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Industrial Development Bank of Pakistan.
Introduction.IDBP is one of Pakistans’ oldest development
financing institution created with the primary objective of extending term finance for investment in the manufacturing sector of the economy.
IDBP has also become an important component of the financial sector of Pakistan and is playing an active role in money and capital market of the country.
Date of establishment.
“IDBP was established in August, 1, 1961.”
Head Office .
3rd Floor State Life Building No.2, Wallace Road,
Off: I.I. Chundrigar Road, Karachi-74000Phone : +92-21-99213601-10, Fax : +92-21-99213644 Email : [email protected]
REASON FOR ESTABLISHMENT/OBJECTIVES.
The Bank provides medium and long term finance in local and foreign currencies for the creation of fixed assets to new industrial projects as well as for expansion.
It also facilitates transfer of technologies from developed countries to industrial enterprises in Pakistan.
Paid up capital.
IDBP is wholly owned by Government of Pakistan with total paid up capital 500 Million, 57% of its shares held by Federal Government, 36% by State Bank of Pakistan and 7% by Provincial Governments and other Public sector corporations.
Sources of funds. 1 ) Borrowing from the Federal
Government. 2 ) Borrowing from the state bank of
Pakistan. 3) Re discounting of bills. 4) Time deposits. 5) Issue and sale of bonds and
debentures.
Sort of financing assistant. IDBP has the unique distinction of financing
the first ever projects for a diversified list of products like;
UHT pack milk, three wheelers, radio/wireless receiving sets, marble processing, coal mining, PVC deep sea fishing etc
Functions.DEVELOPMENT BANKING BUSINESS
Provides medium and long term finances Provides guarantee, loans.
COMMERCIAL BANKING BUSINESS Deposits Remittances Bills Short term advances Guarantees . Letter of Credit. Foreign exchange accounts.
MERCHANT BANKING BUSINESS Underwriting of public issue of shares Bridge Financing Leasing .
COLLECTION OF UTILITY BILLS Telephone Bills at all branches, and Gas Bills at Branches in
Karachi.
