The National Bank of Pakistan (NBP) has a current foreign trade operations of $15 billion and its target is $29 billion within three years. This was stated by NBP President Ali Raza while talking to newsmen during a short break in the 'Overseas Conference 2005' organised by the bank in its Head Offices on Monday.
He said that NBP has plans to channel most of the envisaged $6 billion earthquake relief donations from abroad through its foreign branches. He said he had asked his overseas staff to scoop at least 60 to 70 percent of the relief funds originating from overseas.
Raza said that the bank had charted a comprehensive plan for further improvement in the bank. The bank would have more operations world-wide by opening new branches and developing the existing branches for a wider role by providing immaculate banking services to its customers. The bank has already opened branches in Kabul, Central Asia and Chittagong (Bangladesh) and has reached an agreement with Saudi Arabia to open a branch there within 6-8 months.
The NBP President said that currently its trade volume was $40 billion and it was increasing at the rate of 15 percent per annum. The trade volume would probably increase to $65-70 billion within a short span of 3-4 years, he added.
He said that the bank had been given the task of collecting earthquake relief fund and it is in a better position to play its role in the facilitation and rehabilitation of the earthquake victims. "We have 50 branches in Azad Kashmir and are in a position to be a driving force behind the relief and rehabilitation programme," he added.
He said that 10 branches of his bank were damaged in earthquake but they would be reconstructed in a short time. "The bank has Rs 20 billion currently for the earthquake victims and the bank would take active part in the rehabilitation process", he added. The bank would not levy any bank charges on the remittance and deposits of the earthquake relief fund in respect to the suffering humanity of the affected.
The NBP President said that its liquidity management had improved considerably. It was also encouraging that Moody had recently upgraded the Bank's rating from E to D, he said.
He was asked whether NBP had any indication that it would be allowed to open its branches in India. He said that the government had not given any signal to the bank in this regard but he was optimistic about it.
The NBP had arranged the Overseas Conference to assess operations, progress and general condition of its overseas branches. The conference heard the reports from the heads of overseas branches and the bank President put in his words of approval, advice and concern at different intervals. The NBP Chiefs of Operations had converged here from 21 countries including Canada, Central Asia, Europe, Far East, Middle East and USA.
Comments
Comments are closed.