NBP actively selling loan scheme

KARACHI: National Bank of Pakistan (NBP) has said that it has taken the lead and carried the Prime Minister’s Youth Business Loan (PMYBL) scheme as a flagship project with 99% market share. The bank said its commitment to the success of the scheme is evident from the fact that it has disbursed nearly Rs9 billion to more than 9,000 customers. However, the branches and regions have to complete the credit process and necessary due diligence as it is a loan product. NBP said it is actively marketing for new applications and in 2016 alone, it has marketed approximately 15,000 applications. Out of 77,000 applications received so far, approximately 62,500 were submitted by walk-in customers. At the time of scheme launch and until May 2016, there was no active selling. Hence, NBP didn’t have any role in determining the provincial distribution of the applications received and loans sanctioned. Now, NBP said, it has clear plans and strategies for a more equitable and proportionate distribution of applications solicited.

Published in The Express Tribune, November 17^th, 2016.

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