Lahore: The Bank of Punjab, supported by its principal shareholder, the Government of Punjab, continues to solidify its position in the financial sector through strategic initiatives and digital transformation. The backing from its public-sector owner has enabled the Bank to expand into high-impact market segments and participate in development-focused initiatives across agriculture, small and medium enterprises (SMEs), and financial inclusion.

The Bank has significantly increased its SME market share to 15.6%, up from 6% in less than three years. This growth is attributed to targeted initiatives that support small businesses, women entrepreneurs, and rural communities. The Bank has also prioritized climate-related financing and digital transformation, achieving a 95.3% surge in digital transaction volumes since 2022.

Noteworthy digital services include SME e-Qarza, freelancer accounts, and government-backed initiatives like the Kissan and Livestock Cards. These offerings underscore the Bank's commitment to modernizing service delivery and enhancing financial inclusion.

The Bank's financial performance remains robust, with a 12.5% increase in its deposit base during CY24, reaching PKR 1,710.3 billion. This growth is partly due to a 24.3% rise in current account deposits. Additionally, the Bank's profit after tax increased by 17.9% to PKR 13.4 billion, supported by a 50.6% rise in non-markup income.

Moving forward, the Bank continues to explore foreign funding opportunities while maintaining a stable and growing deposit base. Its conservative lending approach is reflected in the decline of the advance-to-deposit ratio to 45.4%. The Bank's equity base also increased to PKR 92.5 billion, while the capital adequacy ratio stood at 17.93%.