JS bank, one of the fastest growing financial institutions in the country, has notched another achievement under its belt. It has been recognized as the ‘Best Bank for SMEs’ in the Asiamoney Best Banks Award category.
This award is the culmination of hard work, and dedication to keep building on their strengths and not giving into complacency after reaching their goals.
The bank ranked as the third largest SME bank in Pakistan, with a portfolio of around PKR 47 billion (USD 348 million) as of December 2018. It is impressive because JS bank showcased a growth of epic proportions with an increase of 155% in the last year alone.
This journey started in 2014-15 when the bank starting focusing on the SME side, however, the bank expanded on the policy and the fruits of this labor are there for everyone to see in less than four years.
JS Bank has helped create employment opportunities for over 16,000 borrowers directly and over 100,000 people indirectly in the space of four years. The bank has played its cards intelligently by partnering up organizations like USAID, Karandaaz, Careem, Nestle Pakistan & Engro Foods Limited (Friesland Campina) to create these opportunities.
What sets JS bank apart from other banks is its focus toward female borrowers. It has created specialized solutions for women entrepreneurs in rural outreach programs. This has helped to empower women and provide them with financial stability.
The bank relies not just on its brand recognition to attract borrowers but it is actively working to improve its services. It is currently one of Pakistan’s leading providers of loan against gold, and this type of lending is the fastest SME loan processed in Pakistan’s entire industry – the application is processed in less than 100 minutes.
The success of JS Bank’s growth is due to a number of reasons including that when it comes to customer satisfaction, it looks towards its value-driven approach, and this is one of the major reasons that it is the bank of choice for SMEs and entrepreneurs across Pakistan.