History and Overview

Bank’s Vision:

The Banks Vision is to be a leading bank, which would play a positive role to generate economic activities for empowering the people by meeting their financial needs for running a successful business and create employment opportunities.

Bank’s Mission:

The Banks Mission is to develop as a leading Commercial bank in the country by meeting its stated objectives of promoting economic development of the country in general and in the province of Sindh in particular.

Bank’s Core Values:

The Bank’s is committed to upholding its Core Values which are:

• Integrity
• Customer Focus
• Team Work
• Innovation

These principles guide all of its decisions and actions.

Management:

Mr. Muhammad Anwaar is the President & CEO of Sindh Bank. In October 2024, he has assumed the role of President & CEO while he has been part of Sindh bank since November 2022, earlier serving as Deputy CEO of the Bank. He is a seasoned banker with 28 years of diverse experience, both locally and internationally in banks including Union National Bank now, Abu Dhabi Commercial Bank, Al Baraka Islamic Bank, Pakistan, Askari Bank and Bank Makrammah Pakistan.

Led by Mr. Muhammad Anwaar, the Bank has achieved turnaround with historic highs of business and profitability along with continuously improving governance and controls and motivating the Bank’s retail banking team to boost customer deposits.

HR & Training:
Human Resource Development has always remained a major focus area for the Bank. The Bank has three fully equipped training centers in Karachi, Lahore and Islamabad, to cater to the training needs of the different regions. Training provided in diversified disciplines including Retail Banking, Regulatory Compliance, Credits, Islamic Banking, Soft Skills, Personal Development etc. Also under the State Bank of Pakistan’s (SBP’s) initiative on Banking on Equality, the staff has been trained on Gender Sensitivity.

The KPIs of Bank’s are in the following table:

	Actual Dec-2024 (Rs. Million)	Actual Dec-2023 (Rs. Million)	Inc/(Dec) Over Dec-2023 (Rs. Million)
Gross Advances	98,958	77,511	21,447
Advance – Net	72,546	50,623	21,923
Trade Volume	140,069	124,508	15,561
Deposit and Other Accounts	312,718	223,570	89,148
Equity	29,152	24,472	4,680
Profit Before Tax	2,502	657	1,845
Profit After Tax	2,770	2,165	605

 

IT Initiatives:
The bank achieved significant milestone through a technology upgrade by deploying the SD-WAN (Software-defined Wide Area Network) solution in 200 branches and continuing its deployment in the remaining branches.
On the Digital Banking front, the bank has opened more than 600,000 accounts for flood – affected people across multiple districts digitally.
The bank has upgraded the e-stamp system and now serves as the settlement bank for the Sindh revenue Board for Point of sale tax collection via 1Link and 1 Bill Service.
Since November 2024, the bank has started issuing Benazir Hari Card on behalf of Government of Sindh.

Bank’s Entity Rating:
Sindh Bank’s current medium to long term entity rating, assigned by VIS Credit rating company has been upgraded- the long-term entity rating to AA- (Double A Minus) from A+ (Single A Plus) and short-term rating to A-1 + ( A-One Plus) from A-1 ( A-One) in its report dated June 28, 2024.

Bank’s Innovations:
Sindh Bank is aware of its Corporate Social Responsibilities, is serving the marginalized segments of population, and continues to support multi-sectoral initiatives in health, education and community welfare that encourage financial inclusion.
The Bank has facilitated 43 thousand beneficiaries of GOP’s Benazir Income Support Program and disbursed Zakat to another 105 thousand people on behalf of Government of Sindh, Zakat & Usher Department.

Sindh Bank Products and Services:

Sindh Bank offers a diverse portfolio of products and services. Here is a closer look at some of the offerings:

Sindh Bank Products:

1. Nasheman Home Finance Loan: Tailored to assist individuals in purchasing or constructing their homes, providing flexible repayment options.
2. Auto Finance Loan: Designed for those looking to purchase vehicles, offering competitive rates to make the car ownership more accessible
3. Sukoon Salary Personal Loan: A personal loan specifically aimed at salaried individuals, providing them with additional financial support for unexpected expenses.
4. Agriculture Loans: Catering to farmers and agricultural businesses, these loans support farming activities, equipment purchases.
5. Solar Finance Facility: Designed to meet the needs of all the customer segments, promoting sustainable energy solutions for both individuals and businesses.
6. Savings Accounts: Encourages customers to save money while earning interest, ideal for both short-term and long – term goals.
7. Current Accounts: Designed for businesses and individuals needing to manage frequent transactions.
8. Women Empowerment Account: Focuses on promoting financial independence for women, offering benefits tailored to their specific needs.
9. Mohtarma Account for Women: A specialized account for women providing unique advantages to enhance women’s financial security and independence.
10. Young Talent Account: Created for children to encourage saving from a young age, often with benefits that grow as they reach certain milestones.
11. Different Deposit Schemes:Various options to help customers grow their savings with attractive interest rates and terms tailored to different financial goals.
12. Small and Medium Enterprises (SMEs):The bank provides financial solutions to help SMEs grow and thrive in the competitive market.
13. Assan Account: Aimed at general populace, this account is accessible to both men and women, promoting financial inclusion.

Sindh Bank Services:

1. Home Remittance Services: Partners with vendors like Western Union, MoneyGram and Ria for secure and easy receiving of money from abroad.
2. Digital and Internet Banking Services: Offering modern banking through SMS Banking for convenient access to services.
3. 24/7 Call Center Facility: A dedicated support service that ensures customers have access to assistance at any time of the day.
4. Locker Services: providing a safe and secure way to store valuables with options for small, medium, and large lockers.
5. Debit Cards: Offering convenience and security with UnionPay and VISA debit cards for easy access to funds.
6. Islamic Banking Products: The Bank also offers a range of Islamic Banking options, including auto finance, home finance, and personal loans, aligning with Sharia – Compliant principles.
7. Mobile App: Available on both the Apple App Store and Google Play Store, providing easy access to banking services on the go.

Sindh Bank’s comprehensive product and service offerings reflects its commitment to serving a wide range of customer needs and promoting financial well-being across communities.

In December 2022, under the State Bank of Pakistan’s initiative on Banking on Equality (BoE), the bank has launched women centric products- Mera Ghar Home Finance, Meri Ghari Auto Finance and Azadi Salary Personal Loan, Haya Assan Current & Saving and Haya Digital Account.

Social Media Platforms:
The Bank promotes its products through its independent social media platforms, Facebook, Instagram & LinkedIn- utilizing marketing and advertising strategies. Additionally, campaigns are conducted on these platforms to raise awareness. Furthermore, each branch features marketing materials to inform customers about available products.

Future Outlook:
The Bank and its management is determined to maintain its focus on the following major goals in the coming period:

• Conversion of Sindh Bank into Islamic Bank
• Recovery and Reduction of Non-Performing Loans
• Focus on Current Account Mobilization Schemes
• Increase of Consumer, SME and Commercial Business
• Training and Development of Staff
• Strengthening the Risk and Control Environment