NIB Bank 2011 PDF

Moving ahead with focus
NIB Bank Limited Annual Report 2011

Contents
Unconsolidated
02 Company Information 21 Cash Flow Statement
Notice of Annual Notes to the

03 General Meeting
23 Unconsolidated Financial Statements
Auditors Report to the Members

Directors’ Report to the 103 on Consolidated Financial
05 Shareholders Statements
Statements of Compliance and Consolidated

09 104 Statement of Financial Position
Internal Controls
Auditors’ Review Report on Consolidated

14 105 Profit and Loss Account
Statement of Compliance
Auditors’ Report to the Members Consolidated

15 on Unconsolidated Financial 106 Statement of Comprehensive Income
Statements
Consolidated
Unconsolidated 107
17 Statement of Financial Position Statement of Changes in Equity
Consolidated
18 Unconsolidated 108 Cash Flow Statement
Profit and Loss Account
Unconsolidated Notes to the

19 110 Consolidated Financial Statements
Statement of Comprehensive Income
Unconsolidated 187 Pattern of Shareholding

20 Statement of Changes in Equity
Proxy Form
Annual Report 2011 1

Company Information
Board of Directors Teo Cheng San, Roland Chairman

Syed Aamir Zahidi Director
Tejpal Singh Hora Director
Asif Jooma Director
Chia Yew Hock Wilson Director
Najmus Saquib Hameed Director
Muhammad Abdullah Yusuf Director
Khawaja Iqbal Hassan Director
Badar Kazmi President/CEO
Board Audit Committee Muhammad Abdullah Yusuf Chairman

Syed Aamir Zahidi Member
Najmus Saquib Hameed Member
Company Secretary Ather Ali Khan
Chief Financial Officer Yameen Kerai
Registered Office First Floor, Post Mall

F-7 Markaz, Islamabad
Head Office Muhammadi House

I.I. Chundrigar Road
Karachi-74000.
UAN: (021) 111 333 111
Email & URL Email: info@nibpk.com

URL: www.nibpk.com
Share Registrar Office THK Associates (Pvt.) Limited

Ground Floor, State Life Building No. 3
Dr. Ziauddin Ahmed Road
Karachi-75530.
UAN: (021) 111 000 322
Auditors M/s. KPMG Taseer Hadi & Co.

Chartered Accountants
Legal Advisor M/s. Mandviwalla & Zafar

Advocates
Credit Rating Long Term: AA-

Short Term: A1+
Rating Agency: PACRA
2 Annual Report 2011

Notice of Annual General Meeting
Notice is hereby given that Ninth Annual General Meeting of NIB Bank Limited (“the Bank”) shall be held at 10:00 am
on Friday the 30th March 2012, at ICAP Auditorium, Institute of Chartered Accountants of Pakistan (ICAP) Building,
G-10/4 Mauve Area, Islamabad to transact the following business:
ORDINARY BUSINESS
1. To confirm the minutes of the 8th Annual General Meeting held on 30th March 2011.
2. To receive, consider and adopt the Audited Accounts of the Bank for the year ended 31st December 2011 together
with Directors' and Auditors' Reports thereon.
3. To appoint auditors and fix their remuneration. M/s. KPMG Taseer Hadi & Co., Chartered Accountants have offered
themselves for the re-appointment.
SPECIAL BUSINESS
4. To grant post facto approval to the payment of remuneration fixed by the Board for the non-executive directors,
in terms of State Bank of Pakistan Prudential Regulations # G-1(C)(2) for Corporate / Commercial Banking and to
pass the following resolution.
RESOLVED that post facto approval for payment of remuneration fixed by the Board for non-executive directors
in terms of State Bank of Pakistan's Prudential Regulation # G-1(C)(2) for Corporate / Commercial Banking is hereby
granted.
5. Any other business with the permission of the Chair.
A statement as required under section 160(1)(b) of the Companies Ordinance, 1984 is being sent to the shareholders
with this notice.
By Order of the Board
Karachi Ather Ali Khan

9th March 2012 Company Secretary
Notes:
1. Share Transfer Books of the Bank will remain closed from 22nd March to 30th March 2012 (both days inclusive).
2. A shareholder entitled to attend and vote at this meeting may appoint another shareholder as his / her proxy to
attend and vote. Proxies, in order to be effective, must be received at the Head Office of the Bank situated at
Muhammadi House, I.I. Chundrigar Road, Karachi (Pakistan) not later than 48 (forty eight) hours before the time
of meeting, and must be duly stamped, signed and witnessed.
3. Shareholders are requested to notify any change in their addresses immediately to the Bank or Share Registrar,
M/s. THK Associates (Pvt.) Limited, Ground Floor, State Life Building No. 3, Dr. Ziauddin Ahmed Road, Karachi (Pakistan).
4. CDC Account Holders will further have to follow the under mentioned guidelines as laid down in Circular 1 dated
the 26th January 2000 issued by the Securities and Exchange Commission of Pakistan:
For attending the meeting:
In case of individuals, the account holder or sub-account holder or investor account holder shall authenticate
identity by showing his / her original computerized national identity card (CNIC) or original passport at the time of
attending the meeting.
In case of corporate entity, the Board of Directors' resolution / power of attorney with specimen signature of the
nominee shall be produced (unless it has been provided earlier) at the time of the meeting.
For appointing proxies:
In case of individuals, the account holder or sub-account holder or investor account holder shall submit the proxy
form as per the above requirement.

Notice of Annual General Meeting
The proxy form shall be witnessed by two persons whose names, addresses and CNIC Numbers shall be mentioned
on the form.
Attested copy of CNIC or the Passport, of the account holder or sub-account holder or investor account holder
shall be furnished with the proxy form.
The proxy shall produce his original CNIC or original Passport at the time of the meeting.
In case of corporate entity, the Board of Directors' resolution / power of attorney with specimen signature shall be
submitted (unless it has been provided earlier) along with proxy form to the Bank.
STATEMENT UNDER SECTION 160(1) (B) OF THE COMPANIES ORDINANCE, 1984

NIB Bank Limited (“NIB”) was incorporated as a public limited company under the Companies Ordinance, 1984, to carry
on the business of a banking company under the Banking Companies Ordinance, 1962.
1) REMUNERATION TO NON EXECUTIVE DIRECTORS AND CHAIRMAN

As per State Bank of Pakistan's Prudential Regulation G-1(C)(2), the Banks / DFIs during a calendar year may pay
a reasonable and appropriate remuneration for attending the Board or its Committee(s) meeting(s) to the
non-executive directors and chairman, which should be linked to the actual number of Board / Committee meetings
attended by an individual director / chairman. Furthermore, the scale of remuneration to be paid to the non-executive
directors / chairman for attending the Board and / or Committee meetings shall be approved by the shareholders
on a pre or post facto basis in the Annual General Meeting. During 2011 an amount of Rs. 6.792 million has been
paid to non-executive directors.
For the purpose aforesaid it is proposed that the resolution set out in the notice convening the Annual General
Meeting of the Bank be passed as and by way of a Special Resolution.

Directors’ Report to the Shareholders
THE ECONOMY
In 2011, Pakistan's economy suffered from the double impact of the global crisis and a drop in prices of its exports such
as cotton. This had an adverse impact on the current account which went from a surplus of USD 841 mn in the first half
of the calendar year to a deficit of USD 2,140 mn in the second half. Since there were also limited external flows, foreign
exchange reserves reduced sharply from USD18.24 bn at mid year to USD 16.96 bn at year end which led the rupee
to depreciate against the USD by 4.25% between June and December 2011.
Recognizing the need to increase revenues, the Federal Board of Revenue took some significant steps in March 2011
to enhance tax revenue by withdrawing GST exemptions on some items, bringing sale of five zero rated sectors into the
GST net and collecting flood surcharge on income from the corporate sector. These measures helped in increasing tax
revenue by 27% in the second half of CY 2011 compared to the same period the previous year thus helping to reduce
the fiscal deficit. At the same time the Government took steps to resolve the circular debt problem in the energy chain
by converting power sector debt held by commercial banks into PIBs and T-bills. While this step provided respite to the
power sector, it aggravated the fiscal deficit which was already high due to flood related expenditure and subsidies to
the energy sector.
The State Bank of Pakistan (SBP) taking comfort from declining inflation and lower borrowing by the Government from
the SBP, reduced the policy discount rate by a cumulative 200 basis points in the second half of CY 2011 in order to
spur growth of the private sector.
Although inflation has declined from 17% to 9.75% between January and December 2011, risks to the economy remain
on account of a deteriorating external account position due to a rising trade deficit and repayment of external borrowings,
especially to the IMF. This will likely lead to a depreciation of the rupee, a widening of the fiscal deficit, and increased
Government borrowing from commercial banks and the SBP.
BANKING SECTOR
Earnings of the banking sector showed robust growth in the 9 months ending September 2011 with profit after tax in
aggregate growing by 59% in the period year on year. However, the stock of non-performing loans increased by
Rs 66 bn during the first 9 months of the calendar year reaching Rs 613 bn as of September 2011. Banks generally
adopted a cautious stance in extending credit in CY 2011 as witnessed by ADR dropping from 68% in December 2010
to 59% in December 2011. While this reduction has reducted the risk from credit defaults in a weak credit environment,
it has made banks susceptible to lower earnings if interest rates decline. SBP's cutting of the policy rate by 200 bps in
2H 2011 will compress net margins going forward unless there is a substantial increase in lending. Liquidity position is
expected to remain tight because of the Government's heavy reliance on commercial banks to finance the fiscal deficit.
OPERATING RESULTS
The Bank continued with its strategy of lending prudently and selectively, especially to the Consumer and SME segments
until these segments show stability. The Bank restricted its incremental lending mainly to top tier Corporates and to
Government entities for commodity finance. The Bank also took a number of steps to increase its low cost deposit base
by developing customized transactional banking products, improving its service standards, cross-selling its products
more effectively, and better leveraging its distribution network.
Since repayment of instalment-based Consumer and SME loans exceeded new loan bookings, there was an overall
reduction in the average loan outstanding in the year. Consequently this has led to Mark-up interest earned being reduced
by Rs 2,236 mn between 2010 and 2011.
Total deposits also declined as a result of a deliberate effort to reduce high cost deposits. The savings from lower level
of high cost deposits coupled with the increase in current and savings accounts lowered the Bank's cost of funds
to 6.83% in December 2011 from 8.13% in December 2010. Lower cost of funds reduced Mark-up expenses by
Rs 1,366 mn between the two years. Net Mark-up income reduced by Rs 870 mn between 2010 and 2011.
Lower Net Mark-up income was partially offset by higher Non Mark-up income which was higher by Rs 437 mn compared
to 2010. This was contributed by an increase in fees, commissions and income from dealing in foreign currencies as
well as dividends from the Bank's asset management subsidiary and the funds managed by it.
Administrative expenses in 2010 were higher because of one-off restructuring costs. However, taking out these
one-off costs, the recurring administrative expenses actually reduced by Rs 1,216 mn (20%) between 2010 and 2011.

This was achieved by re-engineering of processes, and cost rationalization and limiting the rise in infrastructure expenses
despite a high inflation environment.
The Bank continued to make very good progress in managing its credits portfolio and NPLs. Credit provisioning reduced
to Rs 2,355 mn in 2011 compared to Rs 9,873 mn in 2010.
On an unconsolidated basis the Bank made a loss after tax of Rs 2,044 mn for the year ended 2011 against a loss of
Rs 10,112 mn in 2010. On a consolidated basis the loss after tax was Rs 2,067 mn for the year ended 2011 against a
loss of Rs 9,707 mn in 2010.
NIB's rights issue was successfully closed in the third quarter of 2011 taking the paid up capital to Rs 103,029 mn.
Net of share discount, goodwill adjustment and accumulated losses, net equity of the Bank at the end of the year is
Rs. 13,584 mn with a Capital Adequacy Ratio higher than the SBP requirement.
FUTURE OUTLOOK
While the economic environment continues to be challenging, we are confident that by adopting a disciplined and
focused approach we can continue to grow the Bank by leveraging the inherent strength of our franchise, extensive
network, committed people and loyal customers. The Bank is aware that future growth and profitability is dependent on
headline revenue growth. To this end the Bank is taking various steps like increased focus on Balance Sheet management,
strengthening Risk management and investing in human resources to provide a strong foundation for growth. With these
enablers we expect to execute a focused business strategy that should lead to sustained growth in our revenues
and profitability.
CREDIT RATING
The Pakistan Credit Rating Agency (PACRA) has maintained NIB's long term rating at AA- (Double A minus) and
short term rating at A1+ (A one plus) in June 2011, which denote very low expectation of credit risk emanating from
a very strong capacity for timely payment of financial commitments. The rating on NIB's term finance certificates issued
in March 2008 was also maintained at A+ (A plus).
CORPORATE GOVERNANCE
During the year under review, the Bank is compliant with the provisions of the Code of Corporate Governance. Being
aware of their responsibilities under the Code of Corporate Governance, the Board of Directors state that:
• The Financial Statements prepared by the management of the Bank, present fairly its state of affairs, the results of
its operations, cash flows and changes in equity.
• Proper books of accounts of the Bank have been maintained.
• Appropriate accounting policies, except hereinafter mentioned, have been consistently applied in preparation of
financial statements and accounting estimates are based on reasonable and prudent judgment.
• International Accounting Standards, as applicable in Pakistan, have been followed in preparation of financial
statements and any departure there from has been adequately disclosed.
• The system of internal control is sound in design and has been effectively implemented and monitored.
• There are no significant doubts upon the Bank's ability to continue as a going concern.
• There has been no material departure from the best practices of Corporate Governance, as detailed in the listing
regulations of Stock Exchanges and the Bank is following these meticulously.
• As of 31st December 2011, the value of investments of the Provident Fund (un-audited) was Rs 681.226 mn.
• No trading during the year in the shares of the Bank was carried out by the Directors, CEO, CFO, Company Secretary
and their spouses and minor children.
• Dividend has not been declared for the year due to lack of earnings.

Six years financial data for NIB unconsolidated is provided hereunder:
SIX YEARS FINANCIAL DATA
Rs mn 2011 2010 2009 2008 2007 2006

Advances 60,844 74,566 84,021 80,344 81,932 31,052
Deposits and other accounts 85,488 99,169 93,920 104,586 116,671 30,566
Total Assets 154,794 164,350 208,119 178,909 176,872 46,423
Net Assets 13,677 13,663 41,528 39,699 36,453 4,327
Share capital 103,029 40,437 40,437 28,437 22,018 3,362
Net Mark-up / Interest Income 2,079 2,949 5,400 4,402 2,004 1,021
Total Non Mark-up / Interest income 2,152 1,715 1,682 2,421 927 495
Total Non Mark-up / Interest expense 4,945 7,235 5,243 8,164 2,146 1,224
Profit / (Loss) before taxation (3,480) (12,622) 644 (10,998) (710) 22
Profit / (Loss) after taxation (2,044) (10,112) 691 (7,475) (490) 118
Basic / diluted earnings / (loss) per share (Rupees) (0.34) (2.50) 0.17 (2.63) (0.44) 0.21
• During 2011 seven Board meetings were held and were attended by the Directors as follows:
Total Meetings Total Meetings

Name of Directors Eligible to Attend Attended Percentage
Mr. Francis Andrew Rozario
(resigned w.e.f. 31st July 2011) 3 3 100%
Syed Aamir Zahidi 7 6 86%
Mr. Tejpal Singh Hora 7 7 100%
Mr. Teo Cheng San, Roland 7 7 100%
Mr. Asif Jooma 7 7 100%
Mr. Muhammad Abdullah Yusuf 7 7 100%
Mr. Najmus Saquib Hameed 7 6 86%
Khawaja Iqbal Hassan 7 7 100%
Mr. Chia Yew Hock Wilson
(appointed w.e.f. 10th November 2011) 2 2 100%
Leave of absence was granted in case the directors were not able to attend the Board Meeting.
INTERNAL CONTROL AND RISK MANAGEMENT FRAMEWORK

The Board is pleased to endorse the statements made by the management relating to internal control and the risk
assessment framework to meet the requirement of the State Bank of Pakistan (SBP) BSD Circular No. 7 of 2004, BSD
Circular letter No. 2 of 2005 and Code of Corporate Governance issued by the Securities & Exchange Commission of
Pakistan (SECP). The management's statements are included in the annual report.
CORPORATE SOCIAL RESPONSIBILITY

When our country was hit by the most devastating floods in 2011, NIB Bank had proactively organized free medical
camps in the worst flood affected district areas of Badin, Tando Adam, Sanghar and other rural areas of Sind district.
As was done in 2010, several NIB staff participated in this initiative with exemplary zeal and dedication that brought a
team of doctors, paramedics, and volunteers along with medical supplies to the affected population. The 30 member
relief team commonly found diseases of gastroenteritis, skin infections, typhoid, hypertension, and malaria during their
visits, in partnership with the Serving Hands Organization (SHO).

