The Finance Department submitted details of Bank of Punjab (BoP) income, expenditure, salaries of officials, and other facilities in the provincial assembly, reported 24NewsHD TV channel on Saturday.
In the report, Bank of Punjab reveals 268 defaulters of more than Rs10 million, while operating expenses increase by more than 34 percent. 268 major borrowers of the Bank of Punjab are included in the list of defaulters.
The Bank of Punjab’s operational expenditure increased by 34 percent during one year. Expenditures rose from Rs 37.12 billion to Rs 49.90 billion.
An increase of approximately Rs 12.78 billion was recorded in the Bank of Punjab's operating expenses over the course of a year.
The monthly salary of the Bank of Punjab’s President and CEO is Rs 6.619 million; taxes and other perks are in addition to this.
The Bank of Punjab’s President and CEO is paid an annual salary of Rs 79.428 million. The tax applicable to the Bank of Punjab President and CEO's salary is also paid separately.
The Bank of Punjab’s President and CEO also receives various perks, including a car, a driver, and medical insurance.
In 2024, the Bank of Punjab’s President and CEO was paid a total of Rs232.261 million in compensation and perks.
Rs 140.64 million to the CEO as managerial remuneration. Seven non-executive directors of the Bank of Punjab were paid Rs 64.908 million in fees and allowances.
Certain senior officers of the Bank of Punjab are provided with a bank vehicle (including a driver), corporate club membership, and a mobile phone.
The Bank of Punjab's total income stood at Rs 70.846 billion in 2024. In 2023, the total income was Rs 58.664 billion. The Bank of Punjab's profit before tax was Rs 24.565 billion in 2024. In 2023, the profit stood at Rs21.218 billion.
The Bank of Punjab's income from fees and commissions rose from PKR 7.429 billion to PKR 11.374 billion over the course of a year. The Punjab government owns more than 57 percent of the Bank of Punjab's shares. The total shareholder base comprises 20,521 shareholders.
Reporter: Rap Dilshad Hussain