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Mission/ vision statementSTRONGER BANKING RELATIONSHIPS, INCREASING CUSTOMER CONFIDENCE Prime Bank is a prominent to its Pakistani bank, providing and

exceptional employees.

value

customers,

shareholders

Prime bank competes in selected market niches on the basis of superior service, innovation, specialized products and professionalism. Prime Banks activities focus on dedicated banking services for the middle market and middle market and middle to large corporations for there banking requirements. Prime Bank is a socially responsible institution firmly believing in the protection of the environment, peaceful coexistence, and respect for human rights. Team spirit, initiative, key performance drive, of the and customer Banks orientation are characteristics Prime

employee and the Prime Banks culture.

BUSINESS PHILLOSOPHYThe bank is committed to being a sophisticated, prominent and professional institution, providing a one-window service to its customers. The bank visualizes itself to grow into a specialized institution catering to the needs of niche markets. Prime banks activities primarily cover the provision of dedicated banking services to the commercial middle market

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segments of the economy; however, selective focus is also given to the corporate finance sector. Prime banks operating strategy is focused on continuous improvement of inter4nalprocedures and operating systems to ensure a better control on the quality of its business and operations.

ANALYSIS OF MISSION, VISION AND BUSINESS PHILLOSOPHY OFPRIME COMMERCIAL BANK LIMITED.The mission statement of prime commercial bank limited expresses its purpose in a way that inspires support and ongoing commitment. It is a short and specific mission that is clear in its meaning and purpose. The statement is articulated in a way that it is convincing and easy to grasp. The mission statement is short enough to be recalled by anyone connected to Prime Commercial Bank Limited. The mission statement of Prime Commercial Bank Limited emphasizes on the following elements:

BUSINESSThe mission statement answers the basic question i.e. the business the business of the organization is to provide banking and financial services. The purpose or target is to be the leading bank through strong commitment towards high quality services.

PURPOSE AND VALUESCustomers are the major stakeholders for and organization. This mission statement focuses on the objective of the bank to increase the confidence of their customers by creating strong banking relationships. This creates a sense of importance amongst the customers and they get more inclined towards the organization.

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The mission statement does not directly refer to any products or services provided by prime commercial bank limited but view it in broader perspective. Strong banking relationships mean providing better services and offer the best of the products to its valuable customers. Prime commercial bank has a mission/vision statement that clearly identifies its long term as well short term objectives. It provides a focused dimension by narrating the banks objectives and purpose with a clear picture of what it wants to achieve in future. This statement resonates with the people working in and for the bank as well as with different constituencies that it hopes to effect. It covers the following elements:

CUSTOMERSCustomers is the major source of revenue for a commercial bank therefore it is the banks strong commitment to provide exceptional services to its customers. The vision of the bank is to be a prominent bank in Pakistan as far as satisfaction of customers is concerned.

PRODUCTS AND SERVICESProviding superior service, innovation, specialized products and professional guidance is the main objective of the bank.

MARKETSPCBL focuses on middle markets and middle to large corporations. It competes in selected mark etches and caters to their financial requirements.

TECHNOLOGY

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Bringing innovation in their existing products and services and introducing new ones is the mission of the mission of the bank.

CONCERN FOR SUVIVAL, GROWTH AND ROFITABILITYPCBL keeps on improving upon its internal as well as external working and operations in order to keep up with the pace of changing banking requirements. That is the bank is committed towards growth and financial soundness.

PHILLOSOPHYPCBL is committed to provide professional services to its worthy customers. Having greater control over the quality of the business and providing better management direction is its basic philosophy.

SELF CONCEPTPCBL is a sophisticated, prominent and professional financial institution that provides a one-window service to its customers. It is the banks distinctive competence or major competitive advantage.

CONCRN FOR PUBLIC IMAGEThe bank is actively responsive to social, community and environmental concerns. It is highly concerned towards environment protection, peaceful coexistence and human rights.

CONCERN FOR EMPLOYEESTeam spirit, initiative, performance, drive, and customer orientation are key characteristics of the prime bank employee and the prime bank culture. PCBL treats it employees as valuable assets and focuses much on employee satisfaction and motivation.

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HISTORY AND PRESENT STATUSWithin the framework of the governments policies, private sector groups were invited to set up new commercial banks in the country. Availing this opportunity, a group of Pakistani professionals with extensive domestic and international banking and finance experience, decided to pool their resource and latent with a sector group of influential, but like minded, business houses in Pakistan and overseas to for the PCBL. From inception, the professionals determined that Prime Commercial Bank Limited would remain a Management Driven Bank, and indeed, drew up the terms of reference for this collective partnership on that basis. Our strategy is focused on continuing improvement of internal procedures and operation structures to have a greater control on the quality of our business and to provide better management direction. Prime bank is the vision of a group of Pakistani professionals with extensive domestic and international banking and finance experience. They teamed up in 1992 with a select group of successful and like-minded business houses in Pakistan and overseas. Some of the foreign investors belong to a highly regarded, very sizeable and well-diversified business group of Saudi Arabia. During the initial years, prime commercial banks strategy was focused on continuing improvement of internal procedures and operating structures, to ensure a greater control over the quality of its operations. Commercial banking activities were initiated at the time of inception in 1992. During 1993, two more business

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divisions i.e. corporate banking and financial services were added. By 1996, PCBL countrywide network of seventeen branches was in place and consumer banking activities were accordingly launched. Under the banks on going branch expansion program fifteen new branches have been added during the years 2001 and 2002 while one more branch will open in December 2002. This would raise the total number of branches to thirty three focusing primarily on the middle market commercial banking segment while blending in the fast growing consumer banking market. Keeping in view the past performance and the probable future prospects prime bank is focusing on rapid expansion to cater with those market segments, which are still to be explored. Prime commercial banks initial objectives were capturing the market by improving upon its internal procedures and to increase it financial services span. Now it has acquired a comparatively larger market share and customer confidence, therefore the next objective is to maintain this confidence through strong and improved external as well as internal operations. The main objectives of the management are now: To make the bank customer focused To plug the leakage of revenues and expenses To correct the structural flaws in the balance sheet To ensure internationally accepted accounting standards are followed in the bank. The bank would continue to maintain its primary focus on the middle-market segment essentially targeting the commercial banking business of the segment. With a view to getting into the consumer banking in a significant manner, the bank has recently commissioned an independent consulting study for this purpose. Banks operating procedures, credit processing and internal controls are being reviewed

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and these studies have been instituted in order to further improve the quality of our operations.

FACTS AND FIGURESPrime commercial bank has completed ten successful years of its banking operations. Now it is the 11th year of providing continuous customer services and building stronger banking relationships within them. After ten years of well controlled, yet sure and successful operations, the bank is now poised to move forware rapidly to be at the cutting edge of financial services combining highly efficient delivery systems with continuos product innovation. Therefore, development of superior human club of winning banks of the future Total assets of prime bank during the period from June 1992 to September 2002 grew at an annual compound rate of about 36 percent to Rs.19.5 billion. Within this [period, shareholders equity grew from rs3300 mission to Rs.1.5 billion, deposits to Rs.13 billion and advances (net) to Rs.8.1 billion. Profit before tax grew from Rs.1 million for the ha