Tarin shares strategic global banking vision

Staff Reporter

KARACHI: Silk Bank held a Meet the Press event at a local hotel in Monday. The reason for holding this event was to announce the half yearly brilliant results of the bank gathered for this year 2017.
Shuja Alvi, Head of Investment Banking gave a brief overview on the banks performance and highlighting and showcasing Silk Bank growth in the time to come.
In Q & A Session, Shaukat Tarin (Adviser to the Chairman) spoke about the laurels the bank had achieved in a very short stint of time. Shaukat also spoke about the changing banking trends of not only in Pakistan but predicted the global scenario and emergence of digital banking in the world.
He discussed the Silk Bank performance and said its role in providing cutting edge solutions for all its customers after passing through the period of investment.
He also mentioned Silk Bank's business momentum will get further augmented by the addition of 35 new branches this year. The new branches are expected to contribute significantly to further growth in low cost deposits.
The Bank's newest initiative is the launch of the digital banking. Digital Silk has already been soft launched for the employees and is expected to be a game changer. Like credit cards the offering is not dependent on a branch distribution network. Digital Banking has the ability to reach a much wider market segment, generating low cost deposits and enable the bank to leap frog growth. 
He pointed out about the reduction of 10 billion in non-performing loans. He emphasized to develop the Merchant Network that's why there is only 1.4 million credit card holders. He also shared his experience about Pakistan Banking industry which is doing business of risk free assets by government business and expansion in consumer and housing finance is highly needed that we are facing the acute shortage of 04 million houses every year. Silk Bank is planning for its growth in diversified business portfolios but having main focus in Islamic Banking.