
m.IRR
294,712
EUR
37,827,668 463,767 452,886,106
348
37,827,320 463,763
Long-term
Deposits
with
Foreign
Banks
(Foreign
Currencies)
Term
Deposits:
Total
Demand
Deposits
with Banks
(Foreign
Currencies)
Demand
Deposits
with
Foreign
Banks
(Foreign
Currencies)
Demand
Deposits
with Local
Banks
(Foreign
Currencies)
Demand
Deposits
(Foreign
Currencies):
US Dollar
USD
1,095,961
-
-
1,095,961
1,005,840
90,121
UK Pound
GBP
m.IRR
276,401,538
35,780
4,031,066,091 555,808
Japanese
Yen
12,275
m.IRR
-
-
-
-
-
130,000,000 433,680
130,000,000 433,680
-
-
20,288 4,307,467,629 591,588 279,061,479 930,949 7,097
-
-
92
-
-
92
92
-
588,785
-
-
588,785
588,785
-
1,118
-
-
1,118
1,118
-
m.IRR
SEK
Swiss
Swedish
m.IRR
Franc
Krona
CHF
145,381,865 484,994 7,097
3,679,614
UAE Dirham
AED
20,288 4,307,467,629 591,588 149,061,479 497,269 7,097
18,620
1,668
m.IRR
JPY
608,056
608,056
-
m.IRR
-
m.IRR
615,584,124
South Korean
Won
KRW
6,770
m.IRR
m.IRR
-
-
883,482,865 363,221
Russian
Ruble
RUB
m.IRR
Total
1,698,217
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,275,523
2,275,523
29,906,233
2,275,523
2,275,523
27,630,710
25,932,493
1,698,217
Based on
Exchange
Based on Bank's
Reference
Books (m.IRR)
Rates
(m.IRR)
23,423,706,574 6,653,860 25,932,493
Indian Rupee
INR
2,323,089,046 6,007,599 115,416,999,416 2,530,035 883,482,865 363,221 23,423,706,574 6,653,860 27,630,710
2,323,089,046 6,007,599 114,801,415,292 2,523,265
-
Chinese Yuan
CNY
230,573,303 1,619,506 2,323,089,046 6,007,599 115,416,999,416 2,530,035 883,482,865 363,221 23,423,706,574 6,653,860 29,906,233
150,000,000 1,011,450
150,000,000 1,011,450
80,573,303
80,573,303
-
Turkish Lira
TRY
7-2- Foreign Exchange Deposits, segregated based on type of currency, deposit and bank (local or foreign), were as follows at balance sheet date:
Investments
Total
Annual Report
2012 / 2013
www.bpi.ir
69
Annual Report
2012 / 2013
8- PARTICIPATION PAPERS
The balance of this account includes the following items receivable by the parent company:
20 March 2013
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
11,864,471
5,825,718
Total
20 March 2013
Issue Date
Repayment
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
South Pars Gas Expansion
6/11/2010
CBI
Iranian Offshore Oil Company (IOOC)
8
790,850
10/6/2016
20
992,646
13/10/2012
12/16/2013
20
839,520
7/1/2013
1/7/2017
20
1,200,000
Total
11,864,471
9- CREDIT FACILITIES GRANTED
9-1- Facilities granted were as follows at balance sheet date:
Group
Bank
20 March 2013
(Restated)
19 March 2012
20 March 2013
(Restated)
19 March 2012
m.IRR
m.IRR
m.IRR
m.IRR
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)
164,356,377
128,979,079
174,789,226
137,326,879
Total facilities
Total
70
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Annual Report
2012 / 2013
9-1-1- Balance of bank facilities granted includes the following at balance sheet date:
20 March 2013
Credit Facilities (IRR)
Balance
Deferred
interest
m.IRR
m.IRR
172,057,152
(1,344,478)
19 March 2012
Provision for
bad debt
Net
Balance (Net)
m.IRR
m.IRR
(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
(6,943,194)
174,789,226
137,326,879
Total
183,076,898
(1,344,478)
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
9-1-3- The balance of facilities granted, categorized based on maturity date and rate of return, is as follows:
20 March 2013
Higher than
Over-due Debt
12% and
24%
21-24 %
18-21 %
15-18 %
12-15 %
lower
Total
m.IRR
m.IRR
m.IRR
m.IRR
m.IRR
m.IRR
m.IRR
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
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71
Annual Report
2012 / 2013
9-1-4- The balance of facilities granted by the Bank, categorized based on collateral, is as follows:
20 March 2013
m.IRR
Facilities Granted for Pledged Land and Building
Facilities Granted for Pledged Shares of Stock
Facilities Granted for Pledged Checks
Facilities Granted for Pledged Participation Papers
Total
72
www.bpi.ir
m.IRR
32,353,553
59,354,514
3,405,638
6,620,383
147,261,713
77,722,228
55,994
53,678
183,076,898
143,750,803
5,934,841
143,750,803
Total
-
902,115
107,433,645
503,459
19,914,645
2,966,483
4,708
3,271,763
2,819,144
1,089,490,035
398,143,428
71,321
419,289
558,190,516
2,683,375
106,349,184
12,107,574
1,498
10,721,802
802,048
m.IRR
m.IRR
L/C's
Murabahah
Factoring
Musharakah
Zeman
Mudarabah
Qard Al-Hasanah
Lease arrangements
Ju'alah
Contracts
Installment Sales
Granted
Mach 2012
(1,050,163,941)
(396,006,680)
(14,097)
(1,321,404)
(518,693,668)
(2,667,524)
(105,949,086)
(12,645,209)
(2,350)
(11,790,335)
(1,073,588)
m.IRR
Received
Facilities Principal Amounts
183,076,898
8,071,589
57,224
-
146,930,494
519,309
20,314,744
2,428,848
3,856
2,203,230
2,547,604
m.IRR
March
2013
(1,328,362)
-
-
(33,631)
-
-
-
-
(605)
(444,532)
(849,594)
m.IRR
Mach
2012
(990,714)
-
(10,828)
-
-
-
-
-
-
(762,010)
(217,876)
m.IRR
Granted
974,969
-
1,308
33,631
-
-
-
-
315
885,594
54,121
m.IRR
Received
Income from Facilities
9-1-5- Turn of Facilities Granted:
Turn of facilities granted by the parent (in the framework of Islamic banking contracts) were as follows during the year:
(1,344,478)
-
(9,889)
-
-
-
-
-
(290)
(320,950)
(1,013,349)
m.IRR
March
2013
142,422,441
5,934,841
-
868,484
107,433,645
503,459
19,914,645
2,966,483
4,103
2,827,231
1,969,550
m.IRR
181,732,420
8,071,589
47,335
-
146,930,494
519,309
20,314,744
2,428,848
3,566
1,882,280
1,534,255
m.IRR
March 2013
Balance
Mach 2012
Annual Report
2012 / 2013
www.bpi.ir
73
Annual Report
2012 / 2013
10- ACCOUNTS AND NOTES RECEIVABLE
Balance of this account is the amounts receivable by subsidiaries as follows:
Group
20 March 2013
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
21,943
6,395
Receivable from Others
2,110,786
1,714,495
Total
5,787,195
4,937,594
Dividends Receivable
11- OTHER ACCOUNTS AND NOTES RECEIVABLE
Balance of this account is comprised of the following:
Group
Note
11-1
Notes Receivable
Other Temporary Receivables
Total
Bank
20 March 2013
(Restated)
19 March 2013
20 March 2013
(Restated)
19 March 2013
m.IRR
m.IRR
m.IRR
m.IRR
7,473,113
1,056,318
5,103,936
1,246,580
255,018
219,832
177,942
186,377
317,117
91,116
972,046
266,102
8,045,248
1,367,266
6,253,924
1,699,059
11-1- Balance of other accounts receivable for the bank are as follows:
Bank
20 March 2013
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
74
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Annual Report
2012 / 2013
12- INVENTORIES
Balance of this account includes inventories held by subsidiaries as follows:
Group
Inventory of Properties and Building Projects
Inventory of Goods and Parts
Inventory of Cards
Our Goods on Consignment
Total
20 March 2013
m.IRR
m.IRR
4,150,498
3,261,027
351,586
226,108
9,611
13,142
89,615
39,712
4,601,310
3,539,989
* Inventories are insured against fire, flood, and earthquake loss.
