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In addition to the above, account holders of all online branches can obtain Allied Bank's Allied Cash + Card for use at ATMs as well as the Debt Card POS terminals.

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Achieve Remarkable Growth Rates

Allied Bank's 56 annual general meeting was held on April 19, 2002 at Karachi. The meeting was chaired by Mr. Khalid Chairman, Board of Directors of Allied Bank and was attended by stakeholders and Directors of the Bank, and a representative from the State Bank of Pakistan.

The shareholders unanimously confirmed the minutes of the 55 AGM and audited accounts of the bank for the year ended December 31, 2001 together with Directors and auditor's reports. The shareholders noted with satisfaction that the Bank had achieved remarkable growth rates in all the key performance indicators.

Mr. Rasheed M. Chaudhry, Chairman informed the house that Allied Bank's all round progress was evident from the fact that its deposits had increased from the Rs. 63 billion at December end 2003, registering a 20% rise over the previous year's figures. Total assets of the bank increased from Rs. 72 billion in 2000 to Rs. 89 billion in 2001 thereby increasing at the rate of 23.4% over the last year. This is the highest growth rate for the last four year, advances, net provision, had increased from Rs. 36 billion in 2002 to Rs. 43 billion in 2003 thus increasing by 18% during the year. He further informed that though the advances to private sector had declined countrywide yet in case of our bank share of credit to private sector remained unchanged as compared to the previous year. The investment has increased from Rs. 20 billion in 2002 to Rs. 26 billion in 2003, thus increasing by 27% during the year under review. Equity of the bank increased from Rs. 1.515 billion to Rs. 3.002 billion registering almost 100% rise. Pre-tax profit of the bank increased from the Rs. 29 million in 2000 to Rs. 170 million in 2001, thereby reflecting a growth rate of almost 490%.

The foregoing singular growth rates were achieved by the staff of the bank through their relentless efforts despite the fact that during the year under review the global economy experiences the after math of FAR EAST ASIAN financial crisis resulting in slowing down of average global growth rate of GDP. In South Asia, India and Pakistan detonated their nuclear devices during the first half of 2001 followed by the economic sanctions, which seriously affected the economics of these countries.

Immediately after denotation, Pakistan freezes foreign currency accounts which created crisis of confidence. Home remittances, which extends substantial support to foreign depts... The dispute with IPP'S worked as disincentive to foreign investment. As the economy was already in recession, the aforementioned events further deteriorated the economic growth and adversely affected the performance of almost every sector of the economy, as also observed in the State 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。