The Bank of Punjab provides a range of commercial banking products and services to its diverse clientele in line with their modern banking needs.
The company carries a strong network of online branches spanned across the Country along with ATM network of 706 offering 24/7 banking services to its diverse clientele. The bank's head office is located in Lahore whereas Treasury & Capital Market and Investment Banking are being managed from Karachi.
While having various deposits products, the bank...
The Bank of Punjab provides a range of commercial banking products and services to its diverse clientele in line with their modern banking needs.
The company carries a strong network of online branches spanned across the Country along with ATM network of 706 offering 24/7 banking services to its diverse clientele. The bank's head office is located in Lahore whereas Treasury & Capital Market and Investment Banking are being managed from Karachi.
While having various deposits products, the bank has already established a very strong footprint in the areas of Corporate & Investment, Commercial, SME, Agriculture and Consumer financing products. The Bank TAQWA Islamic Banking operations commenced from year 2013 and is offering a complete range of Shariah compliant products and services to its valued clients. Additionally, the bank is offering credit card, branchless banking, mobile banking, internet banking and cash management services to its clients.
Products & Services
Current Deposits
The company offers the following current deposits:
BOP Tijarat Account is a current account especially designed to cater needs of business individuals, as well as business entities, including but not limited to Proprietorships, Partnerships, Limited / Unlimited Companies, NGOs, NPOs, Trusts, business oriented government / Semi government entity and any legal entity.
BOP Life Current Account is a current account especially designed to cater banking needs of individuals.
BOP Salary Plus Account is a current account designed for salaried individuals working for an organization that is maintaining its salary disbursement account with BOP with a focus on employees of govt/semi govt organizations, their allied corporations, autonomous bodies, and private sector entities.
BOP Youth Education Account is a current account especially designed for young students of schools, colleges and universities up to 30 years of age with additional feature of Education Insurance.
BOP FCY Supreme Current Account is a foreign currency current account available for all customers who are eligible to open Foreign currency account with BOP as per the bank's criteria.
BOP Current Account is a basic current account to cater day to day banking needs of general public, including individuals, partnership, public / private limited companies, trust, not for profit organizations, government and semi government organizations and any type of business entities.
BOP Current Direct Pension Credit Account is a current account opened in the light of Supreme Court's SUO MOTO notice (in year 2007) regarding problems being faced by the pensioners and its subsequent order that pension may be disbursed through all branches of all the licensed banks in Pakistan. BOP Current Direct Pension Credit Account can be opened by any individual pensioner. Purpose of account opening will be specifically mentioned on the AOF as 'Direct Credit of Pension' only.
BOP Basic Banking Account is a current account available especially for customers like students, mustehkeen-ezakat, salary accounts of government and semi government employees, pensioners, widows and children of deceased employees eligible for family pension/benevolent fund grant.
BOP Asaan Current Account is a current account for low risk/low income unbanked/under banked individuals who face difficulties in account opening due to strict requirements/formalities. These segments of society may include but are not limited to self-employed, pensioners, students, farmers, women/housewives, young adult population, work force, etc.
BOP Kissan Dost Current Account is a current account Agricultural Business Solution to cater to banking needs of agricultural sector.
BOP Asaan Remittance Current Account: The company has introduced 'BOP Asaan Remittance Current Account' to facilitate opening of bank accounts by low risk/ low income unbanked/under banked customers for receipt of home remittances directly into bank account instead of resorting to traditional over the counter cash transactions. These segments of society may include but are not limited to skilled/unskilled work force, farmers, less educated/ uneducated people, laborers/daily wagers, women/housewives, self-employed individuals, pensioners, young adult population, etc.
The company also offers BOP GID Business Current Account and BOP FCY Current Account.
Saving Deposits
The company offers various savings deposits, such as PLS Saving Bank Account, BOP Behtareen Munafa Account, Corporate Premium Account, BOP FCY Supreme Saving Account, BOP Young Lions Saving Account, BOP PLS Direct Pension Credit Account, BOP Asaan Saving Account, BOP PLS LG Account, Kissan Dost Saving Account, and BOP FCY Saving Account.
Term Deposits
The company offers various term deposits, such as BOP Bonus Munafa Term Deposit, PLS Term Deposit, and Foreign Currency Term Deposit.
BOP Roshan Digital Account
Roshan Digital Account is a major initiative of State Bank of Pakistan, which provides banking solutions for millions of Non Resident Pakistanis. BOP offers Roshan Digital Account for Non-Resident and Resident Pakistanis (with declared assets held abroad) to invest in Pakistan with ease. Customer can open either Foreign Currency USD/ GBP/EUR or Pak Rupee denominated account, under Conventional Banking and Islamic Banking, with exciting investment opportunities i.e Naya Pakistan Certificates/ Islamic Naya Pakistan Certificate issued by government and Term deposit products/Riba Free Certificates of the Bank.
BOP Khaas Banking
The company offers BOP Khaas Current Account and BOP Khaas Saving Account.
BOP Naaz Account
The company offers BOP Naaz Current Account and BOP Naaz Saving Account.