13- PREPAYMENTS AND ORDERS
Balance of this account represents orders and prepayments by the subsidiaries are as follows:
Group
Foreign orders purchase
20 March 2013
m.IRR
m.IRR
72,708
1,051
411,346
79,666
2,386
459
Other prepayment
396,273
182,824
Total
882,713
264,000
Prepayment for purchase of goods and services
Sumptuary prepayment
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).
Group
20 March 2013
m.IRR
Investment in Capital Leases at the Beginning of the Year
Additions During the Year
Reductions During the Year
Net Investment in Capital Leases
Capital Lease Payments Received, Beginning of the Year
Capital Lease Payments Received During the Year
Reduction of Capital Leases for Contracts Fully Paid
Capital Lease Amortization
Capital Leases at the End of the Year
1,632,899
m.IRR
1,680,013
35,487
430,747
(500,849)
(477,861)
1,167,537
1,632,899
(1,134,910)
(1,051,640)
(352,828)
(557,567)
488,478
474,297
(999,260)
(1,134,910)
168,277
497,989
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Annual Report
2012 / 2013
15- INVESTMENTS IN SUBSIDIARIES AND ASSOCIATES
Long-term investments include the following:
Group
Bank
20 March
2013
(Restated)
19 March
2012
2013
(Restated)
19 March
2012
m.IRR
m.IRR
20 March
m.IRR
m.IRR
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
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
Tamin Atiyeh Co.
Pasargad Mass Construction Development Co.
-
-
-
2,500
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
-
-
1,000
1,000
-
-
Pasargad Energy Development Co.
Pasargad International Energy Co.
Pasargad Exchange Co.
-
-
56,000
35,000
Arian Engineering System Construction Management Co.
-
98,610
-
18,810
221,167
190,489
41,400
41,400
18,999
20,000
-
-
1,850
1,850
-
-
Ayande Negar Commercial Co.
2
2
-
-
Pasargad Andisheh Negar Trade Development Co.
2
2
-
-
Iranian Reinsurance Co.
Iran Cultural Heritage & Touring Investment Co.
Pey Pisheh Co.
Pasargad Tadbirgaran
Pasargad Group Trade Development Co.
Pasargad Pars Heritage Co.
Pasargad Technology Innovation Co.
Pasargad Research and Management & Human Capital
Development Institute
Arzesh Pardaz Aryan Investment Consulting Co.
Banking Research and Studies Institute
Pardis Shakhes Data Processing Co.
Sepehr Energy Dynamic Development Co.
Aryan Pasargad Mutual Fund
Total
76
www.bpi.ir
2
2
-
-
18,480
18,480
-
-
4,270
2,660
-
-
-
3,375
-
-
-
12,700
20,400
12,400
-
4,180
-
2,200
2,200
2,200
-
-
16
16
-
-
-
9,507
-
-
30,000
-
30,000
-
345,253
627,007
10,830,710
10,358,986
Annual Report
2012 / 2013
15-1- Consolidated subsidiaries and affiliates are as follows:
Percentage of
Ownership
Country
Group
Bank
Saman Sakht Aryan Co.
Iran
99.97
99.90
Civil works
Main Activity
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
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
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
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
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
Iranian Saman Tejarat Tadbir Co.
Iran
99.97
-
Pasargad Insurance Co.
Iran
25.22
20
Civil works
Valuation services
Technical and educational
consultation
Production & purchase &
sale& import &export trading
commodity
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.
www.bpi.ir
77
Annual Report
2012 / 2013
16- OTHER INVESTMENTS
Other investments by the bank and the group are comprised of the following:
Group
Investment in Listed Companies
Bank
20 March
2013
19 March
2012
20 March
2013
19 March
2012
m.IRR
m.IRR
m.IRR
m.IRR
4,354,308
3,101,285
Provision for Loss on Value of Investments
-
991,666
926,005
(42,307)
-
(42,307)
435,367
334,358
-
-
Participation Papers and Deposit Certificates
259,917
338,924
-
-
Investment in Non-listed Companies
542,493
626,330
104,643
19,470
219,395
-
5,611,555
4,577,985
Participation and Investment in Properties and
Projects
Other Participations
Total
1,096,309
21,962
905,660
16-1- INVESTMENTS BY THE PARENT
Direct 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
11,927,019
11,264,646
Total
78
www.bpi.ir
1,104,976
3,472,313
Machinery and
Equipment
13,301,875
13,054,424
(1,829,860)
(1,675,272)
(154,588)
(11,765)
-
-
(2,794)
(2,358)
(42)
-
(125)
(129,300)
(8,204)
m.IRR
(754,935)
(929,785)
174,850
10,398
-
-
(78)
(1,375)
1,900
(12,379)
(718)
103,689
73,413
m.IRR
Movements &
Adjustments
Tangible fixed assets are fully insured against earthquake, fire, and flood.
Total
11,949,448
148,816
144,543
Assets on
Consignment
9,829,562
393
Assets Under
Construction and
Prepayments
2,942
3,300
10,013
7,447
88,779
261,739
Installations
12,912
Equipment
111,956
Office Furniture
and Fixtures
Investments
765,541
45,097
Vehicles
Computer
Hardware
15,258
10,903
243,048
52,674
Buildings
325,651
1,028,569
1,297,708
m.IRR
m.IRR
Land
Additions
20 March
2013
Fixed
Assets
Sold
COST
23,771,504
19,173,953
4,597,551
291,992
10,406
6,242
17,487
197,002
1,029,138
43,621
67,089
1,246,006
1,688,568
m.IRR
20 March
2013
917,539
-
917,539
39,206
4,329
1,198
6,863
106,868
490,183
40,146
28,294
200,452
-
m.IRR
19 March
2012
307,682
-
307,682
27,269
814
384
1,985
46,055
135,485
3,768
9,873
82,049
-
m.IRR
Dep.
