BoP to provide Rs 250m soft loan to PEF

The Bank of Punjab (BoP) has allocated an amount of Rs. 250 million for the distribution of soft loans among the eligible schools partnered with the Punjab Education Foundation (PEF) under Foundation Assisted Schools (FAS) and New School Program (NSP). For this purpose, a Memorandum of Understanding (MOU) was signed between

The Bank of Punjab and Punjab Education Foundation at BoP Tower, Gulberg on Monday. Besides BoP President Naeemuddin Khan & PEF Chairman Raja M. Anwar who signed the MOU on behalf of their respective organizations, the agreement signing ceremony was also witnessed by MD PEF Ms. Ambreen Raza, DMD (F) Salman Anwar Malik and BoP Chief Manager Tariq Aziz.

PTCL introduces BoP to MPLS network

Pakistan Telecommunication Company Limited (PTCL) and Bank of Punjab (BoP) have finally inked an agreement to cater for their entire branches connectivity through state of art IP MPLS (Multi Protocol label Switching) service over physically and geographically redundant network. This will help the BoP for their multi application connectivity in secure, reliable and cost-effective manner.

This agreement will allow Bank of Punjab to carry out its online core banking transactions in a secure, faster and cost effective manner. The MPLS service provided to Bank of Punjab is fully flexible to meet the ever increasing demand of bandwidth due to multiple applications securing over the same network. MPLS can also provide the different Classes of Service (CoS) as per customer’s requirement such as voice, video and data traffic.

Bank of Punjab to Open 11 New branches

The Bank of Punjab has recently got permission from Banking Policy and Regulations Department, State Bank of Pakistan to open 11 Branches at new locations across Pakistan in 2011.

Though we have been submitting a yearly request to SBP however apart from 2007, when we were issued five new licenses, our requests to open new branches were declined by SBP. This is indeed a welcome change in SBP policy which is due to number of positive initiatives taken by the Management.

BoP declares 32.5pc dividend

The board of directors of Bank of Punjab in a meeting on Wednesday announced stock dividend of 32.50 per cent for its shareholders for the year 2006 as the bank earned a pre-tax profit of Rs4.8 billion.

In the meeting, audited accounts were presented to the board, which approved it. The accounts revealed that the bank earned 51 per cent higher profit in 2006 compared to 2005.

It recorded after-tax profit of Rs3.8 billion, which was 62 per cent higher than 2005. Similarly, earning per share was Rs13.14 against Rs8.13 recorded a year earlier.