The economic growth in the country had contributed to Faysal Bank's profitability and as the outlook is positive it will increase the bank's growth further, said Aijaz Rahim, SEVP, Faysal Bank.
Talking to 'AAJ markets', he said that the bank is concentrating on expanding its branch network internationally. Dubai is on top of the list. Besides, Bangladesh, Sri-Lanka and Sudan are also under consideration.
He said that focus on raising longer term deposits by offering higher return and placements on medium to longer term is also under consideration. The Bank is planning to issue TFCs worth Rs 2 to Rs 5 billion, besides a project in Islamabad in collaboration with other banks.
The projected profit is 100 percent. Bank's aggressive approach to expand in to the new areas will continue. Faysal Bank, he said, provided advisory services to Ibrahim Fiber for bidding of Pak-American Fertiliser Co and that it would also services the entity in generating Rs 20 billion.
Besides, the bank is also working on a 7-year, $50 million bond issue for a customer in Dubai. Overall, he said, the economic outlook in the country is positive and that will continue to support the banking sector.
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