Faysal Bank of Pakistan
President & CEO Chairman
Naved A. Khan Syed Naseem Ahmad
Board of Directors
Lt.Gen.
Muhammad Maqbool (Retd)
Hassan Mohammed Mahmood Hassan
Graham Roderick Walker
Farooq
Rahmatullah
Mohamed A. R. Hussain
Shahid Ahmad
History of Faysal Bank
Faysal Bank Limited was incorporated in Pakistan
on October 3, 1994, as a
public limited company under the Companies Ordinance, 1984. Currently, the
Bank's shares are listed on the Karachi,
Lahore and Islamabad Stock
Exchanges. Faysal Bank is engaged in Commercial, Consumer, Corporate and
Islamic Banking activities. The Pakistan Credit Rating Agency Limited (PACRA)
and JCR-VIS Credit Rating Company Limited have determined the Bank's long-term
rating as 'AA' and short term rating as 'A1+'
Following the acquisition of RBS Pakistan, Faysal
Bank’s footprint has expanded to over 245 branches, with combined business
assets of over PKR 250 billion, further strengthening its balance sheet and
placing it amongst the top ten banks in Pakistan.
Faysal Bank’s ambition is to provide par excellence service for its customers
while meeting all their financial needs.
Group Information
Ithmaar Bank B.S.C. (stock code
"ITHMR") is licensed by the Central Bank of Bahrain
and listed on the Bahrain Stock Exchange and the Kuwait Stock Exchange. It has
a paid-up capital of US$598 million, total equity of US$1.1 billion and is a
full service investment bank with its direct business covering the Middle
East and North Africa (MENA) region, as well as South
Asia, Asia-Pacific and Europe. Besides
holding significant investments in the banking and financial service sectors in
different markets, the main direct activities of the Bank include underwriting
(equity and other financings), private equity (structuring, participation and
portfolio management), Islamic financing and advisory services covering project
financing, investments, capital markets and mergers & acquisitions.
Ithmaar Bank's flagship subsidiaries and associates include Shamil Bank of
Bahrain (headquartered in Bahrain), Ithmaar Development Company, Faysal Bank
Limited (Pakistan), Faisal Private Bank (Switzerland), Sakana Holistic Housing
Solutions, Solidarity (an Islamic insurance company), BBK B.S.C., Bahrain based
First Leasing Bank, and Ithraa Capital (Saudi Arabia). For more information on
Ithmaar Bank, please visit the Bank's website at
www.ithmaarbank.com..
Our Vision & Mission
Excellence in all that we do
To excel in providing innovative,
value based banking solutions to meet changing needs of customers and to
strengthen the image of trust and reliability
Our Values
Our daily code of conduct is exemplified by eight core values:
Four threshold values — values at the heart of our brand.
Four differentiator values — values that set our brand apart.
Strengths
It resulted in a larger, stronger and much more versatile
institution.
In fact it has the highest share capital amongst private
banks in Pakistan.
The largest in terms of equity.
Innovation
We pioneer novel and more efficient ways to deliver
solutions.
We are dedicated to a culture of improvement and modernization.
We stand for originality, in thought, in action and in belief.
Our Innovation: Our Strength.
Teamwork
We function as a team. Within functions, we cooperate.
Between functions, we collaborate.
Together, we aim for excellence and leadership in our chosen markets.
Integrity
We are recognised by our reliability, credibility and
character.
We believe in ethical, honourable, time-proven principles of uprightness.
We stand for and abide by honesty, truth and transparency.
Professionalism
We are proficient and efficient in all that we do.
We provide banking services knowledgeably and skillfully.
We uphold regulatory obligations.
Our Professionalism: Our Competence
Responsiveness
We are receptive to the need for change and improvement.
We are proactive and anticipate our customers’ needs and wants.
We act quickly to modify, adjust or prepare for new realities.
Products and Services
We are a
progressive bank striving to offer innovative products, easy accessibility, quality service & convenience to
our customers. We offer customized financing solutions with flexible criteria and convenient loan tenures. You can
avail car, home and personal loans through our various
branches. We also offer a host of Corporate & Investment Banking Services to our
clients, which include financial and corporate advisory
services, along with a wide array of tools to help them achieve their goals.
Products:
- Deposit
- Saving accounts
- Rozana Munafa Plus Account
- Faysal Moavin Account
- Faysal Premium Account
- Faysal Izafa Account
- Mahfooz Sarmaya
- FCY Savinsg Plus Account
- Consumer Loans:
- Car Loans
- Housing Loans
- Corporate & Investment
Banking:
- Corporate Financing
- SME Finance
- Trade Finance
- Treasury & Capital
Markets
- Agricultural Financing
- Cash Management Services
Services:
- PocketMate
Visa Debit Card
- Travellers
Cheques
- Transfer
of Funds
- Safe
Deposit Lockers
- Non-Stop
Banking
Pest Analysis
Political Situation:
Political challengers also remained in the limelight during
the year. Recent electionshave been one of the most watched for in our history.
