Commmercial bank It raises funds by collecting deposits from businesses and consumers via deposits, Saving deposits and term deposits. It also provides loans to businesses and consumers. Industrial Credit It is a term in finance when a company provides funds to any other firm in Construction, Distribution, Manufacturing, Mining, Transportation etc. or simply provides funds for industrial use.
Investment Corporation It usually purchases an asset, or equivalently makes a deposit in a bank, in hopes of getting a future return or interest from it. Promote and support the development of the private sector and the capital markets.
I n February 2001 PICIC Commercial Bank had only 15 branches.
Now they have 128 Branches in 48 cities.
It is now the 6th largest bank in Pakistan after 5 nationalized and privatized banks.
Acquisition of PICIC NIB Bank has recently acquired a majority of PICIC largest share holder and through the acquisition of PICIC, NIB has also gained control of PICIC Commercial Bank, PICIC Asset Management Company, PICIC Insurrance Ltd and PICIC Exchange Company.
Talimi Loan Plan offers the most convenient and cost effective financing for quality education of your children. This Scheme is designed to facilitate students of approved educational institutions in paying their semester fees or admission fees.
Sahmahi Munafa Foreign Currency Saving Account PICIC Term Deposit The Term Deposit scheme pays profits on maturity of the deposit Interest rates on New Foreign Currency Saving Accounts for the month of May 2007