These relief efforts were made possible with the funds contributed by NIB staff, its majority shareholder and customer
donations along with assistance received from a dedicated group of doctors and volunteers.
NIB is committed to fulfilling its role towards corporate social responsibility and will continue to respond in every possible
manner to alleviate the adversity being faced by over 8 million displaced people of Pakistan.
AUDITORS
The present auditors M/s. KPMG Taseer Hadi & Co., Chartered Accountants retire and, being eligible have offered
themselves for re-appointment in the forthcoming Annual General Meeting. The Board of Directors on the suggestion
of the Audit Committee recommends their appointment for the next term.
PATTERN OF SHAREHOLDING
The pattern of shareholding as at 31st December 2011 is included in the annual report.
ACKNOWLEDGEMENT
NIB Bank is grateful to its majority shareholder, Fullerton Financial Holdings, a subsidiary of Temasek Holdings of
Singapore, who have repeatedly demonstrated their commitment to the Bank. NIB Bank is also very grateful to its
customers who continue to demonstrate very strong loyalty to NIB. The SBP, SECP and other regulatory bodies have,
as always guided the Bank well and have given their full support which is highly appreciated. The employees also deserve
special thanks for persevering and supporting the Bank.
On behalf of the Board,
Teo Cheng San, Roland Badar Kazmi

Chairman President & CEO

Statement of Compliance with
Code of Corporate Governance
For the year ended December 31, 2011
This statement is being presented to comply with Code of Corporate Governance contained in Listing Regulations of
stock exchanges where the Bank's shares are listed and Regulation G-1 of SBP's Prudential Regulations.
The Bank has applied the principles contained in the Code of Corporate Governance (CCG) in the following manner:
1. The Bank encourages representation of independent non-executive directors on its Board including those representing
minority interests. At present all the directors are non-executive (as defined under CCG) except for the Chief
Executive Officer.
2. The directors have confirmed that none of them is serving as a director in more than ten listed companies, including
the Bank.
3. All the resident directors of the Bank are registered as taxpayers and none of them has defaulted in payment of
any loan to a banking company, a Development Financial Institution or Non Banking Finance Company. None of
the directors of the Bank are members of any Stock Exchange.
4. A casual vacancy occurred during 2011 which was filled in as per regulatory requirements.
5. The Bank has prepared a “Statement of Ethics and Business Practices', which has been signed by all the directors
and employees of the Bank.
6. The Board has developed a vision/mission statement and an overall corporate strategy. Significant policies of the
Bank have been prepared and approved by the Board. A complete record of particulars of significant policies
along with the dates on which these were approved is being maintained.
7. All the powers of the Board have been duly exercised and decisions on material transactions, including appointment
and determination of remuneration and terms and conditions of employment of the CEO have been taken by the
Board at the appropriate time.
8. The meetings of the Board were presided over by the Chairman. The Board held seven meetings during the year.
Written notices of Board meetings, along with agenda, were circulated at least seven days before the meetings.
The minutes of the meetings were appropriately recorded and circulated. The CFO and Company Secretary
attended all the meetings of the Board of Directors during the year.
9. The Directors of the Bank have given a declaration that they are aware of their duties, powers and responsibilities.
An orientation program was arranged for directors during 2011 on the subject of corporate governance in order
to apprise themselves of their duties and responsibilities.
10. The Board has approved the appointment of the Chief Financial Officer, Company Secretary and Head of Internal
Audit and the terms and conditions of their employment, determined by the CEO, are duly authorized by the Board
of Directors.
11. The Directors' report has been prepared in compliance with the requirements of the code and fully describes the
salient matters required to be disclosed.
12. The financial statements of the Bank were duly endorsed by the CEO and CFO before approval of the Board.
13. The directors, CEO and executives do not hold any interest in the shares of the Bank other than that disclosed in
the pattern of shareholding.
14. The Bank has complied with all the corporate and financial reporting requirements of the code.
15. The Audit Committee comprises of three members, all of whom are non-executive directors (as defined under CCG).
16. The meetings of the Audit Committee were held at least once every quarter prior to approval of interim and final
results of the Bank as required by the Code. The terms of reference of the Committee have been formed and
advised to the Committee for compliance.
17. The Bank has an effective Internal Audit department. An Internal Audit Manual is approved by the Board. The
Internal Audit department has conducted audit of branches and various departments of the Bank during the year.

Statement of Compliance with
Code of Corporate Governance
18. The statutory auditors of the Bank have confirmed that they have been given a satisfactory rating under the quality
control review program of the Institute of Chartered Accountants of Pakistan, that they or any of the partners of the
firms, their spouses and minor children do not hold shares of the Bank and that the firm and all its partners are in
compliance with International Federation of Accountants (IFAC) guidelines on code of ethics as adopted by the
Institute of Chartered Accountants of Pakistan.
19. The statutory auditors or the persons associated with them have not been appointed to provide other services
except in accordance with the listing regulations and the auditors have confirmed that they have observed IFAC
guidelines in this regard.
20. During the year, the Risk Management sub-committee of the Board comprising of 3 members met 4 times, whereas
the HR sub-committee of the Board comprising of 3 members met 2 times.
21. We confirm that all the material principles contained in the code have been complied with.
Badar Kazmi
President & CEO
Date: 22 February 2012

Karachi

Statement on Internal Controls
Internal Control System
Management acknowledges its responsibility for establishing and maintaining a system of internal control directly related
to and designed to provide reasonable assurance to achieve the following objectives:
• Efficiency and effectiveness of operations

• Compliance with applicable laws and regulations
• Reliability of financial reporting
The bank is continuously adding to its internal control systems by enhancing the quality of processes, staff and IT
infrastructure and will continue to do so to strengthen internal controls as it grows its business volumes and activities.
The Bank is pleased to make the following disclosures on the components of internal control system:
Control Environment
1. The Bank has written and implemented policies and procedures for most of the areas of the Bank's business, which
have been approved by the Board of Directors.
2. The Bank has adopted a mission/vision statement and corporate strategy, duly approved by the Board.
3. A clear organizational structure exists which supports clear lines of communication.
4. The management has defined roles and responsibilities of key management personnel.
5. The Audit Committee, which comprises of non-executive directors, has written terms of reference and reports to
the Board. It reviews the approach adopted by the Bank's internal audit department and the scope of, and the
relationship with, the external auditors. It also regularly receives summary of reports from the internal audit department
and the external auditors on the system of internal control and any material control weaknesses that have been
identified and discusses the actions to be taken in areas of concern with the executive management.
6. An effective internal audit system exists which is responsible for evaluation of internal control system on a continuous
basis and reports directly to the Audit Committee.
7. The Bank has adopted a statement of ethics and business practices that is signed by all employees. Furthermore
this statement is annually signed by all Directors.
8. Management has set up an effective compliance function to ensure ongoing monitoring of the Bank's adherence
with all laws and regulations.
9. The Bank has also developed a regulatory matrix that allows mapping applicable regulations with specific controls.
The underlying controls are periodically tested by means of a process of self assessment.
Risk Assessment
10. The Bank is largely compliant with the risk management guidelines issued by the SBP and has given a separate
statement on the same.
Control Activities
11. In 2011 all branches of NIB operated on the core banking platform leading to greater consistency in business
processes and enhancing controls across the network. The Bank has also developed a Business Continuity Plan
and has also successfully tested the operation of its Disaster Recovery site.
12. The Bank has strict Know Your Customer / Anti Money Laundering policies and has anti-fraud training programs
and controls in place. The Bank continues to use an e-KYC form to further strengthen its KYC/AML regime. Given
its importance the Bank continue to focus on further strengthening process and controls in this area.

Information and Communication
13. The Bank has a functioning Management Information System and has developed Key Performance Indicators for
its businesses enabling it to monitor budget versus actual performance.
Monitoring
14. Internal Audit periodically carries out audits for branches and Head Office functions to monitor compliance with
the Bank's standards.
15. Management gives due consideration to the recommendations made by the internal, external auditors and regulators
especially for improvements in the internal control system and takes timely action to implement such recommendations.
Based on the results of an evaluation of the internal control system and key features of the control framework enumerated
above, management is of the view that the internal control system during the year was acceptable in design and has
been effectively implemented throughout the year. The Bank, however, will continue to further strengthen the process
by both raising the bar on acceptable performance and strengthening the consequence management process.
It is pertinent to mention that development of an internal control system is an ongoing process through which management
reviews and strengthens the internal control system, designed to manage rather than eliminate risks. As such, it can only
provide reasonable but not absolute assurance against material misstatement or loss.
Risk Management Framework
The acceptance and management of financial risk is inherent to banking business activities. It involves the identification,
measurement, monitoring and controlling of Risk.
In accordance with the Risk Management guidelines issued by the SBP, an Integrated Risk Management Group in the
Bank formulates risk management Policies and Procedures in line with Bank's defined strategies and to monitor the
following areas:
a) Credit Risk Management

b) Market and Liquidity Risk Management
c) Operational Risk Management
Credit Risk Management (CRM)
CRM is viewed as an ongoing activity where credit risks are regularly identified and assessed. It determines the quality
of the credit portfolio and assists in balancing risk and reward. To manage credit risks appropriately, Credit Committee
has been established at the Head Office and comprises of senior and seasoned members with credit, industry and
business expertise.
In order to achieve earnings targets with a high degree of reliability and to avoid losses through a strong credit process,
the Credit Risk Policy Manual has been developed and duly implemented. This Manual is under constant review and
regular updates are made therein through the issuance of various “Credit Bulletins”, thereby, not only incorporating best
practices but also ensuring the establishment of a robust credit control environment.
Market Risk Management (MRM)
MRM is a control system which allows management to closely supervise and monitor risks caused by movements in
market rates or prices such as interest rates, foreign exchange rates, equity prices, credit spreads and/or commodity
prices, resulting in a potential loss to earnings and capital.

Treasury Mid Office, under the supervision of Integrated Risk Management Group, is responsible for ensuring that market
risk parameters are properly adhered to. A senior resource with requisite experience is being inducted to further
strengthen this area.
In order to ensure adequate controls for money market, foreign exchange and equity transactions, a comprehensive
control mechanism has been outlined in the Market and Liquidity risk management policies which are frequently updated
in line with the changes in market dynamics.
Operational Risk Management (ORM)
Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or from
external events. The Bank has written and implemented its Operational Risk Policy duly approved by the Board. The
Bank has also implemented tools for identification, monitoring, and management of key operational risks and has also
implemented a template for collecting operational loss data on a periodic basis. The Bank intends to further strengthen
this area by emphasizing on training, adding experienced resources where required, focusing on building robust
processes and introducing a strong monitoring system as part of the management process.
Badar Kazmi
President & CEO
Date: 22 February 2012

Karachi

Auditors’ Review Report to the Members on
Statement of Compliance with Best Practices
of Code of Corporate Governance
We have reviewed the Statement of Compliance with the Best Practices contained in the Code of Corporate
Governance prepared by the Board of Directors of NIB Bank Limited to comply with listing regulations
of the Karachi, Lahore and Islamabad Stock Exchanges where the Bank is listed.
The responsibility for compliance with the Code of Corporate Governance is that of the Board of Directors
of the Bank. Our responsibility is to review, to the extent where such compliance can be objectively verified,
whether the Statement of Compliance reflects the status of the Bank's compliance with the provisions of
the Code of Corporate Governance and report if it does not. A review is limited primarily to inquiries of
the Bank personnel and review of various documents prepared by the Bank to comply with the Code.
As part of our audit of financial statements we are required to obtain an understanding of the accounting
and internal control systems sufficient to plan the audit and develop an effective audit approach. We have
not carried out any special review of the internal control system to enable us to express an opinion as
to whether the Board's statement on internal control covers all controls and the effectiveness of such
internal controls.
Further sub-regulation (xiii) of Listing Regulations 35 (previously Regulation No. 37) notified by the Karachi
Stock Exchange (Guarantee) Limited vide circular no. KSE/N-269 dated January 19, 2009 requires the
Company to place before the Board of Directors for their consideration and approval related party
transactions distinguishing between transactions carried out on terms equivalent to those that prevail in
arm's length transactions and transactions which are not executed at arm's length price recording proper
justification for using such alternate pricing mechanism. Further, all such transactions are also required
to be separately placed before the audit committee. We are only required and have ensured compliance
of requirement to the extent of approval of related party transactions by the Board of Directors and placement
of such transactions before the audit committee. We have not carried out any procedures to
determine whether the related party transactions were undertaken at arm's length price or not.
Based on our review, nothing has come to our attention which causes us to believe that the Statement of
Compliance does not appropriately reflect the Bank's Compliance, in all material respects, with the best
practices contained in the Code of Corporate Governance as applicable to the Bank for the year ended
December 31, 2011.
Date: 22 February 2012 KPMG Taseer Hadi & Co.

Karachi Chartered Accountants

Auditors’ Report to the Members
We have audited the annexed unconsolidated statement of financial position of NIB Bank Limited (the
Bank) as at 31 December 2011 and the related unconsolidated profit and loss account, unconsolidated
statement of comprehensive income, unconsolidated cash flow statement and unconsolidated statement
of changes in equity together with the notes forming part thereof (here-in-after referred to as the 'financial
statements') for the year then ended, in which are incorporated the unaudited certified returns from the
branches except for 28 branches which have been audited by us and we state that we have obtained all
the information and explanations which, to the best of our knowledge and belief, were necessary for the
purposes of our audit.
It is the responsibility of the Bank's Board of Directors to establish and maintain a system of internal control,
and prepare and present the financial statements in conformity with approved accounting standards and
the requirements of the Banking Companies Ordinance, 1962 (LVII of 1962), and the Companies Ordinance,
1984 (XLVII of 1984). Our responsibility is to express an opinion on these statements based on our audit.
We conducted our audit in accordance with the International Standards on Auditing as applicable in
Pakistan. These standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of any material misstatement. An audit includes examining,
on a test basis, evidence supporting amounts and disclosures in the financial statements. An audit also
includes assessing accounting policies and significant estimates made by management, as well as,
evaluating the overall presentation of the financial statements. We believe that our audit provides a
reasonable basis for our opinion and after due verification, which in the case of loans and advances covered
more than 60% of the total loans and advances of the bank, we report that:
a) in our opinion, proper books of accounts have been kept by the Bank as required by the Companies
Ordinance, 1984 (XLVII of 1984), and the returns referred to above received from the branches have
been found adequate for the purposes of our audit;
b) in our opinion:
i) the statement of financial position and profit and loss account together with the notes thereon
have been drawn up in conformity with the Banking Companies Ordinance, 1962 (LVII of 1962),
and the Companies Ordinance, 1984 (XLVII of 1984), and are in agreement with the books of
account and are further in accordance with accounting policies consistently applied;
ii) the expenditure incurred during the year was for the purpose of the Bank's business; and
iii) the business conducted, investments made and the expenditure incurred during the year were
in accordance with the objects of the Bank and the transactions of the Bank which have come
to our notice have been within the powers of the Bank;
c) in our opinion and to the best of our information and according to the explanations given to us, the
unconsolidated statement of financial position, unconsolidated profit and loss account, unconsolidated
statement of comprehensive income, unconsolidated cash flow statement, and unconsolidated
statement of changes in equity together with the notes forming part thereof conform with approved

accounting standards as applicable in Pakistan, and give the information required by the Banking
Companies Ordinance, 1962 (LVII of 1962), and the Companies Ordinance, 1984 (XLVII of 1984),
in the manner so required and give a true and fair view of the state of the Bank's affairs as at 31
December 2011 and its true balance of the loss, its cash flows and changes in equity for the year
then ended; and
d) in our opinion Zakat deductible at source under the Zakat and Ushr Ordinance, 1980 (XVIII of 1980),
was deducted by the Bank and deposited in the Central Zakat Fund established under section 7
of that Ordinance.

Amir Jamil Abbasi

NIB Bank Limited
Unconsolidated Statement of Financial Position
As at December 31, 2011
Note 2011 2010

(Rupees '000')
ASSETS
Cash and balances with treasury banks 7 7,969,044 8,836,449
Balances with other banks 8 1,486,830 2,951,479
Lendings to financial institutions 9 14,666,918 6,429,166
Investments 10 49,598,830 51,789,035
Advances 11 60,844,380 74,566,015
Operating fixed assets 12 2,693,795 2,718,975
Intangible assets 13 2,054,426 2,419,148
Deferred tax assets - net 14 11,017,000 9,480,983
Other assets 15 4,462,407 5,158,789
154,793,630 164,350,039
LIABILITIES
Bills payable 16 1,738,422 1,335,493
Borrowings 17 47,382,031 42,361,934
Deposits and other accounts 18 85,488,268 99,169,373
Sub-ordinated loans 19 3,994,400 3,996,000
Liabilities against assets subject to finance lease – –
Deferred tax liabilities – –
Other liabilities 20 2,514,005 3,824,474
141,117,126 150,687,274
NET ASSETS 13,676,504 13,662,765
REPRESENTED BY:
Share capital 21 103,028,512 40,437,271

Reserves 218,276 8,464,894
Discount on issue of shares (45,769,623) –
Accumulated loss (43,893,095) (41,592,479)
Shareholders’ equity 13,584,070 7,309,686
Advance against proposed rights issue – 6,352,360
13,584,070 13,662,046
Surplus on revaluation of assets - net 22 92,434 719
13,676,504 13,662,765
CONTINGENCIES AND COMMITMENTS 23
The annexed notes from 1 to 42 and annexure - 1 form an integral part of these unconsolidated financial statements.
Badar Kazmi Teo Cheng San, Roland Tejpal Singh Hora Muhammad Abdullah Yusuf
President / Chief Executive Chairman / Director Director Director

NIB Bank Limited
Unconsolidated Profit and Loss Account
Note 2011 2010

(Rupees '000')
Mark-up / Return / Interest earned 24 14,245,677 16,482,080

Mark-up / Return / Interest expensed 25 12,166,781 13,533,160
Net Mark-up / Interest Income 2,078,896 2,948,920
Provision against non-performing loans and advances 11.5 2,355,074 9,872,524
Provision for diminution in the value of investments 10.13 395,267 124,521
Bad debts written off directly 15,802 53,359
2,766,143 10,050,404
Net Mark-up / Interest income after provisions (687,247) (7,101,484)
NON MARK-UP / INTEREST INCOME

Fee, commission and brokerage income 756,650 715,279
Dividend income 573,184 177,229
Income from dealing in foreign currencies 526,577 469,449
Gain on sale of securities 26 274,512 328,920
Unrealized gain on revaluation of
investments classified as held-for-trading – –
Other income 27 21,157 24,475
Total Non Mark-up / Interest income 2,152,080 1,715,352
1,464,833 (5,386,132)
NON MARK-UP / INTEREST EXPENSES

Administrative expenses 28 4,714,974 6,955,148
Other provisions / write offs 200,912 158,359
Other charges 29 42,365 121,918
Workers welfare fund (13,000) –
Total Non Mark-up / Interest expense 4,945,251 7,235,425
Extraordinary / Unusual items – –
PROFIT / (LOSS) BEFORE TAXATION (3,480,418) (12,621,557)
Taxation - Current 30 163,978 181,974
- Prior years 30 30,658 327,748
- Deferred 30 (1,630,964) (3,019,165)
(1,436,328) (2,509,443)
PROFIT / (LOSS) AFTER TAXATION (2,044,090) (10,112,114)
Accumulated loss brought forward (41,592,479) (7,258,893)
ACCUMULATED LOSS CARRIED FORWARD (43,636,569) (17,371,007)
Basic / diluted Loss per share (Rupees) 31 (0.34) (2.50)

NIB Bank Limited
Unconsolidated Statement of Comprehensive Income
2011 2010
(Rupees '000')
Profit / (Loss) after taxation for the year (2,044,090) (10,112,114)
Other comprehensive income – –
Total comprehensive income for the year (2,044,090) (10,112,114)
Surplus / deficit on revaluation of "Available for Sale" securities is presented under a separate head below equity as "Surplus
/ deficit on revaluation of assets" in accordance with the requirements specified by the Companies Ordinance, 1984, and
the State Bank of Pakistan vide its BSD Circular 20 dated August 4, 2000 and BSD Circular 10 dated July 13, 2004.

