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branches and presently 17 ATMs are operational in major cities.Branch Network: (As of September, 2007)1236 Domestic Branches, 18 Overseas Branches,4 Representative Offices, 5 Subsidiaries and a Joint Venture.Overseas Branch Network:Paris, Frankfurt, New York, Washington D.C., Tokyo, Osaka, Hong Kong, Kowloon, Seoul, Bahrain, Dhaka, Chittagong, Ashgabat, Bishkek, Baku, Kabul, Jalalabad andKEPZ Offshore Banking UnitRepresentative Offices:Beijing, Tashkent, Chicago and TorontoSubsidiaries:CJSC Almaty, Kazakhstan8
NBP Capital Ltd.National Bank Modaraba Management Co.Taurus Securities Ltd.NBP Exchange Company Ltd.Joint Venture:United National Bank Ltd., UK(Economic Indicators Pakistan, Published by Economic research Wing NBP, Head Office Karachi)Present Status of the BankThe new management team having extensive experience of management of large financial institutions both within and outside the country is expected to further enhance the profitability and operational efficiency of the Bank.ProspectsThe Bank's principal strategic going forward objective is to make the transition from a public service institution to a modern commercial bank. Being the country's largest financial institution, the Bank is uniquely positioned to leverage its large branch network and its 8.5 million-customer base to consolidate its core businesses as well as develop new revenue generating opportunities.The new management team is in place combining the Bank's existing personnel with professionals recruited from outside. Operating procedures are being re-defined and internal controls strengthened utilizing a revamped IT architecture. A brief on the progress on some critical areas is as follows:Corporate & Investment BankingA new approach to corporate banking is underway. The Bank has initiated a structured approach to corporate banking by introducing a single point of contact through Relationship Managers (RMs). For this purpose, new RMs as well as team leaders have been inducted to expedite this process. Area Managers will be appointed to manage relationships and to better service the needs of multinationals and large local corporates.In investment banking team has also been formed to offer specialized services to major relationships including advisory and debt syndications (TFCs). Furthermore, to stem the growth in non-performing loans, the existing risk / credit management practices at the Bank are being revamped.Treasury / International BankingThe deregulation of foreign exchange treasury business has ensured that a growingVolume of business now flows through the inter-bank market where rates are determined by the market forces. This can prove to be an immense profitable proposition for the Bank.Towards this objective, the Bank is shifting focusing on expanding its market share intrade finance, home remittance and foreign investment related forex-denominated flows.