NIB Bank is Pakistan's seventh biggest bank

KARACHI — NIB Bank became the country's seventh biggest bank following the merger with PICIC and PICIC Commercial Bank. The merger was approved by State Bank of Pakistan (SBP).

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By Our Correspondent

Published: Wed 2 Jan 2008, 9:13 AM

Last updated: Sun 5 Apr 2015, 12:26 PM

With the merger NIB Bank has 240 branches throughout the country and total assets of over Rs185 billion. NIB has also become the second most highly capitalised bank in Pakistan with a paid-up capital exceeding Rs27.5 billion.

Singapore-based Temasek Holding, a financial arm of the Singapore government, remains the single largest investor in NIB Bank and manages an investment portfolio of more than $100 billion spread all over the world.

Apart from commercial banking facilities NIB through its subsidiaries and affiliates, is also an important player in asset management and insurance businesses.

Our Correspondent

Published: Wed 2 Jan 2008, 9:13 AM

Last updated: Sun 5 Apr 2015, 12:26 PM

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