Trade Chronicle March - April 2017

TRADE CHRONICLE
Banking & Insurance
Promotional schemes
announced
The National Bank of Pakistan
(NBP) and Xpress Money has
launched a promotional campaign
where hundreds of remittance
customers sending their remittances
through Xpress Money will be
eligible to win cash prizes worth
thousands of rupees, a statement
said recently.
The NBP is a key player in the
remittance business in Pakistan with
over 1,400 plus online branches, it
added. Any remittance sent from
Xpress Money from around the
world can easily be collected from
any of the NBP branches across
Pakistan, it said. Xpress Money is a
global money transfer brand with a
thriving presence in more than 170
countries across all continents
through 180,000 agent locations.
NBP and Quaid-e-Azam Int’l
Hospital sign MOU
National Bank of Pakistan's
employees and their dependents will
get advanced healthcare services at
affordable costs at one of the leading
hospitals in Islamabad i.e. Quaid-e-
Azam International Hospital,
Islamabad. In this connection, a
Memorandum of Understanding
(MoU) has recently been signed
between National Bank of Pakistan
and Quaid-e-Azam International
Hospital, Islamabad, formalizing a
partnership between the two
organizations that aims to positively
impact the health and wellness of the
employees of NBP.
The Regional Head, Islamabad, Mr.
Farooq Hasan and CEO, Quaid-e-
Azam International Hospital,
Islamabad, Dr. Shaukat Ali, signed the
MoU on behalf of their respective
organizations. The President NBP,
Mr. Saeed Ahmad, and other senior
officials also graced the occasion and
attended the signing ceremony.
Prime Minister
Mian Muhammad
Nawaz Sharif has
appointed Saeed
A h m a d a s
President National
Bank of Pakistan
(NBP). Saeed has
been serving as
Deputy Governor
State Bank of
Pakistan (SBP)
since January 21, 2014 where he had
been actively looking after the
financial markets, Islamic Banking,
Development Finance, Information
Technology, Payment Systems and
Special Initiatives Groups.
Saeed boasts extensive commercial
and investment banking and
management experience. He has
served as Chairman National
The 68th
A n n u a l
G e n e r a l
Meeting of
b a n k o n
M a r c h
30th, 2017.
PM appoints Saeed Ahmad as President NBP
Saeed Ahmad, President NBP
President of the National Bank, Mr.
Saeed Ahmad chaired the meeting of
The shareholders approved financial
statements and cash dividend of
Rs.7.50/- per share as recommended
by the Board of Directors of the
bank. This translates into 78%
dividend payout of the bank’s
distributable profit for the year 2016
(after statutory reserve allocation).
The shareholders were informed
that the Bank achieved 12% growth
in pre-tax profit for the year as it
increased by Rs. 3,925 million from
Steering Committee on
Islamic Finance.
Moreover, Saeed has
played a vital role in the
establishment of three
Centers of Excellence in
Islamic Finance in three
national universities. He is
also Chairperson for
Coordination Committee
for Centers of Excellence
for Islamic Finance Education.
He is a member of Board of
Directors of Securities and
E x c h a n g e C o m m i s s i o n o f
Pakistan (SECP) in addition to
chairing the SAARC Payments
Council which primarily deals
with the exchange of information
a n d e x p e r i e n c e s i n v o l v i n g
payment systems.
NBP reports 18% growth observed in profit
Rs. 33,216
million for
the year
2 0 1 5 t o
Rs. 37,141
million for
the year
2016. After-tax profit amounted to
Rs. 22,752 million i.e. 18% higher
than Rs. 19,219 million of prior
year. This is highest ever profit in
history of the bank translating into
Rs. 10.69 earnings per share.
Despite a generally difficult year
for the banking industry, the Bank
succeeded to record growth in both
interest / mark-up income and fee
based income. The bank achieved a
commendable 16% growth in
deposits and a 13% growth in
advances; whereas its capital &
reserves increased to Rs. 177
billion as of December 31, 2016.
TRADE CHRONICLE - Mar .~April. 2017 - Page # 31