Karakoram Cooperative Bank

Karakoram Cooperative Bank Limited (KCBL)
TypeCooperative Bank
IndustryBanking, Financial services
Founded1956 in Gilgit-Baltistan, Pakistan
Headquarters
Gilgit
,
Pakistan
Area served
Gilgit-Baltistan
ProductsSavings Accounts, Loans, Investments, Remittances, Insurance
Divisions60 branches and 5 sub-branches
Websitekcb.com.pk

Karakoram Cooperative Bank Limited (KCBL) is a financial institution operating in Gilgit-Baltistan, Pakistan. Established in 1956, it provides retail and commercial banking services through its network of branches in the region.[1]

History

KCBL, established in 1956, over the years, has expanded its network to include 60 branches and 5 sub-branches.

Risk Management

In December 2022, the Governor of Gilgit-Baltistan, Syed Mehdi Shah, had requested KCBL to open new branches to further expand its reach and services.[2] The bank also established a risk management framework to meet regulatory guidelines, appointing a Chief Risk Officer to oversee the strategy and its digital integration.

Challenges

The Gilgit-Baltistan region presents operational challenges for financial institutions, including geographic isolation and limited digital infrastructure. To address these conditions, the Karakoram Cooperative Bank (KCBL) expanded its local outreach programs.

The bank has also been involved in a case of theft where a small amount was recovered in a case of Rs 120 million[3], and an employee was accused of stealing more than Rs 60 million.[4]

References

  1. ↑ "'Talks on to give SME bank status to KCBL'". www.thenews.com.pk.
  2. ↑ "Gilgit-Baltistan Governor calls for opening of new branches of Karakoram Cooperative Bank". Radio Pakistan. 2 December 2022. Archived from the original on 3 December 2022. Retrieved May 19, 2026.
  3. ↑ "Police dept briefs GB CS on embezzlement in KCBL Astore". The Nation. Gilgit. February 18, 2023. Archived from the original on March 20, 2023. Retrieved May 19, 2026.
  4. ↑ "Man accused of stealing over 60mn rupees from Karakoram Cooperative Bank arrested". December 23, 2022.
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