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Wednesday, September 20, 2023

JS Bank proclaimed as ‘Pakistan’s Best SME Bank’!

Even amidst a global pandemic, JS Bank has found every opportunity to sustainably accelerate its growth in the financial community. Their efforts were awarded at the Asian Banking & Finance Retail Banking Awards, 2020; whereby they achieved the title of 'Pakistan's Best SME Bank'.

Echoing its presence in the international finance stratosphere, JS Bank has been declared as Pakistan’s Best SME Bank at the Asian Banking & Finance Retail Banking Awards, 2020. This is the second consecutive accolade for JS and a remarkable reflection of Pakistan’s growing stature. These Awards bring together banks from across Asia to recognize groundbreaking products and services.

JS Bank has consistently ranked amongst the top three in lending to small and medium-sized enterprises (SMEs). During 2019, the Bank’s overall SME client roster increased to approximately 22,000. Subsequently, they partnered with several leading institutions to create self-employment opportunities for thousands of clients through innovative financial solutions. President and CEO, Basir Shamsie, has enabled the organization to support entrepreneurship in the female and differently abled persons spaces.

Asiamoney 2020 also recognized these initiatives of JS Bank. Earlier this year, JS was the only Pakistani bank to win two awards at the platform – namely, Best bank for SMEs and Best bank for CSR.

Even CEO Shamsie has firm belief in supporting Pakistan’s SME community. “For us, SMEs are the heart of economic growth. By building this sector, we are working towards building Pakistan’s future. We are humbled by the appreciation and thank our valued clients for their continued support and patronage, without whom none of this would have been possible”

“As we have seen in this year’s winners, banks were still able to navigate and up their game even during the pandemic. We are looking forward to seeing how they will continue to provide the best service to clients in spite of these very difficult times” said Tim Charlton, publisher of Asian Banking & Finance magazine.

Read more: JS to enable COVID-19 research for pregnant women at ICCBS

JS and its achievements so far

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 this, “Pakistan’s Best SME Bank’ has financed more than 120 projects for commercial, residential and agricultural purposes.

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.

Multiple international and national forums have recognized JS and its excellence. These include 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.

Read more: Another milestone for JS Bank as deposits reach monumental $2.3 Bn mark

The bank became fully compliant with the State Bank of Pakistan’s green banking guidelines; and this deserves an honorary mention. Hence, 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.

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.