20000216

ABL further reduces mark-up

on advances

PESHAWAR: Allied Bank of Pakistan (ABL) has further reduced the rate of mark-up on advances with immediate effect. This was disclosed by Bilal Mustafa, Provincial Chief of ABL, NWFP and Azad Kashmir while addressing the circle executives conference held at Mardan the other day. The conference was attended by all circle executives and recovery chief from NWFP and AK.

Bilal said that the bank has taken various steps to strengthen the national economy. He said that last year the mark-up was reduced by 2 percent while now the bank has further reduced it by 2 percent.

The main purpose of the step is to provide opportunities to the industrialists, traders and business community to avail financial assistance from the bank to improve the economy. He said that financing portfolio of ABL has been reorganised, and now the process has been simplified so that clients should not face any difficulties.

He informed that long ques of utility consumers has been viewed seriously and the bank has opened special booths and counters to collect the utility bills of gas, telephone and lighting to speed up the bills collection.

He advised the participants to visit their branches regularly. He also said that customer assistance desks have been established in the branches. He appreciated the tremendous results achieved under the short period deposit campaign, and termed it the customers confidence reposed in ABL.ÑPR