State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra while speaking at the launch of the second edition of Pakistan Banking awards has appreciated the role of the banking sector in fueling the economic growth in the country. He also lauded the technology-based services launched by the banking sector.
Wathra also stated that the Banking Awards 2017 should also take into consideration various steps that banks take to increase their presence in neglected areas and remote parts of the country including Balochistan, Khyber Pakhtunkhwa, Gilgit-Baltistan, Federally Administered Tribal Areas and Provincially Administered Tribal Areas along with remote parts of Sindh and Punjab as part of criterion.
Pakistan Banking Awards 2016 were based on the performance of individual banks in spheres of development, customer service excellence and financial performance. The eight categories of awards included Bank the Unbanked Award, Best Microfinance Bank, Best Bank for Small Businesses and Agriculture, Best Bank for Corporate Finance and Capital Market Development, Best Customer Franchise, Best Islamic Bank, Best Environmental, Social and Governance (ESG) Bank and, lastly, the Best Bank of the Year. United Bank won the best bank category in 2016.
Wathra also added that the banking awards must also take into account how actively banks’ promote concessionary schemes launched by the SBP.
The awards are organised by The IBP, Dawn Media Group and accountancy firm A.F. Ferguson and Company.
Habib Bank President Nauman K. Dar pointed out that the criterion for the Best Bank for Corporate Finance and Capital Market Development was not in line with the actual functioning of investment banking in Pakistan.
The SBP governor agreeing with Dar advised The IBP and A.F. Ferguson and Company to consider a bank’s contribution to project financing in relation to its total assets as a criterion also.
Anwar of A.F. Ferguson and Company while commenting on NBP President Saeed Ahmad statement that some banks have the advantage in terms of their size stated that size of the bank was a not the only criterion. Rather the awards are based on results of key ratios. Saeed further stressed that the awards should be rewarded for the improvements that banks make over the year.
Jury members include SBP former governor Syed Salim Raza, former banking ombudsman Azhar Hamid, Pakistan Institute of Corporate Governance CEO Feroz Rizvi, English Biscuit Manufacturers CEO Dr Zeelaf Munir and former regional head of Citibank Middle East and Pakistan Shehzad Naqvi.
