17th April 2018: Building its Prime Minister Youth Business Loan (PMYBL) portfolio further, JS Bank has collaborated with Ghandhara to extend financing solutions to existing and potential customers of Ghandhara Nissan Limited, Ghandhara Industries Limited and Ghandhara DF (Pvt.) Limited.
JS Bank will provide financing solutions to organizations and individuals, who intend to purchase Light Commercial Vehicles (LCV’s) marketed by these three companies, including ISUZU, JAC & DongFeng variants. Applicants will be able to avail the market’s lowest mark-up rate of just 6% per annum for allowing them to increase their median household income and increase their financial independence.
Speaking at the occasion, Kamran Jafar, Group Head – Corporate & Retail Banking Group at JS Bank stated, “This agreement will revolutionize the dynamics of the commercial vehicle industry and provide convenient access to low-cost financing solutions to thousands of deserving individuals across Pakistan.”
Appreciating the business opportunities being created for the youth through the PMYBL program, Muazzam Pervaiz Khan, Senior Executive Director Marketing and Sales – Ghandhara Nissan Ltd. stated, “The collaboration between JS Bank and Ghandhara Group underpins our resolve to provide value added services to our esteemed customers. This venture will provide the necessary growth impetus for customers who wish to capitalize on the growing number of opportunities in national economy.”
Mr. Iftikhar Ahmed Khan, Chief Financial Officer and Company Secretary -Ghandhara Industries Limited added, “This alliance will help us to combat soaring unemployment in the country by providing self-employment opportunities to the youth and the underprivileged.”
Through this alliance JS Bank is helping to drive growth within the domestic transportation and logistics industry keeping in view the increased demand for commercial vehicles in Pakistan’s growing economy especially in the backdrop of the China-Pakistan Economic Corridor (CPEC).
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About JS Bank:
JS Bank is one of the fastest growing banks in Pakistan, with 323 branches in 161 cities. The Bank also has an international presence and is a leading player in the digital banking space. JS Bank has received the prestigious award for Best Environmental and Social Governance Bank at the Pakistan Banking Awards 2017. The Bank is part of JS Group, one of the Pakistan’s most diversified and progressive financial services group. For more information, please visit http://www.jsbl.com.
About Ghandhara:
Ghandhara, representing the oldest automobile group in Pakistan, has presence in the industry from the past 50 years. It is the only Group in the country assembling complete range of products i.e. passengers cars, light commercial vehicles and heavy-duty trucks and buses with total strength of more than 1,000 employees. As a customer centric group, the mission of Ghandhara is to provide highest level of value and satisfaction to their customers. Due to outstanding growth, one of the companies amongst the Group has also been placed in the Forbes’ list of Asia’s top two hundred under a $ Billion 2017. For more information please visit http://www.gil.com.pk
Caption: JS Bank and Ghandhara have entered into a partnership whereby, JS Bank will extend vehicle financing solutions under the Prime Minister Youth Business Loan program. The ceremony was attended by Basir Shamsie, Deputy CEO and Kamran Jafar, Group Head Corporate & Retail Banking Group on behalf of JS Bank in addition to Muazzam Pervaiz Khan, Senior Executive Director Marketing & Sales – Ghandhara Nisssan and Iftikhar Ahmed Khan Chief Financial Officer & Company Secretary – Ghandhara Industries.