June 02 - 08, 2008

LAHORE: Zari Taraqiati Bank Ltd (ZTBL) has planned to establish 200 online branches by June this year, for the benefit of the clients and improving efficiency of its staff.

A spokesman of the bank told PAGE that the bank has already opened its online branch that would also improve the processing of internal working of the bank, preparing vouchers, besides facilitating clients in obtaining loans, information including mark-up and payments, recovery within no time.

He said that gradually the online network of the bank would be extended to other parts of the country including Southern Punjab for benefit of farming community and other stakeholders. The introduction of online system in the bank would also help in transmitting the needed data to State Bank of Pakistan (SBP), he said.

The spokesman said ZTBL's online branch operations will ensure real time data availability to the bank management for efficient and good governance decisions. The Bank is using state-of-the-art technologies to enable all branches to work online. By the end of June, 2008 more than 250 branches and Zonal would be provided computer and related equipment.

Moreover, sources in the Habib Bank Limited (HBL) said the bank is one of the major banks extending liberal loans to textile sector and our cooperation would continue to facilitate this sector.

Textile sector was the mainstay of national economy and it was experiencing drastic changes at global level and we have to adjust ourselves to remain competitive internationally in spite of internal and local handicaps, analysts say. They said that inflation was the outcome of the global situation and it was detrimental to the developing economies.

About increase in LC (Letter of Credit) margin, they said that it has not been levied on cotton and textile related machinery. Hence, it would not affect the textile sector.

They said that export and agriculture are vital for economic growth and the banking sectors should have to take care of all other segments of national economy along with textile sector.

It may be mentioned that the HBL has 1450 branches with on-line activity and efforts have been expedited to train the manpower to make full exploitation of these facilities.