''Azad Jammu and Kashmir (AJK) President Sardar Masood Khan has said the Bank of Azad Jammu and Kashmir is playing an important role in the socio-economic uplift of the liberated territory and its excellent performance showed that it has a shining and bright future.
Speaking during his visit to the head office of the Bank of Azad Jammu and Kashmir in the State metropolis, he assured the fullest cooperation of the state government in turning the bank into a profitable and first rank financial institution, according to the AJK President office Wednesday evening.
Chief Executive Officer (CEO) while briefing the President about the one-year performance and the future strategy of the bank, told that in 2019, the profit of the bank had fallen to 134 million rupees. However, in 2020, the profit touched a record of 301 million rupees. The deposits of 11.87 billion rupees in 2019 rose to 13.70 billion rupees in 2020, he added.
The remittances of the bank 863 million rupees in 2019 also increased to 2.86 billion rupees in 2020. In this way, profit, deposits and remittances remained highest in 14 years history of the bank.
The state president was also told that the bank had provided loans of 2.4 billion to the people during the year 2020. Appreciating steps taken by the top management of the Bank of Azad Jammu and Kashmir, Sardar MasoodKhan said that the government would provide all possible cooperation to the bank. On this occasion, the AJK State President opened his personal account in the Bank's main branch in Muzaffarabad, and also visited different parts of the complex.
Earlier on his arrival at the head office of the bank, the state president was received by the bank’s staffers including President and Chief Executive Officer and other executive staff.
The Chief Executive Officer thanked the President for the special visit of the Head of the Bank and said that the visit of the President was an honour for the Bank.
The visit of the President will encourage the staff of the bank f. He expressed his determination that the Bank of Azad Jammu and Kashmir would continue to perform well in future.