New President of JS Bank meets with Journalists

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New President of JS Bank meets with Journalists

KARACHI: The President and CEO of JS Bank, held a media engagement event at its Head Office located at Shaheen Complex, Karachi. The session was hosted by JS Bank’s President and CEO, BasirShamsie. Attendees included leading journalists from a cross-section of the print and electronic media community. The reporters felicitated Mr. Shamsie on having taken over the role of President of JS Bank and congratulated him on the Bank’s rapid growth.
Speaking on the occasion, Mr. Shamsie shared the Bank’s history stating, “Our journey of success had humble beginnings. When we took over the operations of American Express Bank in Pakistan, we had just 4 branches with approximately 150 people nationwide. Today we have 322 branches in 160 cities and one international branch in Bahrain, staffed by over 5,000 employees. This translates into a new branch being opened practically every fortnight. Our evolution from an investment bank in 2007 to one of Pakistan’s leading consumer, retail, SME, corporate and digital banks is a testament to the Bank’s vision and team.”
Commenting broadly on the overall financials, Mr. Shamsie informed the attendees that JS Bank’s equity has risen to PKR 16.7 Billion while Profit Before Tax stands at PKR 1.1 Billion as of June 30th, 2018. JS Bank remains fully compliant with the Capital Adequacy Requirement (CAR) of the State Bank of Pakistan (SBP) while limiting the non-performing loans (NPL) ratio to less than 2%.
He also spoke on how the Bank is amongst the top 5 banks when it comes to a variety of customer focused offerings including SME, Home and Auto loans. Considerable efforts are also being made in the sphere of Youth Development, Entrepreneurship Clean Energy and Agriculture lending. JS Bank is amongst the top banks in the Prime Minister Youth Business Loan (PMYBL) program. Alliances with leading companies such as Careem, Engro and Nestle have allowed JS Bank to give ordinary people the means to earn a decent livelihood. Other innovative offerings launched include JS Gold Finance where people can just walk into a branch, pledge their gold ornaments and walk out with cash within just 100 minutes.