Charges
of the
Year
(29,861)
-
(29,861)
(8,223)
-
-
-
(1,287)
-
-
(76)
(20,275)
-
m.IRR
Acc. Dep.
of Fixed
Assets
Sold
-
-
(8,165)
-
(8,165)
(14)
-
-
(2,359)
(4,257)
(991)
-
(544)
m.IRR
Other
Adjustments
ACCUMULATED DEPRECIATION
17-1- Movement of Fixed Assets and accumulated depreciation of the Group were as follows:
17- TANGIBLE FIXED ASSETS
-
1,187,195
-
1,187,195
58,238
5,143
1,582
6,489
147,379
624,677
43,914
37,547
262,226
m.IRR
19 March
2012
22,584,309
19,173,953
3,410,356
233,754
5,263
4,660
10,998
49,623
404,461
4,680
29,542
978,807
1,688,568
m.IRR
20 March
2013
12,626,648
8,827,845
3,798,803
106,393
5,684
1,064,204
4,946
196,129
291,789
4,952
24,450
802,547
1,297,709
m.IRR
(Restated)
19 March
2012
BOOK VALUE
Annual Report
2012 / 2013
www.bpi.ir
79
80
www.bpi.ir
17-2-1-3
17-2-1-2
Leasehold Improvements
Buildings
17-2-2-1
17-2-2-2
17-2-2-3
Computer Hardware
Vehicles
Furniture and Fixtures
5,010,258
Grand Total
All fixed assets are under full insurance coverage.
2,589,257
409,977
Project and Reconstruction
17-2-3-3
Prepayments
Total
1,704,248
475,032
2,421,001
929,518
242,599
18,108
668,811
1,491,483
590,176
45,097
865,210
m.IRR
17-2-3-2
Property Acquisition
Prepayments
Assets Under Construction 17-2-3-1
Total
Total Movable Assets
17-2-2
B-Movable Assets:
TOTAL
17-2-1-1
17-2-1
Land
A-Fixed Assets:
NOTE
4,238,997
3,817,110
202,761
3,210,399
403,950
421,887
258,362
53,257
7,571
197,534
163,525
54,405
10,903
98,217
m.IRR
19 March
2012
Additions
ACCUMULATED DEPRECIATION
-
-
-
-
-
-
-
-
-
-
-
-
-
-
m.IRR
(1,497,147)
(1,473,726)
(439,532)
(572,168)
(462,026)
(23,421)
(7,286)
(5,339)
(668)
(1,279)
(16,135)
(6)
(12,379)
(3,750)
m.IRR
7,752,108
4,932,641
173,206
4,342,479
416,956
2,819,467
1,180,594
290,517
25,011
865,066
1,638,873
644,575
43,621
950,677
m.IRR
759,472
-
-
-
-
759,472
568,370
91,925
7,818
468,627
191,102
150,956
40,146
-
m.IRR
198,331
-
-
-
-
198,331
152,098
37,316
4,220
110,562
46,233
42,465
3,768
-
m.IRR
-
-
-
-
-
-
-
-
-
-
-
-
-
-
m.IRR
(5,724)
-
-
-
-
(5,724)
(5,724)
(4,243)
(531)
(950)
-
4,973
(4,973)
-
m.IRR
Fixed
Movements
Dep.
Acc. Dep.
Assets
&
20 March 19 March Charges of
of Fixed
Other
Sold
Adjustments
2013
2012
the Year
Assets Sold Adjustments
COST
17-2- Movements of Fixed Assets and provision for depreciation of the Bank during the year were as follows:
952,079
-
-
-
-
952,079
714,744 124,998
11,507
578,239
237,335
198,394
38,941
-
m.IRR
20
March
2013
6,800,029
4,932,641
173,206
4,342,479
416,956
1,867,388
465,850
165,519
13,504
286,827
1,401,538
446,181
4,680
950,677
m.IRR
20
March
2013
4,250,786
2,589,257
409,977
1,704,248
475,032
1,661,529
361,148
150,674
10,290
200,184
1,300,381
439,220
4,951
865,210
m.IRR
19 March
2012
BOOK VALUE
Annual Report
2012 / 2013
Annual Report
2012 / 2013
17-2-1- Fixed assets are categorized as follows:
Note
20 March 2013
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
1,638,873
1,491,483
Total
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:
Note
20 March 2013
m.IRR
m.IRR
Computer equipment
17-2-1-1
Vehicles
17-2-1-2
25,011
18,108
Furniture and Fixtures
17-2-1-3
290,517
242,599
1,180,594
929,518
Total
865,066
668,811
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
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
4,932,641
2,589,257
Total
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.
www.bpi.ir
81
Annual Report
2012 / 2013
17-3- Ratio of Bank’s assets’ book value to shareholders’ equity is as follows:
Bank
20 March 2013
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
9,485,574
6,018,811
48,109,735
38,416,498
(10,619,029)
(6,317,105)
37,490,706
32,099,393
25.3%
18.8%
Total
Shareholders’ Equity
Less: Retained Earnings
Total
Assets’ Book Value to Shareholders’ Equity Ratio
18- INTANGIBLE ASSETS
Balance of this account includes the following:
Group
20 March 2013
Bank
20 March 2013
m.IRR
m.IRR
m.IRR
m.IRR
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
6,276,781
6,383,684
2,014,266
1,535,809
Total
Investment
19- OTHER ASSETS
Balance of this account includes:
Group
Long-term Notes Receivable
Bank
20 March
2013
(Restated)
19 March 2012
20 March
2013
(Restated)
19 March 2012
m.IRR
m.IRR
m.IRR
m.IRR
464,232
46,312
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
Deposits on Leased Premises
Stamps
Prepaid Expenses
Long-term Portion of Employees Loans
Net of Software
Financial Charges Related to Acquisition of Property
Gold Coin Inventory
Customer’s Long Term Payables
Other
Total
82
www.bpi.ir
-
9,589
-
10,416
6,997
5,174
6,997
5,174
201,220
212,391
238,497
213,391
66,237
71,511
-
-
6,948
7,992
-
-
422,975
135,216
2,845
5,313
2,845
-
5,313
37,197
400,401
680,097
672,358
566,573
662,546
-
5,198,679
4,614,413
2,623,873
2,287,770
Annual Report
2012 / 2013
20- CONSOLIDATION GOODWILL
Goodwill calculated for consolidation had the following changes during the year:
Group
20 March 2013
m.IRR
m.IRR
Balance at the Beginning of the Year
Goodwill Acquired During the Year
Goodwill Adjustments
113,257
31,480
50,871
85,185
-
(3,408)
(7,324)
(2,975)
(14,250)
(4,519)
Less: Amortization
Accumulated Amortization at the Beginning of the Year
Amortization for the Current Year
Amortization Adjustments
170
Accumulated Amortization at the End of the Year
Balance at the End of the Year
(21,574)
(7,324)
142,554
105,933
21- DUE TO CBI
Amounts due to CBI represent the Bank’s liability as follows:
Note
2013
2012
m.IRR
m.IRR
3,841,673
4,827,471
Inter-bank Balance
162,311
769,173
Deposit with CBI
466,330
500,517
4,470,314
6,097,161
Term Deposits (Foreign Currencies)
2-1
Total
21-1- Foreign exchange term deposits with the central Bank include one month and six month deposits.
