Faysal Bank Limited and Ontex Pakistan (Private) Limited enters into Strategic Alliance

Tuesday, 28 Mar, 2017 :

Karachi, 28th March 2017: Faysal Bank Limited (Faysal Bank), one of the leading banks in Pakistan, joins hands with Ontex Pakistan Private Limited; a Belgium based leading personal hygiene company. The Alliance is a strategic supply chain financing arrangement to facilitate distributors of Ontex across Pakistan.

The strategic alliance is a significant step for both organizations, working together to deliver modern financing solutions and facilitate distributors of Ontex to enhance and grow business in Pakistan.

Commenting on the alliance Mr. Fouad Farrukh, Head of Retail Banking, Faysal Bank said “Faysal Bank is committed to deliver specialized solutions across the spectrum of trade finance and services through its Supply Chain financing arangements. The depth and breadth of our trade solutions coupled with our extensive footprint put us in a unique position to service the changing needs of our clients across the country”.

He further added, “I have a firm belief that by entering into a strategic alliance with Ontex, Faysal Bank will play a pivotal role in providing the distributors with effective trade solutions and creating a stronger bond between both the business parties.”

Speaking at the occasion, Mr. Haroon Rashid, (General Manager), Ontex Pakistan, said “It is a pleasure to have this alliance with one of the leading Banks in Pakistan, which will go a long way in facilitating us and our business partners/distributors to exponentially grow our business in the years to come. We are pleased to join hands with Faysal Bank to create a win-win situation for all stakeholders”. Also present at the occasion was Mr. Özgür Akyıldız, General Manager, Ontex MENA.

About Faysal Bank Limited:

Faysal Bank Limited was incorporated in Pakistan on October 3rd, 1994 as a Public Limited Company under the Companies Ordinance, 1984. The Bank’s shares are listed on Pakistan Stock Exchange. Faysal Bank is engaged in Commercial, Retail, Corporate and Islamic banking activities. The Pakistan Credit Rating Agency Limited (PACRA) and JCR-VIS Credit Rating Company Limited have determined the Bank’s long term rating as ‘AA’ and short term rating as ‘A1+’.

Faysal Bank’s footprint now spreads over more than 100 cities with over 350 branches. With total assets in excess of PKR 444.5 billion, placing it amongst the significant players in Pakistan’s banking industry. Faysal Bank’s ambition is to provide par excellence service to its customers while meeting their financial needs.

About Ontex Pakistan (Private) Limited:

Ontex Pakistan (Private) Limited is part of Ontex Global a leading global producer of personal hygiene solution for babies, women and adults. Ontex started its journey in 1979 from Belgium and currently it is operating in more than 110 countries. The company is equipped with 19 production facilities with an employee base of more than 11,000.

To view the Press Release in Urdu Click Here


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