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Frequently Asked Questions General Banking Can you tell me about the NIB Bank, PCBL and PICIC merger? OR What is the change in ownership?   NIB Bank acquired majority share holding of PICIC and full control of PCBL and PICIC in June 2007. NIB Bank’s acquisition of PICIC is one of the largest foreign investments in Pakistan’s banking industry. Principal shareholding of NIB Bank will continue to be with Temasek Holdings (Pte) Ltd, investment arm of Government of Singapore. Rest assured that as an existing customer of NIB Bank, PCBL or PICIC, there will be no impact on you. Please continue to use your account / facilities as per normal and we look forward to serving you even better.   What is NIB Bank?   NIB Bank is the fastest growing financial power house in Pakistan. NIB Bank Ltd was incorporated in March 2003 as a public limited company. In October 2003, all assets and liabilities and all rights and obligations of the former National Development Leasing Corporation (NDLC) – one of the leading leasing companies in Pakistan, and Pakistan operations of IFIC Bangladesh were amalgamated with and into NIB Bank. In April 2004, NIB Bank also acquired the Pakistan operations of Credit Agricole Indosuez. Growth story of NIB Bank is a unique one. In a short span of four years, NIB Bank is proudly serving nearly half a million customers through wide distribution footprint across 60+ small and large cities of Pakistan. Becoming the 6th largest bank in Pakistan is just one dimension of our growth story. Commitment of NIB Bank’s shareholder can also be gauged through its enormous paid-up capital of Rs.27.5 Billion, second largest in the Pakistan Banking industry. All this is to make sure that you feel safe and confident of your bank. Majority Shareholding of NIB Bank Limited is with Temasek Holdings of Singapore.   What is Temasek Holdings?   Temasek Holdings is the investment arm of the Government of Singapore which owns and manages Singapore Government’s diversified direct investments in Singapore and overseas worth over US$ 100 Billion. It is rated ‘AAA’ by Standard & Poor’s and ‘Aaa’ by Moody’s. Temasek Holdings is a major shareholder in companies ranging from banking and financial services to ports, shipping and logistics, airlines, telecommunications and media, power, utilities and rail services, as well as pharmaceuticals and biosciences. Some of the prominent ownerships of Temasek Holdings include Singapore Airline, DBS Bank of Singapore, Standard Chartered Bank, SingTel and Port Authority of Singapore. Through its directly and indirectly owned subsidiaries Temasek Holdings has begun to increase its investments in the Asian banking and financial sector. Investments also include stakes in Bank Danamon Indonesia, Bank International Indonesia, ICICI Bank in India, Hana Bank in Korea. Temasek Holdings exposure to Pakistan has recently increased tremendously, with SingTel acquiring a substantial stake in Warid Telecommunication Limited and Port Authority of Singapore securing a long term management contract of Gawader Port.   Will my Personal Banker remain the same?   Yes, your Personal Banker will remain the same regardless of the institutions you were banking with before.   How will the change in ownership benefit me? OR Do I get the same services from the new organization?   As one of the fastest growing banks in Pakistan, we would like to assure you that there will be no interruption to the service you are currently enjoying and it will be the same friendly faces serving you. As NIB Bank, we look forward to serving you even better with new and enhanced products and services. You will have the benefits of reaching us with ease through any of our 240 branches, in more than 60 cities across Pakistan. NIB Bank will provide you the benefit of transaction ease through the 6th largest distribution network of the country and a network of more than 100 ATM’s across Pakistan.   How will the merger affect the day-to-day operations of my account?   The merger will not affect the daily operations of your account and it will continue as business as usual. Presently, there will be no change to the services you are enjoying. Any change in the future will be advised to you well in advance. NIB Bank is recognized for its innovative products and services which will be made available to you in the near future.   Will there be any branch closures? OR Will there be change in the branch?   No, we do not expect a reduction in branches. Incase of any relocation you will be advised and communicated well in advance. You will continue to enjoy the accessibility and convenience of 240 branches and more than 100 ATMs of NIB Bank. To make sure that you benefit from this ever increasing branch network, we are endeavoring to provide online banking services through all NIB Bank branches.   Is there any change in the bank’s contacts i.e. telephone number/address?   There will be no changes in contact numbers and addresses. We will advise all customers of such changes if and when this is necessary.   What will be the minimum balance requirement of maintaining the account after the merger?   The current Terms & Conditions of your account will continue to apply and therefore the minimum balance requirement will remain the same. Incase of any change, you will be informed well in advance.   What happens to my account number(s) after the merger? OR Will my account number change?   Your account number will remain the same until further notice. However, we plan to introduce state of the art banking system through the network during 2008. As a result of this, we may be required to change your account number. Any changes will be communicated to you well in advance.   Will I be able to use NIB Bank’s Phone Banking as a PCBL or PICIC customer?   Yes, you can continue to use the existing PCBL, PICIC or NIB Bank Phone Banking services. Incase, you require further information you can always contact NIB Bank’s 24/7 Phone Banking Center at 0800-00039.   I have accounts at both NIB Bank, PCBL and PICIC (or any two of them). Will my accounts be merged? Should I close one of the accounts?   Your accounts will not be merged. Please continue with your usual banking practice unless you make a specific request to consolidate your accounts with us.   