On March 2003, NIB Bank was incorporated as NDLC-IFIC, as a public limited company. NIB Bank soon commenced its operations in October 2003. The bank paid a total of Rs. 1.2 billion within a year, through their assets and liabilities operations for NDLC-IFIC’s Pakistan and Credit Agricole Indosuez Pakistan were merged in April 2004. In March 2005, Tamasek holds 25 percent share in NIB through Bugis Investment which was further increased to 70% in June 2005.
In Pakistan, NIB has launched many branches and has provided services to more than 450,000 clients. The bank has a lingering network of 179 branches in the country. NIB is known to be the fastest growing network in Pakistan. In personal banking the bank provides the latest and best products and services to the consumer. The banks hallucination is to be categorized amongst top 5 banks of the country. On 28th June 2007 the majority shares of PICIC were acquired by NIB. On 31st December legal amalgamation of PICIC and PCBL into NIB took place, at the same time all the regulatory approvals were obtained.
The employees working in the bank are about 2600. NIB business unit includes Small Medium Enterprises and Commercial Banking Group, Treasury of Capital Market Group, Retail Banking and Transactional Banking, Corporate and Investment Banking Group/ Financial Institutes. Within a short span of time Commercial Banking Group continued its operation in June 2006, with a developed business elucidation expertise in many areas. The banks Investment banking offers corporate restructuring, Advisory services on transaction, business modeling, divestment, privatization etc and a client can raise money by raising or selling securities in the capital market.
NIB’s relationship with other financial Institutes is profitable, which is assured by FIs department. NIB also offers better saving accounts which includes Bancassurance, Loan and Investments and the current accounts of the bank are NIB current Account, NIB Saudagar and Basic Banking Account. In Pakistan NIB is amongst the most competitive treasuries. From custom to traditional solutions they facilitate their consumers by providing products like cash flow management, risk management, liquidity and interest rate fluctuations etc. To fulfill all the financial needs of the client NIB is the “One Stop Solution”, whether its requirement are related to the Foreign Exchange, Mutual Funds, Fixed Income or Money Market Transaction. On July 2009, State Bank of Pakistan (SBP) granted the status of “Primary Dealer” (PD)to NIB, as they are among the 10 selective Financial Institutes.