In a recent circular State Bank of Pakistan has made an announcement of considering “Sindh Bank Limited” as a scheduled bank with effect from December 24, 2010. After the formation of Bank of Punjab, Bank of Khyber and Bolan Bank; finally a bank named “Sindh Bank Limited” has been made by the Provincial Government of Sind. Earlier, in this month a license was issued to Sindh Government for the establishment of bank.
Today as on 26 December 2010, President Asif Ali Zardari has inaugurated the first branch of Sindh bank Limited in Naudero. SBL has been formed by initial investment of Rs 10 billion by Sind Government. The bank’s main areas of focus are agricultural and consumer loans, microfinance and seasonal advances for crop production etc. 23 branches will be opened in each district of the Sind province along with regional office; whereas 19 branches will opened in other areas of the country for running the operations of the bank smoothly.