February 18, 2006
Ms. Zarine Aziz , First Women Bank Ltd. (FWBL) called on Dr. Salman Shah, Adviser to the Prime Minister on Finance, Economic Affairs, Revenue and Statistics in his office. Finance Secretary along with senior officers of the Finance Division were also present on the occasion. The President of FWBL apprised the adviser about the performance of the bank over the last five years. She informed that over the last five years the advances of the bank have increased by 315%, Non performing Loans have been reduced by 60%. Recovery rate of NPLs has improved by 19% and deposits have increased by 156%. She also informed that accumulative net profit before tax from 1989 to 2000 was Rs. 20 million whereas for five years from 2001 to 2005 it is Rs. 951 Million.
Adviser expressed his satisfaction with the performance of FWBL over the last five years (2001 to 2005) and assured full support of the government to the bank. The Adviser also indicated that IFC would be conducting an advisory study to identify a road map for financial and operational restructuring of the bank.
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