NIB Bank Limited
Unconsolidated Statement of Changes in Equity
Reserves
Capital Revenue
Share Discount on Share Statutory General Accumulated

Note capital issue of premium reserve reserve (loss) Total
shares (a)
(Rupees '000')
Balance as at December 31, 2009 40,437,271 – 8,246,618 212,804 5,472 (7,258,893) 41,643,272
Total comprehensive income / (loss)

for the year
Loss after taxation for the year – – – – – (10,112,114) (10,112,114)
Goodwill adjustment 13.2 – – – – – (24,221,472) (24,221,472)
Balance as at December 31, 2010 40,437,271 – 8,246,618 212,804 5,472 (41,592,479) 7,309,686
Total comprehensive income /

(loss) for the year
Loss after taxation for the year – – – – – (2,044,090) (2,044,090)
Transaction with owners,

recorded directly in equity
Issue of right shares during the year 62,591,241 – – – – – 62,591,241

Discount on issue of right shares – (54,016,241) – – – – (54,016,241)
Share premium adjusted against share
discount – 8,246,618 (8,246,618) – – – –
Right shares issue cost – – – – – (256,526) (256,526)
62,591,241 (45,769,623) (8,246,618) – – (256,526) 8,318,474
Balance as at December 31, 2011 103,028,512 (45,769,623) – 212,804 5,472 (43,893,095) 13,584,070
(a) This represents reserve created under section 21(1)(a) of the Banking Companies Ordinance 1962.

NIB Bank Limited
Unconsolidated Statement of Cash Flows
2011 2010
(Rupees '000')
CASH FLOWS FROM OPERATING ACTIVITIES

Loss before taxation (3,480,418) (12,621,557)
Dividend income (573,184) (177,229)
(4,053,602) (12,798,786)
Adjustments for non-cash items
Depreciation 273,601 386,964
Amortization 368,608 371,225
Workers welfare fund (13,000) –
Gain on sale of securities (274,512) (328,920)
Gain on sale of operating fixed assets (2,522) 732
Provision against non-performing loans and advances 2,355,074 9,872,524
Fixed assets written off – 159,680
Provision for diminution in the value of investments 395,267 124,521
3,319,230 10,798,444
(734,372) (2,000,342)
(Increase) / decrease in operating assets
Lendings to financial institutions (8,237,752) (747,279)
Advances 11,350,759 (470,492)
Other assets (excluding advance taxation) 565,110 1,781,836
Increase / (decrease) in operating liabilities

Bills payable 402,929 (238,714)
Borrowings 5,020,097 (20,161,431)
Deposits and other accounts (13,681,105) 5,249,568
Other liabilities (excluding current taxation) (1,297,383) (754,759)
(6,611,717) (17,341,613)
Income tax paid (264,276) (676,360)
Net cash from / (used in) operating activities (6,875,993) (18,017,973)
CASH FLOWS FROM INVESTING ACTIVITIES
Net Investments in available-for-sale securities 2,278,201 10,731,652

Net Investments in held-to-maturity securities (22,089) (35,501)
Net Investments in associates – 284,134
Dividend received 573,184 177,229
Payments for capital work in progress (191,617) (126,035)
Acquisition of property and equipment (58,334) (93,286)
Acquisition of intangible assets (3,886) (4,050)
Sale proceeds of property and equipment disposed of 4,052 3,078
Net cash (used in) / from investing activities 2,579,511 10,937,221

NIB Bank Limited
Unconsolidated Statement of Cash Flows
Note 2011 2010

(Rupees '000')
CASH FLOWS FROM FINANCING ACTIVITIES
Redemption of sub-ordinated loans (1,600) (1,600)

Issue of share capital 2,222,640 –
Dividend paid (86) (138)
Right shares issue cost (256,526) –
Net cash (used in) / from financing activities 1,964,428 6,350,622
Net increase / (decrease) in cash and cash equivalents (2,332,054) (730,130)
Cash and cash equivalents at beginning of the year 11,787,928 12,518,058
Cash and cash equivalents at end of the year 32 9,455,874 11,787,928

NIB Bank Limited
Notes to the Unconsolidated Financial Statements
1. STATUS AND NATURE OF BUSINESS

NIB Bank Limited "the Bank" is incorporated in Pakistan and its registered office is situated at first floor, Post Mall,
F-7 Markaz, Islamabad. The Bank is listed on all the stock exchanges in Pakistan and has 179 branches (December
31, 2010: 178 branches). The Bank is a scheduled commercial bank and is principally engaged in the business
of banking as defined in the Banking Companies Ordinance, 1962.
NIB Bank Limited is a subsidiary of Bugis Investments (Mauritius) Pte. Limited which is a wholly owned subsidiary
of Fullerton Financial Holdings Pte. Limited which in turn is a wholly owned subsidiary of Temasek Holdings, an
investment arm of the Government of Singapore.
2. BASIS OF PRESENTATION
These unconsolidated financial statements represent separate financial statements of the Bank. The consolidated
financial statements of the Bank, its subsidiary and associates are presented separately.
In accordance with the directives of the Federal Government regarding the shifting of the banking system to
Islamic modes, the State Bank of Pakistan (SBP) has issued various circulars from time to time. Permissible forms
of trade-related modes of financing include purchase of goods by banks from their customers and immediate
resale to them at appropriate mark-up in price on deferred payment basis. The purchases and sales arising under
these arrangements are not reflected in these unconsolidated financial statements as such but are restricted to
the amount of facility actually utilized and the appropriate portion of mark-up thereon.
These unconsolidated financial statements have been presented in Pakistan Rupees, which is the Bank's functional
and presentation currency. The amounts are rounded off to the nearest thousand rupees.
3. STATEMENT OF COMPLIANCE
3.1 These unconsolidated financial statements have been prepared in accordance with approved accounting standards
as applicable in Pakistan. Approved accounting standards comprise of such International Financial Reporting
Standards (IFRS) issued by the International Accounting Standards Board (IASB) as are notified under the
Companies Ordinance, 1984, provisions of and directives issued under the Banking Companies Ordinance, 1962,
the Companies Ordinance, 1984 and the directives issued by the SBP. In case the requirements differ, the
provisions of and directives issued under the Banking Companies Ordinance, 1962, the Companies Ordinance,
1984 and the directives issued by the SBP shall prevail.
3.2 The SBP vide BSD Circular No. 10, dated August 26, 2002 has deferred the applicability of International Accounting
Standard 39, Financial Instruments: Recognition and Measurement (IAS 39) and International Accounting Standard
40, Investment Property for banking companies till further instructions. Further, according to a notification of the
Securities and Exchange Commission of Pakistan (SECP) dated April 28, 2008, IFRS 7 "Financial Instruments:
Disclosures" has not been made applicable for banks. Accordingly, the requirements of these standards have
not been considered in the preparation of these unconsolidated financial statements. However, investments have
been classified and valued in accordance with the requirements of various circulars issued by the SBP.
3.3 Standards, interpretations and amendments to

published approved accounting standards that are not yet effective
The following standards, amendments and interpretations of approved accounting standards are effective for
accounting periods beginning on or after January 1, 2012:
- Amendments to IAS 12 – deferred tax on investment property (effective for annual periods beginning on or
after 1 January 2012). The 2010 amendment provides an exception to the measurement principle in respect
of investment property measured using the fair value model in accordance with IAS 40 Investment Property.
The measurement of deferred tax assets and liabilities, in this limited circumstance, is based on a rebuttable
presumption that the carrying amount of the investment property will be recovered entirely through sale. The
presumption can be rebutted only if the investment property is depreciable and held within a business model
whose objective is to consume substantially all of the asset’s economic benefits over the life of the asset.
However, this change will not impact the Bank as SBP vide BSD Circular No. 10 dated August 26, 2002 has
deferred the applicability of IAS 40 for Banking Companies.

- IAS 27 Separate Financial Statements (2011) - (effective for annual periods beginning on or after 1 January
2013). IAS 27 (2011) supersedes IAS 27 (2008). Three new standards IFRS 10 - Consolidated Financial
Statements, IFRS 11- Joint Arrangements and IFRS 12- Disclosure of Interest in Other Entities dealing with
accounting for subsidiaries and associates would be applicable effective 1 January 2013. IAS 27 (2011)
carries forward the existing accounting and disclosure requirements for separate financial statements, with
some minor clarifications. The amendments have no impact on financial statements of the Bank.
- IAS 28 Investments in Associates and Joint Ventures (2011) - (effective for annual periods beginning on or
after 1 January 2013). IAS 28 (2011) supersedes IAS 28 (2008). IAS 28 (2011) makes the amendments to
apply IFRS 5 to an investment, or a portion of an investment, in an associate or a joint venture that meets the
criteria to be classified as held for sale; and on cessation of significant influence or joint control, even if an
investment in an associate becomes an investment in a joint venture. The amendments have no impact on
financial statements of the Bank.
- IAS 19 Employee Benefits (amended 2011) - (effective for annual periods beginning on or after 1 January
2013). The amended IAS 19 includes the amendments that require actuarial gains and losses to be recognised
immediately in other comprehensive income; this change will remove the corridor method and eliminate the
ability for entities to recognise all changes in the defined benefit obligation and in plan assets in profit or loss,
which currently is allowed under IAS 19; and that the expected return on plan assets recognised in profit or
loss is calculated based on the rate used to discount the defined benefit obligation. The impact of these have
not been quantified.
- Presentation of Items of Other Comprehensive Income (Amendments to IAS 1) - (effective for annual periods
beginning on or after 1 July 2012). The amendments require that an entity present separately the items of
other comprehensive income that would be reclassified to profit or loss in the future if certain conditions are
met from those that would never be reclassified to profit or loss. The amendments do not address which items
are presented in other comprehensive income or which items need to be reclassified. The requirements of other
IFRSs continue to apply in this regard. The amendments have no impact on financial statements of the Bank.
- Disclosures – Transfers of Financial Assets (Amendments to IFRS 7) - (effective for annual periods beginning
on or after 1 July 2011). The amendments introduce new disclosure requirements about transfers of financial
assets, including disclosures for financial assets that are not derecognised in their entirety; and financial assets
that are derecognised in their entirety but for which the entity retains continuing involvement. The amendments
have no impact on financial statements of the Bank.
- Offsetting Financial Assets and Financial Liabilities (Amendments to IAS 32) – (effective for annual periods
beginning on or after 1 January 2014). The amendments address inconsistencies in current practice when
applying the offsetting criteria in IAS 32 Financial Instruments: Presentation. The amendments clarify the
meaning of ‘currently has a legally enforceable right of set-off’; and that some gross settlement systems may
be considered equivalent to net settlement.
- Offsetting Financial Assets and Financial Liabilities (Amendments to IFRS 7) – (effective for annual periods
beginning on or after 1 January 2013). The amendments to IFRS 7 contain new disclosure requirements for
financial assets and liabilities that are offset in the statement of financial position or subject to master netting
agreement or similar arrangement. The amendments have no impact on financial statements of the Bank.
4. BASIS OF MEASUREMENT
These unconsolidated financial statements have been prepared under the historical cost convention, except for
the measurement of certain investments and commitments in respect of forward foreign exchange contracts that
are stated at revalued amounts / fair values, staff retirement benefits (Gratuity) which are stated at present value
and certain financial assets that are stated net of provisions.
5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of unconsolidated financial statements in conformity with approved accounting standards requires
the use of certain critical accounting estimates that affect the reported amounts of assets, liabilities, income and
expenses. It also requires the management to exercise its judgment in the process of applying the Bank's

accounting policies. Estimates and judgments are continually evaluated and are based on historical experience,
including expectations of future events that are believed to be reasonable under the circumstances. The areas
where various assumptions and estimates are significant to the Bank's financial statements or where judgment
was exercised in application of accounting policies are as follows:
5.1 Classification of Investments

Held-to-maturity securities
As described in note 6.4, held-to-maturity securities are investments where the management has positive intent
and ability to hold to maturity. The classification of these securities involves management judgment as to whether
the financial assets are held-to-maturity investments.
Held-for-trading securities
Investments classified as held-for-trading are those which the Bank has acquired with an intention to trade by
taking advantage of short term market / interest rate movements and are to be sold within 90 days.
Available-for-sale securities
Investments which are not classified as held-for-trading or held-to-maturity are classified as available-for-sale.
5.2 Impairment
Valuation and impairment of available-for-sale investments
The Bank determines that an available-for-sale equity investment is impaired when there has been a significant
or prolonged decline in the fair value below its cost. The determination of what is significant or prolonged requires
judgment. In making this judgment, the Bank evaluates, among other factors, the normal volatility in share price.
In addition, impairment may be appropriate when there is evidence of deterioration in the financial health of the
investee, industry and sector performance, changes in technology and operational and financing cash flows.
Provision for diminution in the value of term Finance Certificates, Bonds and Sukuks is made as per the Prudential
Regulations issued by the State Bank of Pakistan.
In case of impairment of available-for-sale securities, the loss is recognised in the profit and loss account.
Impairment of investments in associates and subsidiaries

The Bank considers that a significant or prolonged decline in the recoverable value of investments in associates
and subsidiaries below their cost may be evidence of impairment. Recoverable value is calculated as the higher
of fair value less costs to sell and value in use. An impairment loss is recognized when the recoverable value falls
below the carrying value and is charged to the profit and loss account. Subsequent reversal of impairment loss,
upto the cost of investments in associates and subsidiaries, are credited to the profit and loss account.
Impairment of non financial assets (excluding deferred tax and goodwill)
Non financial assets are subject to impairment review if there are events or changes in circumstances that indicate
that the carrying amount may not be recoverable. If any such indication exists, the Bank estimates the recoverable
amount of the asset and the impairment loss, if any. The recoverable amount of an asset is the higher of its fair
value less costs to sell and its value in use. Value in use is the present value of future cash flows from the asset
discounted at a rate that reflects market interest rates adjusted for risks specific to the asset. If the recoverable
amount of an intangible or tangible asset is less than its carrying value, an impairment loss is recognised
immediately in the profit and loss account and the carrying value of the asset reduced by the amount of the loss.
A reversal of an impairment loss on intangible assets (excluding goodwill) is recognized as it arises provided the
increased carrying value does not exceed that which it would have been had no impairment loss been recognized.

Impairment of Goodwill
Impairment testing involves a number of judgmental areas which are subject to inherent significant uncertainty,
including the preparation of cash flow forecasts for periods that are beyond the normal requirements of management
reporting and the assessment of the discount rate appropriate to the business.
5.3 Provision against non-performing advances

Apart from the provision determined on the basis of time based criteria given in the Prudential Regulations of the
SBP, management also applies subjective criteria of classification and accordingly the classification of an advance
may be downgraded on the basis of evaluation of the credit worthiness of the borrower, its cash flows, operations
in its account and adequacy of security in order to ensure accurate measurement of the provision.
5.4 Retirement Benefits

The key actuarial assumptions concerning the valuation of the defined benefit plan and the sources of estimation
are disclosed in note 34.2 to these unconsolidated financial statements.
5.5 Useful life of property and equipment

Estimates of useful life of property and equipment are based on management's best estimate.
5.6 Income Taxes

In making the estimates for income taxes currently payable by the Bank, the management looks at the current
income tax laws and the decisions of appellate authorities on certain issues in the past. In making the provision
for deferred taxes, estimates of the Bank's future taxable profits are taken into account.
6. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting policies adopted in the preparation of these unconsolidated financial statements are the same
as those applied in the preparation of the unconsolidated financial statements of the Bank for the year ended
December 31, 2010 and are enumerated as follows:
6.1 Business combinations

Business combinations are accounted for using the purchase method. Under this method, identified assets
acquired, liabilities and contingent liabilities assumed are fair valued at the acquisition date, irrespective of the
extent of any minority interest. The excess of cost of acquisition over the fair value of identifiable net assets
acquired is recorded as goodwill.
6.2 Revenue recognition

Mark-up / return on performing loans / advances and investments is recognized on time proportionate basis.
Where debt securities are purchased at a premium or discount, such premium / discount is amortized through
the profit and loss account over the remaining period of maturity using the effective interest rate method so as
to produce a constant rate of return. Interest or mark-up recovered on non-performing advances is recognized
on a receipt basis in accordance with the requirements of the Prudential Regulations issued by the SBP as
amended from time to time.
The financing method is used in accounting for income on finance leases and hire purchase transactions. Under
this method, the unearned income, i.e. the excess of aggregate lease rentals and the estimated residual value
over the net investment (cost of leased assets) is deferred and then amortized to income over the term of the
lease on a pattern reflecting a constant periodic rate of return on the net investment in the lease. Unrealized lease
income is suspended, where necessary, in accordance with the requirements of the Prudential Regulations issued
by the SBP.

