Karachi: National Bank of Pakistan has planned to expand its overseas network with three branches in Asian countries to Pakistan’s expatriate and business community by next year, officials said.
The bank’s top management has started its efforts to set up branches in the capital of Sri Lanka, Russia and Tajikistan after concluding talks with the banking regulators of the respective countries on the policy and administrative issues.
The bank received demands from the overseas Pakistan and businessmen for many years who have been facing difficulties in transaction of money from different country to homeland.
The banks management has conducted financial feasibility to establish it set in many cities and decided three countries on its priority list.
NBP is presently functioning its overseas network in 18 countries, 22 branches and 10 regional or representative offices. It opened five overseas branches in past three years including one in Riyadh, two in Almaty (Kazakhstan) and two in Dhaka and in Silhouette.
It contributes to nearly 10 percent of the monthly inflows of remittance from various countries.
Overall the bank has more than 1,000 branches and 400 ATM networks that will be made online automated completed by December 2011. Its 280 NBP branches are functioning in far off areas of the country which are not considered viable in terms of profits and where in a radius of 5 kilometers no other commercial bank is operating.
The National Bank provides its services at the doorsteps of account holders of the remotest unbanked areas of the vast and diverse landscape of our homeland, like Lal Sohanra in Bahawalpur, Pind Muneem in Abbottabad, Gambeela in D. I. Khan, Janglote in Gilgit, Rangla in Muzaffarabad, Kuchlak in Quetta and Bagerji in Sukkur areas where other banks do not go due to non-profitability.
Despite this public service role, it might come as a surprise to many that the NBP is the only Pakistani bank that has bagged AAA rating in medium and long term banking against AA+ of other top commercial banks in Pakistan consecutively for the past many years. Also, the NBP heralds an A-1+ in short term banking.
NBP dominates the commercial banking sector with market share of 14 percent in total banking sector deposits. The deposit base has exhibited healthy growth and the bank has maintained strong liquidity indicators.
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