KARACHI, Dec 27: PICIC Commercial Bank will offer consumer banking in a big way to finance the purchase of home appliances from next month.

In this regard, a memorandum of understanding (MoU) was signed between PICIC Commercial Bank and Dawlance (Pvt) Ltd here on Friday.

S M Waseem of PICIC Commercial Bank and General Manager of Dawlance (Pvt) Ltd Shakeel Ahmed signed the agreement on behalf of their respective organizations.

Waseem said his bank was planning to launch home financing and couple of new deposit schemes soon.

He said the bank will finance up to Rs100,000 for the purchase of home appliances. The scheme offers lower mark up, easy repayment schedule and fast processing.

He maintained that PICIC Bank was the fastest growing bank in the country and its deposits will reach Rs21 billion while trade finance business cross Rs30 billion by the end of 2002.

He pointed out that 42nd branch of the bank will be inaugurated on December 30 at SITE area.

He said the bank has also applied with the State Bank for adding 20 more branches to its network.—APP