Introduction of the Banking Industry What is a Bank? It is not so far been decided as to how the word Bank originated.

Some authors opine that this word is derived from the words Bancus or Banque which mean a bench. Other authorities hole the opinion that word Bank is derived from the German word Bauk which means joint stock fund. Later on, when the Germans occupied major part of the Italy, the word Bank was Italianized into Bank. Under English Common Law, a banker is defined as a person who carries on the business of banking, which is specified as;

conducting current accounts for his customers paying cheques drawn on him, and Collecting cheques for his customers.

History of NIB Bank NIB Bank Limited started as NDLC-IFIC Bank Ltd. It was incorporated in March 2003 as a Public Limited Company. It started operations in October 2003 when all assets, liabilities, rights and obligations of the former National Development Leasing Corporation (NDLC) and Pakistan operations of IFIC Bank were amalgamated with and into the Bank with a paid up capital of Rs.1.2bn. In April 2004 the Pakistan operations of Credit Agricole Indosuez were also amalgamated with and into NIB. In March 2005 Temasek Holdings of Singapore acquired 25% shareholding in NIB Bank, through Bugis Investments. This shareholding was further enhanced to over 70% in June '05 following an increase in NIB's paid up capital to Rs 3.4 bn. NIB Bank has since grown rapidly

from a base of 2 branches in 2003 to 45 in the 4th quarter of 2007, with a corresponding increase in its assets and deposits base. NIB Bank's vision is to rank amongst the top 5 banks in the country. Therefore towards the end of June 2007 it acquired majority shares of PICIC with the aim of merging PICIC and its commercial banking subsidiary PICIC Commercial Bank Limited (PCBL) into NIB. The acquisition was financed through the country's largest private sector rights issue, with resultant increase in NIB's paid up capital to Rs.22.0 bn. The PICIC acquisition bought with it another subsidiary "PICIC AMC" and an affiliate "PICIC Insurance". The legal merger of PICIC & PCBL into NIB took place on December 31, 2007, once all regulatory approvals were in place. NIB Bank continues to be led by Khawaja Iqbal Hassan, supported by four business heads and ten business enabling function heads. The merger resulted in a vastly expanded branch network and total assets of Rs 176.6 bn on merger date. NIB has the highest paid up capital of Rs. 40.4 bn amongst all banks in Pakistan. Merger synergies include lower cost deposits, enhanced customer service delivery channels and overall improved efficiencies. These help provide a competitive edge in the face of increasing competition in the banking sector. Temasek Holdings continues to be the largest single investor in NIB Bank with approximately 74% shareholding. The powerful franchise of the three merged entities has been brought together to form a much larger and stronger bank to complete in the market place. NIB Quick Facts
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NIB started as NDLC-IFIC Bank which was incorporated in March 2003, as a public limited company Started operations in October 2003 with paid up capital of Rs. 1.2bn with amalgamation of NDLC and of IFICs Pakistan operations and their assets & Liabilities, and subsequently those of Credit Agricole Indosuez Pakistan in April 2004 Temasek Holdings acquired 25% shareholding in NIB in March 2005 through Bugis Investments which was enhanced to over 70% in June 2005 NIB has branches all over Pakistan.

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NIB vision is to rank amongst top 5 banks in Pakistan. Therefore it acquired majority shares of PICIC on June 28 2007, which gave control of its subsidiaries (a commercial bank PCBL, an asset management company - PICIC AMC and PICIC Insurance).

Legal merger of PICIC & PCBL into NIB took place on 31st December 07, once all regulatory approvals were obtained. Total assets as of March 31, 2011 are Rs. 150 bn. Present paid-up capital of Rs. 40.4 bn is amongst one of the highest in banks in Pakistan. Temasek Holdings remains the largest single shareholder with approximately 74% shareholding. NIB has over 2900 employees.

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NIB business units include: Retail Banking and Transaction Banking Small Medium Enterprises and Commercial Banking Group Corporate and Investment Banking Group / Financial Institutions Treasury of Capital Market Group

These are supported by 12 business enabling functions. Nature of the Organization:

Our Mission:
To improve the quality of life for millions

Our Vision:
To be the most admired Financial Institution in Pakistan

Our Core Purpose:

Enabling success; Realizing dreams

Our Values:
PASSION RESPECT INTEGRITY EXCELLENCE FAIRNESS

Passion

I am driven

I am committed I am determined I believe in what I do I embrace life

Respect

I appreciate different viewpoints I am receptive to the diversity of ideas I treat others as I would want to be treated I look after the community in which we live and work I contribute to the care and comfort of those around me

Behaviors: Integrity I do what I say I am honest and forthright I never compromise my values I am open and honest in all my dealings I have the courage to stand up for what I believe to be true

Excellence I strive for better I exceed expectations I am constantly improving I always try to get it right the first time I produce error free, superior quality work Fairness

I am impartial I judge on merit I dont expect favors I listen to both sides I reward what you do not who you are