Karachi: BankIslami Pakistan Limited has successfully completed its expansion target of 2012. The Bank opened 39 Branches/Sub Branches taking its network to 141 Branches/sub branches covering 66 cities, a statement issued here said Thursday.
The statement further said that BankIslami has also received permission from the State Bank of Pakistan to add further 60 branches/sub branches in 2013. This expansion will see the network expand to 200 branches/sub branches covering more than 100 cities.
The second phase of expansion is expected to take the network to 300 branches in next three years covering approximately 150 cities further consolidating its position as the second largest Islamic bank in Pakistan. The Bank further added that expects to report better operating results despite of almost 100% expansion in two years and drastic cut in the policy rates.