Trade Chronicle July - August Issue 2017

TRADE CHRONICLE
Banking & Insurance News
Re-organization for
responding to the
challenges of tomorrow
Mr. Saeed Ahmed,
after assuming charge
as President National
Bank of Pakistan
( N B P ) , h a s
undertaken major
organizational and
structural reforms
a i m e d t o w a r d s
promoting service
q u a l i t y, b u s i n e s s
g r o w t h ,
empowerment of field
functionaries for improved
turnaround time, and addressing
the challenges posed by the
NBP empowering field for
superior customer service
banking industry, witnessing a
gradual shift from the brick and
mortar concept to branchless
banking.
NBP being the Nation’s
B a n k c o n s i d e r s
provision of banking
services to the masses
(even to the remotest
areas) among its primary
o b j e c t i v e s . T o
m a t e r i a l i z e t h i s
objective and to promote
State Bank of Pakistan
( S B P ) v i s i o n f o r
financial inclusion, the
bank recently established a
separate group for Payment
Services and Digital Banking.
National Bank of Pakistan organized a conference focusing on superior customer relations.
Picture Shows Saeed Ahmad, President, national Bank of Pakistan (Center) and other
participants at the conference.
The President National Bank of
Pakistan (NBP) Saeed Ahmed
during his address to a gathering
of more than 100 NBP regional
management and Head office
staff, from across Pakistan at a
hotel in Karachi, emphasized on
the importance of customer
service to gain competitive
edge. The theme of the address
was “Happy Customers – Our
Success”.
He said that NBP has zero tolerance
for frauds and malpractice and
reminded that personnel involved
will be taken to task.
Saeed Ahmad, President - National Bank of Pakistan (1st right from the plaque)
inaugurating a new building at NBP’s District Courts branch, Bahawalpur.
NBP Half Yearly Financial Results
June 30, 2017
Meeting of the Board of Directors
(BoD) of National Bank of Pakistan
was held on August 24, 2017 at the
Bank's Head Office in Karachi in
which the BoD approved the financial
statements of the Bank for half year
ended June 30, 2017.
Half yearly operating income of the
Bank amounted to Rs. 41.7 billion
(June16 : Rs. 41.8 billion). Bank's net
interest / mark-up income for the half
year amounted to Rs. 26.4 billion
(June16: Rs. 27.6 billion) due to lower
yield on Government securities. Noninterest
/ mark-up income for the half
year recorded growth as it amounted
to Rs. 15.3 billion (June16 : Rs. 14.2
billion). The Bank maintained
interest/mark-up earning for the
period by managing an efficient assetmix
of loans and investments. Aftertax
profit for the six months period
amounted to Rs. 8.6 billion (June16:
Rs. 9.5 billion). This translates into
earnings per share of Rs 4.02.
Profitability of the bank remained
under pressure during the period on
account of lower interest rates and
maturity of high-yielding Pakistan
Investment Bonds (PIBs).
During this period, the Bank achieved
a growth milestone as its balance sheet
size increased to Rs. 2.32 trillion i.e.
18% up against Rs. 1.98 trillion of
December 2016. As of June 30, 2017
Bank's deposits amounted to Rs.
1,740 billion being 5% up against that
of December 2016; whereas gross
advances also increased to Rs. 836
billion i.e. 7% up as compared to
December 2016. The Bank has
recently redesigned its business
model and delivery strategies
introducing modern-day banking
concepts. Customer service quality,
provision of services through
alternate delivery channels and e-
banking products will become key
areas of focus for the Bank.
TRADE CHRONICLE - July .~ Aug. 2017 - Page # 33