Kabul Bank
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Kabul bank is the largest commercial bank in Afghanistan. Having started operations on 27th June 2004, the bank has become the market leader in terms of business volume, number of branches, customer base, employees etc. It is the most preferred bank by the people of Afghanistan. Sher Khan Farnood is the Chief Executive Officer of the bank. The bank is managed by senior bankers from India and Pakistan. Kabul Bank, like all other banks operating in the country, is under the supervision of Da Afghanistan Bank, which is the central bank of Afghanistan.
[edit] Overview
Within the short span, Kabul Bank has increased its branch network to 43 branches covering 19 provinces. The bank is having 22 branches in Kabul and other 21 branches are in other 18 provinces. Looking to rapid growth and demand the bank will very soon have more branches and will cover all the provinces.
The bank has shown tremendous growth and has started earning profit since inception. It is providing facility to maintain accounts in Current, Savings Bank and Fixed Deposits. The account can be opened and maintained in Afghani, USD, EUR etc. The bank has a new deposit product “Bakht Deposit” which is one of the most popular deposit schemes, introduced in April 2006. Many of its customers have evinced their interest in this scheme which could increase its client-base tremendously.
The bank has various loan products like working capital, term loans etc. Letter of Guarantee and Letter of Credit are issued for its valuable clients to provide financial assistance to them.
Kabul Bank is connected all over the Globe through SWIFT facility which enables fast funds transfer for the customers. The bank is having correspondent relationship with seven International Banks situated in Germany, China, Iran, Tajikistan, Saudi Arabia and India. It is also the principal agent for Western Union in Afghanistan, and is handling 85% of their total remittances business.
Kabul Bank provides “Any Where Banking facility for its customers enabling them to their transactions from any of the branches. It also extend Internet Banking facility with secured password to our valued clients on request. The bank adheres to the norms of Da Afghanistan Bank with required capital adequacy. They are continuously increasing their Profitability. At the same time, they have only a negligible quantum under Non Performing Assets.
To further strengthen their services and to provide a better reach, the bank has decided to install a large number of ATMs all around the country within a short span. It will soon have a tie up with VISA and will be providing International ATM or Debit cards to its customers. The bank will soon introduce POS machines to ease purchases with plastic money. Most of their services to customers are free.
