Banks set to cut costs with remote work, digital push

March 13, 2026 (MLN): Pakistan’s banking sector is likely to introduce a range of austerity and cost-control measures after the State Bank of Pakistan (SBP) declared a work-from-home arrangement for internal staff on Fridays along with a 50% reduction in onsite presence.

The move comes amid a challenging global environment affecting several regions, including Asia, prompting financial institutions to review operational efficiency and reduce unnecessary expenses.

Banks are expected to implement temporary austerity measures for the next couple of months to align with the evolving economic situation.

These measures are likely to focus on reducing operational costs, conserving energy, and promoting digital alternatives for routine processes while ensuring uninterrupted banking services for customers.

As part of operational adjustments, banks may encourage employees to avoid unnecessary inter-city and intra-city travel for meetings.

Virtual meetings through video conferencing platforms are expected to replace most face-to-face engagements, while staff training sessions may increasingly be conducted online to limit logistical costs and travel requirements.

Energy conservation is also expected to be a key focus area for banks during this period. Institutions may implement policies to limit the use of air conditioning by operating units at energy-efficient temperature settings and reducing the number of active units in offices and branches.

Staff may also be encouraged to switch off lights and electrical equipment when leaving rooms, reduce generator fuel consumption, and adopt car-pooling arrangements to help cut overall fuel usage.

Banks are also likely to promote a reduction in printing and procurement activities as part of their austerity efforts.

Employees may be advised to minimize the use of printed documents and rely more on digital sharing of information, while double-sided printing could be used where printing is unavoidable.

The issuance of new stationery may also be restricted until existing supplies are fully utilized, alongside a greater emphasis on purchasing locally manufactured products.

At the same time, financial institutions are expected to accelerate the use of digital banking channels.

Employees may receive account statements in electronic format, while customers could be encouraged to opt for e-statements and make greater use of mobile banking, internet banking, and other digital platforms for their transactions.

These steps show the banking sector’s effort to adapt to the current economic situation by improving operational efficiency and supporting national conservation initiatives.

If implemented widely, the measures could temporarily reshape workplace practices across Pakistan’s banking industry while further strengthening the shift toward digital financial services.

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