Karakoram Cooperative Bank Limited (KCBL) is a financial institution that has been a cornerstone of economic growth and social development in Gilgit-Baltistan, Pakistan since 1956. To lead the banking sector in the region, KCBL has become the largest banking network in the world. Gilgit-Baltistan offers a wide range of financial products and services.[1][2]
| Company type | Cooperative Bank |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1956 in Gilgit-Baltistan, Pakistan |
| Headquarters | Gilgit , Pakistan |
Area served | Gilgit-Baltistan |
| Products | Savings Accounts, Loans, Investments, Remittances, Insurance |
| Divisions | 60 branches and 5 sub-branches |
| Website | kcb |
History
editKCBL, established in 1956, over the years, has expanded its network to include 60 branches and 5 sub-branches.[1]
Risk Management
editThe Governor of Gilgit-Baltistan has urged KCBL to open new branches to further expand its reach and services.[3] For first time in history of the bank, a proper risk management framework has been implemented inline with regulatory guidelines by a seasoned professional Chief Risk Officer with international experience and accredited British qualifications. He has played a pivotal role in driving the bank's profitability through an effective risk management strategy. By leveraging technology, promoting a risk-aware culture and enhancing collaboration across the bank, the CRO has successfully mitigated risks, protected the bank's value, and contributed to its sustainable growth in a dynamic and challenging business environment.
Challenges
editDespite facing challenges such as natural calamities, limited connectivity, and low awareness levels, KCBL has implemented innovative strategies to reach out to the needy.[1] The bank has also been involved in a case of theft where a small amount was recovered in a case of Rs 120 million,[4] and an employee was accused of stealing more than Rs 60 million.[5]
References
edit- ^ a b c "KCBL: Uplifting G-B through growth, inclusion, and resilience". The Express Tribune. August 28, 2023.
- ^ "'Talks on to give SME bank status to KCBL'". www.thenews.com.pk.
- ^ "KCBL – Karakoram Cooperative Bank Limited".
- ^ "Jul 15, 2021 | Rs120m fake medicines seized". Dawn Epaper. July 15, 2021.
- ^ "Man accused of stealing over 60mn rupees from Karakoram Cooperative Bank arrested". December 23, 2022.