PICIC Commercial Bank

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PICIC Commercial Bank

Type	Private
Founded	Karachi, 1993 (as Schön Bank Limited)
Headquarters	Karachi, Pakistan
Industry	Banking
Products	Loans, Credit Cards, Savings, Consumer Banking etc.
Revenue	PKR
Website	www.picicibank.com.pk

PICIC Commercial Bank Limited is based in Pakistan. Pakistan Industrial Credit and Investment Corporation (PICIC) acquired Gulf Commercial Bank Limited in early 2001. The bank has been renamed as PICIC Commercial Bank Limited.

1 History
2 Vision
3 Mission
4 Functions
- 4.1 Services
- 4.2 Internet banking
5 Branches
6 Board of Directors
7 External links

[edit] History

PICIC Commercial Bank Limited was incorporated in 1993 as Schön Bank Limited and commenced its business on 4th April 1994, with a paid-up capital of PKR 500 Million.

In 1997, Al Ahlia Portfolio Securities Company, Sultanate of Oman acquired the major shareholding and changed Bank’s name to Gulf Commercial Bank. Thereafter, in February 2001, the Bank’s management again changed when Pakistan Industrial Credit and Investment Corporation acquired 60% controlling shares from Al-Ahlia and changed its name to PICIC Commercial Bank in May 2001. Since acquisition, the Bank performance has turned around and it's now the fastest growing private commercial bank in Pakistan.

At the time of takeover by PICIC in February 2001, the Bank had only 15 branches. Now it is the 6th largest bank in Pakistan.

On December 31st, 2007, the operations of PICIC Commercial Bank were merged with and into NIB Bank Ltd.

[edit] Vision

To be recognized and accepted as Pakistan’s leading commercial bank.

[edit] Mission

To have a diversified and satisfied customer base.
To serve the market through innovative banking solutions.
To offer high rate of return to shareholders.
To foster Pakistan’s economic prosperity.
To create a good work environment for employees and foster team work and career development.
To operate ethically and maintain transparency in operations

[edit] Functions

[edit] Services

Commercial Financing
Home Financing
Car Financing
Home Financing
Telebanking
Mobile Banking
Motorcycle Financing
Islamic Banking
Deposit & Saving Products

[edit] Internet banking

As technology advances, PICIC Commercial Bank is set to use it and make the best of it. Now introducing for its customers, Online Banking solutions. With that customers can access their accounts for deposits, withdrawals or inquiries from any branch nationwide.