In the fiscal year ending March 2005, profits grew by 23.9% to reach Rls1042bn while assets grew by 46% to reach Rls87,700bn and deposits grew by 45%.
Keshavarzi’s outstanding performance was also reflected in its growth of Tier One capital from Rls3,449bn to Rls5,829bn in March 2005, the highest in the Iranian banking industry. The bank also increased its number of accounts by four million to reach 20 million.
CEO Dr Jalal Rasoulof says Bank Keshavarzi has once again overtaken the competition and owes this success primarily to these strategies: “Understanding the new paradigm of reform, innovation and change in managing our business; promoting strategic thinking in the area of value creation for both customers and shareholders; breaking all the old fashioned rules and regulations and managing the bank’s strategic turning points through daring management initiatives. At Bank Keshavarzi we have all learnt well that yesterday’s solutions are no longer useful for today’s problems.”
