Sindh Bank selects BenchMatrix for the implementation of RiskNucleus® Loan Origination Solution – BenchMatrix

Sindh Bank selects BenchMatrix for the implementation of RiskNucleus® Loan Origination Solution

Sindh Bank has selected BenchMatrix Private Limited for the implementation of Loan Origination System (LOS). BenchMatrix’s RiskNucleus® LOS will assist in automating loan origination, review, approval processes. In addition, the solution will ensure that the Bank remains compliant to regulatory reporting requirements.
Implementation of this automated functionally rich workflow-based management system for loan origination will speed up the credit approval routing and review processes digitally in all Corporate, Commercial, SME, Special Asset Management, Agri & Retail Banking divisions. Through digitization of data input at different regions, system will allow the Bank to go paperless, enabling swift decision-making by permitting the business users to recognize best opportunities sooner through a smart & consolidated view of proposed and existing risks for the credit underwriters with required collaterals as well as documentation checklist. System will also enhance process efficacy levels by providing the Bank with more system-based controls at pre-approval stages, and helping in post-approval credit monitoring.

Sindh Bank Limited was established on October 29, 2010 with seed capital of Rs.10 billion, wholly subscribed by the Government of Sindh (GOS). It commenced full-scale banking business in April 2011 and within just eleven years, emerged as one of the fastest growing commercial banks in Pakistan, having established 330 on-line branches spread over 169 towns and cities across Pakistan. Out of these, 14 branches are dedicated to Islamic Banking.
Mr. Imran Samad was appointed as the President & CEO of the Bank effective September 20, 2019. Mr. Samad has more than 30 years of experience in Banks/Financial Institutions in the positions of President & CEO, Managing Director and as Senior Executive/Group Head in the areas of Credits, Compliance, Portfolio Management, Retail Banking, Corporate Finance, Islamic Banking, Agriculture Finance, SME, Micro Credit, etc. to his credit, Mr. Samad also has a proven track record of turning around two under-performing Banks/Financial Institutions.
Led by Mr. Samad, President & CEO, the Bank’s management is aggressively pursuing a strategy to turn-around the Bank, with focus on reducing NPLs, improving governance and controls, motivating the Bank’s retail banking team to boost customer deposits and restoring Bank’s profitability and capital adequacy. The measures taken so far have resulted in restoration of customer confidence with customer’s deposits registering a rise of 100% within a short span of time.
Sindh Bank’s current medium to long term entity rating, assigned by JCR-VIS Credit Rating Company, is ‘A+’ (Single A plus), whereas its short term rating is ‘A1’ (A One), with a ‘Stable’ outlook, indicating good credit quality with adequate protection factors in the medium to long term and high certainty of payment with excellent liquidity factors in the short term.

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