The Board of Directors of The Bank of Punjab convened on August 24, 2023, to review and approve the un-audited Financial Statements for the 1st Half of the year ending on June 30, 2023.
During the meeting, the Board assessed the bank’s performance and expressed satisfaction with the overall financial results achieved amidst the current operating landscape.
They particularly appreciated the performance with respect to capital enhancement and building core revenues of the bank during the first half of the year, and being number one mid-sized bank in Agricultural Financing and number one bank across the industry in Banking on Equality, as per the evaluation criteria of SBP.
Throughout this period, the bank effectively executed chosen strategies to ensure consistent growth and stable earning streams. As of June 30, 2023, the bank’s Balance Sheet Size exceeded the Rs. 2.0 Trillion milestone, positioning it as one of the newest entrants into the industry’s Large Banks.
Consequently, Total Assets exhibited a year-on-year (YOY) growth of 64%. The Bank’s Deposits also surged to Rs. 1,370 billion, reflecting a noteworthy YOY growth of 33%. Moreover, the bank’s CASA Deposits reached Rs. 889 billion, marking a YOY growth of 22%. Loans & Advances stood at Rs. 907 billion, indicating a substantial YOY growth of 59%. Similarly, Investments & Lending to FIs surged to Rs. 923 billion, displaying a significant YOY growth of 65%.
