The devastating effects of the global recession in the year 2009 as well as a slump in the current state of housing projects in the property market have severely affected the Bank of Industry and Mine. Having indicated this, however; thanks to the government’s preventive measures, known to be effective, there has been a rise in the ratio of staff employment at large industrial plants (only with a slight decrease compared with the same period in the previous year) and a substantial rise in sales and infrastructural products such as steel, cement, and aluminum.
Within the same year, the equity capital of the banks’ granted financial facilities and non-bank credit institutions to the industry and mine sector reached the sum of 405.8 thousand billion rials with 5.9 percent growth in proportion to the end of the year 2008.
In the course of year under review, the government-funded development which came in the shape of capital asset and fundamental development scheme for the industry and mine sector increased and consistent with the statistics of The Treasury, the sum of 2.696 billion rials was remitted to the above mentioned sector which proves growth of 5.9% in comparison with the previous year.
Owing to the fact that the development of the industry and mine sector is one of the most significant ways of our country’s development and it is an irreplaceable method in qualitative and quantitative economic structures, the Bank of Industry and Mine, in line with Articles of Association, is honoured to have exploited its full potential and capabilities along with all the resources available to grow and develop in industry and mine in addition to modern technology. Besides, to facilitate the development of this sector, crucial steps have been taken in funding the industry and mine’s logistics schemes.
Having had 43 branches along with 1000 personnel all over the country, the Bank of Industry and Mine granted approximately 10% of the bank’s credit facilities within the industry and mine sector.
In order to reach and secure its proper place as a development bank and to play an effectual part in the industry and mine sector, BIM has the potential to increase the current contributions to no less than 20 percent. Beyond doubt, this matter of paramount importance will be achieved under the auspices of our efficient and qualified staff, IT facilities, a great track record of the developmental process, formulation of policies and proper procedures, standardization of current activities and international communication.
Considering the prominent position of the quality management and being an elite bank who managed to obtain the Total Quality Management (TQM) license, in the Bank of Industry and Mine as the first and the only Iranian bank with a broader covering range of carried procedures, the above-mentioned license has renewed for three consecutive years on account of the recent global standard edition (ISO9001:2008).
In the year 2009 “The Banker” ranked BIM among the world’s 20th bank regarding Capital / Asset ratio with an annualized return on assets (ROA) of 29%.
In the year 2009 during the 32nd Annual Meeting of Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), BIM won The Infrastructural Development Award for the brilliant performance at provision of financial support to large and major industrial projects in 2008 for three consecutive years. Furthermore, the Bank of Industry and Mine was elected a board member of this international federation for another extended period of time.
In the year 2009, an agreement was ratified in the Bank of Industry and Mine that made the bank grant credit facilities for the sum of 37.727 billion rials– all following the principles of Islamic, usury-free banking. The figure shows a dramatic and substantial increase as against last year.
In addition, in the year mentioned above, BIM put in place a loan facility worth 3.772 billion rials for a few schemes to be brought into operation to facilitate direct employment opportunities for 15,219 people.
Throughout fiscal year 2009, the Bank of Industry and Mine granted an equivalent amount of 14.466 billion rials loan facility to the industrial and mining projects especially in the form of logistics schemes of the country’s industrial and mining plans; accordingly, BIM’s performance showed a massive 47 % increase from the previous year.
Early in the year 2009, BIM reported ‘A Year Profit Before Tax’ of 948 billion rials which edged up 22% as of the earlier 2008 year.
Last but by no means least, the remarkable achievement of the Bank of Industry and Mine, in a nutshell, relies a great deal on our highly-skilled and committed staff and senior managers, certain measures the board has adopted, relevant government-owned institutions and organizations’ best endeavours in addition to patronage of much of the bank’s General Assembly especially the Ministry of Industries and Mines that the Bank of Industry and Mine has enjoyed to date.

Following this, next year we are hoping to succeed in assisting fund the logistics schemes of the industry and mine which has proved one of the most pivotal official missions the highly esteemed government of the Islamic Republic of Iran has undertaken for the Bank of Industry and Mine.

Yours faithfully,
Mohammad Reza Pishro
Chairman of the Board of Directors and Managing Director