The majority shares of the Bank are held by the Government of the Province of the Punjab. The Bank has fully owned subsidiary M/s Punjab Modaraba Services (Pvt.) Ltd, which is profitably managing a modaraba company. Bank's paid up capital has now grown upto Rs 3.85 billion from an initial amount of Rs 0.06 billion. Since its incorporation, the bank has grown manifold showing remarkable growth in all aspects.
Especially, after the new management took over the affairs of the bank in 2003 there has been tremendous boost in its growth rate owing through application of prudent and pragmatic policies with futuristic approach. Owing to its significant performance, profitability, financial standing and market penetration the bank has attained reputation of a responsible corporate citizen playing a pivotal role in economic and social development of the country.
Currently, the Bank of Punjab is regarded as one of the most profitable banks of the country both in absolute & real terms. Total asset base of the Bank on December 31, 2006 was Rs 164.9 billion, 61% of which ie Rs 101.3 billion is represented by advances, while deposit figure of the bank stood at Rs 137.7 billion. Branch network of the bank on 31 December, 2006 was 266 branches which is sixth largest network in Pakistan.
Recognising the role of technology in effective/efficient operations of financial sector, BOP has computerised all its branches which are inter connected vide online system. Bank's customers are facilitated by shared network of online ATMs in all major cities of Pakistan.
Banks play vital role in building a country's economy. BOP is fully aware of its responsibility towards the development of national economy. Bank's profits have grown continuously over the last few years, it has also served different sectors of the economy for the purpose of improvement and development. BOP with a vast branch network, spread throughout the country covering most of the rural and under developed areas, has served vastly the Agricultural and SME sectors through its Agricultural, SME and Consumer Financing Products. With day to day expansion and enhancement plans, the Bank keeps on creating employment opportunities for thousands of individuals living in the country, enabling them to support their families. Currently, almost 3,500 individuals are working with the Bank of Punjab.
BOP is one of the largest tax payers in the country. Millions of Rupees are deposited by the bank in the national exchequer in form of income tax and federal excise duty. In recognition of the contribution towards national exchequer, the Central Board of Revenue (CBR) has conferred with "Excellence Award" to BOP in 2006.
The Bank believes that efficient, hardworking, talented and qualified human resources are the main drivers behind the success of any organisation. Especially, for the organisations working in the service industry, effective human resource base is a key to success. Fortunately, The Bank of Punjab is gifted with dedicated, qualified and skilled employees who not only understand and foresee the vision of the bank but also do great efforts to achieve bank's goals and objectives. The bank is aware of continuous training needs for its employees due to emergence of day to day improved management and other business techniques. The bank has an Officers' Training Institute (OTI), full time dedicated towards the development of its staff. Along with specifically required trainings on new developments, the employees are also provided with regular trainings, as a mandatory requirement, to enhance their existing skills and exposure. Besides the employees are also provided with opportunities to attend training workshops and seminars etc outside OTI at various forums like PBA, IBP, SBP, NIBAF, etc.
To encourage the efforts and to develop organisation loyalty, employees are rewarded in the form of promotions and bonuses keeping in view their performance. Bank also provides its employees with Group Life Insurance and Medical Insurance to facilitate them during hard times.
Sound financial footing, improved profitability and competent management are the key factors taken into consideration by the credit rating companies while assigning highly stable credit ratings to the bank both for the long term and short term:
-- Long Term AA (Double A)
-- Short Term A1+ (A one plus)
The Bank believes in the philosophy of "the best way of doing business is the client's way". Consequently, all the products and services being offered by the Bank of Punjab are tailored according to the clients' preferences ensuring their complete satisfaction. For this very reason and due to the fact that The Bank of Punjab is catering almost all the sectors and classes of the nation, our existing products and services frequently undergo modifications and developments ensuring maximum value addition for the melioration of clients and national economy.
Besides its existing product lines and services range, The Bank of Punjab is continuously launching new products and services in order to cater emerging market needs to acquire strong competitive edge over its competitors.
NATURE OF BUSINESS:
The Bank of Punjab is a scheduled Bank engaged in business of banking as defined in the Banking Companies Ordinance, 1962 & The Bank of Punjab Act, 1989. Its competitors are various commercial banks offering products and services to public & private sector individuals/ enterprises.
MAIN BUSINESS ACTIVITIES:
-- Accepting deposits from individuals/ institutions/ public & private sector enterprises
-- Providing financial facilities in corporate/ agricultural/ SME & Consumer financing
-- Handling local/ foreign remittances
-- Facilitating imports/ export business
-- Making investment in equity market
-- Treasury operations
-- Providing safe custody services to customers
-- Providing brokerage services
-- Providing cash management services to the customers
PRODUCTS:
Financing Products:
-- Corporate Financing
Running Finance, Demand Finance, Export Refinance, Cash Finance, Project Finance
-- Agricultural Financing
Kissan Dost Tractor Finance Scheme, Kissan Dost Aabiari Scheme, Kissan Dost Mechanization Support Scheme, Kissan Dost Farm Transport Scheme, Kissan Dost Livestock Development Scheme, Kissan Dost Commercial Agro Services Finance Scheme, Kissan Dost Agri Mall Finance Scheme.
-- Consumer Financing
-- Quick Cash, Aasiash Loans, Car Loans, House-building Loans
-- SME Financing
-- SME loan
-- Deposit Products
-- Saving Plus Accounts
-- Corporate Premier Accounts (fixed/chequing account schemes)
-- Munafa-hi-Munafa (fixed deposit scheme)
-- Other Products/ services
-- Cash management services
-- Underwriting equity and debt issues