Thank you all for your trust and support in last 9 years for bank activities. In this period, our most important goal was to continue to deliver long term value to you, our shareholders and other stakeholders, as we executed our ambitious strategy to reach our vision.

Last year was challenging for the banks, especially due to unfair rivalry among some banks created unfavorable condition in banking industry. Despite that, we had a great year earning IRR 74,037,596 million. We stand among the most customer-oriented, innovative, modern and valuable institutions in Iran.

While the Iranian national economy underwent a difficult period, bank Pasargad continued to grow and improve.

I remain assured that we will perform even better in the forthcoming years as the Iranian economy will be redressing itself and blossoming.

After securing CBI consent, we increased bank’s paid-up capital by 30 percent to IRR 42,000,000 million. Bank Pasargad maintained its position as one of the largest commercial banks in the Islamic Republic of Iran and was ranked with the world's 233rd top bank in the July 2014 edition The Banker magazine highlighting a noteworthy improvement from last year's rank of 257th (the highest rank among all Iranian banks).

Our financialresults for the fiscalyear 1393 (21 March 2014- 20 March 2015) illustrate the progress we have made. For the full year, the bank reported total shareholder's equity of IRR 67,528,074 million as compared to IRR 52,485,378 million in the fiscal year 1392 (21 Mach 2013- 20 March 2014) (an 28.7% increase). The bank's total assets grew by 17.7% reaching IRR 444,243,740 million and our EPS was IRR 301.2. In the same period, granted credit facilities were up 25.5 % reaching IRR 275,119,381 million, while total deposits stood at IRR 355,704,036 million showing 14.3% growth.

Bank Pasargad has continued to progress in line with our vision to become the best financial services company in the Middle East and to be ranked among the world's top 500 corporations.

Our mission is to realize high returns and further prosperity for our stakeholders by assuring a continuous and sustainable growth for the bank and by having a significantcontribution to the growth of the Iranian national economy. Furthermore, we remain committed to fulfillour corporate social responsibilities and remain faithful to our core values.

We remain a fully "customer-focus" financial institution having embraced the direction "Customer is the essence of the bank", we intend to help all our customers to fulfill their hopes and ealize their dreams.

Adherence to our values and beliefs, commitment to our social responsibility and integration of sound environmental, social and governance practices into our day-to-day business activities lays the foundations for the bank's sustainable long-term growth. We have a responsibility to give back to the community in ways that matter most to our stakeholders.

In closing, I would like to pay tribute to our board members for their tremendous efforts and contributions and to thank our great team of "Pasargad" bankers for their continuing commitment and hard work which is the cornerstone of our success.

We aim to continue creating value and achieving great results for our shareholders.