PICIC Commercial Bank
Encyclopedia
PICIC Commercial Bank Limited is based in Pakistan
. Pakistan Industrial Credit and Investment Corporation
(PICIC) acquired Gulf Commercial Bank Limited in early 2001. The bank has been renamed as PICIC Commercial Bank Limited.
In 1997, Al Ahlia Portfolio Securities Company, Sultanate of Oman acquired the major shareholding and changed Bank’s name to Gulf Commercial Bank
. Thereafter, in February 2001, the Bank’s management again changed when Pakistan Industrial Credit and Investment Corporation
acquired 60% controlling shares from Al-Ahlia and changed its name to PICIC Commercial Bank in May 2001. Since acquisition, the Bank performance has turned around and it's now the fastest growing private commercial bank in Pakistan.
At the time of takeover by PICIC in February 2001, the Bank had only 15 branches. Now it is the 6th largest bank in Pakistan.
On December 31, 2007, the operations of PICIC Commercial Bank were merged with and into NIB Bank Ltd.
(*) Subject to State Bank of Pakistan approval under review test
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
. Pakistan Industrial Credit and Investment Corporation
Pakistan Industrial Credit and Investment Corporation
Pakistan Industrial Credit and Investment Corporation is a financial institution in Pakistan, one of the first Development finance institutions established with the World Bank Group assistance in 1957. In 2007, PICIC Commercial Bank was bought by Singapore's NIB Bank.- PICIC subsidiaries :*PICIC...
(PICIC) acquired Gulf Commercial Bank Limited in early 2001. The bank has been renamed as PICIC Commercial Bank Limited.
History
PICIC Commercial Bank Limited was incorporated in 1993 as Schön Bank Limited and commenced its business on 4 April 1994, with a paid-up capital of PKR 500 Million.In 1997, Al Ahlia Portfolio Securities Company, Sultanate of Oman acquired the major shareholding and changed Bank’s name to Gulf Commercial Bank
Gulf Commercial Bank
Gulf Commercial Bank is an Iraqi commercial bank, headquartered in Baghdad.The bank has 12 branches in Baghdad, Basrah, Najaf, Kerbala, Diwaniya, Babylon and Erbil....
. Thereafter, in February 2001, the Bank’s management again changed when Pakistan Industrial Credit and Investment Corporation
Pakistan Industrial Credit and Investment Corporation
Pakistan Industrial Credit and Investment Corporation is a financial institution in Pakistan, one of the first Development finance institutions established with the World Bank Group assistance in 1957. In 2007, PICIC Commercial Bank was bought by Singapore's NIB Bank.- PICIC subsidiaries :*PICIC...
acquired 60% controlling shares from Al-Ahlia and changed its name to PICIC Commercial Bank in May 2001. Since acquisition, the Bank performance has turned around and it's now the fastest growing private commercial bank in Pakistan.
At the time of takeover by PICIC in February 2001, the Bank had only 15 branches. Now it is the 6th largest bank in Pakistan.
On December 31, 2007, the operations of PICIC Commercial Bank were merged with and into NIB Bank Ltd.
Services
- Commercial Financing
- Home Financing
- Car Financing
- Home Financing
- Telebanking
- Mobile BankingMobile BankingMobile banking is a term used for performing balance checks, account transactions, payments, credit applications and other banking transactions through a mobile device such as a mobile phone or Personal Digital Assistant . The earliest mobile banking services were offered over SMS...
- Motorcycle Financing
- Islamic Banking
- Deposit & Saving Products
Internet banking
As technology advances, PICIC Commercial Bank is set to use it and make the best of it. Now introducing for its customers, Online Banking solutions. With that customers can access their accounts for deposits, withdrawals or inquiries from any branch nationwide.Branches
PICIC has over one hundred and twenty branches in over forty four cities including the main cities and towns of Pakistan.Board of directors
- chief exactive hilal khan
- Mr.Afghan badshah ceor chairman
- Mr. Ahsan Bashir
- Mr. KASHIF BASHIR
- Mr. Muhammad Ali Khoja
- Mr. Sulaiman Ahmed Saeed Al Hoqani
- Mr. Kamal Afsar (*)
- Mr. Manzoor Ahmed (*)
- Mr. Waseem Haqqie
(*) Subject to State Bank of Pakistan approval under review test