PPCB: Bank recovers Rs1.52b from debtors

LAHORE: The Punjab Provincial Cooperative Bank (PPCB) has accomplished recovery of Rs1.52 billion Non Performing Loans (NPLs).  Of the aforementioned sum, Rs 1.27 billion have been recovered in cash, whereas property of defaulters amounting to Rs0.25 billion has been transferred in the name of bank. According to a press release issued on Tuesday, it was also stated during a briefing that the bank was giving Kharif-2012 crop loans to the tune of Rs2.5 billion to small farmers through cooperative societies till July 31.  The meeting was apprised that restructuring of the bank was under way and e-mail and internet facilities were being provided at all branches. Punjab Cooperatives Registrar Sheryar Sultan directed officers to accelerate recovery of bank’s loans, particularly NPLs, and achieve the set target for disbursement of Kharif-2012 crop loans.

Published in The Express Tribune, July 18^th, 2012.