NIB Bank

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NIB Bank
Public Limited Company
Traded as KSE: NIB
Industry Banking
Capital Markets
Founded October 2003 (2003-October)
Headquarters PNSC Building, Karachi, Pakistan
Key people
Teo Cheng San, Roland (Chairman)
Yameen karai (President and CEO)
Products Deposits, Consumer Loans, Wealth Management, Trade Finance, Working Capital Finance, Seasonal Finance and Medium Term Finance, Transaction Banking, etc.
Services Retail Banking Commercial Banking Corporate and Investment Banking
Revenue
Subsidiaries PICIC Asset Management Company (PICIC AMC)
Website NIB Bank

NIB Bank is one of the largest foreign banks in Pakistan. It was formed in 2003 after the merger of National Development Leasing Corporation (NDLC) and IFIC Bank. NIB Bank has a paid up capital of PKR 103 billion. The Bank has presence in 52 cities in Pakistan, and has over 170 branches which are connected online. NIB Bank has about 3,000 employees and its head office is in the city of Karachi. NIB Bank’s main business units include Retail Banking, Commercial Banking, Corporate and Investment Banking and Treasury Services. The Bank competes with all other major banks operating in Pakistan.[2]

Senior management[edit]

Atif R. Bokhari was the President and currently the Chief Executive Officer of NIB Bank is Yameen Karai.

Teo Cheng San, Roland has been an independent Chairman of the Board of NIB Bank since 1 August 2011.[2][3][4][5]

History[edit]

NIB Bank completed ten years of operations in 2013. The Bank came into being in October 2003 after two financial entities were merged: the National Development Leasing Corporation (NDLC) and IFIC Bank. The new bank was named NIB Bank. As NIB Bank grew, it continued to acquire more banks. The Pakistan-based operations of Credit Agricole Indosuez were acquired in April 2004. In 2007, PICIC Commercial Bank Limited was also acquired by NIB Bank.

Temasek Holdings of Singapore continues to be the single largest investor in NIB Bank, through its wholly owned subsidiary, with a stake in excess of 88%.[2][5]

Financial indicators – financial year 2014[edit]

Advances PKR 93.664 billion
Deposits and other accounts PKR 105.110 billion
Total Assets PKR 193.568 billion
Net Assets PKR 15.655 billion

[1][3]

References[edit]

  1. ^ a b "NIB Bank Annual Report 2014" (PDF). Nibpk.com. Retrieved 2015-05-04. 
  2. ^ a b c "Pakistan Banks' Association". Pakistanbanks.org. Retrieved 2015-05-04. 
  3. ^ a b "Atif Bokhari to join NIB Bank as President | Business Recorder". Brecorder.com. 2014-12-23. Retrieved 2015-05-04. 
  4. ^ "Officer Profile | Quotes | Reuters.co.in". In.reuters.com. Retrieved 2015-05-04. 
  5. ^ a b "Home". Temasek.com.sg. Retrieved 2015-05-04. 

External links[edit]