22- DEMAND DEPOSITS
Balance of this account is as follows:
Group
20 March 2013
Bank
(Restated)
19 March 2012
20 March 2013
(Restated)
19 March 2012
m.IRR
m.IRR
m.IRR
m.IRR
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
290,586
122,095
290,586
122,095
Bank Draft
Unused Managed Funds
Total
1,637
377
1,637
377
17,416,254
8,975,071
17,418,558
8,985,693
www.bpi.ir
83
Annual Report
2012 / 2013
23- SAVING DEPOSITS
Balance of this account includes:
Group
Bank
20 March
2013
(Restated)
19 March 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
20 March 2013
2012
24- TERM DEPOSITS
The balance of this account includes the following:
Group
Bank
20 March
(Restated)
2013
19 March 2012
Note
m.IRR
Special short-term deposits
Long-Term Investment
Deposits
Foreign
Currency
m.IRR
m.IRR
44,508,190
69,584,503
-
24-1
3,131,734
2,297,287
988,588
24-2
119,929,407
96,160,141
188,500,377
142,965,618
Total
m.IRR
IRR
Deposits
65,439,236
Short-term deposits
(Restated)
19 March 2012
20 March 2013
Total
m.IRR
Total
m.IRR
69,584,503
45,031,843
2,143,146
3,131,734
2,297,287
119,236,954
2,417,113
121,654,067
97,132,418
189,810,045
4,560,259
194,370,304
144,461,548
24-1- Short-term deposits are as the follows:
Group
One month deposits
Three month deposits
Four month deposits
Six month deposits
Nine month deposits
Total
84
www.bpi.ir
Bank
20 March
2013
(Restated)
19 March 2012
(Restated)
19 March 2012
IRR Deposits
Foreign
Currency
Total
Total
m.IRR
m.IRR
m.IRR
m.IRR
m.IRR
m.IRR
20 March 2013
13,986
554,963
-
13,986
13,986
554,963
1,863,489
276,265
599,726
1,263,763
1,863,489
276,265
300
300
300
300
300
1,142,589
1,390,883
277,623
864,966
1,142,589
1,390,883
111,370
74,876
110,939
431
111,370
74,876
3,131,734
2,297,287
988,588
2,143,146
3,131,734
2,297,287
-
Annual Report
2012 / 2013
24-2- Term deposits are reflected in the following table:
Group
Bank
20 March
(Restated)
2013
19 March 2012
(Restated)
19 March 2012
20 March 2013
Total
Total IRR Deposits
Foreign
Currency
Total
Total
m.IRR
m.IRR
m.IRR
m.IRR
m.IRR
m.IRR
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
119,929,407
96,160,141
119,236,954
121,654,067
97,132,418
Total
2,417,113
25- OTHER DEPOSITS
Balance of this account are as follow:
Group
Bank
20 March
(Restated)
2013
19 March 2012
Total
Total m.IRR
m.IRR
(Restated)
19 March 2012
20 March 2013
IRR Deposits
Foreign
Currency
m.IRR
m.IRR
Total
Total
m.IRR
m.IRR
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
61,212
239,899
61,212
61,212
239,899
9,006,381
11,336,462
7,762,219
10,019,485
12,064,443
Other
Total
2,257,266
26- ACCOUNTS AND NOTES PAYABLE
Balance of this account is as follow:
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
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85
Annual Report
2012 / 2013
27- OTHER ACCOUNT PAYABLE AND PROVISIONS
Balance of this account comprises of the following:
Group
20 March
2013
Bank
(Restated)
19 March 2012
20 March
2013
(Restated)
19 March 2012
m.IRR
m.IRR
m.IRR
m.IRR
Participation Papers Issued by Subsidiaries
3,539,172
3,998,668
Other Creditors
3,018,483
607,242
Temporary Creditors - Individuals
-
-
1,202,783
511,357
16,723
737,111
16,723
710,630
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
Deferred Damage Provision
393,990
222,874
Good Performance Retention
561,147
263,524
34,831
Withheld Tax
162,838
76,896
12,372
10,508
7,224
60,470
7,224
60,470
Provision for Payable Expenses
219,295
81,322
-
Other Technical Reserves
122,472
62,801
-
62,825
32,358
9,583
-
9,785
Issued Checks Held by Individuals
Temporary Creditors-Branches' Virtual Card Deposit
Social Security Organization
Temporary Creditors Subscribers' Bill Payments
Prospective Years' Insurance Premiums
9,785
15,201
14,764
Other documents Payable
342,287
159,438
Income on Certificate of Deposit
244,694
85,613
133,687
2,203
Foreign Currency Temporary Creditors
CBI Participation Papers - Principal and Income
Exchange Account Creditors
Files Under Negotiation
Temporary Creditors-Draft documents
Income Advances Received on Inter-bank Deposit
Other Provisions
Total
299,633
-
29,496
7,787
-
-
-
-
-
244,694
85,613
133,687
2,203
2,626,646
-
2,626,646
-
194,126
-
194,126
-
173,500
-
173,500
-
8,088,814
-
8,088,814
-
-
80,981
-
80,981
437
256
25,690,915
9,167,993
-
-
13,080,247
2,790,499
28- FACILITIES RECEIVED
Balance of this account is comprised of received made by subsidiaries as follows:
Group
20 March 2013
m.IRR
m.IRR
Facilities Received
6,337,090
2,238,551
Deferred Income
(543,331)
(448,266)
Deferred Fine
Total
86
www.bpi.ir
180,270
5,974,029
1,790,285
Annual Report
2012 / 2013
29- ADVANCES RECEIVED
Balance of this account is comprised of advances received by subsidiaries as follows:
Group
20 March 2013
m.IRR
m.IRR
Advances Received by Subsidiaries
29
150
Advances Received by Other Companies
690,292
106,082
Total
690,321
106,232
30- CORPORATE TAXES PROVISION
Group
Balance at the Beginning of the Year
Tax Provisions till 22/3/2010
Performance Tax During Period
Taxes Paid During the Year
Prepaid Taxes
Total
Bank
20 March 2013
(Restated)
19 March 2012
m.IRR
m.IRR
3,228,976
381,566
20 March 2013
(Restated)
19 March 2012
m.IRR
m.IRR
3,120,935
380,003
77,056
2,862,684
1,068,099
412,739
942,572
323,741
(2,032,060)
(401,214)
(2,020,936)
(380,003)
(34,717)
(26,799)
2,307,354
3,228,976
-
2,042,571
2,797,194
3,120,935
Based on the audited financial statements of subsidiaries, there are no underfunding or other tax issues at these companies.
www.bpi.ir
87
88
www.bpi.ir
1,679,670
2,446,123
3,548,255
6,309,426
10,159,820
14,189,140
March
2008‌
March
2009‌
March
2010‌
March
2011‌
March
2012‌
March
2013
30-1-1
30-1-2
30-1-3
30-1-4
30-1-5
30-1-6
4,712,860
1,618,705
979,722
704,271
403,051
214,696
Self Assessed
Taxable
Income
942,571
323,741
244,931
176,068
100,763
53,674
Self-Assessed
-
2,641,951
2,199,166
932,522
860,145
355,596
Tax
Assessment
Notice
Taxes
-
-
-
1,069,310
1,177,846
522,794
Final Tax
Notice
Total
-
323,741
494,269
425,889
1,177,846
522,794
Paid
2,042,571
942,571
-
772,000
328,000
-
-
Provision
Provision
(Restated)
19 March 2012
3,120,935
-
323,741
1,022,000
328,000
978,074
469,120
Provision
Provision
20 March
2013
Basic of declared profit amounting
Investigation of books- Final tax notice
issued Basic of declared profit amounting
Investigation of books- assessment made
/ objected to
issued
issued
issued
issued
Method of Assessment
30-1-5- A tax assessment notice for the year 2012 has been received by the Bank, however the Bank has sent a protest notice against the assessment.
30-1-6- Taxes for the year ended march 20, 2013 were calculated on self-assessed basis with due consideration of tax exemptions.
30-1-4- The Bank has protested the tax assessment for year 2011, and the tax file has been referred to a taxation settlement tribunal and is not yet been finalized.
