LAHORE: Habib Bank Limited (HBL) would raise its branches from 300 to 600 by the end of this year, said HBL President Zakir Mahmood on Tuesday.
He was talking to the newsmen at the road show to offer sale of HBL shares. He said HBL was also planning to introduce its credit cards to provide benefits of e-banking to its customers. HBL is a bank with a huge number of branches in rural areas. HBL aims to provide latest and best facilities to its customers, he added.
Responding to a question, Mr Mahmood said the offered price of the share was calculated after taking into account the market situation and the performance of the bank. He said the sale of 51 percent shares of the bank to Agha Khan Fund for Economic Development (AKFED) was made a few years ago in line with the market situation at that time.
To a question on agricultural credit, Mr Mahmood said the volume of agricultural credit has risen. Agriculture credit a few years earlier was around Rs 5 billion but in 2006-07 it has come at Rs 19 billion.
Earlier an official of the Privatisation Commission, while giving a presentation at a road show said that 34.5 million shares of the bank with a green shoe option of 17.3 million shares in case of over-subscription are being offered to the general public.
Ismailimail 