Write a note on national bank of Pakistan or Discuss the role of national bank of Pakistan in the development
NATIONAL BANK OF PAKISTAN :-
In 1949, India refused to purchase our jute government of Pakistan decided to solve the problems of East Pakistan farmers. In November 1949, the NBP was established to purchase the jute. The NBP performed this job very efficiently up to June 1950. Later on it started the commercial banking.
Now this authorized capital in Rs. 2.5 billion. While its issued and paid up capital is Rs. 1.46 billion. The Govt. has also offered 49% on NBP shares in the stock exchange for sale.
The NBP is the most popular bank in the country. Its total deposits were more than Rs. 310 billion at the end of the year 2000.
The national bank made advances Rs. 145 billion in the form of long run and short run period up to December 2000. It has written off bad debts of Rs. 2.6 billion in the year 2000.
Its profit is also increasing every year during the year 2000 it had earned more than one billion rupees. It is the most profitable institution.
Its branches inside and outside the country are more than 1420.
Trustee Of The Govt. :-
The NBP acts as a trustee of the government and Semi government financial institutions. It was also the trustee of the NIT. In 2001 NIT was merged in the National Bank and all the deposits and liabilities were transferred to him.
Agent Of State Bank Of Pakistan :-
Where the SBP branches are not available NBP performs the duty of SBP agent.
Increase In Investment :-
The NBP takes keen interest in doing the investment. It has improved its managements. Its total investment in Federal and Provincial government securities increased up to Rs. 115 billion at the end of year 2000. The total investment in various instruments of debt were Rs. 2.6 billion.
Financing To Trade :-
The NBP has played very important role in financing the domestic and international trade. It has provided finance more than Rs.47.76 billion to the traders.
Use Of New Technology :-
It is using the latest technology like E-Commerce and Electronic Banking in its branches. The use of technology has improved its quality of services.
The NBP is playing very effective role in the development of Pakistan. It is playing proper attention to the human resources development.