News Column

SECP approves recommendation of interim relief for stakeholders of BOP

August 8, 2014

Security and Exchanges Corporation of Pakistan (SECP) has approved the recommendation of cash interim relief for the shareholders of bank of Punjab.

Inform sources has said that with minor changes in the recommendation this time the bonus will only will be given to the individual shareholders and not the directors. The bank will announce its quarterly profits later this month. By giving this interim relief the bank of Punjab shall enter the exclusive group of banks which has a sound footing and our profit earning institutions.

Sources said that current financial position of Bank of Punjab is stable because of good governance of Chief Minister Punjab Mian Shahbaz Sharif. His special initiatives have not only saved BOP from default but also make financially stronger.

Chief Minister Punjab has decided that no political influence on the BOP and Board of Directors will make decisions independently.

State Bank and SECP both are satisfied with the current situation of the Bank of Punjab.

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Source: Pakistan Press International

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