NBP blazes the trail

National Bank Of Pakistan

ISLAMABAD – The National Bank of Pakistan (NBP) has become the first ever bank of the country to cross the `One Trillion Rupee’ bench mark with more than 16500 employees and 1277 branch network across Pakistan and 23 overseas branches and representative offices in four countries.

“The bank is engaged in providing commercial banking and related services in Pakistan and overseas. The bank also handles treasury transactions for the Government of Pakistan (GOP) as an agent to the State Bank of Pakistan (SBP)”, Syed Ibne Hassan Spokesman and Vice President of the Bank said in a statement issued here on Thursday. He said that National Bank of Pakistan was incorporated in Pakistan under the National Bank of Pakistan Ordinance, 1949 and is listed on all the stock exchanges in Pakistan. It’s registered and head office is situated in Karachi. NBP is the largest banking institution of the country is serving the nation from last sixty three years, he added. Today NBP, he said has become the first ever bank of the country to cross the `One Trillion Rupee’ bench mark with more than 16500 employees and 1277 branch network across Pakistan and 23 overseas branches and representative offices in four countries.

The bank is engaged in providing commercial banking and related services in Pakistan and overseas. The bank also handles treasury transactions for the Government of Pakistan (GOP) as an agent to the State Bank of Pakistan (SBP).  Syed Ibne Hassan said that the bank also provides services as trustee to National Investment Trust (NIT), Long-Term Credit Fund (LTCF) and Endowment Fund for student loans scheme. He said that National Bank of Pakistan (NBP) is leading in agriculture financing among other banks and financial institutions in the country by lending Rs 33.013 billion among nearly 176,372 farmers between July 2011 to March 2012, against a target of Rs 32.400 billion by SBP for nine months. He further said that the State Bank of Pakistan (SBP) has fixed an indicative lending target of Rs 280 billion for the financial year 2011-12, out of this NBP’s Share is highest after ZTBL.

As per SBP report, NBP’s total outstanding during one year has exceeded by Rs 9.763 billion, rising from Rs27.670 billion in March 2011 to Rs 37.433 billion in March 2012. The NBP outstanding is higher by Rs 9.763 billion as compared with the total exceeded amount of outstanding by all five other banks including ZTBL which stood at Rs 2.283 billion in March 2012. Out of our total 1,277 domestic branches, 875 are involved in catering the needs of farmers. The National Bank of Pakistan is at the top of ‘five’ commercial banks of Pakistan, as it offers complete range of commercial banking services along with agriculture services to farmers under one umbrella.

The Spokesman of the Bank said that NBP has disbursed Rs 42.4 billion in agriculture credit financing among nearly 252,000 farmers during July 2010-June 2011, against a target of Rs 41 billion. The percentage of non-performing loans of NBP was about 5 percent as on December 31, 2011, compared to 15 percent average NPL’s of commercial banks in agricultural. The other distinguishing feature of NBP is the competitive mark up rate, which is lower than the rate being charged by other commercial banks, he remarked.

The NBP, he said took pride in being a key partner in government’s program of achieving food security and poverty alleviation. Syed Ibne Hassan added that the National Bank in 2011 posted pre-tax profit of Rs 26,011 million which was higher by Rs.1, 596 million or 7 percent as compared to last year. The increase was due to higher core revenues, non interest /mark up income and lower provision charge. -Pakistantoday