Rental income from assets given on operating lease is recognized on time proportionate basis over the lease period.
Gains / losses on termination of lease contracts, documentation charges and other lease income are recognized
as income when they are realized.
Fee, commission and brokerage income is recognized at the time of performance of the service.
Dividend income is recorded when the right to receive the dividend is established.
6.3 Grants and assistance

In terms of Kreditanstalt fur Wiederaufbau (KFW) loan re-lent by the Government of Pakistan (GoP), the Bank was
required to bear interest at 11 percent per annum and pay interest to the GoP at 10 percent per annum and
transfer the remaining 1 percent per annum margin to a counter part fund to be used by the Bank for financing
feasibility surveys, market surveys and similar investigations destined for the preparation of projects.
6.4 Investments
Investments of the Bank, other than investments in subsidiaries and associates are classified as held-to-maturity,
held-for-trading and available-for-sale.
Held-to-maturity
These are securities with fixed or determinable payments and fixed maturity and the Bank has the positive intent
and ability to hold upto maturity.
Held-for-trading
These securities are either acquired for generating a profit from short-term fluctuations in market prices, interest
rate movements, dealer's margin or are securities included in the portfolio for which there is evidence of a recent
actual pattern of short-term profit taking.
Available-for-sale
These are securities which do not fall under the classification of held-for-trading or held-to-maturity securities.
Initial measurement
All “regular way” purchases and sales of investments are recognized on the trade date, i.e., the date that the Bank
commits to purchase or sell the asset. Regular way purchases or sales are purchases or sales of investments that
require delivery of assets within the time frame generally established by regulation or convention in the market place.
Investments are initially recognized at fair value which, in the case of investments other than held-for-trading,
includes transaction costs associated with the investments.
Subsequent measurement
Held-to-maturity
These are measured at amortized cost using the effective interest rate method, less any impairment loss recognized
to reflect irrecoverable amounts.
Held-for-trading
These are measured at subsequent reporting dates at fair value. Gains and losses on remeasurement are included
in the profit and loss account.
Available-for-sale
Quoted-securities classified as available-for-sale investments are measured at subsequent reporting dates at fair
value. Any surplus / deficit arising thereon is kept in a separate account shown in the balance sheet below equity

and taken to the profit and loss account when actually realized upon disposal or when the investment is considered
to be impaired.
Unquoted equity securities are valued at the lower of cost and break-up value. A decline in the carrying value is
charged to the profit and loss account. The break-up value of these equity securities is calculated with reference
to the net assets of the investee company as per the latest available audited financial statements. Investments
in other unquoted securities are valued at cost less impairment losses.
Provision for diminution in the value of securities (except term finance certificates) is made for impairment, if any.
Provision for diminution in the value of term finance certificates is made as per the aging criteria prescribed by
the Prudential Regulations issued by the SBP.
Investment in Subsidiaries and Associates
Investments in subsidiaries and associates are valued at cost less impairment, if any. A reversal of an impairment
loss on associates and subsidiaries is recognized as it arises provided the increased carrying value does not
exceed that it would have been had no impairment loss been recognized.
Gain or loss on sale of investments in subsidiaries and associates is included in the profit and loss account for
the year.
6.5 Lendings to / borrowings from financial institutions

Securities sold subject to a repurchase agreement (repo) are retained in the financial statements as investments
and the counter party liability is included in borrowings. Securities purchased under agreement to resale (reverse
repo) are not recognized in the financial statements as investments and the amount extended to the counter party
is included in lendings to financial institutions. In the case of the continuous funding system, transactions are
shown under advances. The difference between sale and repurchase price is treated as mark-up / return expensed
whereas difference between purchase and resale price is treated as mark-up / return earned.
Securities borrowed are not recognised in the financial statements, unless these are sold to third parties, in
which case the obligation to return them is recorded at fair value as a trading liability under borrowings from
financial institutions.
6.6 Advances
Advances including continuous funding system and net investment in finance lease are stated net of provisions.
Provisions
Specific and general provisions are made based on an appraisal of the loan portfolio that takes into account
Prudential Regulations issued by the State Bank of Pakistan from time to time. Specific provisions are made where
the repayment of identified loans is in doubt and reflect an estimate of the amount of loss expected. The general
provision is for the inherent risk of losses which are known from experience to be present in any loan portfolio.
Provision made / reversed during the year is charged to the profit and loss account and accumulated provision
is netted off against advances.
Advances are written off when there is no realistic prospect of recovery.
Net investment in finance lease
Leases include hire purchase where the Bank transfers substantially all the risks and rewards incidental to the
ownership of an asset and are classified as finance leases. Net investment in finance lease is recognized at an
amount equal to the aggregate of minimum lease payments and any guaranteed residual value less unearned
finance income, if any.

6.7 Operating fixed assets

Owned
Property and equipment except freehold and leasehold land is stated at cost less accumulated depreciation and
accumulated impairment loss, if any. Freehold and leasehold land is stated at cost.
Depreciation is charged to income applying the straight line method over the estimated useful lives of the assets
while taking into account any residual value, at the rates given in Note 12.2 to these unconsolidated financial
statements. In respect of additions and deletions to assets during the year, depreciation is charged from the
month of acquisition while depreciation on disposals during the year is charged upto the month of disposal.
Normal repairs and maintenance are charged to the profit and loss account for the year as and when incurred.
Major repairs and improvements are capitalized and assets so replaced are retired.
Gains and losses on disposal of property and equipment if any, are taken to the profit and loss account for the year.
Assets held under finance lease
Leasehold land is stated at cost.
Assets held under finance lease are stated at cost less accumulated depreciation. The outstanding obligations
under the lease agreements are shown as a liability net of finance charges allocable to future periods. Depreciation
on assets held under finance lease is charged in a manner consistent with that for depreciable assets which are
owned by the Bank.
Finance charges are allocated to accounting periods so as to provide a constant periodic rate of return on the
outstanding liability.
Assets held under operating lease
Operating lease assets are stated at cost less accumulated depreciation and impairment, if any.
Repairs and maintenance are charged to the profit and loss account as and when incurred.
Capital work in progress
These assets are stated at cost.
6.8 Intangible assets

Intangible assets include the value of the brand, core deposit relationships, and core overdraft / working capital
loan relationships and are stated at cost less accumulated amortisation and accumulated impairment losses, if
any. Amortisation is charged to the profit and loss account on a straight line basis over the assets' useful lives
which are determined using methods that best reflect the pattern of economic benefits. The estimated useful lives
are as follows:
Brand 5 years
Core deposit relationships 11 years
Core overdraft / working capital loan relationships 11 years
Computer software is stated at cost less accumulated amortization and accumulated impairment loss, if any.
Amortization is carried out on the straight line method at the rates given in Note 13 to these unconsolidated
financial statements.
6.9 Sub-Ordinated loans

Sub-ordinated loans are initially recorded at the amount of proceeds received. Mark-up accrued on these loans
is recognized separately as part of other liabilities and is charged to the profit and loss account over the period
on an accrual basis.

6.10 Staff retirement benefits

Defined contribution plan
The Bank operates a defined contribution provident fund for all its permanent employees. Equal monthly contributions
are made to the fund by both the Bank and the employees at the rate of 10% of basic salary.
Defined benefit plan
The Bank operates an unfunded gratuity scheme covering all eligible employees who have attained the minimum
qualifying period of five years. Eligible employees are those employees who have joined the service of the Bank
on or before March 31, 2006. Provision is made in accordance with actuarial recommendations. Actuarial valuation
is carried out periodically using the “Projected Unit Credit Method”.
Actuarial gain / loss is recognized using the 10% corridor approach. Corridor is defined as the greater of 10%
of the present value of defined benefit obligations and plan assets.
6.11 Taxation
Income tax expense comprises current and deferred tax. Income tax expense is recognised in the profit and loss
account except to the extent that it relates to items recognised directly in equity.
Current
Provision for current taxation is based on taxable income at the current rates of taxation in accordance with the
prevailing laws for taxation on income earned after taking into consideration tax credits and rebates available
and any adjustments to tax payable in respect of previous years.
Deferred
Deferred tax is recognized using the balance sheet liability method on all major temporary differences as at the
statement of financial position date between the amounts attributed to assets and liabilities for financial reporting
purposes and amounts used for taxation purposes. The Bank records deferred tax assets / liabilities using tax
rates, enacted or substantially enacted at the statement of financial position date, that are expected to be applicable
at the time of their reversal.
A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available
against which the asset can be utilized. Deferred tax assets are reduced to the extent that it is no longer probable
that the related tax benefit will be realized.
The Bank recognizes a deferred tax asset / liability on deficit / surplus on revaluation of securities in accordance
with the requirements of IAS 12 "Income Taxes". The related deferred tax asset / liability is adjusted against the
related deficit / surplus.
The Bank recognizes a deferred tax asset for the carry forward of unused tax losses and unused tax credits to
the extent that it is probable that future taxable profits will be available against which the unused tax losses and
unused tax credits can be utilized in accordance with the requirements of IAS 12 "Income Taxes".
6.12 Provisions
Provisions are recognized when the Bank has a present obligation (legal or constructive) as a result of past events
and it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate of
the amount can be made. Provisions are reviewed quarterly and are adjusted to reflect the current best estimate.
6.13 Offsetting
Financial assets and financial liabilities are offset and the net amount is reported in the financial statements when
there is a legally enforceable right to set-off the recognized amount and the Bank intends either to settle on a net
basis, or to realize the assets and to settle the liabilities simultaneously. Income and expense items relating to
such assets and liabilities are also offset and the net amount is reported in the financial statements.

6.14 Dividend distribution

Dividend is recognized as a liability in the period in which it is declared.
6.15 Distributions of bonus shares and other appropriations to reserves

The Bank recognizes all appropriations, other than statutory appropriations, to reserves including those in respect
of bonus shares made after the balance sheet date, in the period in which such appropriations are approved.
6.16 Foreign currencies

Transactions in foreign currencies are translated to Rupees at the foreign exchange rates prevailing at the
transaction date. Monetary assets and liabilities in foreign currencies are translated into Rupees at the rates of
exchange prevailing at the balance sheet date. Forward foreign exchange contracts and foreign bills purchased
are valued at forward rates applicable to their respective maturities.
Commitments for outstanding forward foreign exchange contracts are disclosed in these unconsolidated financial
statements at committed amounts. Contingent liabilities / commitments for letters of credit and letters of guarantee
denominated in foreign currencies are expressed in Rupee terms at the rates of exchange approximating those
prevailing at the balance sheet date.
Assets against which the constituents have exercised their option to transfer exchange risk to the Bank and
liabilities for which the Bank has exercised its option to transfer exchange risk to the Government, are translated
at the rates of exchange guaranteed by the Bank and the Government, respectively.
Assets, liabilities, commitments and contingent liabilities in respect of Bangladesh are translated at foreign
exchange rates approximating those prevailing prior to August 15, 1971.
Exchange gains and losses are included in income currently except net unrealized exchange gain on long-term
monetary items which, as a matter of prudence, is carried forward as unrealized gain in view of the uncertainty
associated with its realization.
6.17 Cash and cash equivalents

For the purposes of the cash flow statement, cash and cash equivalents include cash and balances with treasury
banks and balances with other banks.
6.18 Financial instruments

All financial assets and liabilities are recognized at the time when the Bank becomes a party to the contractual
provisions of the instrument. Financial assets are derecognized when the Bank loses control of the contractual
rights that comprise the financial assets. Financial liabilities are derecognized when they are extinguished i.e.
when the obligation specified in the contract is discharged, cancelled or expired. Any gain or loss on derecognition
of the financial assets and financial liabilities is taken to income directly. Financial assets carried on the balance
sheet include cash and bank balances, lendings to financial institutions, investments, advances and certain
receivables. Financial liabilities include borrowings, deposits, bills payable and other payables. The particular
recognition methods adopted for significant financial assets and financial liabilities are disclosed in the individual
policy statements associated with them.
6.19 Derivative financial instruments

Derivative financial instruments are recognized at their fair value on the date on which a derivative contract is
entered into and subsequently these instruments are marked to market and changes in fair values are taken to
the profit and loss account. Fair values are obtained from quoted market prices in active markets.

6.20 Segment reporting

A segment is a distinguishable component of the Bank that is engaged in providing products or services (business
segment), or in providing products or services within a particular economic environment (geographical segment),
which is subject to risks and rewards that are different from those of other segments. The Bank’s primary format
of reporting is based on business segments.
6.20.1 Business Segments

Corporate and Investment Banking
It represents all funded and non funded credit facilities of working capital financing including seasonal finance,
trade finance, cash finance, running finance, guarantees and bills of exchange relating to corporate customers,
as well as for long term expansion, BMR, Project financing, syndicated financing along with advisory, underwriting,
transactional banking, and IPO related activities.
Retail
It represents banking services offered to individuals and small businesses through a retail branch banking and
alternate distribution network. These banking services include lending, deposits and distribution of insurance
products along with other financial products and services tailored for such customers.
Small & Medium Enterprises and Commercial
It represents all funded and non funded credit facilities, deposit products & transaction services offered by the
Bank to small & medium enterprises and commercial businesses operating in the manufacturing, trading, wholesale
and service sectors.
Treasury
Treasury manages the asset and liability mix of the Bank, and provides customers with products that meet their
demands for management of liquidity, cash flow, interest rate fluctuations and foreign exchange risk.
6.20.2 Geographical segments

The Bank operates in Pakistan only.
6.21 Assets acquired in satisfaction of claims

The Bank occasionally acquires assets in settlement of certain advances. These are stated at the lower of the
carrying value of the related advances and the current fair value of such assets.
6.22 Deposits
Deposits are initially recorded at the amount of proceeds received. Mark-up accrued on deposits is recognized
separately as part of other liabilities and is charged to the profit and loss account on a time proportionate basis.
6.23 Earnings per share

The Bank presents earnings per share (EPS) data for its ordinary shares. EPS is calculated by dividing the profit
or loss attributable to ordinary shareholders of the Bank by the weighted average number of ordinary shares
outstanding during the year.

Note 2011 2010

7. CASH AND BALANCES WITH TREASURY BANKS
(Rupees '000')
In hand
Local currency 7.1 2,236,526 2,155,334
Foreign currencies 254,442 277,891
With State Bank of Pakistan in
Local currency current accounts 7.2 3,852,169 4,287,132
Foreign currency current account 7.3 260,843 308,292
Foreign currency deposit accounts 7.4 807,546 1,034,595
With National Bank of Pakistan in local currency current accounts 557,518 773,205
7,969,044 8,836,449
7.1 This includes National Prize Bonds of Rs. 6.237 million (2010: Rs. 4.611 million).
7.2 The current account is maintained under the requirements of Section 22 of the Banking Companies Ordinance, 1962.
7.3 This includes special cash reserve at Nil return (2010: Nil) required to be maintained with the SBP on deposits held
under the new foreign currency accounts scheme.
7.4 This represents special cash reserve of 15% required to be maintained with the SBP on deposits held under the
new foreign currency accounts scheme at Nil return (2010: Nil) per annum.
8. BALANCES WITH OTHER BANKS

In Pakistan in current accounts 853,746 309,957
Outside Pakistan in current accounts 633,084 2,645,486
1,486,830 2,955,443
Provision against doubtful balances – (3,964)
1,486,830 2,951,479
8.1 Provision against doubtful balances represents impairment in balance outstanding with BCCI. The said amount has
been written off in the current year.
9. LENDINGS TO FINANCIAL INSTITUTIONS

Call money lendings 9.2 195,000 725,000
Repurchase agreement lendings (Reverse Repo) 9.3 & 9.4 14,471,918 5,704,166
14,666,918 6,429,166
9.1 Particulars of Lendings
In local currency 14,666,918 6,429,166
In foreign currencies – –
14,666,918 6,429,166
9.2 These represent unsecured call money lending to a financial institution carrying mark-up rate of 12.25% (2010:
12.75% to 15.00%) per annum and having remaining maturity of three days.
9.3 These represent repurchase agreement lendings to financial institutions carrying mark-up rates ranging from 11.63%
to 13.31% (2010: 12.70% to 13.90%) per annum and having remaining maturities upto one month.

9.4 Securities held as collateral against lendings to financial institutions

2011 2010
Held by Further Held by Further
Bank given as Total Bank given as Total
collateral / collateral /
sold sold
(Rupees '000')
Market Treasury Bills 5,969,968 7,998,376 13,968,344 499,931 3,461,900 3,961,831

Pakistan Investment Bonds 503,574 – 503,574 1,429,763 312,572 1,742,335
6,473,542 7,998,376 14,471,918 1,929,694 3,774,472 5,704,166
9.4.1 The market value of securities held as collateral against lendings to financial institutions as at December 31,
2011 amounted to Rs. 14,517.363 million (2010: Rs. 5,717.943 million).
10. INVESTMENTS
10.1 (a) Investments by type:

2011 2010
Held by Given as Total Held by Given as Total
Note Bank Collateral Bank Collateral
(Rupees '000')
Held-for-trading securities – – – – – –
Market Treasury Bills 10.2 7,687,909 18,826,953 26,514,862 12,450,355 18,562,576 31,012,931
Pakistan Investment Bonds 10.2 & 10.2.1 2,897,683 6,180,265 9,077,948 2,612,273 961,963 3,574,236
Defense Savings Certificates 10.3 – 2,730 2,730 5,771 2,730 8,501
Sukuk Bonds 10.4 528,774 – 528,774 505,126 – 505,126
Cumulative Preference Shares 10.5 80,178 – 80,178 50,000 – 50,000
Ordinary Shares / Certificates in
Listed Companies / Modarabas 10.6 961,085 112,373 1,073,458 1,053,073 112,373 1,165,446
Ordinary Shares of Unlisted Companies 10.7 66,092 – 66,092 66,049 – 66,049
Term Finance Certificates 10.8 & 10.9 2,372,733 – 2,372,733 5,171,496 – 5,171,496
Units / Certificates of Mutual Funds 10.10 13,005 – 13,005 269,172 – 269,172
14,607,459 25,122,321 39,729,780 22,183,315 19,639,642 41,822,957
Pakistan Investment Bonds 10.2 235,980 4,499,632 4,735,612 4,691,896 – 4,691,896

Term Finance Certificates 10.8 & 10.9 97,334 – 97,334 118,961 – 118,961
333,314 4,499,632 4,832,946 4,810,857 – 4,810,857
Associates 10.11 &10.16 1,573,832 – 1,573,832 1,573,832 – 1,573,832
Subsidiaries 10.12 &10.16 4,584,741 – 4,584,741 4,584,741 – 4,584,741

Investments at cost 21,099,346 29,621,953 50,721,299 33,152,745 19,639,642 52,792,387
Provision for diminution in
value of investments 10.13 & 10.14 (1,188,688) (65,863) (1,254,551) (923,899) (24,873) (948,772)
Investments - net of provisions 19,910,658 29,556,090 49,466,748 32,228,846 19,614,769 51,843,615
Surplus / (Deficit) on revaluation of
available-for-sale securities 22 55,249 76,833 132,082 22,924 (77,504) (54,580)
Net Investments 19,965,907 29,632,923 49,598,830 32,251,770 19,537,265 51,789,035

Note 2011 2010

(Rupees '000')
10.1(b) Investments by segments:
Federal Government Securities

Market Treasury Bills 10.2 26,514,862 31,012,931
Pakistan Investment Bonds 10.2 & 10.2.1 13,813,560 8,266,132
Defense Savings Certificates 10.3 2,730 8,501
Sukuk Bonds 10.4 528,774 505,126

Cumulative Preference Shares 10.5 80,178 50,000
Fully Paid-up Ordinary Shares & Modaraba Certificates

Listed 10.6 1,073,458 1,165,446
Unlisted 10.7 66,092 66,049
Term Finance Certificates

Listed 10.8 2,311,691 2,321,843
Unlisted 10.9 158,376 2,968,614
Units / Certificates of Mutual Funds 10.10 13,005 269,172
Associates 10.11 & 10.16 1,573,832 1,573,832
Subsidiaries 10.12 & 10.16 4,584,741 4,584,741

Total investments at cost 50,721,299 52,792,387
Provision for diminution in value of investments 10.13 & 10.14 (1,254,551) (948,772)
Investments - Net of Provisions 49,466,748 51,843,615
Surplus / (Deficit) on revaluation of available-for-sale securities 22 132,082 (54,580)

Net Investments 49,598,830 51,789,035
10.2 Market Treasury Bills and Pakistan Investment Bonds are held with the SBP and are eligible for rediscounting.
Market Treasury Bills embody effective yields ranging from 11.92% to 13.35% (2010: 12.02% to 13.78%) with
remaining maturities of 138 days to 320 days and Pakistan Investment Bonds carry mark-up ranging from 8% to
12% (2010: 8% to 14% ) per annum on semi-annual basis with remaining maturities of 116 days to 10 years. Certain
government securities are required to be maintained with the SBP to meet statutory liquidity requirements calculated
on the basis of demand and time liabilities.
10.2.1 This includes Rs. 100 million PIB outstanding as at December 31, 2011, which was pledged against borrowing
from a Company in 2004. As the lender had failed to return the pledged PIB upon the maturity of the contract
period, this amount is appearing as investment in PIBs with a corresponding amount appearing in Borrowings.
No interest is accrued either as income from the PIB or as expense on this borrowing since the filing of the dispute
between the Bank and the Company.
10.3 These DSCs of Rs. 2.730 million are pledged as security and carry interest rate at 12.15 % per annum.
10.4 These Sukuk Bonds of Liberty Power Tech Limited carry mark-up rate of 3 months KIBOR + 300 bps and have
an original maturity of 12 years.

