FLASHNEWS:

Bank of Punjab Strengthens Market Position Amid Digital Transformation

Lahore: The Bank of Punjab (BOP) has solidified its market presence through strategic backing from the Government of Punjab, facilitating growth in underserved market segments. This support has enabled BOP to make significant progress in the SME and agriculture sectors, doubling its SME market share to 15.6% in under three years. The bank has focused on small businesses, women entrepreneurs, and rural communities, while also embracing climate-related financing.

BOP's digital transformation remains a core strategic priority, with digital transactions surging by 95.3% since 2022. Currently, 75% of transactions are conducted through digital channels. The bank has introduced innovative offerings, including SME e-Qarza and freelancer accounts, furthering financial inclusion.

Financially, BOP has seen a 10.2% increase in its deposit base, reaching PKR 1,885.1 billion. Current account deposits alone rose by 10.6% to PKR 391.8 billion, now making up 20.8% of total deposits. The bank's profit after tax increased by 41.9% to PKR 11.9 billion, with a notable rise in net interest margin.

The bank's equity base has expanded to PKR 98.2 billion, and its capital adequacy ratio remains strong at 17.43%. BOP continues to explore foreign funding opportunities to sustain its growth momentum.