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Thursday, February 15, 2024

Asiamoney Awards 2020: JS Bank wins “Best Bank for SME” award!

JS Bank has improved its capacity and capability to provide financial support to small and medium-sized enterprises. No wonder why it has won the best bank for SME award at Asia Money 2020. The Bank’s overall SME client roster has also increased to 22,000, approximately.

JS Bank has claimed its space in the international finance stratosphere. While reflecting Pakistan’s growing stature, it won the awards for ‘Best bank for SMEs’ and ‘Best bank for CSR’ at the Asiamoney Awards 2020. In fact, JS was the only Pakistani bank to win two awards at the platform – which itself is a shining victory. The Bank also won the Asiamoney Best Bank for SME award in 2019.

2019 was a year of growth and development at JS Bank. While not amongst the largest banks in Pakistan, JS Bank is amongst the top three when it comes to lending to small and medium-sized enterprises (SMEs). The Bank’s overall SME client roster has increased to approximately 22,000 with parallel business portfolio growth. Under its President and CEO, Basir Shamsie, the Bank has focused on supporting entrepreneurship in the female and differently-abled persons spaces.

In the past year, JS Bank became Pakistan’s first and only financial institution to be accredited by the Green Climate Fund, a global fund working towards countering climate change. Owing to this fund, the bank can now apply for funding of up to $250 million per project.

Moreover, it also became fully compliant with the State Bank of Pakistan’s green banking guidelines and took a lead in Pakistan’s solar power market. Through that, the bank financed more than 120 projects for commercial, residential and agricultural purposes.

“We at JS Bank strive to build value for the customers and communities we serve. We are humbled by the appreciation and will continue to build and introduce offerings that meet market needs.” said Basir Shamsie, President and CEO, JS Bank. “I thank our customers for their continued support and my team for their efforts without whom none of this would have been possible.”

Read more: JS Bank becomes the first bank to promote social distancing!

Committed towards its role as a catalyst towards the progress and prosperity of Pakistan, the Bank hopes to continue this journey of impact by providing a variety of innovative conventional and digital solutions in the years ahead.

Background on JS Bank

JS Bank is one of the fastest-growing banks in Pakistan, with 360 branches in 180 cities including one international branch. The Bank is a leader in the digital banking space and distribution of insurance solutions.

The bank has been recognized on multiple international and national forums including the prestigious AsiaMoney, Asian Banking and Finance, DIGI and Pakistan Banking Awards. The Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups.

What deserves an honorary mention is that the bank it became fully compliant with the State Bank of Pakistan’s green banking guidelines. Thereby, JS Bank is the only bank in Pakistan to have a certified green office. It believes in leading by example, thereby introducing carbon reduction measures in its own operations.

They executed this by making certain changes in their working model. This includes measuring energy and paper consumption, increasing use of solar power and automating more of its processes to reduce documentation.

Read more: JS Smart Roshni: Lighting Pakistan one solar panel at a time!

Hence, they establishing an internal environmental and social risk management framework to create awareness around those risks associated with lending. This shows great responsibility taken by the corporation and sets a terrific example for more to follow.