About NIB - NIB Quick Facts

NIB Quick Facts


NIB started as NDLC-IFIC Bank which was incorporated in March 2003, as a public limited company Started operations in October 2003 with paid up capital of Rs. 1.2bn with amalgamation of NDLC and of IFIC’s Pakistan operations and their assets & Liabilities, and subsequently those of Credit Agricole Indosuez Pakistan in April 2004 Temasek Holdings acquired 25% shareholding in NIB in March 2005 through Bugis Investments which was enhanced to over 70% in June 2005 NIB has grown rapidly from 2 branches in 2003 to around 240 post merger in the first quarter of 2008, with a corresponding increase in its deposits and assets base NIB vision is to rank amongst top 5 banks in Pakistan. Therefore it acquired majority shares of PICIC on June 28 2007, which gave control of its subsidiaries (a commercial bank –PCBL, an asset management company - PICIC AMC and PICIC Insurance). NIB also has a shareholding in NAFA, an asset management company, along with National Bank of Pakistan and Fullerton Asset Management Company Legal merger of PICIC & PCBL into NIB took place on 31st December ’07, once all regulatory approvals were obtained. Number of branches then increased from 45 to 240 Post merger NIB total assets increased to Rs. 176.6 bn as of 31st December 2007, further increasing to Rs 180 bn as of 31st September ’08. Present paid up capital of Rs. 40.4 bn is highest amongst banks in Pakistan o NIB is now the 7th largest bank in Pakistan in terms of branch network. Temasek Holding remains the largest single shareholder with approximately 74% shareholding NIB has almost 4900 employees. NIB business units include: Small Medium Enterprises and Commercial Banking Group /li> Corporate and Investment Banking Group / Financial Institutions Consumer and Small Enterprise Group Treasury These are supported by 10 business enabling functions.