30-1-3- Based on the final tax notice received for year 2010, taxes and penalties of m.IRR 955,977 are paid.
The Bank has protested the said assessments to the high taxation council.
30-1-2- Based on the final tax notice received for year 2009, taxes and penalties of m.IRR 1,177,847 are paid.
30-1-1- Taxes and penalties assessed by authorities for year 2008 has been paid during the current period in the amount of m.IRR 522,794 respectively.
Self-Assessed
Income
Year
Note
30-1- Bank corporate taxation position is as follows:
Annual Report
2012 / 2013
Annual Report
2012 / 2013
31- RETURN ON DEPOSITS PAYABLE
The balance of this account includes the following:
Bank
Balance
20 March
2013
Period’s
On-account
Return
m.IRR
Paid During
the Period
Balance
20 March
2012
m.IRR
m.IRR
m.IRR
140,361
3,916,361
3,851,426
205,296
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
Short-term Deposits
Special Short-term Deposits
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
78,984
2,376,456
2,455,440
2,753,329
24,882,089
24,121,976
Certificates of Special Investment Deposit
Total
3,513,442
32- DIVIDENDS PAYABLE
Balance of this account is comprised of dividends declared but not yet paid as follows:
Group
Note
Dividends Paid
32-1
20 March
2013
m.IRR
m.IRR
m.IRR
m.IRR
146,035
152,217
146,035
152,217
158,135
161,896
-
Related Subsidiaries
Total
Bank
20 March
2013
125,181
158,135
-
287,077
32-1- Payments of dividends payable for the Bank in the past six years is as follows:
Bank
Fiscal Year March
Declared
Dividends
m.IRR
Dividends
Paid Prior to
20 March 2011
m.IRR
Dividend Paid
During 2011
Balance at 20
March 2011
Dividends
Paid During the
Period
Balance at
20 March
2012
m.IRR
m.IRR
m.IRR
m.IRR
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
19-March-12
6,269,340
-
-
5,598,487
4,042,297
Total
16,062,340
-
31,781
88,448
-
6,240,013
29,327
152,217
6,275,522
146,035
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89
Annual Report
2012 / 2013
33- PROVISION FOR EMPLOYEES RETIREMENT BENEFITS
Changes of account during the period were as follows:
Group
Bank
20 March 2013
(Restated)
19 March 2012
20 March 2013
(Restated)
19 March 2012
m.IRR
m.IRR
m.IRR
m.IRR
167,716
107,401
118,660
75,299
(9,929)
(7,891)
(5,472)
(1,646)
Provision Accrued During the Year
100,325
68,206
65,860
45,007
258,112
167,716
179,048
118,660
Opening Balance
Paid During the Year
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:
Date of
Increase in
Shareholders’
Equity
90
Increase in
Capital
(Percentage)
IRR Amount of
Increase in Capital
New Shareholder’s
Equity Amount
m.IRR
m.IRR
Source of Contribution
23/10/2007
50
1,750,000
5,250,000
Receivables from shareholders and cash
contributions
14/07/2008
33
1,750,000
7,000,000
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
23/03/2011
18
4,158,000
27,258,000
contributions
20/03/2012
10
2,742,000
30,000,000
contributions
www.bpi.ir
Annual Report
2012 / 2013
34-2- Major shareholders and their respective shares at balance sheet date were as follows:
20 March 2013
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
688,770,388
2.30
625,816,776
2.3
1,024,767,925
3.42
725,423,217
2.66
599,130,529
2.00
544,370,000
Sahab Omid Iranian Co.
Banks Pension Fund
Refah and Tamin Atiye Omid Institute
2
Pasargad Financial Group’s Workers Future
Financial Security Investment Co.
1,477,986,086
4.93
953,319,046
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
12,672,380,299
42.24
11,842,412,111
43.45
30,000,000 ,000
100.00
27,258,000,000
100
Other Shareholders (below one percent)
Total
3.5
Number of Shareholders:
Individuals
Corporate entities
Total
19 March 2013
19 March 2012
47,933
46,864
301
295
48,234
47,159
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91
Annual Report
2012 / 2013
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
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
m.IRR
m.IRR
Retained Earnings
10,619,029
6,317,105
Total Shareholders’ Equity
48,109,735
38,416,498
General Provision for Doubtful Debts and Investments
Less: Amounts in Excess of 1.25 Percent of Risk Weighted Assets
Total Capital Adequacy
5,150,947
3,212,612
(2,301,833)
(1,016,982)
2,849,114
Investments in Other Banks or Credit Institutions
2,195,630
(96,031)
Basic Capital
Total Risk-weighted Assets
34-4-1
1.25% of Risk-weighted Assets
50,862,818
40,612,128
227,929,100
175,650,435
2,849,114
2,195,630
22.32%
23.12%
Capital Adequacy Ratio
34-4-1- Risk-weighted assets are as follows:
2013
Note
2012
Assets
Risk
Co-efficient
Weighted
assets
m.IRR
%
m.IRR
Assets
Risk
Co-efficient
Weighted
assets
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
8
11,864,471
0
5,825,718
0
15, 16
11,927,019
100
11,927,019
11,264,646
100
11,264,646
6,253,924
100
6,253,924
1,699,059
100
1,699,059
Investments
13
-
7,130,995
-
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
8,814,295
100
8,814,295
5,786,595
100
5,786,595
Net Tangible and Intangible Assets 17, 18
Other Assets
2,623,873
100
2,623,873
2,287,770
100
2,287,770
Commitments for Contracts
55-3
19
12,376,594
50
6,188,297
1,120,859
50
560,430
55-2
26,035,920
20
5,207,184
23,343,500
20
4,668,700
55-1
36,009,027
50
18,004,514
40,425,705
50
20,212,853
227,929,100
286,698,510
Total Assets Weighted Based on Their Risk
92
www.bpi.ir
371,485,167
175,650,435
Annual Report
2012 / 2013
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.
Bank
20 March 2013
m.IRR
m.IRR
Opening Balance
3,631,045
2,155,633
Reserves Allocated from Net Profit
1,986,985
1,475,412
5,618,030
3,631,045
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.
Bank
Note
Opening Balance
Reserve Added During the Period
20 March 2013
m.IRR
m.IRR
1,210,348
718,544
662,328
491,804
1,872,676
1,210,348
36-1
37-MINORITY INTEREST
Minority interest in subsidiaries is calculated as follows:
Group
20 March 2013
m.IRR
m.IRR
5,021,807
2,926,398
Share in Reserves
130,036
84,778
Share in Retained Earnings
434,953
615,754
(3,056)
(1,499)
5,870
6,263
5,589,610
3,631,694
Share in Capital
Unrealised loss
Assets’ Fair Market Value and Book Value Differences (for Subsidiaries)
Total
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93
Annual Report
2012 / 2013
38- INCOME FROM CREDIT FACILITIES GRANTED
Income from credit facilities includes the following:
Group
Income From
2013
m.IRR
Musharaka
Installment sales
Mudaraba
Ju’alah
Financial Leases
Late Payment Charges
Murabahah
Total
Bank
(Restated) 2012
23,633,810
2013
(Restated) 2012
m.IRR
m.IRR
16,560,855
25,576,872
m.IRR
17,752,989
79,314
104,315
43,268
85,137
5,099,697
4,389,630
5,099,737
4,409,652
183,408
160,619
336,536
446,400
8,846
15,170
499
4,690
994,330
1,383,784
1,005,024
1,438,467
1,524
30,000,929
-
1,524
22,614,373
32,063,460
24,137,335
39- INCOME ON INVESTMENTS AND DEPOSITS
Income on investments during the period is reflected in the following:
Group
Bank
2013
(Restated) 2012
m.IRR
m.IRR
2013
(Restated) 2012
m.IRR
m.IRR
1,645,549
910,456
1,285,532
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
Income from Sales of Investments
Gain (Loss) on Change in Value of Securities
Other
Income from Group’s Deposits Foregin Currency
Total
94
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12,372
691
7,507,563
5,395,486
717,364
-
-
-
7,092,945
5,088,007
31,721
62,054
31,721
61,245
7,539,284
5,457,540
7,124,666
5,149,252
Annual Report
2012 / 2013
40- SALES AND SERVICES REVENUE
Balance of this account consists of sale of goods and rendering of services by subsidiaries.
