National Bank of Pakistan-the nation's bank.
Pakistan is one of the key emerging markets of South Asia with a total population of over 140 million people. Pakistan's GDP is expected to grow at 3.6% during the year 2001-02. .
The banking sector in Pakistan consists of Commercial Banks, Specialized Banking and other non-banking financial Institutions.
The key trends in the banking sector are as follows:.
.
Increased Merger & Acquisition activity in the banking sector with local private banks having made several domestic acquisitions.
Large expansion of branch network and deposits by private and some foreign banks.
Rationalisation of branches by nationalised banks .
Increased focus towards consumer finance .
Increased focus on attracting local rupee deposits .
Increased emphasis towards automation and customer service .
Reduction in the increase in non performing loans as a result of better governance of banks and greater accountability process initiated by the government .
Significant increase in inward remittance business as a result of governmental clamp down on unofficial remittance channels following September 11.
Management Situation.
National Bank of Pakistan maintains its position as Pakistan's premier Bank determined to set higher standards of achievements. It is the major business partner for the Government of Pakistan with special emphasis on fostering Pakistan's economic growth through aggressive and balanced lending policies, technologically oriented products and services offered through its large network of 1431 branches locally, 24 branches internationally and representative offices.
Improved financial performance. The performance of the NBP has improved considerably in the years 2000 and 2001 on account of the following:.
.
Induction of professional management.
The performance of NBP has significantly improved as the restructuring process initiated in these banks since the year 1997 has begun to show positive results.