Bancassurance
Bancassurance means the distribution of insurance products of insurance companies through the bank's distribution channels.
The company is offering under-mentioned Bancassurance Plans: EFU Child Savings Plan, EFU Marriage Plan, EFU Savings Plan, EFU Retirement Plan, and Vitality Plan-IGI Life.
Retail Finance
The company offers Car Lease - CarGar, Residual Value - Auto Financing, Used Car - Auto Financing, Apna Ghar House Financing, Apna Ghar Low Cost Housing Finance, Personal Loan, Consumer Durables, BOP Solar, Carvaan Fleet Financing, BOP Smart Advance Cash, Apna Rozgar Scheme, and Women on Wheels.
Agri Finance
The company offers Kissan Dost Production Loan, BOP Tractor Lease, Kissan Dost Lease Finance Facility, Kissan Dost Cold Storage Finance Facility, Kissan Dost Livestock Development Scheme, BOP Agri Vehicle Leasing, Financing Facility for Storage of Agriculture Produce (FFSAP), BOP Agri Vehicle Loan Bilingual Brochure, BOP FFSAP Bilingual Brochure, BOP Non Farm Loan Bilingual Brochure, BOP Production Load Bilingual Brochure, BOP Tractor Load Bilingual Brochure, and EWRF Bilingual Brochure.
SME Products
The company offers BOP Apni Dokan, BOP Fori Sahulat, BOP Kamyab Karobar, BOP Shamsi Tawanai, BOP Sonay pe Sohaga, and BOP Supply Chain Finance.
Products Offered By Corporate Banking
The company provides project finance; debt syndications and consortium financing; corporate finance; long term/demand finance; working capital finance; letter of credit, contracts and export collection services; FE loans, pre and post shipment export financing; import financing; bills discounting; letter of guarantees; cash management services and etc.; housing and construction finance; advisory services; and hospital finance and employee banking.
Raast - Pakistan First Instant Payment Portal
Raast is Pakistan's first instant payment platform which enables end-to-end digital payments between individuals, businesses and government entities. This is a payment gateway developed by State Bank of Pakistan (SBP). It enables the real-time transfer of money without any transaction fees.
Raast payments are made through an alias, which is linked to the customers bank account number. A mobile number can become a customer's alias, on which payments are directly processed against their linked bank account. This eliminates the need for exchanging lengthy account numbers when making transactions.
Taqwa Islamic Banking
Liability Products
The company's liability products are Basic Banking Accounts, Current Accounts, Profit and Loss Sharing Accounts, Taqwa Rahat Corporate Account, Taqwa Rahat Account, Riba Free Certificates (Term Deposits), Taqwa Asaan Current Account, Taqwa Asaan Saving Account, Taqwa Business Account, Taqwa Meherbaan Certificate, Taqwa Direct Pension Credit Account, Taqwa Asaan Remittance Account, Taqwa Committee Account, Taqwa Kissan Dost Saving Account, and Sadqa Jaari'ah Certificates - SJCs.
Asset Products
The company's asset products are Murabahah Financing, Diminishing Musharakah Financing, Kafalah (Bank Guarantees), Ijarah, Istisna, Running Musharakah, Taqwa Tijarah Finance, and TAQWA SALAM FINANCE.
Digital Banking & Cash Management Services
Digital Banking Initiatives
The company provides E-Banking, Digital Account Onboarding Portal, Security of Digital Payments, BOP Sadqah Jariyah, Whatsapp Banking, Mobile Banking, Debit Cards, Credit Cards, BOP Lahore Qalandars Debit Card, and BOP Contact Center.
Cash Management Initiatives
Some of the key initiatives are as under: Khidmat Card Program for poor & marginalized communities; Disbursement of Scholarships under Punjab Education Endowment Fund; E-Stamping; E-Challans; PESSI; Customized Collection / Receivable Management; Payable Management; Over the Counter Payment Solutions; Hybrid Payment Solution; and BOP-BIZ - Corporate Portal.
Business Segments
Corporate & Investment Banking (CIBG): This includes, loans, project finance, real estate finance, export finance, trade finance, commercial & investment banking, and other banking activities with corporate and public sector customers.
Cards and public sector deposits (CPSD): It includes public sector deposits and related banking services, including home remittances and card related banking services to customers of the bank.
Consumer & Digital Banking (CDB): It includes private sector deposits and loans under retail finance, agriculture customers, small and medium enterprises and financing under government initiatives. Products offered to customers include transport finance, house finance, livestock finance, dairy finance, etc.
Treasury: It includes fixed income, equity, foreign exchanges, commodities, credit, funding, own position securities, lending and repos and brokerage debt.
Islamic Banking (IB): The segment pertains to full scale Islamic Banking operations of the bank.
Others: This includes head office related activities, and all other activities not tagged to the segments above.
Securities
The company's securities are federal government securities, shares, mutual funds and investment trust units, non government debt securities, and foreign securities.
History
The Bank of Punjab was founded in 1989 under The Bank of Punjab Act, 1989 by the Government of the Punjab.
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