Exceeding expectation: Bank of Punjab striving to become the best, says CEO

Naeemuddin says bank’s assets have risen 90% since 2008.

LAHORE: The Bank of Punjab will be made the best bank of Pakistan in line with the vision of Chief Minister Mian Shahbaz Sharif as the management is striving to achieve certain goals including an agreement to promote branchless banking.

In a short span of five years, the bank’s assets have hit Rs375 billion with an increase of Rs168 billion.

The branchless banking, with the assistance of Zong, will help the provincial government save Rs25 to Rs27 billion annually and transfer funds, which usually takes three months, in just 15 days.

These views were expressed by Naeemuddin Khan, President and CEO of the Bank of Punjab, in an interview with The Express Tribune.



Khan, who took charge of the bank under difficult conditions, has promised to the chief minister that the bank will be made the best in Pakistan.

He said he had worked hard with his team while keeping merit and transparency in view, adding corrupt officials appointed on key posts were fired and those who were responsible for creating problems for the bank were strictly dealt with.

Khan said he had asked the chief minister that there should be no political interference if he wished to make the bank better and the minister kept the promise. “He never recommended anyone for special treatment or a position in the bank.”

Growth

Sharing statistics, he said the bank’s assets stood at Rs375 billion, a 90% rise since 2008 while deposits rose from Rs164 billion to Rs306 billion, up 87%.

The number of bank branches has reached 334 from 272 including 289 branches in Punjab, 12 in Sindh, 10 in Khyber-Pakhtunkhwa, 10 in Islamabad, three in Azad Kashmir, two in Gilgit-Baltistan and one in Balochistan. The network also includes seven Islamic banking branches.

“My team comprises honest professionals proven from the fact that not a single officer has taken a day off in the last one and a half years,” boasted Khan.

He added the bank had made recoveries from the defaulters despite pressure and threats. It recovered Rs4 billion from Haris Steel Mills and would sell other assets of the mill at an auction soon.

Khan stressed that the bank was handling all financial matters of the Punjab government and was working hard to make things better with the passage of time.

“Primary focus will be on branchless banking, which will not only help in reducing leakage of funds, but will also enable the government to save over Rs27 billion annually.”

The bank is also automating the Punjab government’s licensing system as well as the working of the revenue department in a bid to put an end to misappropriation of funds.

Published in The Express Tribune, May 9^th, 2014.

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