ISLAMABAD: Muhammedmian Soomro, Chairman Privatization Commission (Ministry of Privatization Government of Pakistan) appreciated First Women Bank Ltd (FWBL) management's efforts in achieving tremendous growth in all key financial indicators during the last one and half year despite major challenges. He was talking to FWBL Management during a visit to FWBL Head office Karachi.

Earlier, highlighting the performance of the bank, FWBL President & CEO Naushaba Shahzad stated that the bank has shown volumetric growth in deposits and earning assets. The current management had taken various initiatives including, expansion of trade based business through onboarding investment grade corporates and high performing SMEs. The bank focused on reducing its funding cost, rationalizing cost structure, expansion of retail customer base, re-branding its corporate image and launched internet banking and relocated key corporate branches.

As a result, the bank's deposits and advances surpassed 30 years' history. This financial turnaround is the result of determination, grit, teamwork and our collective belief in the institution, she stated.

The Privatisation Commission Board Members Ashfaq Tola, Khurram Shahzad, Zafar Subhani, Jameel Ahmed, and Shahid Raza, and Nauman senior consultants also attended the meeting.-PR

Copyright Business Recorder, 2020