Can I continue to use my old PCBL cheque book?   Yes, you can continue using your existing PCBL cheque book. When you run out of cheques, we will issue you a new cheque book of NIB Bank.   Will I need to provide new account opening documentation when my accounts are transferred to NIB Bank?   No, you do not have to complete new account opening forms. However, if there is any missing or incomplete information, our branch staff will be contacting you shortly.   Will the Profit Rates on savings and term deposit be changed?   The profit rates of your savings and term deposits will not be changed until your existing contract expires.   When will NIB Bank charges (Schedule of Charges) start to apply?   Your present schedule of charges would apply till June 2008. Any changes will be communicated to you in advance by your branch manager.   What will be the charges for NIB Bank Ltd. customers calling PCBL and PICIC Call Centre (and vice versa) for statements, issuance of Purchase Order / Demand Drafts etc.?   Existing charges (as per Schedule of Charges) will continue to be applied and any changes will be advised to you in advance.   As ex-PCBL customers, will we have access to NIB Bank’s products?  Will there be new products and services offered to us?   We will be introducing innovative NIB Bank products and services across the entire network on priority.   Will the merger mean that NIB Bank will now have access to my bank information at PCBL/PICIC?   Upon merger, there will only be one banking entity (NIB Bank) and the applicable regulations of State Bank of Pakistan with regard to customer confidentiality will be adhered to.   Will I be able to transfer funds online via Phone Banking as well as from the branches, from my PCBL or PICIC account to NIB Bank account and vice versa after the merger?   a) Branch Service Transfer of funds will be possible between your PCBL/PICIC and NIB Bank branch accounts and vice versa. This service will be available from any of your NIB Bank branches. b) Phone Banking Service This service for the time being will not be available as part of Phone Banking Services. As soon as this service is available you will be informed. In case, you require any help, please visit your nearest branch or call 0800-00039 at your convenience.   Can I continue using my PCBL ATM/Debit card?   Yes, you can continue using your existing ATM Card at 100+ NIB Bank ATMs, and at other 1-Link ATMs as before.   Will there be more ATMs accessibility after the merger?   NIB Bank has a robust growth plan. In the near future, you will have access to an even wider network of ATMs and branches.   Will I be charged Rs. 15/- on using ATM facilities of other banks?   Customers will be able to use NIB Bank ATMs absolutely free of charge regardless of the institution (PCBL, PICIC or NIB Bank) you were banking with before merger. This network now consists of 100+ ATMs located across Pakistan. The use of ATMs of any other banks will attract charges.   What happens if I have given post-dated PCBL cheques as security for a loan, rent or otherwise?   All such cheques will be honored accordingly.   If I receive a fund transfer stating my old account number, will it be credited to my account?   Yes, you will be credited those funds in your respective account. It will be helpful if your branch name is also written on your instrument.   Will all my instructions related to my account remain valid?   Yes, all your instructions related to your account with PCBL and PICIC will remain valid in NIB Bank after the date of amalgamation, unless we are advised to change by the customer or NIB Bank informs you of any change in advance.   Do I need to give different SWIFT codes for my inward remittances from abroad?   Not right now. Any change will be communicated to you well in advance.   I receive my salary/pension into my PCBL account. Is there anything I need to do?   There is absolutely nothing you need to do. Your salary/pension will continue to be remitted to your designated account as it is.   I have some remittances in the pipeline/I am expecting some remittances. What will happen to them?   Rest assured that your outgoing/incoming remittances will be executed as instructed.   If I have an Auto/Home loan from both PCBL and NIB Bank would my limit be clubbed and what would be the mark-up?   If there is a change in your account, you will be advised well in advance. These cases would be handled in accordance with the prudential regulations issued by State Bank of Pakistan.   I have loans at both PCBL and NIB Bank. Will the loans be consolidated and reduced?   The existing credit facilities that you have at PCBL, PICIC and NIB Bank will remain unchanged. Please continue to use these accounts as you currently do. In future, if there is any change, you will be advised well in advance.   What will be the Turnaround Time for the disbursal of loan (Auto/Personal) after the merger?   The Turnaround Time for the disbursal of loan will remain unchanged.   Will the mark-up rate change on my existing loan/loans?   There will be no change in your existing contract till renewal.   Will the process/policy be the same for settlement for PCBL and NIB Bank Personal Loan/Auto Loan?   The early settlement process/policy as per the signed agreement at the time of filling out the application will be applicable.   What will be the Turnaround Time for issuance of NOC after the settlement/maturity of my loan after the merger?   The Turnaround Time for issuance of NOC after the settlement/maturity of your loan will remain unchanged.   Will PCBL/PICIC credit criteria change after the merger?   Credit approval process may change post merger. However, we will make all possible efforts to minimize change for our existing customers with good credit history.   I have outstanding loans/guarantees at PCBL or NIB Bank. Will there be any change in pricing and terms and conditions? Do I need to do anything differently?   The existing Terms & Conditions of credit facilities that you have with PCBL, PICIC or NIB Bank will remain unchanged till next renewal/expiry of contract. Please continue to use these accounts as you currently do. In future, if there is a change, you will be advised well in advance.