Group
Sale of Foreign Currencies
Income from Installment Sales and Capital Leases
Sale of Computer Hardware and Software
Sale of Properties
2013
(Restated) 2012
m.IRR
m.IRR
2,885,660
7,866,117
667,644
582,716
1,603,355
594,095
849,140
475,326
Sale of Petrochemical, Oil and Steel Raw Materials and Products
-
Sale of Cards and Technical Support
5,412
10,860
4,020,333
2,112,754
70
694
10,031,614
11,642,664
Income from Services
Income from Participation Papers
Total
102
41- COMMISSION INCOME
Commissions are reflected in the following:
Group
Bank
2013
(Restated) 2012
2013
(Restated) 2012
m.IRR
m.IRR
m.IRR
m.IRR
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
Total
-
1,140
4,975,775
2,428,808
-
1,140
4,843,655
2,335,786
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:
Bank
Gain on Foreign Exchange Translation
2013
(Restated) 2012
m.IRR
m.IRR
8,572
517,184
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95
Annual Report
2012 / 2013
43- OTHER INCOME
Group
Gain on Sales of Fixed Assets
Income from Collateral Assessment
Bank
2013
(Restated) 2012
2013
(Restated) 2012
m.IRR
m.IRR
m.IRR
m.IRR
20,751
-
10,811
-
2,238
2,883
3,360
4,027
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
-
-
60,972
-
-
13,562
11,957
-
-
2,483
2,165
-
-
Miscellaneous
212,873
96,771
11,042
3,944
Total
833,369
397,954
402,703
231,391
Income from Collateral Insurance
Income from Brokerage Services
Participation in Insurer's Income
Rental Income
-
44- DEPOSITOR’S PROVISIONAL SHARE OF INCOME
Group
Bank
2013
(Restated) 2012
2013
(Restated) 2012
m.IRR
m.IRR
m.IRR
m.IRR
3,808,004
2,536,807
3,916,361
2,641,151
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
2,376,386
371,462
2,376,456
371,462
24,554,316
18,839,712
24,882,089
19,078,331
Short-term Deposits
Special Short-term Deposits
Certificate of Deposits
Total
96
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Annual Report
2012 / 2013
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.
Facilities Granted
Investments & Deposits with other Banks
2013
(Restated) 2012
m.IRR
m.IRR
156,412,916
119,070,755
28,799,758
29,932,462
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
(24,882,089)
(19,078,331)
63,106
168,940
Payments On-account to Depositors from Joint Income
Under (over) Payment to Depositors
46- COST OF GOODS AND SERVICES SOLD
Balance of this account includes cost of goods sold and services rendered by the subsidiaries.
Group
2013
(Restated) 2012
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
Total
8,617,353
2,901
10,707,306
www.bpi.ir
97
Annual Report
2012 / 2013
47- PERSONNEL EXPENSES
Balance of this account is comprised of the following:
Group
2013
Bank
(Restated) 2012
2013
(Restated) 2012
m.IRR
m.IRR
m.IRR
m.IRR
Salaries
528,806
405,215
366,480
304,335
Bonuses
287,616
221,662
244,572
192,806
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
Commuting Allowance
Other
Total
354,568
202,115
325,492
176,361
1,621,462
1,176,788
1,331,097
982,354
48- GENERAL AND ADMINISTRATIVE EXPENSES
General & Administrative expenses during the year include the following:
Group
2013
Bank
(Restated) 2012
2013
(Restated) 2012
m.IRR
m.IRR
m.IRR
m.IRR
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
347,325
288,053
636,695
485,374
1,197,683
938,635
1,400,299
1,172,404
Other Expenses
Total
98
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Annual Report
2012 / 2013
49- DOUBTFUL DEBTS EXPENSE
Doubtful Debts expense Were calculated as follows:
Group
Bank
Note
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
1,689,547
780,832
1,847,631
775,944
m.IRR
Total
m.IRR
2013
(Restated) 2012
m.IRR
m.IRR
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
49-2- Special provision for Doubtful Debts was calculated as follow in accordance with
note 4-14:
20 March 2013
Past due
Deferred
Doubtful
Total
m.IRR
m.IRR
m.IRR
m.IRR
2,207,606
4,549,011
3,767,743
10,524,360
(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)
Balance on 20 March, 2013 (End of Period)
Less :
Special Provision for Facilities, Taking into Consideration,
Collaterals and the Calculation Basis Coefficient at End Period
www.bpi.ir
99
Annual Report
2012 / 2013
50- FEES AND FINANCE COSTS
Balance of this account is consolidated statement of profit and loss is comprised of the following:
Group
Bank
2013
(Restated) 2012
2013
(Restated) 2012
m.IRR
m.IRR
m.IRR
m.IRR
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
337,564
322,156
-
-
315
1,521
-
-
Allocated to Qualified Projects
(112,850)
(84,830)
-
-
Total
1,061,078
442,353
792,800
202,095
Finance Cost of Facilities Received from Other
Banks
Fees for Review of Applications
51- NET OTHER INCOME (EXPENSE)
Net Other Income (Expenses) are related to subsidiaries as Following:
Group
2013
(Restated) 2012
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)
(22,194)
(218,123)
Total
100
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Annual Report
2012 / 2013
52- RECONCILIATION OF PROFIT BEFORE TAX WITH CASH-FLOW
FROM OPERATING ACTIVITIES-GROUP
Group
2013
m.IRR
Profit before tax
(Restated) 2012
m.IRR
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
8,441,183
(578,159)
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
584,089
34,543
Operational Accounts Payable
1,007,606
(1,535,925)
Return Payable to Depositors
759,904
Demand Deposits
Saving Deposits
Operational Advances Received
154,864
69,782,865
31,308,704
Net (Increase) Decrease in Operational assets
Due from Central Bank of Iran and Statuary Reserve
Due from Other Banks
(7,693,468)
(4,756,897)
(5,225,353)
2,615,333
(37,066,845)
(28,823,530)
(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)
329,712
130,384
Inventories
(1,067,378)
(406,102)
(4,589,786)
Facilities Granted to non-public sector
Participation Paper
Capital Lease Income
Net Cash Inflow (outflow) from Operating Activities
(1,488,048)
(63,810,847)
(18,987,786)
20,849,925
22,808,763
www.bpi.ir
