ISLAMABAD: The National Bank of Pakistan (NBP) is planning to offer advance salary personal loan of up to Rs. one million to the employees of private sector from next year.
"Advance salary personal loan finance facility was targeted towards public sector employees who were already NBP's account holders but now we have plan to enhance our services to the private sector employees as well", Adnan Adil Hussain, Senior Vice President and Divisional Head of NBP said while addressing a press briefing here on Tuesday.
He said that so far the NBP has disbursed more than Rs 210 billion and more than 1.6 million government employees have been benefitted from the scheme.
"Despite these huge volumes, the infection is only around 2 percent", he said adding all the government employees receiving salaries through NBP could get personal finance up to Rs. 1 million.
The NBP arranged the press briefing to mark 136th birth anniversary of father of Nation Muhammad Ali Jinnah and paid tribute to Quid-e-Azam's untiring efforts for creation of Pakistan.
Adnan Adil said that the NBP has over 1.8 million salaried accounts and over 2.4 million pensioners' accounts.
He said the NBP is providing free of cost services to the pensioners across the country.
"Disbursing the pensions and salaries month after month to such a large number of people is not an easy task and the bank is trying to improve the system of paying pensions and salaries.
Referring to NBP's Cash in Gold product, Adnan Adil said that this is a unique product and has very silently become a flagship for the NBP consumers.
He said that the Cash & Gold product has less than one percent infection ratio.
"The NBP has got skill and man power to keep the infection ratio of Gold products much less than a percent", he added.
The Divisional head of NBP said that agriculture is yet another area where NBP demonstrates its national commitment and resolve.
He said NBP leads its counterparts by a huge margin and outreaches approximately more than 250,000 farmers across the country.
"Out of agricultural sector approximate financing need of Rs. 750 billion and with further pie of provided banking finance facilities, NBP is catering approximately 19 percent", Adnan Adil added.
He informed the briefing that the NBP is equally active in catering to Housing Finance through its product Saiban.
He said NBP Saiban is the product having lowest mark-up rate and unmatched product features that a borrower requires.
Adan further said that the bank is also an active player in commercial and SME lending. In SME sector, share of NBP financing out of all banks in the country is 10 percent.
Answering to a question regarding savings criterion of nation, Adnan said that as per State Bank of Pakistan's report of 2011, NBP share to public sector deposit was 75 percent.
To the total deposit of banking industry it was around 14 percent that includes all banking investments.