ZTBL intends to open 150 more branches all over country

Zarai Taraqiati Bank Limited (ZTBL)'s Lahore zonal office on Friday organised a function to mark the bank's golden jubilee. ZTBL's zonal chief/vice president Aurangzeb Mohsin Khan and other bank's senior officials were present on the occasion. While addressing the audience, the zonal chief said in the series of the bank's golden jubilee celebrations, its first function was held in the Presidency on May 6, which is a great honour for the bank.
He also said the function was attended by leading personalities, including the Governor of State Bank of Pakistan, ambassadors and ZBTL president Chaudhry Muhammad Zaka Asharf. "This reflects that the bank has the confidence and support of President Asif Ali Zardari," he added.
On the bank's performance, he said in the last three years, the bank's deposits have increased from Rs 1 billion to Rs 10 billion. "In 2009, the bank's gross profit was Rs 5 billion while its net profit stood at 3.5 billion. In 2010, the Lahore zonal office alone extended 6 billion worth of loan to small farmers and the recovery rate stood at 94.5 percent. This surely reflects that the bank is progressing," he added.
The zonal chief also disclosed that the ZTBL is also venturing in to commercial banking and in this connection they have applied for a commercial banking license with the State Bank of Pakistan. "The bank has fulfilled all the requirements of the central bank," he added.
According to him, once the central bank grants the license, they are planning to open three commercial bank branches in Lahore (Gulberg, Defence Housing society and Johar Town). Also, the ZTBL intends to open 150 more branches all over the country.
Aurangzeb Mohsin Khan welcomed the statement of the President that his government would continue to extend loan on low mark up to farmers. He said to facilitate farmers, the bank is offering Benazir Tractor Scheme and crop insurance, and also it will ensure supply of fertiliser, seeds, pesticides and other agricultural inputs to small farmers. He also hailed the President's announcement of giving the bank employees 25 percent increment, bonus and making work-charge workers a permanent employee of the bank.