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By Abdul Qadir Qureshi (Pakistan News & Features Services)  Despite the numerous changes being faced by the banking industry since February due to the advent of coronavirus (COVID-19), National Bank of Pakistan (NBP) has achieved profit after tax of PKR 15.2 million for the first six months of 2020.  The Board of Directors of NBP met on September 1 during which it approved the condensed interim financial statements of the bank for the half-year ended June 30, 2020. With strong growth in core earnings, NBP reported unconsolidated Profit After Tax of PKR 15.2 billion, up by PKR 4.1 billion or 36.8% compared to the same period last year.  Its net assets increased by PKR 26.4 billion to PKR 259.0 billion from PKR 232.6 billion in December 2019, according to media release issued by the bank’s media department on September 2.  During the first falf 2020, NBP earned gross mark-up/interest income amounting to PKR 145.3 billion which is 49% higher than...

By Abdul Qadir Qureshi ( Pakistan News & Features Services) National Bank of Pakistan (NBP), which recently won a couple of prestigious Asian awards, has announced providing soft loans to the general public under the Prime Minister’s housing scheme, in order to let people build their own houses.  The NBP President, Arif Usmani, during his speech on the Independence Day, hailed the PM housing initiative as a revolutionary programme which would improve the living standard of the common man and besides generating economic activity in the country.  He added that the construction industry had great potential to grow and more than 40 other industries directly linked to it will also be booming with the housing programme.  “As the premier government commercial bank of the country, NBP has recently gone through various policy, structural and technology upgrades which would start yielding within the next six months,” the NBP President remarked.  “...

By Abdul Qadir Qureshi (Pakistan News & Features Services) National Bank of Pakistan (NBP) has been declared as the Corporate Client Institution Award of the Year by the famed magazine Asian Banking & Finance (ABF).  NBP has also won the Best Innovative Deal of the Year Award for Pakistan.  These are acclaimed as the most prestigious banking awards in Asia, having been reintroduced this year to honor outstanding banks that had launched groundbreaking products and services which successfully adapted with the rapidly evolving tech landscape.  The banks with successful deals and innovative initiatives which made a positive impact to their clients were recognized and NBP, one of the leading financial institutions of the country, has earned more feathers to its cap.  Established in 1949, NBP currently has more than 1,500 branches in the country besides have 20 plus branches abroad.

Pakistan News & Features Services Some of the top financial institutions of the country have joined hands to work together to support the low income households in Pakistan during the COVID-19 pandemic.  The initiative was taken by National Bank of Pakistan (NBP) which had hosted a virtual roundtable meeting last month to discuss the issues and challenges facing the Non-Bank Microfinance Institutions (NBMFIs) and their customers as a consequence of the economic slowdown due to the pandemic.  The roundtable was attended by the CEOs of Pakistan’s largest NBMFIs including the National Rural Support Program, Kashf Foundation, Damen Support Program, SAFCO Support Program, Thardeep Foundation, Rural Community Development Program and Agahi.  The consultation, presided over by Arif Usmani, President, NBP, included Zubyr Soomro, Chairman, NBP, and Sadaffe Abid, Director, NBP, who is also Chair of the bank’s Inclusive Development Committee.  The key sector players like the ...

Pakistan News & Features Services The President and Chief Executive Officer (CEO) of National Bank of Pakistan (NBP), Arif Usmani, visited various branches of Karachi on April 13 to assess and evaluate first-hand the safety and security measures made for the customers and employees of the bank. He appreciated the bank employees who, in the face of all the challenges, were performing their duties. NBP has been taking preventive and precautionary measures in its branches by ensuring social distancing and providing hand washing facilities/sanitizers to customers before entering the branches or using ATMs. The presence of the President, alongwith senior management, amongst branch employees was deemed a morale booster for all the entire staff, serving through these hard times. The President, while acknowledging their invaluable services, also advised that all necessary measures must be taken for safety of customers and employees. Arif Usmani also took the time out to talk directly to th...

By Syed Sajid Aziz (Pakistan News & Features Services) The National Bank of Pakistan (NBP), following the directives of the central bank, starting from March 30, will now remain open for public dealing from 10 am to 3.30 pm until further orders.  The working hours at the selected branches will be observed from Mondays to Thursdays while the bank will be open from 10 am to 12.30 pm on Fridays.  The spokesman of the NBP, Ibne Hasan, informed PNFS that the digital banking services and ATM will remain functional round the clock, as usual, and the customers have been advised to ring 111-627-627 for complaints or assistance.  He further disclosed that the NBP management has ensured adequate safety measures at the branches and its offices for the customers as well as the staff in view of the Coronavirus (COVID-19) pandemic. “All the necessary precautions are being taken with emphasis on social distancing in these times for the safety of people,” he ...

By Abdul Qadir Qureshi (Pakistan News & Features Services) The National Bank of Pakistan (NBP) has signed an agreement with Balochistan’s Excise, Taxation and Anti-Narcotics department for the automation of tax collection system across the province. The agreement was signed by Muhammad Farooq, NBP’s Executive Vice President, Payment Services and Digital Banking Group and Fateh Muhammad Khajak, Director General Excise, Taxation and Anti-Narcotics Balochistan.  The NBP President, Saeed Ahmad and Balochistan’s Secretary Excise and Taxation, Zafar Ali Shah Bukhari were also present at the occasion.  The JazzCash is collaborating with NBP in the tax automation project.  Speaking at the occasion, Zafar Ali Shah Bukhari, Secretary Excise, Taxation and Anti-Narcotics, Balochistan, said that earlier the taxes were collected manually through NBP’s branches, which had its own challenges and complications.  Reconciliation of collected money was ...