The Punjab Provincial Co-operative Bank Limited (PPCBL) will soon launch new deposit schemes, for the convenience of its clients. PPCBL President/CEO Liaqat Durani disclosed this during a meeting with four delegates of Shore Bank International, held here on Thursday, said a bank's spokesperson. He told the delegates that the new schemes would include Khushhali Account, Life Time Income Plan, Apna Paisa Apna Munafa and Rozana Khazana (on the basis of daily profit).
He also briefed them about the progress of the bank and issuance of loans of more than Rs 8 billion annually to small farmers through more than 23,000 co-operative societies and individuals in all over the province through its 159 branches. He said the bank soon would open three more branches along with five sales and service centres in Lahore and one branch in Rawalpindi with the permission of the State Bank of Pakistan.
According to him, soon the bank will also start two non-agricultural basis schemes, Business Increase Loan Scheme and Aabyari Loan Scheme. They are also increasing its deposits by initiating a scheme for children's education with the name of Kids Education Plan and attractive deposit schemes for senior citizens.
The delegates were also told that the bank has earned a profit of Rs 508 million (before tax) in 2010-11, while it received approximately Rs four billion against the recovery of old loans. They were also briefed about the restructuring and automation of PPCBL.
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