National Bank of Pakistan have new CEO and Presidnet.

 Ishaq Dar finally find the "suitable" person to head countries largest financial institute National Bank of Pakistan (NBP). Syed Ahmed Iqbal Ashraf Ex group chief NBP now appointed as Chief Executive of the bank.  

Media information issued by NBP said that Syed Ahmed Iqbal Ashraf, Managing Director / Chief Executive Officer of PAIR Investment Company Limited, appointed President and CEO.

Syed Iqbal has over 33 years of International banking experience serving in senior positions in United Kingdom, United States of America, Middle East and Pakistan.

 Ashraf is a Fellow of Association of Chartered Certified Accountants (FACCA) from England, where he was educated. He started his career in banking in UK. After working in the UK, U.S. and U.A.E. for 19 years, he returned to Pakistan.

NBP President post was vacant since July ,2013 after the resignation of Asif Borhi on the allegation of miss conduct. Instead appointment full time CEO newly powered federal government give acting charge to Asif Hassan.

There were very strong roomer  that Munir Kamal will be appointed President and CEO of the bank.  Sources says that his appointment summery was ready and in any day it will be approved by Prime Minister. Munir Kamal also see very closed with PM Nawaz Shareef during youth loan scheme related events.         

Prior to joining PAÏR Investment Company Limited as MD/CEO, Mr Ashraf served as a Group Chief of NBP, as the Deputy Managing Director /Director of Pak China investment Company, and as Managing Director and Chief Executive Officer of Bank of Khyber.

He has also served as Country Head Investment Banking & Head of Financial Institutions for Societe Generale (SG) –The French International Bank of France from 1996 to 2002. His main achievements at SG were the appointment as the Financial Advisor to Privatization Commission of Pakistan for the successful privatization of United Bank Limited. During his tenor with SG, he also successful arranged numerous syndicated facilities as the sole Arranger. He was appointed in the SG consortium as Financial Advisor for privatization of PESCO, by the Privatization Commission.

He has also worked with Habib Bank Limited as Executive Vice President - Head of Investment Banking. He set up Investment Banking function at HBL, and has won numerous mandates.

Agriculture credit disbursement rose 13.5 percent.

 Pakistan Agriculture credit on the rise and farmers are shifting their financial need toward banking system. State Bank of Pakistan issued the six monthly agriculture loan credit figures, which shows that banks disbursed Rs 159.3 billion. Last year banks provide Rs. 140.3 billion  to aggri sector. It shows increased about 13.5 %.

Banks achieved 44% of their annual indicative targets of Rs 360 billion despite multitude of challenges such as high non performing loans, recovery drive, insufficient bank’s infrastructure and overall security and macroeconomic conditions. 

NBP Customers to enjoy Branchless Banking services through UBank

Karachi, August 29, 2013: The strategic alliance between U Bank and National Bank of Pakistan will offer tremendous benefits to the clients. Though, the agreement signed between the two giants is aimed at offering ‘branchless banking’, being part of financial inclusion program, it will change the way people will perform banking transaction.

NBP Relase Halfyearly financial results

 

National Bank of Pakistan recorded after tax profit of Rs 6.0 billion with Earnings per share of Rs. 2.83. Pre-tax return on equity stands at 15.1% with pre-tax return on assets being 1.2%. This was announce by NBP management after the Board of Directors meeting. 

The Board of Directors of National Bank of Pakistan (NBP) in their meeting held on August 22, 2013 at the Head Office, Karachi approved the Financial Statements of the Bank for the six months period ended June 30, 2013.

Total operating revenues increased by Rs. 1,443 million or 4.6% from corresponding period last year. Non-interest income increased by an impressive 24%. Pre provision profit of the bank stood at Rs.15, 844 million which is higher by 5.5% from last year reported number. 

NBP the largest and the most efficient lender to farmer

Among all the financial institutions involved in lending to farmers National Bank of Pakistan (NBP) achieved nearly 120% of its target in agri loans and the second best performer after Allied Bank Limited (ABL), which has achieved 146% of the allocated target for the year ended June 30, 2013.

However, among the ‘Big Five’, NBP is the largest and the most efficient lenders to the farmers. This conclusion can be drawn if one compares NBP and ABL.

The first parameter is over all size of disbursement. While NBP disturbed over Rs57 billion, ABL lent Rs27 billion only.