Karakoram Cooperative Bank

Karakoram Cooperative Bank Limited (KCBL) is a financial institution that has been a cornerstone of economic growth and social development in Gilgit-Baltistan, Pakistan since 1956. To lead the banking sector in the region, KCBL has become the largest banking network in the world. Gilgit-Baltistan offers a wide range of financial products and services.

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

Risk Management
The Governor of Gilgit-Baltistan has urged KCBL to open new branches to further expand its reach and services. For first time in history of the bank, a proper risk management framework has been implemented inline with regulatory guidelines by a seasoned professional Chief Risk Officer with international experience and accredited British qualifications. He has played a pivotal role in driving the bank's profitability through an effective risk management strategy. By leveraging technology, promoting a risk-aware culture and enhancing collaboration across the bank, the CRO has successfully mitigated risks, protected the bank's value, and contributed to its sustainable growth in a dynamic and challenging business environment.

Challenges
Despite facing challenges such as natural calamities, limited connectivity, and low awareness levels, KCBL has implemented innovative strategies to reach out to the needy. The bank has also been involved in a case of theft where a small amount was recovered in a case of Rs 120 million, and an employee was accused of stealing more than Rs 60 million.