SBP revises criteria for banks to open new branches

KARACHI (January 05 2005): The State Bank of Pakistan (SBP) has revised criteria for banks to open new branches. A SBP notification issued here on Tuesday said, “It has been further decided that henceforth every bank, which has a branch network of more than 100 branches, shall open at least 20 percent of the branches outside the jurisdiction of big cities and tehsil headquarters under their annual branch expansion plan.

“The jurisdiction for opening of 20 percent of the branches will also include those tehsil headquarters where no branch of any bank exists.

“The banks have been advised to follow this revised criteria while submitting their annual branch expansion plans to the SBP.

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