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JS Bank Limited is a subsidiary of JS Group
JS Group
JS Group is a financial services group in Pakistan. JS Group controls and operates financial services companies in Pakistan. Financial services of JS Group include asset management, commercial banking, company research, insurance, investment banking, Islamic banking, micro finance, and stock...

. JS Group is progressive financial service groups in Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...

. JS Group has dynamically expanded its business in different sectors and has introduced JS Bank Limited with various standards of banking.

JS Bank Limited operates in the Commercial banking sector. It is a scheduled bank engaged in commercial banking and related services. The activities of JS Bank are categorized into five business units. They are Retail Banking
Retail banking
Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth.-Types of...

, Wealth Management
Wealth management
Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services...

, Corporate Banking, Investment Banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...

 and Treasury
Treasury
A treasury is either*A government department related to finance and taxation.*A place where currency or precious items is/are kept....

.

History

JS Bank Limited has been formed after the merger and amalgamation of Jahangir Siddiqui Investment Bank Limited and commercial banking operations of American Express Bank Ltd Pakistan. JS Bank Limited commenced operations in Pakistan as a fully scheduled bank on December 30, 2006.
In 1999 Jahangir Siddiqui Investment Bank Limited (JSIBL) was formed when Jahangir Siddiqui & Co. Ltd. acquired Citicorp Investment Bank (Pakistan) Limited. JSIBL principally mobilized funds through issuance of Certificates of Investment to individual investors, corporate clients, and financial institutions. Short-term financing was provided to corporate clients through these funds. The investment bank was also an active investor in equity
Equity (finance)
In accounting and finance, equity is the residual claim or interest of the most junior class of investors in assets, after all liabilities are paid. If liability exceeds assets, negative equity exists...

, bond markets, and money markets through outright repo and reverse repo transactions.
In 2006 the number of branches was 4, which increased to 9 in 2007. In 2008 the number increased to 39 and to 101 in 2009. In the 2010 the number of branches was 129. Currently JS Bank has over 130 branches in 67 cities.

Retail Banking

Retail Banking at JS Bank offers products and services for both depositors and borrowers. The main offerings include:
  • Countrywide Account Operation
  • Foreign Currency Accounts
  • Kamiyab Business Account
  • Loans & Running Finance
  • Non-Stop 9 to 5 banking
  • PLS Rupee Savings Account
  • Rupee Basic Banking account
  • Rupee Current Account
  • Rupee Fixed Deposits
  • Rupee Plus Account
  • Sale & Encashment of Govt. of Pakistan Securities
  • Service Standards
  • SWIFT Transfers
  • Tele-banking
  • Unclaimed Deposits
  • Utility bills payment
  • Visa Debit Card
  • Visa Debit Card Application Form
  • Visa Debit Card Dispute Form
  • Western Union Home Remittance

Wealth Management

As part of JSBL Wealth Management
Wealth management
Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services...

 Services, JSBL product lines are divided into:
  • Bancassurance
    Bancassurance
    The Bank Insurance Model , also sometimes known as 'Bancassurance', is the term used to describe the partnership or relationship between a bank and an insurance company whereby the insurance company uses the bank sales channel in order to sell insurance products.BIM allows the insurance company to...

  • Mutual Funds

Investment banking

The investment banking group of JS Bank has been the pioneer of numerous landmark transactions brought to the domestic capital markets. The group’s legacy dates back to the 90’s through a closely held partnership with the then eminent Bear Stearns. More recently, the investment banking group has been an advisor and arranger to:
  • Pakistan’s first ever local currency Islamic Sukuk
  • First ever subordinated TFC issue in Pakistan
  • First 10 year corporate bond
    Corporate bond
    A corporate bond is a bond issued by a corporation. It is a bond that a corporation issues to raise money in order to expand its business. The term is usually applied to longer-term debt instruments, generally with a maturity date falling at least a year after their issue date...

  • First TFC issue with a conversion option
  • First perpetual bond
    Perpetual Bond
    Perpetual Bond is a Big Finish Productions audiobook based on the long-running British science fiction television series Doctor Who.The Companion Chronicles "talking books" are each narrated by one of the Doctor's companions and feature a second, guest-star voice along with music and sound...

  • First commercial paper
    Commercial paper
    In the global money market, commercial paper is an unsecured promissory note with a fixed maturity of 1 to 270 days. Commercial Paper is a money-market security issued by large banks and corporations to get money to meet short term debt obligations , and is only backed by an issuing bank or...

  • First floating rate TFC issue

Corporate banking

The main area of corporate banking work includes treasury
Treasury
A treasury is either*A government department related to finance and taxation.*A place where currency or precious items is/are kept....

, asset management, corporate finance
Corporate finance
Corporate finance is the area of finance dealing with monetary decisions that business enterprises make and the tools and analysis used to make these decisions. The primary goal of corporate finance is to maximize shareholder value while managing the firm's financial risks...

, brokerage aervices and Islamic banking
Islamic banking
Islamic banking is banking or banking activity that is consistent with the principles of Islamic law and its practical application through the development of Islamic economics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees for loans of money...

 for shariah-compliant banking services. In corporate banking service, JSBL offers following services:
  • Loans
  • Trade Finance
  • Export Services
  • Import Services

Treasury

Bank's treasury service endeavors to partner its customers in ensuring they use the financial markets to optimize their risk profile and enhance value to their stakeholders. Treasury seeks to do this by becoming the risk solutions provider of choice, offering treasury products. Services offered by treasury include:
  • Foreign Exchange
    Foreign exchange
    Foreign exchange may refer to:Finance* Foreign exchange markets, where money in one currency is exchanged for another* Exchange rate, the price for which one currency is exchanged for another...

  • Corporate Debt Market
  • Primary Dealership

Financial information

  • Ticker
    Ticker
    Ticker can mean:* A stock ticker machine and the ticker tape it prints on* Ticker symbol, codes used to uniquely identify publicly traded companies on a stock market...

    : JSBL
  • Country
    Country
    A country is a region legally identified as a distinct entity in political geography. A country may be an independent sovereign state or one that is occupied by another state, as a non-sovereign or formerly sovereign political division, or a geographic region associated with a previously...

    : PAKISTAN
  • Exchanges: KAR
  • Major Industry: Financial
  • Sub Industry: Commercial Banks
  • 2010 Sales 3,631,901,000
  • Employees: 830
  • Currency: Pakistan Rupees
  • Market Cap: 1,385,451,491
  • Fiscal Year Ends: December
  • Shares Outstanding: 814,971,465
  • Share Type: Ordinary
  • Closely Held Shares:527,046,037

Awards and achievements

JS Bank Limited won the first award for the primary dealer for Financial Year 2010-11.

T-20 Women's Tournament

JS Bank organized the first women's T-20 Tournament, JS Bank Cup – Women T20 Cricket Tournament which started from June 29, 2011 and ended on July 3, 2011. The event was held to promote women's cricket and to spot new talent. The participating teams were JS Orange, JS Red, JS Blue and JS Green.

Pakistan Fast Growth 25

Pakistan Fast Growth 25, a ranking of fast growth entrepreneurial companies, is a program of All World Network which was launched in Pakistan with collaboration of JS Bank Limited.

100 Lucky Winners

JS Bank launched a monthly lucky draw campaign in July 2011 in collaboration with Xpress Money Services Limited for its remittance service availing customers. The campaign's duration is three months. The first lucky draw of the campaign was held on August 5, 2011 and the winners were awarded prizes.

External links

The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
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