In 2007, NBP’s Tier 1 capital grew by 33% to $1.09bn, while assets expanded by 19.9% to $12.5bn and pre-tax profits were up 7.1% to $465m.
NBP has introduced a number of new liability products for higher deposit mobilisation. It is also focusing on small and medium-sized enterprises, which have huge potential, and is also investing heavily in investment technology.
NBP and the banking system in Pakistan as a whole has not been impacted by the recent turmoil, due to limited international exposure, and none to the subprime crisis. The banking system, however, is still going through fundamental reform.
“It is a great honour for NBP to have been awarded the Bank of the Year award, the fifth in the past seven years,” says chairman and president Syed Ali Reza.