10.5 Particulars of investment in Cumulative Preference Shares
Number of
Shares held Total nominal value
Investee Note 2011 2010 2011 2010
(Rupees '000')
Pak Elektron Limited 10.5.1 2,500,000 2,500,000 25,000 25,000

Fazal Cloth Mills Limited 10.5.2 2,500,000 2,500,000 25,000 25,000
Galaxy Textile Mills Limited 10.5.3 3,017,800 – 30,178 –
80,178 50,000
10.5.1 These preference shares carry fixed dividend of 9.5% on cumulative basis payable when and if declared by the
Board of Directors. For redemption, the call option can be exercised by PEL up to 100% after three years of the
issue date at 1% premium on the issue price.
10.5.2 These preference shares are redeemable upon the exercise of a call option by the company after completion of
three years from the issue date.
10.5.3 These preference shares are non voting and convertible into ordinary shares after 10 years. These preference
shares bears a fixed return at the rate of 5% per annum that will be non cumulative for the first five years and
thereafter will be cumulative from year to year.
10.6 Particulars of investment in Listed Shares / Certificates
Number of Shares /
Certificates held Cost of Investment
2011 2010 2011 2010
(Rupees '000')
Available-for-sale
Abbott Laboratories (Pakistan) Limited 721,281 738,086 149,705 151,814

Adamjee Insurance Company Limited 1,533,330 1,533,330 172,304 172,304
Agriauto Industries Limited – 311,572 – 21,504
Awan Textile Mills Limited 39,000 39,000 390 390
Bank Alfalah Limited – 1,000,000 – 14,339
Bank AL Habib Limited 390,449 742,041 10,928 24,023
Brother Textile Mills Limited 87 87 2 2
Dewan Farooq Motors Limited – 944,225 – 30,184
Fatima Fertilizer Company Limited – 195,349 – 2,755
First Fidelity Lease Modaraba 1 1 – –
First National Bank Modaraba 581,880 699,751 4,946 5,948
First Tawakal Modaraba 446,774 446,774 – –
Glamour Textile Mills Limited 200,000 200,000 5,016 5,016
GlaxoSmithKline Pakistan Limited 568,977 576,254 95,192 110,407
Habib Insurance Company Limited *1,613,557 *1,533,457 83,772 89,231
Ibrahim Fibres Limited 300 300 5 5
Karam Ceramics Limited 429,146 430,146 8,321 8,326
KSB Pumps Company Limited 111,017 114,774 20,044 20,554
Lafarge Pakistan Cement Limited GDR
(formerly Pakistan Cement Limited) 10,000 10,000 2,819 2,819

Number of Shares /
Certificates held Cost of Investment
2011 2010 2011 2010
(Rupees '000')
Available-for-sale
LTV Capital Modaraba Redeemable Capital *171,473 *171,473 5,573 5,573

Millat Tractors Limited 408,592 413,592 152,971 150,910
Mohib Textile Mills Limited 5 5 – –
Security Investment Bank Limited 10 10 – –
Security Papers Limited – 151,538 – 7,442
Sitara Chemical Industries Limited 105,126 105,862 33,640 33,735
Tariq Glass Industries Limited 6,349,212 2,116,404 90,022 37,113
Tawakal Garment Limited 150,000 150,000 – –
The Hub Power Company Limited 7,289,451 8,314,581 237,805 271,049
Trust Modaraba 100 100 1 1
Yousuf Weaving Mills Limited 100 100 2 2
Total Listed Shares / Certificates 1,073,458 1,165,446
Percentage Number of Cost of

Note of holding Shares held Investment
2011 2010 2011 2010
(Rupees '000')
10.7 Particulars of Unlisted Shares
Pakistan Export Finance Guarantee Agency Limited
Chief Executive: Syed Mohammad Zaeem 10.7.1 5.26% 568,044 568,044 5,680 5,680
Central Depository Company of Pakistan Limited

Chief Executive: Mr. Muhammad Hanif Jakhura 10.7.2 5.00% 3,250,000 2,500,000 5,000 5,000
Crescent Capital Management (Private) Limited

Chief Executive: Mr. Mahmood Ahmed 10.7.3 4.88% 100,000 100,000 1,000 1,000
Equity Participation Fund Limited

Chief Executive: Mr. S. Shabahat Hussain 10.7.4 0.97% **5,087 **5,087 509 509
Pakistan Textile City (Private) Limited

Chief Executive: Mr. Zaheer A. Hussain 10.7.5 4.00% 5,000,000 5,000,000 50,000 50,000
National Investment Trust Limited

Chief Executive: Mr. Wazir Ali Khoja 10.7.6 8.33% **79,200 **79,200 100 100
Sunbiz (Private) Limited

Chief Executive: Mr. Nisar Ahmed 10.7.7 4.65% 10,000 10,000 1,000 1,000
SWIFT
Chief Executive: Mr. Lazaro Campos 10.7.8 8.09% ***9 ***9 2,803 2,760
66,092 66,049

10.7.1 This investment is fully provided in these unconsolidated financial statements.

10.7.2 Value of investment, based on the net assets stated in the audited financial statements of investee company as
at June 30, 2011 amounts to Rs. 80.646 million.
at June 30, 2011 amounts to Rs. 1,140.824 million.
at December 31, 2010 amounts to Rs. 2.785 million.
Number of Amortized
Certificates held cost
2011 2010 2011 2010
(Rupees '000')
10.8 Particulars of investment in Listed
Investee
Askari Bank Limited 53,120 37,320 267,238 186,500
Azgard Nine Limited 10,000 10,000 37,509 37,584
Bank Alfalah Limited 60,000 60,000 300,047 300,197
Engro Fertilizer Limited
(formerly Engro Corporation Limited) 223,438 199,038 1,102,224 978,687
Escorts Investment Bank Limited 2,016 2,016 3,022 5,036
Orix Leasing Pakistan Limited 76,400 71,400 63,155 173,912
PACE Pakistan Limited 6,000 6,000 29,964 29,976
Pakistan Mobile Communications Limited 24,000 24,000 59,904 99,840
Soneri Bank Limited 6,000 6,000 22,446 29,934
Summit Bank Limited 10,000 – 50,000 –
Telecard Limited 74,888 74,888 137,607 136,052
United Bank Limited 45,000 65,000 210,315 301,727
2,311,691 2,321,843
10.9 Particulars of investment in Unlisted

Avari Hotels Limited 30,400 30,400 129,070 129,070
New Khan Transport Company (Private) Limited 20,000 20,000 29,306 50,544
Power Holdings (Private) Limited – 557,800 – 2,789,000
158,376 2,968,614

Number of Units / Cost of

Certificates held Investment
2011 2010 2011 2010
(Rupees '000')
10.10 Particulars of investment in Mutual Funds
Atlas Money Market Fund – 98,500 – 50,000
Faysal Savings Growth Fund – 951,022 – 100,000
First Dawood Mutual Fund 900,000 900,000 6,975 6,975
JS Growth Fund 227,410 227,410 2,911 2,911
JS Large Capital Fund 64,211 38,509 3,119 3,119
NAFA Government Securities Liquid Fund – 1,500,000 – 15,000
NAFA Savings Plus Fund – 1,500,000 – 15,000
Pakistan Strategic Allocation Fund – 8,370,000 – 76,167
13,005 269,172
Number of Shares / Cost of

Note Units / Certificates Investment
2011 2010 2011 2010
(Rupees '000')
10.11 Particulars of investment in Associates
PICIC Energy Fund 11,130,160 11,130,160 83,476 83,476
PICIC Growth Fund 15,132,858 15,132,858 510,917 510,917
PICIC Insurance Limited 10,499,993 10,499,993 345,900 345,900
PICIC Investment Fund 41,544,649 41,544,649 633,539 633,539
1,573,832 1,573,832
10.12 Particulars of investment in Subsidiaries

PICIC Asset Management
Company Limited 10.16 299,999,993 299,999,995 4,584,017 4,584,017
Financial and Management
Services (Private) Limited ** 88,850 88,850 724 724
4,584,741 4,584,741
Unless otherwise stated, holdings in modaraba certificates and ordinary shares are of Rs. 10 each.
* Shares / Modaraba Certificates of Face Value of Rs. 5 each
** Shares / Modaraba Certificates of Face Value of Rs. 100 each
*** Shares of Face Value of Euro 2,680 each
All Term Finance Certificates are of Original Face Value of Rs. 5,000 each

2011 2010
(Rupees '000')
10.13 Particulars of provision for diminution in value of investments
Opening balance 948,772 1,053,969

Charge for the year 416,505 284,915
Reversals for the year
- Term Finance Certificates (21,238) (3,015)
- Associates – (157,379)
395,267 124,521
Reversal due to sale / change in category (89,488) (229,718)
Closing balance 1,254,551 948,772
10.14 Particulars of Provision in respect of Type and Segment
- Listed shares / Certificates / Units 432,836 407,436
- Unlisted shares 49,845 15,837
- Term Finance Certificates 80,561 50,544
563,242 473,817
Associates
Subsidiaries
- Unlisted shares 724 724
1,254,551 948,772
2011 2010
(Rupees '000') Rating (Rupees '000') Rating
10.15 Quality of Available-for-Sale

Securities - at Market Value
Market Treasury Bills 26,634,300 Unrated 30,956,373 Unrated
Pakistan Investment Bonds 9,038,705 Unrated 3,389,587 Unrated
Defense Savings Certificates 2,730 Unrated 8,501 Unrated
Sukuk Bonds 528,774 Unrated 505,126 Unrated
Cumulative Preference shares
Pak Elektron Limited 25,000 BBB/A3 25,000 A/A1
Fazal Cloth Mills Limited 25,000 A-/A2 25,000 A-/A2
Galaxy Textile Mills Limited 30,178 * – –
Ordinary shares of Listed Companies
Abbott Laboratories Pakistan Limited 71,977 * 80,998 *
Adamjee Insurance Company Limited 71,315 AA 134,166 AA
Agriauto Industries Limited – – 23,742 *

2011 2010
Bank AL Habib Limited 11,140 AA+/A1+ 26,906 AA+/A1+

Bank Alfalah Limited – – 11,210 AA / A1+
Dewan Farooq Motors Limited – – 2,153 *
Fatima Fertilizer Company Limited – – 2,204 A/A1
First National Bank Modaraba 4,160 A+/A-1 4,604 A+/A-1
GlaxoSmithKline Pakistan Limited 38,167 * 50,820 *
Habib Insurance Company Limited 15,894 A+ 21,545 A+
Karam Ceramics Limited 2,189 * 3,355 *
K.S.B. Pumps Limited 2,699 * 6,899 *
Millat Tractors Limited 149,222 * 206,705 *
Security Papers Limited – – 6,798 AAA / A-1+
Sitara Chemicals Industries Limited 7,590 A+/A-1 13,524 AA-/A-1
Tariq Glass Limited 52,063 * 43,429 *
The Hub Power Company Limited 249,299 AA+/A1+ 311,048 AA+/A1+
Ordinary shares of Unlisted Companies
Central Depository Company of Pakistan Limited 5,000 * 5,000 *
Crescent Capital Management (Private) Limited 1,000 * 1,000 *
Equity Participation Fund Limited 509 * 509 *
National Investment Trust Limited 100 AM2 100 AM2
Pakistan Export Finance Guarantee Agency Limited 5,680 * 5,680 *
Pakistan Textile City (Private) Limited 50,000 * 50,000 *
Sun Biz (Private) Limited 1,000 * 1,000 *
SWIFT 2,803 * 2,760 *
Units / Certificates of Mutual Funds
Atlas Money Market Fund – – 50,777 AA+(f)
Faysal Saving Growth Fund – – 100,000 A(f)
First Dawood Mutual Fund 1,530 FR 2-STAR / 1,800 FR 2-STAR /
2-STAR 3-STAR
JS Growth Fund 1,069 * 1,262 FR 3-STAR
JS Large Capital Fund 2,462 * 2,509 *
NAFA Government Securities Liquid Fund – – 15,467 AAA(f)
NAFA Savings Plus Fund – – 15,424 AA-(f)
Pakistan Strategic Allocation Fund – – 70,308 FR 4-STAR
Askari Bank Limited 271,226 AA- 188,735 AA-
Avari Hotels Limited 129,070 A-(SO) 129,070 A-
Azgard Nine Limited 18,785 D 18,110 CCC(RW)
Bank Alfalah Limited 308,454 AA- 294,916 AA-
(formerly Engro Corporation Limited) 1,104,900 AA 982,381 AA
Escorts Investment Bank Limited 2,228 BB 4,996 A
New Khan Transport Company (Private) Limited 29,306 * 50,544 *
Orix Leasing Pakistan Limited 61,586 AA+ 176,941 AA+
PACE Pakistan Limited 29,964 D 29,096 A+(-)

2011 2010
Pakistan Mobile Communication Limited 60,066 A+ 99,822 A+

Power Holdings (Private) Limited – * 2,789,000 *
Summit Bank Limited 48,066 A (SO) – –
Telecard Limited 134,697 D 128,904 BBB
United Bank Limited 199,123 AA 285,137 AA
39,429,026 41,360,941
* Rating not available
10.16 As per BSD circular No. 6 of 2007 dated September 6, 2007, investments in subsidiaries and associates are
required to be reported separately and should be carried at cost. However, as per IAS 36, these need to be
tested for impairment, if there is indication that such impairment may exist.
Management has tested the investment in its subsidiary, PICIC Asset Management Company Limited for impairment
using a value in use calculation. The value in use calculation indicates that the value of the investment in the
subsidiary exceeds the cost of investment, therefore no impairment was made during the year.
Note 2011 2010

(Rupees '000')
11. ADVANCES
Loans, cash credits, running finance, etc. - in Pakistan 11.1 77,735,586 91,956,269
Net investment in finance lease - in Pakistan 11.3 1,975,733 2,310,162
Bills discounted and purchased (excluding Treasury Bills)

Payable in Pakistan 225,889 247,310
Payable outside Pakistan 4,534,870 3,830,813
Advances - Gross 84,472,078 98,344,554
Provision against non performing advances - Specific 11.4 (23,345,559) (22,826,463)
- General (282,139) (952,076)
11.5 (23,627,698) (23,778,539)
Advances - Net of provision 60,844,380 74,566,015
11.1 This includes a sum of Rs. 72.337 million (2010: Rs. 72.337 million) representing unrealized exchange gain, which
has not been recognised as income and deferred in these unconsolidated financial statements, in accordance
with the policy of the Bank, as stated in note 6.16.
11.2 Particulars of advances

11.2.1 In local currency 79,145,864 93,953,934
In foreign currencies 5,326,214 4,390,620
84,472,078 98,344,554
11.2.2 Short term (for upto one year) 71,454,623 81,579,926

Long term (for over one year) 13,017,455 16,764,628
84,472,078 98,344,554

11.3 Net Investment in Finance Lease

2011
Not later Later than Over five
than one one and less years Total
year than five years
(Rupees '000')
Lease rentals receivable 1,835,620 31,545 – 1,867,165

Residual value 530,913 – – 530,913
Minimum lease payments 2,366,533 31,545 – 2,398,078
Financial charges for future periods
(including income suspended) (419,332) (3,013) – (422,345)
Present value of minimum lease payments 1,947,201 28,532 – 1,975,733
2010
Not later Later than Over five
than one one and less years Total
year than five years
(Rupees '000')

Residual value 731,926 25,282 – 757,208
11.3.1 A major portion of these leases are non performing against which provision of Rs. 1,433.547 million has been held.
11.4 Advances include Rs. 34,194.582 million (2010: Rs. 34,711.468 million) which have been placed under
non-performing status as detailed below:
2011
Note Classified Advances Provision Required Provision Held
Domestic Overseas Total Domestic Overseas Total Domestic Overseas Total

(Rupees '000')
Category of
Classification
Substandard 3,163,483 – 3,163,483 604,976 – 604,976 604,976 – 604,976

Doubtful 1,914,497 – 1,914,497 348,750 – 348,750 348,750 – 348,750
Loss 11.4.1 29,116,602 – 29,116,602 22,391,833 – 22,391,833 22,391,833 – 22,391,833
34,194,582 – 34,194,582 23,345,559 – 23,345,559 23,345,559 – 23,345,559

2010
Classified Advances Provision Required Provision Held
(Rupees '000')
Category of
Classification
Substandard 6,276,443 – 6,276,443 1,353,623 – 1,353,623 1,353,623 – 1,353,623

Doubtful 5,966,804 – 5,966,804 2,859,483 – 2,859,483 2,859,483 – 2,859,483
Loss 22,468,221 – 22,468,221 18,613,357 – 18,613,357 18,613,357 – 18,613,357
34,711,468 – 34,711,468 22,826,463 – 22,826,463 22,826,463 – 22,826,463
11.4.1 Included in the Provision required is an amount of Rs. 594.565 million (2010: Rs. 1,329.967 million) which represents
provision in excess of the requirements of the State Bank of Pakistan.
11.4.2 In accordance with BSD Circular No. 1 dated October 21, 2011 issued by the State Bank of Pakistan, the Bank has
availed the benefit of FSV against the non-performing advances. Had the benefit of FSV not been availed by the Bank
the specific provision against non-performing advances for the year ending December 31, 2011 would have been
higher by Rs. 3,823.874 million (cumulative upto December 31, 2011: Rs. 6,948.242 million) and profit after tax for the
year ending December 31, 2011 would have been lower by approximately Rs. 3,823.874 million (cumulative upto
December 31, 2011: Rs. 5,854.713 million). Increase in profit would not be available for the distribution of cash and
stock dividend to shareholders.
11.5 Particulars of provision against non-performing advances
2011 2010
Note Specific General Total Specific General Total
(Rupees '000')
Opening balance 22,826,463 952,076 23,778,539 15,746,457 232,894 15,979,351
Charge for the year 5,754,521 – 5,754,521 10,603,469 804,406 11,407,875

