TEHRAN – Pasargad Bank has started distribution of its stocks to its real and legal stockholders for a period of 20 working days as of Feb. 4, a report by the bank’s Public Relations said.

The bank is also planning to in the very near future open an “On the Counter” (OTC) bureau which would make it possible for the real and legal shareholders to carry out their transactions there, the report added.

The report also warned the clients of Pasargad Bank to avoid any transaction outside the stocks bureau of the bank or through the internet sites.

Currently, the bank has five branch offices in Tehran and three branches in Mashhad, Rasht and Isfahan. It is also planning to open new branches in Tabriz, Sari and another one in Tehran.

The bank, with an initial capital of 3,500 billion rials was established on Aug. 2, last year. Its first branch started operation on Dec. 14 last year.