GROWTH WITH EMPATHY
Nurturing Prosperity, Compassion, Inclusiveness
ANNUAL REPORT
2021
TABLE OF CONTENTS
ABOUT THE BANK
02 The Bank of Punjab
05 Vision Statement
07 Mission Statement
09 Values "E-time"
1 1 Credit Rating
12 Products & Services
- Corporate Information
- Organizational Structure
43 Board of Directors - Composition, Performance and Profile
48 Board Committees Composition and TORs
55 Shariah Advisor Board Composition and Profile
58 Management and Its Committees
CORPORATE GOVERNANCE
60 Policies and Framework
- Board Remuneration Policy
- Auditors' Review Report on Code of Corporate Governance
- Statement of Compliance with Code of Corporate Governance
- Statement of Internal Control
- ECONOMIC REVIEW
- PRESIDENT/CEO's REVIEW
- DIRECTORS' REPORT
- REVIEW REPORT BY CHAIRMAN OF AUDIT COMMITTEE
- REPORT OF SHARIAH BOARD
ANALYSIS OF BANK'S PERFORMANCE
94 Analysis of Bank's Financial Performance
STAKEHOLDERS RELATIONSHIP
122 Code of Conduct
- Operating & Competitive Environment
- Strategy & Resource Allocation
- Fair Treatment of Customers
- COVID-19Recovery Plan Statement by Management
- Forward Looking Statement
135 Stakeholders Relationship
137 Sustainability and Corporate Social Responsibilities
143 Notice of AGM
147 Unconsolidated Financial Statements The Bank of Punjab
261 Consolidated Financial Statements The Bank of Punjab Group
374 List of Branches and Offices | 375 Pattern of Shareholding | 381 Form of Proxy |
1
THE BANK OF
PUNJAB
The Bank of Punjab was established in 1989 under The Bank of Punjab Act, 1989 by the Government of the Punjab. The Bank was granted status of a scheduled Bank in 1994 by SBP and currently carries a vast network of 662 online branches spanned across the Country along with ATM network of 614 offering 24/7 banking services to its diverse clientele. The Bank's Head Office is located in Lahore whereas Treasury & Capital Market operations are being managed from Karachi. The Bank of Punjab is the second largest public sector bank of the Country.
Geographical breakdown of Bank's branch network as on December 31, 2021 is as under:
Province/ | No. of | No. of Islamic | Total |
Conventional | |||
Territory | Branches* | Branches* | |
Branches* | |||
Punjab | 447 | 76 | 523 |
Sindh | 30 | 6 | 36 |
Khyber PK | 39 | 17 | 56 |
Baluchistan | 8 | 6 | 14 |
Azad Kashmir | 3 | 1 | 4 |
Gilgit / Baltistan | 6 | 2 | 8 |
Federal Capital | 15 | 6 | 21 |
Total | 548 | 114 | 662 |
*Including Sub Branches
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662Branches & 614ATMs
24/7 BANKING SERVICES
The Government of the Punjab (GOPb), being majority shareholder and sponsor of the Bank, holds 57.47% shares of the Bank. As majority shareholder, Chairman of the Board is nominated by the Government of the Punjab from amongst official Directors. Further, in terms of section 10(3) of The Bank of Punjab Act, 1989, the Chairman shall preside over meetings of Board of Directors and shall have a casting vote, but he shall not exercise any executive authority or power. The President/CEO, besides being Executive Director, runs the affairs of the Bank in line with governing rules and regulations.
The Bank of Punjab, in order to meet business requirements of its diverse clientele, is offering all permissible products and services in line with modern banking requirements. While having multiple deposits products to cater needs of all type of depositors, the Bank has a strong footprint in the areas of Corporate & Investment, Commercial, SME, Agriculture and Consumer financing products. The Bank launched Islamic Banking operations in the year 2013 and is currently offering a wide range of Shariah compliant products and services to its valued clients through this platform, as well. Through the umbrella of Alternative Delivery Channels (ADCs), the Bank is offering 24/7 services of ATM withdrawals, Branchless Banking, SMS Banking, Mobile Banking, Phone Banking etc.
While achieving the objective of financial inclusion through its presence in remote and unbanked areas, the Bank is playing its due role in the economic growth of the Country through its various specially tailored lending products including initiatives of Government of Pakistan and Government of the Punjab such as Kamyab Jawan Scheme of Prime Minister of Pakistan, Low Cost Housing Scheme of Government of Pakistan and Punjab Rozgaar Scheme.
The Bank of Punjab has following Subsidiaries:
- Punjab Modaraba Services Private Limited
- First Punjab Modaraba
- Punjab Capital Securities Private Limited
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Bank of Punjab published this content on 08 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2022 12:02:09 UTC.