Reversals (2,729,510) (669,937) (3,399,447) (1,450,127) (85,224) (1,535,351)
3,025,011 (669,937) 2,355,074 9,153,342 719,182 9,872,524
Amounts written off 11.6 (2,505,915) – (2,505,915) (2,073,336) – (2,073,336)
Closing balance 23,345,559 282,139 23,627,698 22,826,463 952,076 23,778,539
11.5.1 Particulars of provision against non-performing advances - currency wise

2011 2010
Specific General Total Specific General Total
(Rupees '000')
In local currency 23,345,559 282,139 23,627,698 22,826,463 952,076 23,778,539

In foreign currencies – – – – – –
23,345,559 282,139 23,627,698 22,826,463 952,076 23,778,539

Note 2011 2010

(Rupees '000')
11.6 Particulars of write offs:
11.6.1 Against provisions 2,505,915 2,073,336

Directly charged to profit and loss account 15,802 53,359
2,521,717 2,126,695
11.6.2 Write offs of Rs. 500,000 and above 11.7 254,056 222,174
Write offs of below Rs. 500,000 11.7 2,267,661 1,904,521
2,521,717 2,126,695
11.7 Details of loan write offs of Rs. 500,000 and above

In terms of sub-section (3) of section 33A of the Banking Companies Ordinance, 1962, the statement in respect
of written off loans or any financial relief of five hundred thousand rupees or above allowed to person(s) during
the year ended December 31, 2011 is given in Annexure 1. However, this write off does not affect the Bank's right
to recover these debts from any of its customers.
11.8 Particulars of loans and advances to directors, associated companies etc.
Debts due by directors, executives or officers of the Bank or any of them either severally or jointly with any other persons
Note 2011 2010

(Rupees '000')
Balance at the beginning of the year 1,384,159 1,347,471
Additions / granted during the year 594,180 603,631
Repayments / transferred during the year (777,352) (566,943)
Balance at the end of the year 1,200,987 1,384,159
Debts due by subsidiary companies, controlled firms, managed modarabas and other related parties
Balance at the beginning of the year 29,797 –
Loans granted during the year 85,381 53,170
Repayments during the year (90,181) (23,373)
Balance at the end of the year 24,997 29,797
12. OPERATING FIXED ASSETS

Capital work in progress 12.1 162,308 59,678
Property and equipment 12.2 2,531,487 2,659,297
2,693,795 2,718,975
12.1 Capital work in progress
Civil works 1,123 49,652
Equipment and electrical work 154,980 2,431
Advances to suppliers and contractors – 2,460
Advance for computer software 6,205 4,114
Others – 1,021
162,308 59,678

46
12.2 Property and Equipment
2011
C O S T DEPRECIATION Net Book Rate of

As at As at Accumulated For the Accumulated value as at Depreciation
Particulars Note January Additions / December as at January year / as at December December %
01, 2011 (Deletions) Adjustment (Write - offs) 31, 2011 01, 2011 (on deletions) Adjustment (Write-offs) 31, 2011 31, 2011 per annum
(Rupees '000')
Freehold land 336,617 – – – 336,617 – – – – – 336,617 –

Leasehold land 12.2.3 1,064,456 – – – 1,064,456 15,634 – – – 15,634 1,048,822 –
Buildings on freehold land 584,330 – – – 584,330 189,005 29,688 – – 218,693 365,637 5%
Buildings on leasehold land 158,073 – – – 158,073 33,190 7,661 – – 40,851 117,222 5%
Furniture and fixtures 224,454 7,201 – – 228,337 111,048 20,610 – – 130,026 98,311 10%
(2,866) (452) (1,587) (45)
Electrical, office and
computer equipment 1,345,818 60,127 – – 1,400,757 953,708 174,741 – – 1,123,460 277,297 10% to 33%
(5,188) (4,989)
Vehicles 32,642 3,451 – – 35,258 20,842 4,793 – – 24,800 10,458 20%
(835) (835)
Leasehold Improvements 756,810 76,949 – – 833,516 520,476 36,108 – – 556,393 277,123 10%
(243) (191)
4,503,200 147,728 – 4,641,344 1,843,903 273,601 – – 2,109,857 2,531,487
(9,132) (452) (7,602) (45)
12.2.1 Included in cost of property and equipment are fully depreciated items still in use having cost of Rs. 949.233 million (2010: Rs. 748.266 million).
12.2.2 Carrying amount of temporarily idle property is Rs. 891.219 million (2010: Rs. 910.138 million).
12.2.3 This includes a plot of land costing Rs. 361 million in Block-6, KDA Scheme-5, Clifton, Karachi (the “Plot”), possession of which was taken by the Bank
(formerly PICIC) in April 1983 pursuant to an allotment order by City District Government Karachi (“CDGK”) (formerly Karachi Development Authority). All
the legal dues in respect of the Plot including Non-utilization Fees have been paid. In 2000, CDGK cancelled the allotment unilaterally based on certain
building and construction restrictions. The Bank filed a Civil Suit against CDGK before the High Court of Sindh in respect of the said unilateral cancellation
of the allotment. Meanwhile, also in 2000, a dispute arose with KPT in respect of construction of a boundary wall on the Plot by KPT as KPT claimed that
the land had been reverted to KPT. The said claim by KPT was also challenged by way of Civil Suit before the High Court of Sindh. The High Court of
Sindh initially issued restraining orders against CDGK and KPT in the respective suits in respect of cancellation of the allotment of the Plot. Subsequently,
both the suits were decided in favor of the Bank. In the suit filed against CDGK, the High Court of Sindh held that the action of cancellation of the allotment
by CDGK was improper and void, whereas, in the suit against KPT, the High Court of Sindh held that since allotment in favor of the Bank was valid therefore,
KPT had no standing to claim that the land had been reverted back to KPT. Both the decisions of the High Court of Sindh are currently being challenged
in two separate High Court Appeals by CDGK and KPT and the same are still pending. Furthermore, in November 2008, KPT filed a Civil Suit seeking a
declaration from the High Court of Sindh to the effect that the Plot had been validly reverted to KPT. At present, the Bank is actively defending the case.
Annual Report 2011

Property and Equipment
2010

As at As at Accumulated For the Accumulated value as at Depreciation
01, 2010 (Deletions) Transfers (Write - offs) 31, 2010 01, 2010 (on deletions) Transfers (Write-offs) 31, 2010 31, 2010 per annum
Annual Report 2011

(Rupees '000')
Freehold land 336,617 – – – 336,617 – – – – – 336,617 –

Leasehold land 12.2.3 1,064,456 – – – 1,064,456 15,634 – – – 15,634 1,048,822 –
Furniture and fixtures 241,668 3,698 825 (16,278) 224,454 98,852 22,371 1,571 (9,029) 111,048 113,406 10%
(5,459) (2,717)
computer equipment 1,358,350 111,891 (5,806) (113,171) 1,345,818 841,732 227,579 (1,560) (109,361) 953,708 392,110 10% to 33%
(5,446) (4,682)
Vehicles 35,472 39 – (2,332) 32,642 18,190 5,515 – (2,332) 20,842 11,800 20%
(537) (531)
Leasehold Improvements 957,151 54,762 7,252 (261,252) 756,810 624,343 96,418 1,920 (201,400) 520,476 236,334 10%
(1,103) (805)
4,736,117 170,390 2,271 (393,033) 4,503,200 1,785,865 386,964 1,931 (322,122) 1,843,903 2,659,297
(12,545) (8,735)
12.2.4 Detail of disposal of property and equipment during the year

Description Cost Accumulated Book Sales Mode of disposal Particulars of buyer
depreciation value proceeds
(Rupees '000')
Vehicles 835 835 – 493 EX-PICIC SERVICES RULES TAHSIN AHMED MAHMUDI
Items individually having cost less
than Rs. 1 million or net book value
not exceeding Rs. 0.25 million
- Computer Equipment 1,899 1,879 20 239
- Furniture and fixtures 2,866 1,587 1,279 1,857
- Leasehold improvements 243 191 52 639
- Office equipment 3,289 3,110 179 824
Sub Total 8,297 6,767 1,530 3,559
2011 9,132 7,602 1,530 4,052
2010 12,545 8,735 3,810 3,078
47
48
13. INTANGIBLE ASSETS
2011
COST AMORTIZATION / IMPAIRMENT
As at As at Accumulated Amortization Accumulated Net Book Rate of
Particulars January Additions December as at January for the year as at value as at Amortization
01, 2011 31, 2011 01, 2011 December December %
31, 2011 31, 2011 per annum
(Rupees '000')
Core Deposit Relationships 2,489,453 – 2,489,453 792,098 226,314 1,018,412 1,471,041 9.09%
Core Overdraft/Working
Capital Loan Relationships 124,149 – 124,149 73,953 6,693 80,646 43,503 9.09%
Brand 204,116 – 204,116 142,883 40,822 183,705 20,411 20%
Computer Software 832,587 3,886 836,473 222,223 94,779 317,002 519,471 10% to 50%
3,650,305 3,886 3,654,191 1,231,157 368,608 1,599,765 2,054,426
13.1 Included in cost of computer software are fully amortized items still in use having cost of Rs. 102.952 million (2010: Rs. 88.359 million.)
2010
COST AMORTIZATION / IMPAIRMENT
As at As at Accumulated Amortization Accumulated Net Book Rate of
Particulars January Additions Transfers Adjustments (Write-offs) December as at January for the year Transfers Adjustments (Write-offs) as at value as at Amortization
01, 2010 31, 2010 01,2010 December December %
31, 2010 31, 2010 per annum
(Rupees '000')
Goodwill 25,261,472 – – (25,261,472) – – 1,040,000 – – (1,040,000) – – –

Core Deposit Relationships 2,489,453 – – – – 2,489,453 565,784 226,314 – – – 792,098 1,697,355 9.09 %
Core Overdraft/Working
Capital Loan Relationships 124,149 – – – – 124,149 67,260 6,693 – – – 73,953 50,196 9.09 %
Brand 204,116 – – – – 204,116 102,060 40,823 – – – 142,883 61,233 20 %
Computer Software 767,638 95,052 (2,271) – (27,832) 832,587 128,453 97,395 (1,931) – (1,694) 222,223 610,364 10% to 50%
28,846,828 95,052 (2,271) (25,261,472) (27,832) 3,650,305 1,903,557 371,225 (1,931) (1,040,000) (1,694) 1,231,157 2,419,148
13.2 Goodwill
From an accounting perspective, at the time of the acquisition and merger of Pakistan Industrial Credit and Investment Corporation Limited (PICIC) and PICIC Commercial Bank Limited (PCBL) into
the Bank, goodwill of Rs. 25,261 million was created on the books of the Bank, which reflected the value that was paid for the PICIC and PCBL shares over the fair value of net assets. It is the Bank's
view that it will derive substantial value from businesses, customers and the branch network acquired in the merger with PICIC and PCBL. Under the new strategies, this value will be derived more
from the liabilities side of the business as opposed to the assets side. As the original intent of how value would be derived has been changed for now the Bank has decided to adjust the Goodwill
that it is carrying on the books in a manner that is consistent with its new business realities. Consequently in 2010, the Bank has adjusted the full amount of the goodwill appearing in its books at Rs.
24,221 million directly into equity and the State Bank of Pakistan has indicated its No Objection to this accounting treatment.
13.3 Annual test for impairment
Intangibles
In the current year, the Bank assessed the recoverable amount of core overdraft / working capital loan relationships, core deposit relationships and brand and determined that no impairment loss exists.
Annual Report 2011

Note 2011 2010

(Rupees '000')
14. DEFERRED TAX ASSETS

Deferred debits arising due to:
Provision against loans and advances 8,880,336 7,329,965
Provision against other receivables 259,790 281,304
Provision against balances with other banks – 1,387
Gratuity – 6,943
Unused tax losses 3,699,934 2,777,890
Intangibles 25,911 35,834
Excess of tax base of government securities / investments
over accounting base 429,189 413,992
13,295,160 10,847,315
Deferred credits arising due to:
Excess of accounting base of leased asset over tax base (140,383) (116,322)
Accelerated accounting depreciation on owned assets (734,069) (736,614)
Fair valuation of subsidiaries and associates (511,079) (532,714)
Surplus / (Deficit) on revaluation of securities (39,648) 55,299
Unrealised exchange gains 14.2 (2,377) (2,377)
Unrealised exchange losses 14.3 (33,604) (33,604)
(1,461,160) (1,366,332)
Deferred tax Assets 11,834,000 9,480,983
Unrecognised deferred tax assets 14.1 (817,000) –
Recognised deferred tax assets 11,017,000 9,480,983
14.1 The deferred tax asset recognised in the books have been restriced to Rs. 11,017 million due to uncertainty of
availability of future tax profits for utilization of the unrecognised deferred tax assets. The deductible differences
available to the Bank are Rs. 11,834 million. Had these been taken completely, the profit after tax would be higher
by Rs 817 million.
The management has recorded deferred tax asset based on financial projections indicating realisibility of deferred
tax asset over a number of future years through reversals as a result of recoveries from borrowers and realisibility
of remaining deferred tax asset against future taxable profits. The financial projections involve certain key
assumptions such as deposits composition, interest rates, growth of deposits and advances, investment returns
and potential provision / reversals against assets. Any significant change in the key assumptions may have an
effect on the realisibility of the deferred tax asset.
14.2 In 1987 and 1989, the Bank (formerly PICIC) exercised its option to avail the exchange risk coverage offered by
the Government of Pakistan, Ministry of Finance and Economic Affairs (Economic Affairs Division), through Office
Memo 1(16)/50/DM/86 dated July 8, 1987 and 1(12)/50/DM/89 dated June 1, 1989 respectively and, in turn the
Bank (formerly PICIC) offered the risk coverage to its Borrowers.
14.3 The unrealised exchange losses of the Bank (formerly PICIC) as on April 21, 1987, the effective date of exercise
of both the options arising on related borrowings as reduced by gains arising on related advances was claimed
as loss for tax purposes.

14.4 Movement in temporary differences during the year:

2011
Balance as at Recognised in Recognised in Balance as at
January profit and loss equity December
01, 2011 account 31, 2011
(Rupees '000')
Provision against loans and advances 7,329,965 1,550,371 – 8,880,336
Provision against other receivables 281,304 (21,514) – 259,790
Provision against balances with other banks 1,387 (1,387) – –
Gratuity 6,943 (6,943) – –
Unused tax losses 2,777,890 922,044 – 3,699,934
Intangibles 35,834 (9,923) – 25,911
Excess of tax base of government securities /
investments over accounting base 413,992 15,197 – 429,189

Excess of accounting base of leased
asset over tax base (116,322) (24,061) – (140,383)
Accelerated accounting depreciation
on owned assets (736,614) 2,545 – (734,069)
Fair valuation of subsidiaries and associates (532,714) 21,635 – (511,079)
Surplus / (Deficit) on revaluation of securities 55,299 – (94,947) (39,648)
Unrealised exchange gains (2,377) – – (2,377)
Unrealised exchange losses (33,604) – – (33,604)
Deferred tax assets 9,480,983 2,447,964 (94,947) 11,834,000
Unrecognised deferred tax assets – (817,000) – (817,000)
Recognised deferred tax assets 9,480,983 1,630,964 (94,947) 11,017,000
2010
Balance as at Recognised in Recognised in Balance as at
January profit and loss equity / others December
01, 2010 account 31, 2010
(Rupees '000')
Provision against loans and advances 6,393,933 1,287,791 (351,759) 7,329,965
Provision against other receivables 281,314 (10) – 281,304
Provision against balances with other banks 1,387 – – 1,387
Gratuity 14,762 (7,819) – 6,943
Unused tax losses 731,227 1,694,904 351,759 2,777,890
Intangibles 60,046 (24,212) – 35,834
investments over accounting base 412,465 1,527 – 413,992

asset over tax base (218,511) 102,189 – (116,322)
Accelerated accounting depreciation
on owned assets (712,584) (24,030) – (736,614)
Fair valuation of subsidiaries and associates (521,539) (11,175) – (532,714)
Surplus / (Deficit) on revaluation of securities 71,495 – (16,196) 55,299
Unrealised exchange gains (6,007) – 3,630 (2,377)
Unrecognised deferred tax assets – – – –

Note 2011 2010

(Rupees '000')
15. OTHER ASSETS
Income / mark-up accrued
Local currency 15.1 & 15.6 2,590,768 3,272,003
Advances, deposits, advance rent and other prepayments 15.2 407,727 426,344
Advance taxation - net 1,211,783 1,142,143
Non-banking assets acquired in satisfaction of claims 15.3 701,067 541,913
Unrealized gain on forward foreign exchange contracts - net 79,483 –
Receivable against sale of investments – 18,928
Stationery and stamps on hand 2,009 3,279
Branch adjustment account – 106,579
Advance for purchase of term finance certificates 383,856 285,000
Assets in respect of Bangladesh 15.4 425,409 425,409
Insurance claim 16,410 156,298
Others 66,395 67,624
5,909,441 6,475,081
Liabilities in respect of Bangladesh 15.4 (342,416) (342,416)
Rupee Borrowings from Government of Pakistan in
respect of Bangladesh (82,993) (82,993)
Provisions held against other assets 15.5 (1,021,625) (890,883)
Other assets - net of provisions 4,462,407 5,158,789
15.1 This includes Rs. 1.024 million (2010: Rs. 1.027 million) in respect of related parties.
15.2 Advances, deposits, advance rent and other prepayments