Though the political environmentis likely to remain unstable for a while, we believe law and order situation
is the most important conduit of its
influence on the economic activity. As far as the economic policies of different political parties are concerned, these are not
easily distinguishable. Privatizing, deregulation
and focus on foreign investment are the main pillars of economic policies of all the leading parties.
Technology:
The bank also continued its
policy of upgrading technology to meet the challenges of
modern banking. During the year
the bank achieved the distinction of having successful completed the mammoth
project of changing of the core banking system commenced in 2005 and fully
migrated to a modern centralized processing system SYMBOLS acquired from a
reputable international vendor and being used by a large number of banks in
Europe, Asia, the Middle East, and Africa. With the successful implementation
of new centralized database system the bank is in the final stages of
implementation of Oracle Financials that will give it significant MIS
flexibility, ease of operation and improved internal controls. To address its
need for modern technology based banking and for managing a 360degree view of
its customers for better client service, the bank has now embarked upon
implementing the world renowned Customer Relationship Management (CRM) solution
Siebels and a FULL FUNCTIONAL Contact Centre. The bank has also initiated
implementation of Oracle HRMS, a powerful human resource management system for
effiThe bank with the assistance of independent reputable professional
consultants, prepared and implemented a detailed Business Continuity Plan
(BCP), Disaster Recovery Plan (DRP) and information System Security policies
for its new technology platform under the guidelines provided by the State Bank
OF Pakistan and ISO 1799/ BS7799.2:2002.
Economic Review:
Pakistan’s
economic continued to show resilience and strong performance. It grew by 7% in
2006-07 and is expected to grow by over 6% in 2007-08, which is one of the
highest in the region. Investment a key determinant of growth reached a record
level of 23% of GDP. This was mainly caused by higher FDI and a remarkable
surge in investment in the local stock market and GDRs issues. Pakistan
received USD 5.1 billion of FDI during FY07, which was 46% higher than FY06.
Another encouraging aspect was the remarkable growth of 19.4% YOY in workers
remittances during FY07 to reach USD 5.5 billion. However, higher commodity
prices and a rising oil import bill are pushing inflation and the current
account deficit.
SWAT Analysis
Strengths:
FAYSAL bank has achieved marked success in its strategy of
expanding and diversifying its customer base and launching new and innovative
financial products
Faysal Bank has been operating in Pakistan
since 1987 and is listed on the Karachi
and Lahore Stock Exchanges. The bank has approximately 2000 employees, a branch
network of 129 branches, 2 sub-branches, one sales and service centre and an
ATM network of 93, in 38 cities across Pakistan.
Faysal Bank’s strength is validated by its credit rating of AA (Double A) for
long term and A1+ (A1 plus) for the short term assigned to it by both by PACRA
and JCR VIS.
Weaknesses:
But due to
centralized system the approval of all the transactions has to taken from head
office. Organizational structure of FAYSAL bank is Functional based. Every
employee is responsible for his own operations and no co-ordination exists
among departments.
Most of the hiring is on contract basis.
Promotion is slow. Salary package is not so much attractive.
Clients of Faysal Bank are less in number as compare to its
some competitors
Opportunities:
FAYSAL bank is now looking in to
new ways of providing banking service to its customers. New concept of mobile
banking has been introduced by the bank, which will prove to be a remarkable
success in the field of consumer banking group.
Competition in the field of
consumer banking has been intensified as large consumer banks continued to play
a significant role in terms of products and services. FAYSAL bank is preparing
for this competition by establishing a dynamic platform that will enabled it to
launch a series of new products in years to come. This dynamic platform will be
supported with a robust operational infrastructure and delivery mechanism.
Threats:
Bank has to maintain a balance
between its liabilities and assets structure. Turn Over rate is very high.The
sad part is that our industrial base isn't growing and industrial demand for credit
is, therefore, low. Banks is aggressively lending in the consumer sector. Cars,
motorcycles, home mortgages. Industrial sector is the most powerful sector which
can contributes towards assets of bank. But in Pakistan
due to instability in economic condition this sector is not flourishing too
much. As a result the rate of industrial loaning is also very low. If bank
continues in advancing consumer loansthen it will become a threat for the
assets of bank and resources of the bank willcontinue to be wasted. New
incoming local and especially foreign banks are making tough competition among
banks. The employees of Faysal Bank are Dissatisfied
CONCLUSION:
FAYSAL bank will remain an aggressive and innovative
financial institution and continue to adhere to the tradition of understanding its
customer’s needs and looking for new ways to serve them. Further integration and
productivity gains will result in stronger performance in terms of revenue as well as service
quality in the coming years. The strong leadership of Board and
management and the relentless effort of the staff at FAYSAL bank will be able to offer more
superior products and services to customers and to contribute more to economic and social development of Pakistan
while developing a bigger
future for it.
Reference
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