Karachi, January 23, 2014 (PPI-OT): We refer to the talk show program “Khara Sach” with Mubashir Luqman aired on the ARY News channel on January 20, 2014 targeting JS Bank Limited (the ‘Bank’). The anchorperson showed a deposit report of the Bank and made false, incorrect, misleading and defamatory remarks about the Bank and its customers. The anchorperson misstated that one of the customers was receiving below market rate on a Pak rupee deposits.
However, as a matter of fact, the term deposits referred by anchorperson are placed with the Bank in US Dollars and not in Pak Rupees. The deposit rate being received by the customer is in line with market rates for institutional customers on US Dollar deposits. JS Bank is one of the fastest growing banks in Pakistan and operates through a network of more than 200 branches in 112 cities of Pakistan. JS Bank is rated A+ long term and A1 short term by PACRA.
For more information, contact:
Manager, Marketing & Corporate Communications
JS Bank Limited
Tel: (92 21) 111 (572 265) Ext: 330
Fax: (92 21) 263 1803
Mobile: (92 321) 8298270
Category: General Business News