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04 November 2004
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Thursday
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20 Ramazan 1425
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Bank branches in unbanked areas
KARACHI, Nov 3: State Bank of Pakistan on Wednesday said condition of opening 20 per cent branches in unbanked areas shall not be applicable in case of bank having 100 or less branches.
In a circular SBP said the para four of its circular no. 31 dated Oct 5, 2004 has been amended.
"Every bank which has branch network of more than 100 branches shall open at least 20 per cent of the branches, planned to be opened under its annual branch expansion plan, in unbanked areas.
The banks are advised to keep this in view while submitting their annual branch expansion plan for year 2005 and onwards. In other words condition of opening 20 per cent branches in unbanked areas shall not be applicable in case of bank having 100 or less branches."-PPI
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