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.
<ul><li>PICIC Asset Management </li></ul><ul><li>PICIC Insurance </li></ul><ul><li>PICIC Commercial Bank </li></ul>
Introduction <ul><li>PICIC Commercial Bank Limited was incorporated in 1993 as Schon Bank Limited </li></ul><ul><li>It commenced its business on 4th April 1994 </li></ul><ul><li>In 1997, Al-Ahlia Company of The Sultan of Oman acquired the major share and changed the Banks name to Gulf Commercial Bank </li></ul><ul><li>In February 2001, the Banks management again changed when Pakistan Industrial Credit and Investment Corporation acquired 60% shares. </li></ul><ul><li>Pakistan Industrial Credit and Investment Corporation changed its name to PICIC Commercial Bank in May 2001. </li></ul>
Introduction <ul><li>I n February 2001 PICIC Commercial Bank had only 15 branches. </li></ul><ul><li>Now they have 128 Branches in 48 cities. </li></ul><ul><li>It is now the 6th largest bank in Pakistan after 5 nationalized and privatized banks. </li></ul>
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.
<ul><li>All brand new Pakistan assembled / manufactured cars and reconditioned (Japan Assembeled) unregistered cars can also be applied for Financing. </li></ul>Easy Pic - Car Financing
<ul><li>Application for Housing Finance may be accepted from salaried or self employed persons subject to completion of certain conditions given below. </li></ul>House Financing
<ul><li>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. </li></ul>Talimi Loan
<ul><li>PICIC Commercial Bank offers the PowerPic facility - the convenient and easy way to settle your Credit Card dues at a very nominal markup rate. </li></ul>Balance Transfer (BTF)
<ul><li>The Motorcycle Financing facility offered by PICIC Commercial Bank provides consumers the opportunity to purchase brand new motorcycles manufactured / assembled in Pakistan for their personal use </li></ul>Motorcycle Financing
Shishmahi Munafa Profit paid Six monthly Mahana Munafa Profit paid monthly Millinium Account Profit paid every year but a minimum balance of requirement = Rs. 1,000,000/-.
<ul><li>Profit paid Quarterly </li></ul>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