NBP reports Rs 97 billion record revenue in 2018

Corporate Ambassador/KARACHI: The 70th Annual General Meeting of National Bank of Pakistan was held in Karachi on Thursday, March 28, 2019. The meeting was attended by all the Directors of the Bank and was chaired by Mr. Arif Usmani, the President / CEO of the Bank.

The shareholders were apprised that maintaining its position in the industry, in 2018, the Bank had recorded solid growth in terms of both balance sheet size and revenues. Despite a generally difficult year for the banking industry, the Bank has achieved the highest ever revenue in its history of seven decades, which is also highest in the industry for the year 2018. Total revenue of the Bank amounted to Rs. 96.9 billion which is 13.6% higher than Rs. 85.3 billion of previous year. While net interest/mark-up income increased by 11.8% to Rs. 60.7 billion (2017:Rs. 54.3 billion); a 16.7% growth was also achieved in non-interest / mark-up income which stood at Rs. 36.2 billion.

nbp ho image with new logo final

Profit before provisions amounted to Rs. 41.0 billion which is 11.4% higher than Rs. 36.8 billion for the year 2017. During the year, the Bank recognised significant increase in loan-loss & other provisions which amounted to Rs. 11.3 billion as against Rs. 1.2 billion in the prior year. This is mainly due to default by a single borrower group which has been fully provided for. Therefore, the after-tax profit for the year ended lower by 13.1% against previous year and amounted to Rs. 20.0 billion (2017: Rs. 23.0 billion). This translates into earnings per share of Rs. 9.41 (2017: Rs. 10.82). Pre-tax and after-tax return on average equity stood at 21.8% and 14.7% respectively.

The Bank also recorded a healthy growth in balance sheet size as total assets stood at Rs. 2.8 Trillion depicting a 11.7 % growth YoY. The Bank’s gross loans & advances crossed the Rs. 1 Trillion mark and increased by Rs. 202.5 billion. The Bank’s deposits also crossed Rs. 2 Trillion mark as the same increased by Rs. 284.3 billion during the year. For better liquidity and rate-risk management, the Bank maintains a healthy portfolio of investment in low risk securities.

The CEO apprised the shareholders that 2019 marks the Bank’s 70th year of service to the Nation. NBP is continuously expanding its market outreach through adding to its product range, restructuring its business model, and adopting modern-day delivery strategies. Provision of services through Alternate Delivery Channels and Customer Service Quality are also key focus areas of the Bank. The CEO emphasised for strengthening compliance & controls, upgrading technology infrastructure, digitisation of business, improved customer service and better loan quality.

The shareholders, after detailed deliberations, unanimously approved the Annual Financial Statements for the year ended December 31, 2018 and all other items on the Agenda of the meeting.

Apex Court okays Rs460bn offer of Bahria Town to settle Karachi land’s issue

Supreme court accepts Bahria Town offer

Corporate Ambassador/ISLAMABAD: The Supreme Court of Pakistan has accepted Rs 460 billion offer of Bahria Town to settle Karachi’s lands that BT occupied in the Malir district of Karachi. The Apex Court also restrained the National Accountability Bureau (NAB) from filing references against against Bahria Town in this case.

Last week the apex Court last week had reserved its ruling on whether or not to accept a fresh offer by the Bahria Town (Pvt) Limited to settle a case pertaining to its Malir or Karachi Super Highway project in lieu of payment of Rs450 billion.

A three-judge bench of the court had taken up the implementation of its May 4, 2018 judgement in which it was held that grant of land to Malir Development Authority (MDA) by the Sindh government, its exchange with the land of Bahria Town and anything done under the provisions of the Colonisation of Government Land Act 1912 by the provincial government was illegal and “of no legal existence”.

The land was granted for launching an incremental housing project, but instead of launching such a scheme, the MDA exchanged it with Bahria Town that launched a scheme of its own, the judgement had held.

The apex court had clarified that it would recognise only the site plan of Bahria Town, Malir, identifying 16,896 acres in the district that had been signed both by the developer and the Space and Upper Atmosphere Research Commission.


15th Cororate Ambassador Awards _ Another Superb ceremony in Karachi

15th Awards backdrop March16

By J. Choudhry/KARACHI

Thespianz Theater’s String Puppets live performance and National Songs enthral the participants of the awards ceremony.

The 15th Corporate Ambassador Awards organized in Karachi on March 16, 2019, at Beach Luxury Hotel, was another superb ceremony in which several important personalities participated.

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Two new innovative changes were made in the format of the Corporate Ambassador Awards _ First was the live string puppets performance by Thespianz Theater and second change was six national songs presented by famous singer Sidra Tahir, Farzana Mirza and Hassan Mirza, The aim of including national songs in this ceremony was to promote national enthusiasm in the people as the 15th Corporate Ambassador Awards ceremony was organized close to March 23 (Pakistan Resolution Day).