Advances 36,199 40,716
Deposits 28,901 36,813
Advance rent 252,635 249,071
Prepayments 89,992 99,744
407,727 426,344
15.3 Represents cost of land, plant and machinery acquired by the Bank against advances and held for resale. The
market value of the subject assets as of December 31, 2011 was Rs. 611.403 million (2010: Rs. 560 million).
Provision of Rs. 105.913 million has been made against difference between cost and fair value.
15.4 All the assets and liabilities as of November 30, 1971 clearly identifiable as being in or in respect of the areas
now under Bangladesh and referred to above were segregated as of that date and in such segregation, for
purposes of conversion of foreign currency amounts, generally speaking, the parity rates ruling prior to August
15, 1971 were used, and all income accrued or due in 1971 but not received in that year and interest accrued
but not due on borrowings in 1971 was eliminated. Subsequently, consequent to the assuming by Bangladesh
of certain foreign currency loan obligations as of July 1, 1974, including amounts previously identified by the Bank
(formerly PICIC) as its foreign currency liabilities in respect of Bangladesh, such amounts were eliminated from the
books of the Bank (formerly PICIC) by reducing an equivalent sum from its related foreign assets in that area.
Arising from advices received from the lenders and as a result of diversion of shipments and of the meeting of
certain contingent liabilities, there have been certain modifications to the foreign currency advances relating to

Bangladesh. Furthermore, the difference between the actual amount of rupees required to remit maturities of
foreign currency borrowings in respect of Bangladesh and the figures at which they appeared in the books and
the interest paid to foreign lenders has been treated as increasing the rupee assets in that area.
The Government of Pakistan, while initially agreeing to provide the rupee finance required for discharging current
maturities of foreign currency borrowings and interest related to Bangladesh, did not accept any responsibility
for PICIC’s assets in that area. However, following an agreement reached between PICIC and the Government
of Pakistan during 1976, the Government has agreed that it would continue to provide the funds for servicing
PICIC’s foreign currency liabilities relating to Bangladesh and has further agreed that an amount equivalent to
the rupee assets in Bangladesh financed from PICIC’s own funds not exceeding Rs. 82 million would be deemed
to have been allocated out of the rupee loans by the Government and that such allocated amount together with
the rupee finance being provided by the Government including any interest thereon would not be recovered from
PICIC until such time as PICIC recovers the related assets from Bangladesh and only to the extent of such recovery.
Accordingly, such allocated amounts, together with the rupee finance being provided by the Government for
discharging the current maturities of foreign currency borrowings (including the interest and charges thereon and
any exchange difference between the final rupee payment and the amount at which the liability, commitment or
contingent liability as appearing in the books relating to Bangladesh) have been treated as liabilities in respect
of Bangladesh. Further, in view of the aforesaid agreement no interest is being accrued on the allocated amount
of rupee loans or in respect of the rupee finance provided by the Government related to PICIC’s assets in Bangladesh
nor is it considered necessary to provide for any loss that may arise in respect of PICIC’s assets in Bangladesh.
2011 2010
(Rupees '000')
15.5 Particulars of provision against other assets
Opening balance 890,883 823,598

Reversals (15,610) (31)
Write offs (45,859) –
15.6 This includes a sum of Rs. 30.466 million (2010: Rs. 30.466 million) representing unrealised exchange gain, which
has not been recognised as income and deferred in the financial statements, in accordance with the policy of
the Bank, as stated in note 6.16.
2011 2010
(Rupees '000')
16. BILLS PAYABLE
In Pakistan 1,660,205 1,266,884
Outside Pakistan 78,217 68,609
1,738,422 1,335,493
17. BORROWINGS
In Pakistan 47,262,148 42,320,085
47,382,031 42,361,934

Note 2011 2010

(Rupees '000')
17.1 Particulars of borrowings with respect to currencies

In foreign currencies 119,883 41,849
47,382,031 42,361,934
17.2 Details of borrowings - secured / unsecured

Secured
Borrowings from SBP under
Export Refinance Scheme 17.3 8,122,798 10,956,241
Long Term Financing Facility 17.4 416,857 261,962
Long Term Finance for Export Oriented Projects 17.5 1,197,381 1,683,880
Repurchase agreement borrowings 17.6 & 17.6.1 37,350,826 22,869,493
Unsecured
Call borrowings 17.7 12,000 6,059,036
Overdrawn nostro accounts 119,883 41,849
Foreign borrowings payable in local currency 17.8 162,286 162,286
Trading liabilities – 327,187
47,382,031 42,361,934
17.3 Borrowings from SBP under Export Refinance Scheme are subject to mark-up at rate of 10% (2010: 8.50% to
9.00% ) per annum maturing within six months.
17.4 Borrowings from SBP under Long Term Financing Facility (LTFF) are subject to mark up ranging from 6.50% to
8.20% (2010: 6.50% to 8.20%) per annum maturing within ten years.
17.5 Borrowings from SBP under Long Term Finance for Export Oriented Projects are subject to mark up ranging from
4.90% to 5.00% (2010: 4.00% to 5.00%) per annum maturing within five years.
17.6 These borrowings are subject to mark-up at rates ranging from 11.63% to 11.90% (2010: 12.51% to 13.90% ) per
annum maturing within sixteen days. Government securities have been given as collateral against these borrowings.
17.6.1 This includes Rs. 100 million outstanding as at December 31, 2011, which was borrowed from a Company in 2004
against pledge of a PIB. As the lender had failed to return the pledged PIB upon the maturity of the contract period,
this amount is appearing as a pending transaction with a corresponding amount appearing as investment in PIBs.
No interest is accrued either as expense on this borrowing or as income from the PIB since the filing of the dispute
17.7 These borrowings are subject to mark-up at rate of 11.25% (2010: 12.15% to 13.40% ) per annum with remaining
maturity of three days.
17.8 The Government of Pakistan (GoP) has claimed an amount of Rs. 162.286 million in respect of liabilities against
German credit representing principal amount of loan and Rs. 45.444 million as interest thereon till June 30, 2006.
The principal amount has been accounted for and shown as payable to the GoP whereas interest has been
accounted for in Other Liabilities (note 20). However, the Bank is contending that any amount of principal and

interest is payable to the GoP only when recovered from the related sub-borrowers, who have availed the German
credit. This also includes unrealized exchange loss of Rs. 96.011 million (2010: Rs. 96.011 million) which has been
netted off against unrealized exchange gain (note 15) as it is payable when recovered from sub-borrowers, who
have availed the related German credit.
2011 2010
(Rupees '000')
18. DEPOSITS AND OTHER ACCOUNTS
Customers
Fixed deposits 32,769,500 39,939,138
Savings deposits 26,112,772 29,087,951
Current accounts - Non remunerative 25,169,484 24,120,456
Margin accounts 568,088 532,237
Financial institutions
Remunerative deposits 622,053 5,162,128
Non-remunerative deposits 246,371 327,463
85,488,268 99,169,373
18.1 Particulars of deposits

85,488,268 99,169,373
19. SUB-ORDINATED LOANS

Term Finance Certificates - Quoted, Unsecured 3,994,400 3,996,000
Mark-up Floating (no floor, no cap) rate of return at Base Rate +1.15% [The Base Rate is defined as the
average “Ask Side” rate of the six month Karachi Interbank Offered Rate (“KIBOR”)]
Subordination The TFCs are subordinated to all other indebtedness of the Bank including deposits
Issue Date March 5, 2008
Issue Amount Rs. 4,000 million
Rating A+ (A plus)
Tenor 8 years from the Issue Date
Redemption Ten equal semi-annual instalments of 0.02% of the Issue Amount for the first sixty months
followed by six equal semi-annual instalments of 16.63% of the Issue Amount from the
sixty-sixth month onwards
Maturity March 5, 2016
Call Option The Bank can also exercise a Call Option or a Partial Call Option after obtaining written approval
from the State Bank of Pakistan at any time after a period of sixty months from the Issue Date

Note 2011 2010

(Rupees '000')
20. OTHER LIABILITIES
Mark-up / return / interest payable in:
Local currency 817,085 1,304,830
Unearned income on inland bills – 10,135
Accrued expenses 608,615 987,405
Insurance premium payable 33,143 55,371
Advance from lessees 155,343 135,850
Unclaimed dividend 44,965 45,051
Borrowing from Government of Pakistan 2,095 2,095
Branch adjustment account 23,333 –
Unrealized exchange loss - net – 43,386
Security and other deposits 25,846 29,408
Payable to IBRD - Managed Fund 68,220 68,220
Payable against purchase of investments – 18,443
Payable to Workers Welfare Fund – 13,000
Payable to defined benefit plan 34.5 77,279 76,115
Security deposits against lease 528,493 754,435
Others 125,017 269,563
2,514,005 3,824,474
21. SHARE CAPITAL
21.1 Authorized
2011 2010 2011 2010

(Number of Shares) (Rupees '000')
12,000,000,000 5,000,000,000 Ordinary shares of Rs. 10 each 120,000,000 50,000,000
21.2 Issued, subscribed and paid up
Fully paid up ordinary shares of Rs. 10 each
3,278,902,659 3,278,902,659 Fully paid in cash 32,789,027 32,789,027

Issued for consideration other than cash
764,824,417 764,824,417 (under schemes of amalgamation) 7,648,244 7,648,244
6,259,124,088 – Issuance of shares on discount 62,591,241 –
10,302,851,164 4,043,727,076 103,028,512 40,437,271
21.2.1 The holding company Bugis Investments (Mauritius) Pte. Limited holds 9,132,728,598 (2010: 2,995,744,425)
ordinary shares.

2011 2010
(Number of Shares)
21.2.2 Reconciliation of number of ordinary shares of Rs. 10 each
At the beginning of the year 4,043,727,076 4,043,727,076

Right issue during the year at discount 6,259,124,088 –
At the end of the year 10,302,851,164 4,043,727,076
2011 2010
(Rupees '000')
22. SURPLUS / (DEFICIT) ON REVALUATION OF ASSETS - Net
Surplus / (Deficit) on revaluation of available-for-sale securities
Market Treasury Bills 119,439 (56,558)

Pakistan Investment Bonds (39,243) (184,648)
Term Finance Certificates 24,738 6,157
Mutual Funds 1,263 36,587
Investment in Shares of Listed Companies 25,885 143,882
132,082 (54,580)
Related deferred tax asset / (liability) (39,648) 55,299
92,434 719
23. CONTINGENCIES AND COMMITMENTS
23.1 Direct credit substitutes
Contingent liability in respect of guarantees given favouring:

Government – 63,116
Others – –
– 63,116
23.2 Transaction-related contingent liabilities / commitments
Guarantees given in favour of:

Government 10,782,678 8,138,146
Financial Institutions 92,000 500,856
Others 514,510 714,525
11,389,188 9,353,527
23.3 Trade-related contingent liabilities
Letters of credit 11,720,785 7,919,441

Acceptances 2,253,467 1,067,720
13,974,252 8,987,161
23.4 Other contingencies
Claims against the Bank not acknowledged as debts 266,133 390,783
23.5 Commitments in respect of forward lending
Commitments to extend credit 1,034,140 314,372

The Bank makes commitments to extend credit in the normal course of its business but none of these commitments
are irrevocable and do not attract any significant penalty or expense if the facility is ultimately withdrawn except
commitments mentioned above.
2011 2010
(Rupees '000')
23.6 Commitments in respect of forward exchange contracts
Purchase 56,859,837 66,004,625

Sale 58,787,111 67,312,030
115,646,948 133,316,655
23.7 Commitments for the acquisition of operating fixed assets 44,008 86,310
23.8 Commitments in respect of derivatives
Forward Purchase of Government Securities 487,600 –

Forward Sale of Government Securities 47,683 –
23.9 The tax returns of income of NIB Bank Limited have been filed up to and including tax year 2011 relevant to the
financial year ended December 31, 2010. The tax authorities have made certain disallowances including additions
on account of proration of expenses against dividends and capital gains, disallowances of interest and
administrative expenses and renovation expenses incurred on rented premises (allowed historically) pertaining
to tax years 2003 through 2008 for Ex-Pakistan Industrial Credit and Investment Corporation Limited (Ex-PICIC),
from tax years 2004 through 2008 for Ex-PICIC Commercial Bank Limited (Ex-PCBL), tax years 2003 and 2004
for Ex-National Development Leasing Corporation Limited (Ex-NDLC) and from tax years 2004 through 2008 for
NIB Bank Limited. These disallowances may result in additional tax aggregating to Rs. 1,370 million (2010: 1,370
million), which the management of the Bank in discussion with their tax consultants believes to be unjustified
and not in accordance with the true interpretation of the law.
Appeals filed against orders are pending at various appellate forums. Management is confident that the eventual
outcome of the cases will be in favour of the Bank.
2011 2010
(Rupees '000')
24. MARK-UP / RETURN / INTEREST EARNED
On loans and advances to customers 7,718,970 10,219,090
On investments in:
Available-for-sale securities 4,980,398 4,595,211
Held-to-maturity securities 463,751 463,487
On deposits with financial institutions 629 10,260
On securities purchased under resale agreements 989,740 1,094,491
On call money lendings 92,189 99,541
14,245,677 16,482,080
25. MARK-UP / RETURN / INTEREST EXPENSED
Deposits and other accounts 6,948,513 7,225,240
Securities sold under repurchase agreements 3,023,491 3,342,862
Other short term borrowings 1,506,903 2,312,127
Long term borrowings 687,874 652,931
12,166,781 13,533,160

Note 2011 2010

(Rupees '000')
26. GAIN ON SALE OF SECURITIES
Pakistan Investment Bonds 29,846 (8,185)
Ordinary Shares of Listed and Unlisted Companies 8,786 292,514
Units of Mutual Funds 45,118 26,794
Others 20,456 8,068
274,512 328,920
27. OTHER INCOME
Gain / (loss) on disposal of property and equipment 2,522 (732)
Service charges 7,007 7,977
Rent 1,631 3,262
Gain on trading liabilities – 3,417
Income from non-banking assets and profit from
sale of / or dealing with such assets – 10,551
Others 9,997 –
21,157 24,475
28. ADMINISTRATIVE EXPENSES

Salaries, allowances, etc. 2,083,603 3,715,562
Charge for defined benefit plan 34.4 23,194 24,727
Contribution to defined contribution plan 83,338 121,204
Non-executive directors' fees, allowances and other expenses 6,792 5,709
Brokerage and commission 48,386 44,530
Rent, taxes, insurance, electricity, etc. 880,603 967,484
Legal and professional charges 65,152 196,743
Communication 158,369 207,399
Repairs and maintenance 278,253 284,665
Stationery and printing 68,324 81,377
Advertisement and publicity 69,710 20,816
Fees and subscriptions 80,719 74,706
Auditors’ remuneration 28.1 8,578 8,201
Depreciation 12.2 273,601 386,964
Amortization 13 368,608 371,225
Travelling, conveyance and vehicles running 31,427 30,153
Security services 120,188 137,628
Others 66,129 116,375
4,714,974 6,955,148
28.1 Auditors' remuneration
Audit fee including fee for branch audit 4,300 4,300

Audit fee of consolidated financial statements 750 750
Review fee 1,100 1,100
Special certifications and sundry advisory services 1,752 1,375
Out-of-pocket expenses 676 676
8,578 8,201

28.2 No donation was paid during the year in which any of the Directors or their spouses had any interest.
Note 2011 2010

29. OTHER CHARGES (Rupees '000')
Penalties imposed by the State Bank of Pakistan 56,122 135,126

Others (13,757) (13,208)
42,365 121,918
30. TAXATION
For the year

Current 163,978 181,974
Prior years 30,658 327,748
Deferred (1,630,964) (3,019,165)
(1,436,328) (2,509,443)
30.1 Relationship between tax expense and accounting profit
Accounting Profit / (loss) for the year (3,480,418) (12,621,557)
Tax @ 35% of above (1,218,146) (4,417,545)

SBP penalty not tax deductible 19,643 47,294
Adjustment in respect of tax at reduced rates 70,189 (13,669)
Consumer & SME provision in excess of 5% booked in
June 2011 instead of December 2010 (1,085,172) 1,085,172
Unrecorded deferred tax asset due to uncertainity over 817,000 –
availability of future tax profits
General provision reversal not recognized for tax purposes (234,478) 279,583
Minimum tax based on turnover independent of loss 163,978 181,974
Tax charge for prior year 30,658 327,748
Tax credit as reported (1,436,328) (2,509,443)
31. BASIC / DILUTED EARNINGS / (LOSS) PER SHARE
Loss after taxation (Rs. '000') (2,044,090) (10,112,114)
Weighted average number of ordinary shares outstanding

during the year (in '000') 5,998,632 4,043,727
Loss per share - basic / diluted (Rupees) (0.34) (2.50)
32. CASH AND CASH EQUIVALENTS

9,455,874 11,787,928

2011 2010
33. STAFF STRENGTH (Numbers)
Permanent 2,300 2,853
Temporary / on contractual basis 25 29
Bank's own staff strength at the end of the year 2,325 2,882
Outsourced 346 713
Total staff strength 2,671 3,595
34. DEFINED BENEFIT PLAN

34.1 The benefits under the gratuity scheme are payable in lump sum on retirement at the age of 60 years or earlier
cessation of services. The benefit is equal to one month's last drawn basic salary for each year of confirmed service,
subject to a minimum of five years of service.
34.2 Principal actuarial assumptions

The actuarial valuation is carried out periodically. The actuarial valuation was carried out for the year ended December
31, 2011 using the "Projected Unit Credit Method". The main assumptions used for actuarial valuation are as follows:
Gratuity
2011 2010
- Valuation discount rate 13.0% 14.5%
- Salary increase rate 12.0% 13.5%
- Mortality rate Based on LIC 1975-79 Ultimate Mortality table
- Withdrawal rate Heavy (double of moderate) Age - Wise withdrawal rates
Note 2011 2010 2009 2008 2007

(Rupees '000')
34.3 Reconciliation of (receivable from) /
payable to defined benefit plan
Present value of defined benefit obligations 34.6 71,098 79,459 81,502 58,963 33,919
Unrecognized prior service cost – – – 1,630 3,261
Net actuarial gains / (loss) not recognized 6,181 (3,344) (7,771) (3,536) 7,326
77,279 76,115 73,731 57,057 44,506
Assumed on amalgamation – – – – (76,634)
Net liability / (receivable) 77,279 76,115 73,731 57,057 (32,128)
34.4 (Income) / charge for defined benefit plan
Current service cost 11,626 14,660 13,962 10,922 10,808
Software project expense capitalized – – (829) – –
Interest cost 11,568 10,067 6,398 3,834 2,751
Actuarial (gain) recognized – – – (303) (281)
Amortization of prior service cost – – (1,630) (1,631) (1,631)
23,194 24,727 17,901 12,822 11,647
34.5 Movement in balance (receivable) / payable
Opening balance 76,115 73,731 57,057 (32,128) 32,859
Adjustment 1,386 – – – –
Expense recognized 23,194 24,727 17,901 12,822 11,647
Software project expense capitalized – – 829 – –
Benefits paid to outgoing members (23,416) (22,343) (2,056) (271) –
77,279 76,115 73,731 (19,577) 44,506
Assumed on amalgamation – – – 76,634 (76,634)
Closing balance 77,279 76,115 73,731 57,057 (32,128)

2011 2010 2009 2008 2007

(Rupees '000')
34.6 Summary of valuation results for the
current and previous periods
Present value of defined benefit obligations 71,098 79,459 81,502 58,963 33,919
Fair value of plan assets – – – – –
Deficit 71,098 79,459 81,502 58,963 33,919
Experience (gain) / loss on obligation (8,139) (4,427) 4,235 10,559 (1,749)
2011 2010
(Rupees '000')
34.7 Reconciliation of present value of defined benefit obligations

Current service cost 11,626 14,660
Interest cost 11,568 10,067
Benefits paid (23,416) (22,343)
Actuarial (gain) / loss on obligations (8,139) (4,427)
Closing balance 71,098 79,459
34.8 Expected contribution for the next one year

The Bank provides for gratuity as per the actuary's expected charge for the next one year. Based on actuarial
advice, management estimates that the charge in respect of the defined benefit plan for the year ending December
31, 2012 would be Rs. 18.390 million.
35. DEFINED CONTRIBUTION PLAN

The Bank has established a provident fund scheme administered by the Board of Trustees for all permanent
employees. Equal monthly contributions are made to the fund by both the Bank and the employees at the rate
of 10% of basic salary.
36. COMPENSATION OF DIRECTORS AND EXECUTIVES
President / Chief Executive Directors Executives
2011 2010 2011 2010 2011 2010
(Rupees '000')
Fees – – 6,792 5,709 – –
Managerial remuneration 16,714 17,419 – – 456,305 787,164
Charge for defined benefit plan 2,924 2,461 – – 9,711 14,142
Contribution to defined
contribution plan 1,667 1,742 – – 42,595 56,478
Rent and house maintenance 5,850 6,097 – – 159,706 218,355
Utilities 1,671 1,742 – – 45,630 62,387
Others 29,804 1,742 – – 270,758 62,387
58,630 31,203 6,792 5,709 984,705 1,200,913
Number of persons *2 1 5 5 517 703

*Includes interim President and Chief Executive Officer for 15 days in 2011.
The Presidents / Chief Executives are provided with free use of Bank maintained cars, travel and medical insurance,
security arrangements and reimbursement of household utilities, as per terms of their employment.
Directors fees are paid to non executive directors only.