101
Annual Report
2012 / 2013
53- RECONCILIATION OF PROFIT BEFORE TAX WITH CASH FLOWS
FROM OPERATING ACTIVITIES-BANK
Bank
2013
(Restated) 2012
m.IRR
Profit before Tax
m.IRR
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
8,432,865
(578,159)
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
760,113
154,864
Demand Deposits
Saving Deposits
Return Payable to Depositors
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
(39,309,978)
(28,509,108)
(6,038,753)
2,519,600
(742,499)
(1,654,836)
(4,024,825)
162,059
Facilities Granted and Other Amounts due from Non-Public
Sector
Other Assets
Net Increase in Operating Assets
Net Cash Inflow from Operating Activities
102
www.bpi.ir
(63,034,876)
(29,623,849)
18,526,628
12,985,026
Annual Report
2012 / 2013
54- NON-CASH TRANSACTIONS
Major non-cash transactions during the year were as follows:
Bank
2013
Collateral Acquisition
MIDHCO Capital Raise
Pasargad machinery and equipment leasing Capital Raise
Pasargad Bank Brokerage House Capital Raise
Bank Pasargad Capital Raise
Saman Sakht Aryan and Modaberan Sakht Aryan’s Capital Raise
(Restated) 2012
m.IRR
m.IRR
2,043,145
-
385,796
-
10,800
-
9,800
-
2,146,599
3,236,438
-
4,820,000
4,596,140
8,056,438
55- OFF BALANCE SHEET ITEMS
Off balance sheet items of the bank consist of the following items:
55-1- Commitments on Letters of Credits:
Bank
20 March 2013
m.IRR
m.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 Commitments on L/Cs (IRR)
55-2- Commitments on Letters of Guarantee:
Bank
20 March 2013
m.IRR
Bank Commitments on L/Gs (IRR)
Bank Commitments on L/Gs (Foreign Currencies)
Total
m.IRR
20,610,315
16,838,224
7,606,251
8,201,768
28,216,566
25,039,992
55-3- Other Commitments
Bank
Commitments on Musharakah and Mudaraba
Commitments on Credit Cards
20 March 2013
m.IRR
m.IRR
1,458,918
97,771
812,084
1,023,088
Commitments on Certificate of Deposit
10,105,592
Total
12,376,594
1,120,859
www.bpi.ir
103
Annual Report
2012 / 2013
55-4 Managed funds commitments were as follows:
Bank
20 March 2013
m.IRR
m.IRR
Managed Funds-unused portion
745
744
Total
745
744
56- NET INCREASE (DECREASE) IN CASH Net increase in cash reflected in the statement of cash flows was as follows:
Group
Bank
2013
(Restated)
2012
Net
Increase
(Decrease)
m.IRR
m.IRR
m.IRR
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
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)
29,029,768
18,352,534
10,677,234
28,397,072
18,142,854
10,254,218
Note
Cash in Hand
Total
25,932,493
2013
Restated
2012
Net
Increase
(Decrease)
m.IRR
m.IRR
m.IRR
* Foreign Currencies
57- CONTINGENT LIABILITIES AND CAPITAL COMMITMENTS
The Bank has the following capital commitments at balance sheet date:
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
58- POST BALANCE SHEET DATE EVENTS
There has been no major events after balance sheet date requiring adjustments in the accounts or disclosure thereto.
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.
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
104
www.bpi.ir
8
9
11
21
23
24
25
26
Receivable from Other
Banks
Notes in Foreign
Currencies
Foreign Facilities
Other Accounts
Receivable
Due to CBI
Demand Deposits
Saving Deposits
Term Deposits
Other Deposits
55-1
55-2
55-3
L/Cs Commitments
L/Gs Commitments
Other Customer
Commitments
Total
Other Payables
7
Receirable from CBI
-
9,657,477.61
-
(62,818,723.62)
(3,588,116.77)
(680,094.00)
(92,175,464.00)
(50,387,225.67)
(35,933,973.49)
-
160,892.78
37,099,347.74
-
37,827,668.16
6,270,686.45
38,587,555.18
5
6
USD
Cash
Note
572,866,196.62
427,829,914.34
1,242,610,859.91
(334,687,224.29)
(262,665,218.75)
(233,295,295.18)
(157,263,174.11)
(77,039,397.17)
(44,364,969.94)
(241,230,689.33)
19,398,432.14
87,933,856.64
50,000,000.00
505,386,105.13
16,106,258.85
2,346,867.43
EUR
-
-
492,989.02
252,865.24
(7,564.34)
(72,496.24)
(813,084.00)
(107,590.29)
-
-
-
-
-
1,095,961.11
0.00
157,639.00
GBP
579,100,174.32
4,235,223.50
1,175,235,240.22
(195,969,362.98)
(401,836,593.77)
(109,971,803.68)
(278,057,337.51)
(1,154,007.74)
(49,097,415.04)
(7,831,977.67)
1,162,888.34
34,021,133.64
-
279,061,479.03
336,580,715.42
1,153,556.00
AED
847,074,361.00
680,079,750.00
681,752,188.75
4,235,357,444.32
(5,049,488.51)
(125,850,093.19)
-
(100,000.00)
-
-
56,354,563.00
2,484,833.80
-
4,307,467,629.22
-
50,000.00
JPY
-
-
3,976,950.00
(795,256.87)
(8,525.23)
(795,390.00)
(8,000.00)
(4,686.00)
-
-
3,733.00
-
-
7,097.36
-
10,514.00
CHF
-
-
-
588,785.04
-
-
-
-
-
-
-
-
-
588,785.04
-
-
SEK
32,372,610.14
-
15,681,578.03
211,174,797.45
(13,690,730.42)
(8,228,493.45)
-
(6,469.05)
-
-
2,288,797.90
235,829.71
-
230,573,302.76
-
2,560.00
TRY
Foreign exchange commitments as well as monetary assets and liabilities at the end of the year were as follows:
60- FOREIGN EXCHANGE POSITION 200.00
129,242,161.94
306,463,561.00
6,898,167,436.66
1,528,058,677.78
(195,204,050.31)
(513,875,883.97)
-
(76,064,416.32)
-
-
78,814,924.02
(88,701,141.40)
-
2,323,089,045.76
-
CNY
(0.01)
249,570,542,911.93
1,305,197,700.00
314,312,215,743.82
(119,707,941,792.42)
(84,745,019,249.70)
(111,101,052,560.16)
-
(41,334,833,096.84)
-
59,351,802.30
1,996,611,895.95
-
115,416,999,416.04
-
-
KRW
-
-
RUB
1,778,337,496.80
-
924,129,870.35
(887,638,413.08)
(1,523,205,890.75)
(260,755,919.61)
-
-
(8,161,888.00)
-
21,002,420.00
-
-
883,482,865.28
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED MARCH 19, 2012
-
445,360,283.46
-
1,982,083,755.38
21,710,827,703.92
(67,807,905.51)
(1,645,070,964.30)
-
-
-
-
-
-
-
23,423,706,573.73
INR
Annual Report
2012 / 2013
www.bpi.ir
105
Annual Report
2012 / 2013
61 - RELATED PARTY TRANSACTIONS
A) Bank’s transactions with related parties article 129 of the commercial code
Amount
Related Party Relationship
Transaction
Collateral
Settlement
m.IRR
Bank Pasargad’s share of
Dividends paid in 2012
Shareholder
MIDHCO
Settlement at Debt
Mabnaye
Shareholder
Khavar
and Board
Miyaneh Co.