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Shaukat Mahmood, NBP Group Chief, was the Chief Guest of the awards ceremony while President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Daroo Khan Achakzai was the Guest of Honour. CEO AJ Sports Syed Amin Ullah Hussaini, Secretary General America-Pakistan Business Development Forum Syed Nasser Wajahat also participated at Guests of Honour.

FPCCI President and NBP Chief Shaukat Mahmood

Managing Director of Karachi Water and Sewerage Board Assaullah Khan was also scheduled to participate in this awards ceremony, but being a member of Board that is looking after arrangements of the Pakistan Super League (PSL) in Karachi was busy in finalizing arrangements to organize Final match of the PSL. Javed Mahmood, Chief Editor Weekly Corporate Ambassador & Founder of CA Awards organized the ceremony. Sobia Butt, senior educationist and Social Activist of Fixit was the host of the ceremony.

Salman Siddiqui receiving award

Other important guests included CEO Skill Development Kashif Hashmi; CEO Gresham Group Irtiza Sarwar, Col. (Retd) Mukhtar Ahmed Butt, Mubasher Mir, President Karachi Editors Club/TV Analyst and Resident Editor of Roznama Pakistan; Samar Nizam, Managing Director of VNN TV Channel and popular Host of Awaz TV in Karachi; Manzar Naqvi, Secretary-General, KEC and Executive Editor The Financial Daily; Rozina Jalal, renowned Astrologer/TV Analyst; Syed Turab Shah, Group Director Marketing Daily Ausaf, Karachi; Ali Nasir, TV Anchorperson, Dr Shujaat Mubarak, Dean of Business Management/TV Analyst; Muttahir Ahmed Khan, Senior Educationist/TV Analys; Lubna Punjwani, a High-Profile Educationist/Trainers and multi-talented personality. Roomi Syed Bukhari, also a multi-talented personality, attended the awards ceremony. Renowned philanthropists and Social Activists, Dr Lubna Hafeez, Dr Afrozia Tabbassum Chairperson of Tabbo Welfare Society; Rizwana Farooq CEO Nai Roshni School; Famous PTV’s Host Nusrat Haris, Fashion Designer Quratul Ain Kalhoro, Saira Danish, Sharmeen Shafiq Khan, TV Anchorperson Kokab Farooqi and Columnist Kiran Siddiqui also participated in the awards ceremony.

Javed Siddiq Mitiwala, Chairman of Khadm-e-Insaniyat International Welfare Trust, also participated in the awards ceremony.

samar nizam receiving 15th award

15th Awards ceremony was started with Tilawat. Salman Siddiqui, Deputy GM CCD of the Sui Southern Gas Company Limited cited few verses from Holy Quran while renowned Naat Khwan Fozia Sadiq presented Naats.

Quratul Ain receiving award

After Naat, host of the awards ceremony Sobia Butt read the welcome address. Then the live performance of String Puppets was started. The puppets presented Cultural Dance of all the four provinces, Balochistan, Sindh, Punjab and Khyber Pakhtunkhwa, one by one, that was really a mesmerizing performance of the Thespianz team, led by its founder Faisal Malik. In the end the awards were distributed among the winners.

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Background of Corporate Ambassador Awards

Senior Journalist and TV Analyst Javed Mahmood, has taken the initiative of organizing Corporate Ambassador Awards in 2012 in Karachi. To his credit he has more than 28 years’ experience in English Journalism. He has served as Resident Editor of daily The Nation and Pakistan Today in Karachi and currently working as Founder/Chief Editor of Corporate Ambassador.

Ms Rozina Jalal, renowned Astrologer/TV Analyst and Chairperson of 15th Corporate Ambassador Awards Jury for Women Awards presented the Vote of Thanks at the end of the ceremony.

Rozina vote of thanks

A very warm welcome for Dr Afrozia Tabassum at Beach Luxury Hotel before the start of 15th CA Awards ceremony. Founder/President CA Awards Javed Mahmood, Rozina Jalal, Turab Shah and other guests welcomed her.

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Dr Afrozia receiving her award

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Group Photos of Guests

Dr Afrozia

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The purpose of these awards is to appreciate and acknowledge the achievements of the organizations and individuals doing excellent work and to motivate others to seek excellence in their profession, career and work for well-being of the needy people. Since 2012, more than 580 organizations and individuals, including students and social activists, have received this prestigious award. So far 15 awards programs have been organized _ 11 in Karachi and four in Islamabad.

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15th Awards Front Page

Coverage in Daily Ausaf, Karachi.

Daily Ausaf

 The Financial Daily reports 15th Corporate Ambassador Awards ceremony.

TFD reports 15th awards