Pakistan’s leading SME bank, Bank of Punjab (BOP), has joined the SME Finance Forum (SMEFF), a global network managed by the International Finance Corporation (IFC) that promotes access to finance for small and medium businesses worldwide. Notably, BOP is the first commercial bank from Pakistan to achieve membership in SMEFF.
Renowned for its SME banking expertise, BOP boasts over Rs. 2.2 trillion in assets and a network of 815 branches nationwide. The bank has received prestigious awards like the ‘Best SME Bank in Pakistan’ at the 2024 Global SME Banking Innovation Awards and recognition at the AsiaMoney and Pakistan Banking Awards.
BOP’s President & CEO, Mr. Zafar Masud, expressed his excitement about the partnership: “We are thrilled to solidify our commitment to empowering SMEs through SMEFF. Together, we will leverage innovative solutions to create impactful opportunities for entrepreneurs and drive sustainable growth.”
Mr. Qamar Saleem, Head of SMEFF, welcomed BOP, acknowledging its leadership in SME banking. He highlighted BOP’s progressive initiatives in data, sustainability, digital solutions, and agricultural finance, which align with SMEFF’s mission to support emerging markets.
Both BOP and SMEFF share the goal of promoting SME growth. BOP’s membership grants access to global best practices, product innovation, risk mitigation tools, and strategic partnerships to attract investments and gain recognition within a global network. Additionally, SMEFF provides members with exclusive benefits like innovation hubs, study tours, and valuable public services.
This collaboration marks a significant step for BOP in facilitating sustainable economic development by bolstering support for the SME sector both domestically and internationally.