Authorities review overall progress of State~run BoAJK

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Altaf Hamid Rao.


MIRPUR (AJK),  (Parliament Times) :  To evaluate the overall business performance of Regions, Zones and Branches of the State~controlled BAJK for the period January-September 2020, a Business Review Meeting was held in the State metropolis on Sunday with Khawar Saeed, President/CEO Bank of Azad Jammu & Kashmir in the chair, it was officially said.

The Bank’s Divisional Heads, Regional Controllers and Zonal Chiefs of the Bank.

The President expressed his gratitude to all the participant about the unpresented business results for the first half of the year 2020, detail of which is as under:

The profit increased from Rs.12.00(M)in June 2019 to Rs.168.00(M) in June 2020 which is the highest ever in the bank’s history. In percentage terms, the growth in the profit is 1263%.

The total deposits of the bank in 2019 were Rs.11.87 (B) which increased to Rs.14.50 (B) during the succeeding half of the year 2020. This figure is the highest ever since the establishment of the bank. In percentage terms the growth in deposits is 22%.

Similarly, the figure of Home Remittances which was Rs. 373.00(M) as on June 2019 has jumped to Rs. 1.00(B) at the end of June 2020. The growth in Home Remittances is also another record, reflecting 173%.

The value of the bank’s share as on June 30, 2019 was Rs.0.13 which was increased to Rs.0.80 at the end of June 2020. The phenomenal growth is again the hallmark of the year 2020. In percentage terms, the growth in the value of the bank’s share comes to 515%.

From the above unprecedented business growth in a short span of time speaks itself of the implementation of aggressive marketing strategies, driving the field force towards tapping every available opportunity and potential through timely delivering of quality services and building new customers contacts.

During the business performance review meeting, the regions and zones gave presentations for the quarter ended 30.09.2020 and their commitment for achievement of target of the year 2020. The Management appreciated the efforts of the field functionaries who have achieved the major KPIs at the end of September 2020. The overall financial results of the bank for the quarter ended 30.09.2020 also remained highest ever in the history of the Bank.

The president appreciated the efforts of the divisional heads and their staff at head office, the regional controllers and zonal chiefs and the field functionaries in achievement of exceptional results in the quarter ended 30.09.2020.

The President emphasized that the field functionaries should move with the same spirit and excel the target set for the year 2020 through hard work, dedication and provision of effective, cordial and quality service to the customers. He advised all the participants to adopt measures to cultivate a sense of ownership among them. The bank will encourage them through appreciations/awards on their achievements so that a healthy working environment and merit-based culture is developed. Ends

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