Allied Bank Limited has made some great enhancements to its product offering and has seen a corresponding improvement in financial performance.
The bank has introduced initiatives aimed at improving users’ digital experience. Among these is the introduction of a new account type, Roshan Digital Accounts (RDA), which offers variants tailored to specific customer segments, such as women and senior citizens.
Over the research period, the bank opened 2,996 such accounts, with an aggregate value of Rs97 million ($349,000).
Progress has also been made in digital transformation. The bank has introduced an Islamic financing service for renewable energy projects which saw the disbursement of Rs496 million to 25 projects over the review period.
The bank also launched Allied Aitebar Solar System Finance, which provides loans to cover the cost of solar panels and equipment for clients. Some 22 new loans, amounting to Rs30 million, have been disbursed since launch.
These strategic product and service enhancements have fed through to performance. The bank registered a record annual profit of Rs7,335 million last year, on total assets of Rs131,975 million.
Sukuk volumes reached Rs36,804 million in its retail and corporate lending businesses.