Member
906,898
Settlement of Facilities
824,298
Granting facilities
(on account) Payment
for capital raise
Granting facilities
and Board
Member
penalties
Settlement of debt
Dividentes declared
Equipment
Leasing Co.
Shareholder
and Board
Member
Granting facilities
(on account) Payment
for capital raise
106
Cheques
www.bpi.ir
Party
25%
531,900
documents
31.9
Cheques
78,913 870,000
One year
24%
and
13%
documents
1,018,000
17
100,500
10,800
Cheque
757,000
documents
743,000 Pasargad
Bank
31,939
Pasargad
Bank
747,265
Arzesh
Afarinan
707,000
47,972
100,500
728,097
659,100
900,000 10,800
(Payable)
659,100
documents
Balance
Receivable
78,913
Shareholder
Forgiveness of facility
Machinery and
m.IRR
27.25%
3,100
Granting Facilities
Bank Pasargad
Guarantee
Controlling
ME Mabna Co.
Leasing Co.
One year
Rate
Amount
and Board
Member
Pasargad
3,100
Period
Type of
806,611
1,040,078
434,250
Annual Report
2012 / 2013
Amount
Transaction
Collateral
Settlement
Period
m.IRR
Rate
Type of
Amount
Guarantee
m.IRR
Controlling
Party
Balance
Receivable
(Payable)
(for the rest of) Bank
pasargad’s share of
205,585
Pasargad
Shareholder
Granting facilities
610,235
203,400
6 months
Documents
593,511
Cheque
756,085
Bank
Pasargad
Arzesh Afarinan and Board
Co.
Member
Forgiveness of facility
penalties
Bank pasargad’s share of
prepayment for
computer’s equipment
191
73,500
97,128
Granting facilities
704,720
Six Months
24%
13%
Cheque
548,362
728,220
Documents
160,529
512
230,773
57,956
18,383
272,510
30,961
50,000
50,000
12,384
Pasargad
Shareholder
Forgiveness of Facility
Aryan ICT Co.
and Board
penalties
(FANAP)
Member
Issued LGs
Settlement of LGs
Settlement of
prepayments
714,120
Pasargad
Bank
411,842
Bills issued and the
settlement of part of
debt from bills
settlement of On-account
Pasargad
Insurance Co.
payment
On account settlement
payment of part of
dividend
78,561
www.bpi.ir
107
Annual Report
2012 / 2013
Amount
Transaction
Collateral
Settlement
m.IRR
Pasargad
Exchange Co.
Cheque
22,040
and Board
2,500
On-account P.O.S
35,500
On-account Settlement
40,794
Member
Shareholder
and Board
Member
Settlement of debt
On-account capital raise
Shareholder
and Board
Member
Settlement of issued
guarantees
Issued LGs
Granting facilities
42,000 45,913 Documents
(Payable)
Pasargad
Bank
22,105
Pasargad
Bank
0
Pasargad
Bank
2,173
Pasargad
Bank
23,373
Pasargad
Bank
85,345
Pasargad
Bank
386,569
9,800
603,269
Party
Balance
Receivable
30,000
13,965
3,708,350 Controlling
30,000
Shareholder
Brokerage Co.
m.IRR
Bank Pasargad
Type of
Guarantee
Granting facilities
E-Payments Co.
Rate
1,980
Bank Pasargad
Period
Amount
607,889
3,651,350
42,024
Settlement of Cost
Modaberan
Sakht Aryan Co.
Shareholder
and Board
member
of acquisition and
reconstruction of
properties
569,890
76,042
Cost of acquisition
Saman Sakht
Aryan Co.
Shareholder
Board
Member
Pars Aryan
Board
Investment Co.
Member
108
www.bpi.ir
and reconstruction of
properties
749,320
Granting facilities
821,641
6 months
Documents
327,009
21.5%
Settlement of facilities
1,059,924 Cheques
577,776
Annual Report
2012 / 2013
Amount
Transaction
m.IRR
Pasargad
Research and
Management &
Human Capital
Development
On-account payment
13,000
Collateral
Settlement
Period
Rate
Type of
Amount
Guarantee
m.IRR
Controlling
Party
Pasargad
Bank
and Board
On-account settlement
10,000
7,500
(Payable)
Shareholder
Member
Balance
Receivable
3,000
Institute
Iranian
Shareholder
Reinsurance
and Board
Company
Member
Pasargad Energy
Development Co.
Pasargad
Financial
Group’s Tamin
Maskan Co.
Shareholder
Mutual
Board
Member
7,500
Shareholder
and Board
Member
0
supplying Human
Capital
164
Providing Insurance
Services
135
Pasargad
International
66,050
exchange of securities
97,585
selling of shares of
company and staff
resign
2,401
Selling of future
Guarantee
2,469
142
15,532
102
14,306
45,440
providing of insurance
services and dividend
91,771
Armaghan
264
Trade Co.
pre-selling of
administrative
apartments
Current payments for
Bokharest property
Iranian
Reinsurance
Company
selling of securities
Pars Aryan
Board
Investment Co. Member
(68)
(10,728)
84,347
www.bpi.ir
109
Annual Report
2012 / 2013
Consolidated subsidiaries Transaction with related Party
Amount
Transaction
m.IRR
Current payments for
Hamila project
Arian
Engineering
System
Construction
Board
Member
Management Co.
Pasargad Pars
Heritage Co.
Mutual
Board
Member
Mutual
Board
Member
753
Selling of future
gurantee
4,548
Managed funds
6,398
440
dividend received
1,444
pre-selling
of Mirdamad
administrative
apartments
1,000
Providing Insurance
services
189
prepayment shares
2,979
payments made for
construction of Imam
Ali project
1,034
selling of shares
Pasargad
purchasing of
administrative
equipment
16,753
13,917
leasing
rent & Installment
facilities of material
Balance
Receivable
(Payable)
597
1,169
57
1,271
providing of insurance
services
purchasing of card and
software
4,591
DATX
Shareholder
& Mutual
Board
Member
on-account payment
3,965
ETICK Pars
Shareholder
selling od pre-paid
card
www.bpi.ir
Party
1,950
110
m.IRR
purchasing of Irancell
transaction fee
Mutual
Board
Member
Guarantee
Controlling
7,000
Hasin Qeshm
Creative
Rate
Amount
purchasing of
administrative
equipment
Dargah Zamen
Construction Co.
Period
Type of
62
Allocation of Qarz ol
hasaneh
Mutual
Tamin Atieh Co. Board
Member
Collateral
Settlement
10,479
(11.6475)
- (644)
(3,965)
9,498
Annual Report
2012 / 2013
Amount
Transaction
m.IRR
Nozhan Sanat
Construction
Shareholder
& Mutual
Board
Member
Shareholder
Qazvin Civil and & Mutual
construction Co. Board
Member
on-account payment
Participation in Qazvin
Booali Project
Collateral
Settlement
Period
Rate
Type of
Amount
Guarantee
m.IRR
Controlling
Party
Balance
Receivable
257
(Payable)
257
18,687
(11,014)
B) Other Related Parties
Arzeshpardaz
Aryan
related
Investment
party
Consulting Co.
(AAICCO)
Providing of services
Mobin
Investment
Development
Company
Selling of shares of
MIDHCO
Mutual
Board
Member
Close to
3rd Millennium CEO or
Hamyaran Co related to
CEO
Commission payment
400
200
901,480
0 5,732
0 www.bpi.ir
111

www.bpi.ir

Transcription

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