Washington D.C, May 14, 2024 – Bank of Punjab, a leading SME focused bank from Pakistan has joined the SME Finance Forum as the global membership network’s latest member. The 300+ members/affiliates of the Forum are SME financing experts operating in 190 countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.
“SME Finance Forum proudly welcomes leading SME focused bank from Pakistan to our network. With $7.9 billion in assets and 815 branches across the country, BOP stands as a key player in SME banking, earning the accolade of ‘Best SME Bank in Pakistan’ at the 2024 Global SME Banking Innovation Awards, AsiaMoney 2023 Awards, and Pakistan Banking Awards 2022 & 2023. It is with great pleasure I welcome BOP to SME Finance Forum which is in line with our strategy of onboarding leading SME banks in emerging markets for impact. As I learnt during my recent discussions, BOP is at the forefront of implementing innovative practices in data usage, sustainability, digital and Agriculture solutions and there are impactful aspects BOP brings to the foray. We also look forward to migrating global best practices to BOP engaging our network of over 300+ members/affiliates for the bank to scale quickly and effectively in a market where ~ 7% of SMEs can finance their business needs through formal banking channels. BOP leadership team has been highly engaged and this promises to be an exciting collaboration”, said Qamar Saleem, Head of SME Finance Forum.
The Bank of Punjab (BOP) was established in 1989 and was declared as a scheduled bank by State Bank of Pakistan (SBP) on 19 SEP 1994. The Bank of Punjab has a growing network of 780 branches including 140 Islamic, 16 sub branches and 40 Islamic banking windows. Apart from state-of-the-Art DigiBOP Internet and mobile banking facilities, it has a host of branchless banking agents across the county. The bank also has a network of 706 ATMs. Being a progressive commercial bank and in line with modem banking needs, BOP offers a wide range of products and services to its diverse client base. The Bank has established a strong footprint in the areas of Corporate & Investment Banking, Commercial, SME, Agriculture and Consumer Banking. Moreover, it is working closely with the Government of Pakistan. Government of Punjab and SBP to promote Financial Inclusion. As Digital banking has become the cornerstone of a delightful customer experience, BOP is coming up with innovative digital products and is serving customers through Alternate delivery channels.
“As we embark on this journey with the SME Finance Forum, we're excited to enhance our commitment to empowering small and medium enterprises. Together, we'll leverage innovative financial solutions to create impactful opportunities for entrepreneurs and drive sustainable growth and foster economic development,” said Mr. Zafar Masud, President & CEO of Bank of Punjab, Pakistan.
SME Finance Forum: Innovation & Partnership for MSMEs Growth
The SME Finance Forum, backed by G20 and IFC/World Bank, is the leading global network of 300+ members/affiliates operating in 190 countries. Network comprises of SME focused institutions providing and enabling finance and services- banks, non-banks financial institutions, fintech, payment platforms, development institutions, credit guarantee companies, insurers, investment funds, supply chain linked players, banking and SME associations, policy advocates, regulators, academia, consulting houses, knowledge aggregators.
Our member, affiliates, and associated stakeholders benefit from learning/replicating best practices from across the world, innovating new products for business growth, acquiring risk mitigation tools, establishing partnerships, attracting investors, and being recognized amongst a peer group of global innovators. Our products consist of “members only” solutions (like innovation hubs, solutions clinics, peer group networks, study tours, specialized tools and trainings, member portal repository, partnered initiatives) as well as public good services (200+ publications library, 500+ videos, webinars, newsletters, trainings, annual awards, annual event etc.)
Discover the SME Finance Forum members/affiliates:
https://www.smefinanceforum.org/members/member-list
https://smefinanceforum.org/about/partners
About Bank of Punjab
The Bank of Punjab (BOP) was established in 1989 and was declared as a scheduled bank by State Bank of Pakistan (SBP) on 19 SEP 1994. The Bank of Punjab has a growing network of 780 branches including 140 Islamic, 16 sub branches and 40 Islamic banking windows. Apart from state-of-the-Art DigiBOP Internet and mobile banking facilities, it has a host of branchless banking agents across the county. The bank also has a network of 706 ATMs. Being a progressive commercial bank and in line with modem banking needs, BOP offers a wide range of products and services to its diverse client base. The Bank has established a strong footprint in the areas of Corporate & Investment Banking, Commercial, SME, Agriculture and Consumer Banking. Moreover, it is working closely with the Government of Pakistan. Government of Punjab and SBP to promote Financial Inclusion. As Digital banking has become the cornerstone of a delightful customer experience, BOP is coming up with innovative digital products and is serving customers through Alternate delivery channels.
Website: https://www.bop.com.pk/BoP