Retirement of Director of National Bank of Pakistan | Pakistan Company News

Retirement of Director of National Bank of Pakistan

Karachi, National Bank of Pakistaninformed Pakistan Stock Exchange that Mir BalakSherMarri, Directors appointed by Federal Government in terms of Government of Pakistan, Finance Division, Notification No. F-10 (31) Bkg-III-2010- 2023 dated December 17, 2014 on the Bank Board has retired from the Directorship of the Bank with effect from April 09, 2018 after completing his tenure of three years.

National Bank of Pakistan was incorporated in Pakistan under the National Bank of Pakistan Ordinance, 1949. The bank is engaged in providing commercial banking and related services in Pakistan and overseas. It also handles treasury transactions for the Government of Pakistan as an agent to the State Bank of Pakistan. The operational branches of the bank in Pakistan are 1,342 and 23 overseas branches including the Export Processing Zone branch in Karachi. The bank also provides services as trustee to National Investment Trust, Long-Term Credit Fund and Endowment Fund for student loans scheme. The registered office of the bank is located in Karachi. The shares of are quoted on the Karachi, Islamabad and Lahore Stock Exchanges of Pakistan.

The bank has transformed from a public sector organization into a commercial bank. The services are available for individuals, corporate entities and government. Besides the presence of the bank as an agent to the State Bank of Pakistan it has significant penetration in the debt equity market, corporate investment banking, retail and consumer banking, agricultural financing, treasury services and showing interest in the development and promoting interest in the development of small and medium enterprises of the country. The operations of the bank have been partially privatized. Some of the activities are state owned and some are privately owned. The core products of the bank are premium amdani, premium saver, saibaan, advance salary, cash card, investor advantage, kisantaqat, kisan dost and cash and gold.

The subsidiaries of the bank are Taurus Securities Limited, NBP Exchange Company Limited, NBP Capital Limited, NBP Modaraba Management Company Limited, and CJSC Bank, Almaty, Kazakhstan. It has also recently opened a subsidiary in Dushanbe, Tajikistan. The joint ventures include, United National Bank of UK, First Investment Bank and NAFA, an Asset Management Company which is a joint venture with NIB Bank and Fullerton Fund Management of Singapore.