Categorie: IPO / Secondary Offering
Submitted over 2 years ago by
Xpertwriter
, CEO At E-HostingJunction.com
at Spectrum Resumes , Inc
The Bank of Punjab was established in 1989 under the Bank of Punjab Act 1989. The bank provides commercial banking and related services in Pakistan and the Azad Jammu and Kashmir, with a special emphasis on agricultural sector. The bank, through its wholly owned subsidiary, Punjab Modaraba Services (Private) Limited, also conducts modaraba operations. Its major customer is the government and the other customers are various public sector organisations including textiles, real estate, transport, agriculture, financial institutions and individual customers.INDUSTRY: The year 2007 was proved to be a volatile year for the banking sector in terms of profits. Every quarter showed a different picture as shown in the graph below:The overall profits declined by 5.6% in 2007. The fourth quarter of the banking sector did not perform well. Banking sector till the end of HY07 depicted a growth of 53.2% in profits. But in the start of 2HY07, the SBP proposed full provisioning against the non performing loans (NPLs) and withdrew the facility of forced sales value (FSV). Consequently, the banks had to make additional provisioning against their NPLs.If quarterly performance of the banking sector in FY07 is analysed, the graph shows a mixed trend. The total profitability improved from the first quarter to second quarter but after an amendment in SBP's regulation regarding NPL and FSV, total profitability decli...
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Submitted over 2 years ago by
Xpertwriter
, CEO At E-HostingJunction.com
at Spectrum Resumes , Inc
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