ZTBL on path to major transformation

ZTBL is country's premier specialized financial institution, playing a pivotal role in the economy through development of agriculture sector. The Bank is maintaining its position as largest supplier of institutional agricultural credit on account of efficient fund management, effective recycling of Bank's recovery proceeds and proper administrative and financial controls.

The six decades of ZTBL history has witnessed highest ever profit before tax of Rs. 17,606 million (Rs. 7,458 million in 2022), with after tax profit of Rs. 10,984 million (Rs. 5,123 million in 2022) in 2023 with EPS at Rs. 2.10 in 2023 as compared to 0.97 in 2022. The credit of Rs.

93 Billion have been extended to over 300,000 farmers during the year. ZTBL remained major participant in PM Kissan Package-2022 by disbursing Rs. 29.5 Billion especially for farm mechanization and flood affected areas. ZTBL has improved its CAR (Capital Adequacy Ratio) to 37.76% which is well above the SBP requirement (11.50%).

It will not be out of place to mention that President/CEO, Mr. Tahir Yaqoob Bhatti, a high profile Banker having over 35 years of rich experience, completely revived Punjab Cooperative Bank Limited in the capacity of President/CEO and also played major part in conversion of Faysal Bank into Islamic Bank, remained part of senior management teams of Askari Bank, Allied Bank & Faysal Bank and chairman, BoD, Mr. Naeemuddin Khan having vast and versatile experience of over 40 years and remained President/CEO of the Bank of Punjab, where he played pivotal role in turning around the Bank, both had assumed the charge of their respective slots at ZTBL during third quarter of 2023. The above phenomenal and record improvements in all KPIs of ZTBL were visibly registered subsequent to said change in management and BoD.

The role of ZTBL in promotion of agriculture sector has helped agriculture sector of the country contributing 22.9% in GDP, employing nearly 37.4% of labor force and a base for other industries which is surely the backbone of country's economy. Subsistence and small farmers, having upto 12.5 acres of land comprising 89% of the total farmers, are the building block of agricultural landscape.

ZTBL is the largest specialized financial institution mandated with extending the agricultural credit primarily to this huge segment of farmers besides providing agro advisory services. To serve the banking needs of farmers, ZTBL strategic presence is characterized at rural, underserved and unbanked areas, covering 482 locations nationwide with branch network of 501 branches. On advisory front, ZTBL reaches at doorstep of farmers through its Mobile Van Service and arrangement of Zarai Baithaks.

The Bank has introduced financing schemes considering the needs of the subsistence farmers aiming to their empowerment which will result into escalation in food security of the country. The Bank also continues its commitment to national schemes like the Prime Minister's Youth Business & Agriculture Loan Scheme and introduces newer initiatives like the Agri. E-Credit Scheme in Punjab, embracing digitalized loan processing for efficient disbursement. These schemes collectively reflect a holistic approach to addressing diverse agricultural challenges and fostering sustainable growth.

Moreover, ZTBL also plays its part in facilitating the society in performance of their religious obligations by helping them in submission of 1106 Hajj applications Hajj-2024.

ZTBL has embarked upon new era of advancement to provide technology based automated 24/7 banking services to the customers enabling them enjoying at their convenience with more liberty.

ZTBL has participated in National Financial Literacy Program of SBP and earned SP appreciation for active participation and management support in National Financial Literacy Program (NFLP). In recognition of the services rendered by ZTBL in promotion of SBP's National Financial Literacy Programme across the country, recently, SBP awarded special performance award of excellence in Financial Literacy (2024). VIS Credit Rating Company Limited (VIS) has reaffirmed entity rating of ZTBL at 'AAA/A-1+' (Triple A/A-One Plus). Outlook on the assigned ratings is Stable.

LTBL acknowledges the unwavering support from the Government of Pakistan, the State Bank of Pakistan, the Board of Directors, and its dedicated staff in achieving these remarkable financial milestones.

ZTBL takes this success as a modest beginning with firm determination to close the year 2024 on a very successful and remarkable note by exhibiting a notable increase in total assets, deposits, recovery and lending activities under challenging economic circumstances and climate change.

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