National Bank of Pakistan (NBP) signs Cash & Cheque Management Agreement for Collection Services with NBP Fullerton Asset Management Limited (NAFA). Financial Institutions and Cash Management Division (FI&CMD)/OBG of NBP have concluded Cash & Cheque Collection Agreement with NAFA Funds, wherein all the collections of NAFA countrywide would now be taken care by NBP through its designated branches.
NBP is the largest commercial bank operating in Pakistan; its balance sheet size surpasses that of any of the other banks functioning locally. It has redefined its role and has moved from a public sector organisation to a modern commercial bank. The bank's services are available to individuals, corporate entities and government.
Whereas, NAFA is a non-banking finance company, the main sponsors of NAFA are National Bank of Pakistan and Alexandra Fund Management Ltd, (a member of Fullerton Fund Management Group, Singapore. NAFA's main area of business is Investment Management; more specifically floating and managing mutual funds and discretionary management of institutional portfolios.-PR