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NIB Bank
NIB Bank was a Pakistani bank which was based in Karachi, Pakistan. It was formed in 2003 as a result of merger of IFIC Bank and the National Development Leasing Corporation (NDLC), and this newly formed entity was called the NDLC-IFIC Bank (NIB). The bank was established through the efforts of Khuwaja Iqbal Hassan and Sultan Ali Allana (now Chairman, HBL). In 2004, soon after NIB's creation, Fullerton Financial Holdings a subsidiary of Temasek Holdings acquired a majority stake in the bank. This was one of the largest Direct Foreign Investment in Pakistan at that time. Fullerton Financial Holdings at that time, had stakes in banks across Asia and ran highly successful SME and Commercial businesses. Their models were adopted in NIB Bank and the Pakistan banking industry saw its first structured commercial and SME lending programs. As of Dec 31, 2015 NIB Bank had a paid up capital of PKR 103 billion and total assets of PKR 243 billion. The bank had presence in 52 cities in Pakist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PICIC Asset Management Company
Pakistan Industrial Credit and Investment Corporation (PICIC) is a financial institution in Pakistan, one of the first development finance institutions established with the World Bank Group assistance in 1957. In 2007, PICIC Commercial Bank was bought by Singapore owned NIB Bank. History PICIC Insurance Limited is a part of the Temasek Holdings. NIB Bank Limited, a Temasek's subsidiary in Pakistan, is a major shareholder of PICIC Insurance Limited with a 30% stake. Temasek Holdings is an investment company owned by the government of Singapore The Government of Singapore is defined by the Constitution of Singapore to mean the executive branch of the state, which is made up of the president and the Cabinet. Although the president acts in their personal discretion in the exercise ..., through which is managed a portfolio of more than US$100 billion, focused primarily in Asia. Leaders of PICIC Insurance Ltd announced in 2016 that Sakib Berjees along with a consortium of in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mergers And Acquisitions Of Pakistani Companies
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is a legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. A deal may be euphemistically called a ''merger of equals'' if both CEOs agree that joining together is in the best interest of both of their companies. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. In most countries, mergers and acquisitions must co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Based In Karachi
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 2003
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of Pakistan
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PICIC Commercial Bank
PICIC Commercial Bank Limited was a Pakistani bank based in Karachi, Pakistan. Pakistan Industrial Credit and Investment Corporation (PICIC) acquired it as Gulf Commercial Bank Limited in early 2001. The bank was renamed as PICIC Commercial Bank Limited. In 2007, the bank and its operations were merged into NIB Bank. History PICIC Commercial Bank Limited was incorporated in 1993 as Schön Bank Limited and commenced its business on 4 April 1994, with a paid-up capital of PKR 500 Million. In 1997, Al Ahlia Portfolio Securities Company, Sultanate of Oman acquired the major shareholding and changed the bank’s name to Gulf Commercial Bank Limited. In February 2001, the bank’s management again changed when Pakistan Industrial Credit and Investment Corporation acquired 60% controlling shares from Al-Ahlia and changed its name to PICIC Commercial Bank in May 2001. At the time of takeover by PICIC in February 2001, the Bank had only 15 branches. It was the 6th largest bank in the c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crédit Agricole Corporate And Investment Bank
Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB, formerly Crédit Agricole Indosuez then Calyon) is Crédit Agricole's corporate and investment banking entity. With a staff of 8,940 employeesActivity report 2021 (excluding private banking) in 32 countries, Crédit Agricole CIB is active in a broad range of capital markets, investment banking and financing activities. Clients are primarily corporates, governments, and banks, with a small footprint in the investor segment. History Crédit Agricole Indosuez (CAI) was created in 1996 with the purchase of Banque Indosuez by Crédit Agricole. Calyon was created in May 2004 by the transfer to CAI of assets from Crédit Lyonnais' Corporate and Investment Banking division. The division was rebranded Crédit Agricole Corporate & Investment Bank (CACIB) in February 2010. In September 2022, Xavier Musca has been appointed CEO of CACIB, in replacement of Jacques Ripoll Business Lines Its activities are arranged int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Temasek Holdings
Temasek Holdings (Private) Limited, or simply Temasek, is a Singaporean state holding company owned by the Government of Singapore. Incorporated on 25 June 1974, Temasek owns and manages a total of US$496.59 billion (S$671 billion) in assets under management (AUM) as of December 2022. Its net portfolio is US$287 billion (S$403 billion) as of 2022, with S$37 billion divested and S$61 billion invested during the year. Its one-year total shareholder return (TSR) was 5.8%, with longer term 10 and 20-year TSRs at 7% and 8% respectively, compounded annually. Its TSR since inception was 14%, compounded over 48 years. Headquartered in Singapore, it has 12 offices in 8 countries around the world, including in Beijing, Hanoi, Mumbai, Shanghai, Shenzhen; and London, Brussels, New York, San Francisco, Washington, D.C. and Mexico City outside Asia. It is an active shareholder and investor, with four key structural trends guiding its long term portfolio construction – Digitisation, Sus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IFIC Bank
govt shaere:35% The International Finance Investment and Commerce Bank Limited is a first generation Bangladeshi private commercial bank. The bank is ensuring cutting edge service with skilled workforce and revolutionary fintech support through more than 695 hundred modern business centers (Branches and Sub branches). It has extended its global corporate footprint in the form of Joint ventures and subsidiaries in Nepal, Oman and the UK History International Finance Investment and Commerce Bank Limited (IFIC Bank) is a banking company incorporated in the People's Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and Sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions aboard. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a ful ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
