NIB Bank

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)
Atif R. Bokhari (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

Atif R. Bokhari is the President and Chief Executive Officer of NIB Bank. He joined the Bank on 7 January 2015.

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

History

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

Revenue PKR .75 billion
Advances PKR .66 billion
Deposits and other accounts PKR .11 billion
Total Assets PKR .57 billion

[1][3]

References

  1. 1 2 "NIB Bank Annual Report 2014" (PDF). Nibpk.com. Retrieved 2015-05-04.
  2. 1 2 3 "Pakistan Banks' Association". Pakistanbanks.org. Retrieved 2015-05-04.
  3. 1 2 "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. 1 2 "Home". Temasek.com.sg. Retrieved 2015-05-04.
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