37. FAIR VALUE OF FINANCIAL INSTRUMENTS
37.1 On-balance sheet financial instruments
2011 2010
Book value Fair value Book value Fair value
(Rupees '000')
Assets
Cash and balances with treasury banks 7,969,044 7,969,044 8,836,449 8,836,449
Balances with other banks 1,486,830 1,486,830 2,951,479 2,951,479
Lendings to financial institutions 14,666,918 14,669,815 6,429,166 6,428,069
Investments 49,598,830 49,046,314 51,789,035 50,824,544
Advances 60,844,380 60,844,380 74,566,015 74,566,015
Other assets 2,803,395 2,803,395 3,449,633 3,449,633
137,369,397 136,819,778 148,021,777 147,056,189
Liabilities
Bills payable 1,738,422 1,738,422 1,335,493 1,335,493

Borrowings 47,382,031 47,382,076 42,361,934 42,359,713
Deposits and other accounts 85,488,268 85,488,268 99,169,373 99,169,373
Sub-ordinated loans 3,994,400 3,914,796 3,996,000 3,889,706
Other liabilities 2,365,655 2,365,655 3,582,055 3,582,055
140,968,776 140,889,217 150,444,855 150,336,340
37.2 Off-balance sheet financial instruments

Forward purchase of foreign exchange 56,859,837 57,548,407 66,004,625 65,049,598
Forward sale of foreign exchange 58,787,111 59,591,144 67,312,030 66,429,843
Fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable
willing parties in an arm’s length transaction.
Fair values of held-to-maturity securities, sub-ordinated loans and investment in quoted associates have been
stated at market values.
Fair value of unquoted equity securities have been stated at the lower of cost and Net Assets Value as per the
latest available audited financial statements.
Except for investment in unquoted subsidiaries, fixed term advances of over one year, staff loans and fixed term
deposits of over one year, the fair value of other on balance sheet financial assets and liabilities are not significantly
different from their book value as these assets and liabilities are either short term in nature or are frequently
re-priced.
The fair value of unquoted subsidiaries, fixed term advances, staff loans, fixed term deposits, other assets and
other liabilities cannot be calculated with sufficient reliability due to non-availability of relevant active markets for
similar assets and liabilities.

38. SEGMENT DETAILS WITH RESPECT TO BUSINESS ACTIVITIES

The Bank is organised into reportable segments as disclosed in note 6.20.1. These segments are managed by
respective segment heads and the results of these segments are regularly reviewed by the Bank's President / Chief
Executive. Segment performance is reviewed on the basis of various factors including profit before taxation.
Transactions between reportable segments are carried out on an arms length basis.
The segment analysis with respect to business activity is as follows:
For the Year ended December 31, 2011
Corporate and Small & Medium
Investment Enterprises and Retail Treasury Head Office / *Adjustments
Banking Commercial Other
(Rupees '000')
Net Interest Income (605,465) (621,777) 3,515,414 (387,463) 178,187 –

Non Funded Income 374,158 135,492 350,450 839,833 452,147 –
Net Interest and non mark-up Income (231,307) (486,285) 3,865,864 452,370 630,334
Total expenses including provisions

(excluding Impairment) 799,676 886,360 5,405,275 173,981 50,835 –
Impairment against Investment 52,703 – – 118,721 223,843 –
Total expenses including provisions 852,379 886,360 5,405,275 292,702 274,678 –
Segment Net income / (loss) before tax (1,083,686) (1,372,645) (1,539,411) 159,668 355,656 –
Segment Return on net assets (ROA) (%) (1.69%) (3.84%) (1.22%) 0.19% – N/A
Segment Cost of funds (%) 11.97% 6.76% 6.62% 13.44% – N/A
Net Interest Income (198,579) (215,919) 3,771,921 (248,521) (159,982) –

Non Funded Income 320,382 183,957 306,493 673,585 230,935 –
Net Interest and non mark-up Income 121,803 (31,962) 4,078,414 425,064 70,953 –

(excluding Impairment) 2,738,512 5,080,278 7,648,615 166,708 1,527,195 –
Impairment against Investment – – – 115,134 9,387 –
Total expenses including provisions 2,738,512 5,080,278 7,648,615 281,842 1,536,582 –
Segment Net income / (loss) before tax (2,616,709) (5,112,240) (3,570,201) 143,222 (1,465,629) –
Segment Assets (Gross) 56,637,592 30,116,978 83,809,168 53,507,148 10,369,353 (56,018,911)

Segment Non Performing Loans 18,006,713 12,234,822 3,725,523 – 227,524 –
Segment Provision (including
general provisions) 14,965,673 6,876,818 1,589,256 – 195,951 –
Segment Assets (Net) 41,671,919 23,240,160 82,219,912 53,507,148 10,173,402 (56,018,911)
Segment Liabilities 40,802,879 22,740,530 80,501,374 53,091,254 – (56,018,911)

Segment Provision (including
general provisions) 14,712,848 6,415,309 2,524,598 – 125,784 –
Segment Liabilities 46,112,224 23,016,713 79,530,605 41,401,559 3,791,185 (43,165,012)
* The respective segment assets and liabilities incorporate intersegment lending and borrowing, with appropriate
transfer pricing. The adjustments column eliminates intersegment lending and borrowing.

64
39. RELATED PARTY TRANSACTIONS
The Bank has related party transactions with its holding company (refer note 1), subsidiaries (refer note 10.12), associated undertakings (refer
note 10.11), employee benefit plans (refer note 34) and its key management personnel.
Transactions with related parties are executed on the same terms as those prevailing at the time for comparable transactions with unrelated parties.
The detail of transactions with related parties is given below:
Holding company Subsidiaries Associates Key Management Personnel Other related parties
2011 2010 2011 2010 2011 2010 2011 2010 2011 2010
(Rupees '000')
39.1 Balances outstanding as at the year end
Advances
At the beginning of the year – – – – – – 102,142 172,906 29,797 –
Addition during the year – – – – – – 58,669 46,068 85,381 53,170
Repaid during the year – – – – – – (41,557) (116,832) (90,181) (23,373)
At the end of the year – – – – – – 119,254 102,142 24,997 29,797
Deposits
At the beginning of the year 58,350 66,305 57,633 1,080,927 543,226 1,135,995 23,564 7,295 300,457 257,861
Deposits during the year 12 – 4,188,863 503,372 29,676,785 15,952,374 261,479 287,847 7,539,595 5,052,179
Exchange difference 1,042 381 – – – – – – 4,099 –
Withdrawal during the year (16,751) (8,336) (4,230,458) (1,526,666) (29,921,260) (16,344,171) (243,030) (271,578) (7,749,951) (5,009,583)
NAFA Funds ceased to be associates – – – – – (200,972) – – – –
At the end of the year 42,653 58,350 16,038 57,633 298,751 543,226 42,013 23,564 94,200 300,457
Investment in shares / mutual funds - cost

At the beginning of the year – – 4,584,741 4,584,741 1,573,832 1,899,518 – – 151,815 184,146
Investments made during the year – – – – – – – – 136,559 7,286
Investments sold / liquidated during the year – – – – – (82,500) – – (138,669) (39,617)
NAFA Funds ceased to be associates – – – – – (243,186) – –
At the end of the year – – 4,584,741 4,584,741 1,573,832 1,573,832 – – 149,705 151,815
Investment in Term Finance Certificates - cost

At the end of the year – – – – – – – – 1,102,224 978,687
Receivables
At the end of the year 626 117 – – – – – – 928 3,795
Insurance claim receivable

At the end of the year – – – – – 50,000 – – – –
Payables
At the end of the year – 738 1,529 – – – – – – 184
Brokerage payable
At the end of the year – – – – – – – – 49 104
Annual Report 2011

Annual Report 2011
Holding company Subsidiaries Associates Key Management Personnel Other related parties
2011 2010 2011 2010 2011 2010 2011 2010 2011 2010
(Rupees '000')
Payable to Directors
At the end of the year – – – – – – – – 174
Insurance premium payable

At the end of the year – – – – 4,691 4,691 – – – –
Sub-ordinated loans
At the end of the year – – – – – – – – – 49,950
Advance against proposed rights issue – 6,352,360 – – – – – – – –
39.2 Income / Expense for the year
Mark-up / return / interest earned on advances – – – – – – 4,981 6,101 2,296 2,240

Mark-up / return / interest expensed on deposits – – 13,344 65,634 126,254 102,446 643 754 69,118 48,049
Mark-up / return / interest earned on

Term Finance Certificates – – – – – – – – 171,638 91,251
Dividend income from Shares / Mutual Funds – – 270,000 – 168,420 26,713 – – 3,657 3,675
Brokerage expense – – – – – – – – 1,384 3,131

Directors remuneration – – – – – – – – 6,792 5,709
Directors travelling expense 2,834 3,418 – – – – – – 127 184
Remuneration to key management personnel – – – – – – 145,236 139,524 – –
Contribution to Provident Fund – – – – – – – – 83,894 115,909
Mark-up expense on sub-ordinated loans – – – – – – – – 3,703 6,862
Rent expense – – 1,529 – – – – – – –
65
40. CAPITAL-ASSESSMENT AND ADEQUACY BASEL II SPECIFIC
40.1 Scope of Applications

Capital Adequacy Ratio (CAR) has been calculated in accordance with the guidelines given by the SBP through
BSD Circular No. 8 dated June 27, 2006. The Bank has adopted the Standardized Approach for Credit and Market
Risk and Basic Indicator Approach for Operational Risk. The current requirement for CAR is 10% as per BSD
Circular No. 07 dated April 15, 2009.
40.2 Capital Structure

The Bank's regulatory capital base comprises of:
(a) Tier 1 capital which includes share capital, reserves and accuulated losses/unappropriated profit
(b) Tier 2 capital which consists of subordinated debt (subject to 50% of eligibe Tier 1 capital), revaluation reserves
(subject to 45% of balance in revaluation reserve) and general provision for loan losses (subject to 1.25% of Risk
Weighted Asset)
The issued, subscribed and paid-up capital of the Bank was Rs. 103,028.512 million as at December 31, 2011,
comprising of 10,302,851,164 shares of Rs. 10 each.
The subordinated debt amounting to Rs. 3,994.200 million represents unsecured TFCs of the Bank. The amount
raised through the issue contributed towards the Bank's Tier II capital for Minimum Capital Requirement as per
the guidelines of SBP.
Note 2011 2010

(Rupees '000')
Details of the Bank's regulatory capital are as under:
Tier I Capital
Fully paid-up capital 103,028,512 40,437,271
Share premium (45,769,623) 8,246,618
Statutory and general reserves 218,276 218,276
13,584,070 13,662,046
Less:
Goodwill and intangibles 40.2.1 2,054,426 2,419,147
Deficit on account of revaluation of investments
held as available-for-sale – –
Other deductions (representing 50% of investment in
subsidiary and other significant associates) 40.2.1 889,613 905,416
Total Tier I Capital 10,640,031 10,337,483

Note 2011 2010

(Rupees '000')
Tier II Capital
Sub-ordinated loans (up to 50% of total Tier I Capital) 3,195,520 3,946,000
General Provision for loan losses (subject to 1.25% of
Total Risk Weighted Assets) 282,139 952,076
Revaluaton Reserave (up to 45%) 41,595 323
Less:
Other deductions (represents 50% of investment in
subsidiary and other significant associates) 40.2.1 889,613 905,416
Total Tier II Capital 2,629,641 3,992,983

Total Regulatory Capital Base (a) 13,269,672 14,330,466
40.2.1 The SBP has allowed the Bank to break its investment in PICIC Asset Management Company Limited (PICIC AMC)
into tangible and other components for the purpose of calculating CAR on unconsolidated basis. The tangible
assets of PICIC AMC may be treated as a single asset in the banking book and assigned 100% risk weight. The
difference between cost of PICIC AMC and tangible portion would be required to be deducted from Tier I capital.
This relaxation is granted from December 2010 up to and including December 2011.
40.3 Capital Adequacy
The purpose of capital management at the Bank is to ensure efficient utilization of capital in relation to business
requirements, growth, risk appetite, shareholders' returns and expectations.
The Bank manages its capital structure and makes adjustments to it in the light of changes in economic conditions,
regulatory requirements and the risk profile of its activities. In order to maintain or adjust the capital structure, the
Bank may issue capital / Tier II securities.
The Bank's capital adequacy ratio as at December 31, 2011 was 14.11% compared to the minimum regulatory
requirement of 10%. The Bank ensures adherence to SBP's requirements by monitoring its capital adequacy on
a regular basis.
Banking operations are categorised as either Trading book or Banking book, and Risk-Weighted Assets are
determined according to SBP requirements that seek to reflect the varying levels of risk attached to bank's On
and Off-balance sheet exposures.
Collateral if any, is used as an outflow adjustment. Risk weights notified, are applied to Net Adjusted Exposure.
Cash and near Cash collateral includes Government of Pakistan Securities , Shares listed on the stock exchanges,
Cash and Cash equivalents (deposits / margins, lien on deposits).
The bank has complied with all regulatory capital requirements as at the reporting date.

The capital requirements for the Bank as per the major risk categories is indicated below:
Capital Requirements Risk Weighted Assets

2011 2010 2011 2010
(Rupees '000')
Credit Risk
Corporate 2,951,635 3,123,936 29,516,351 31,239,360
Sovereign 3,252 15,981 32,522 159,811
Retail 904,837 1,334,830 9,048,365 13,348,303
Banks 463,924 297,586 4,639,242 2,975,859
Equity investments 155,477 124,227 1,554,771 1,242,268
Public sector entities 23,069 63,230 230,685 632,296
Past due loans 1,140,635 1,120,452 11,406,353 11,204,520
Claims against residential mortgage 58,914 62,833 589,140 628,330
Investments in premises, plant and
equipment and all other fixed assets 269,380 271,897 2,693,795 2,718,974
Other assets 1,561,220 1,361,644 15,612,203 13,616,442
Off balance sheet market related exposures 82,312 56,528 823,124 565,284
7,614,655 7,833,144 76,146,551 78,331,447
Market Risk
Interest Rate Risk 666,044 372,617 6,660,436 3,726,166
Equity Position Risk 29,151 239,567 291,507 2,395,668
Foreign Exchange Risk 4,908 118,058 49,081 1,180,579
700,103 730,242 7,001,024 7,302,413
Operational Risk 1,090,490 1,168,224 10,904,895 11,682,242
TOTAL (b) 9,405,248 9,731,610 94,052,470 97,316,102
2011 2010
(Rupees '000')
Capital Adequacy Ratio
Total eligible regulatory capital held 13,269,672 14,330,466
Total Risk Weighted Assets 94,052,470 97,316,102
Capital Adequacy Ratio (a) / (b) 14.11% 14.73%

40.4 Types of Exposures and ECAIs used

The Bank uses external ratings from local and foreign rating agencies. The Bank has obtained ratings from the
websites of External Credit Assessment Institutions (ECAIs) and followed the SBP rating grade for mapping.
Exposures JCR-VIS PACRA Fitch Moodys Standard &

Poor
Corporate ✓ ✓ – – –
Sovereign – – – – –
Retail – – – – –
Banks ✓ ✓ ✓ ✓ ✓
40.5 Credit exposure subject to Standardized Approach

2011
(Rupees '000')
Exposure Rating Amount Deduction Net
Category Outstanding CRM Amount
Corporate 1 3,928,061 – 3,928,061

Corporate 2 855,131 84,168 770,963
Corporate 3,4 57,524 5,846 51,678
Corporate 5,6 564,509 – 564,509
Corporate Unrated 29,443,393 1,996,578 27,446,815
Retail 15,084,307 3,019,820 12,064,487
Banks
- Over 3 Months 1 1,126,052 – 1,126,052
- Over 3 Months 2,3 5,731,756 746,128 4,985,628
- Over 3 Months 4,5 110,805 – 110,805
- Over 3 Months Unrated 764,726 – 764,726
- Maturity Upto and under 3 Months in FCY 1,2,3 2,584,486 – 2,584,486

- Maturity Upto and under 3 Months in FCY 4,5 – – –
- Maturity Upto and under 3 Months in FCY 6 – – –
- Maturity Upto and under 3 Months in FCY Unrated 623,303 – 623,303
- Maturity Upto and under 3 Months in PKR 1 14,325,095 10,392,640 3,932,455
Public Sector Entities 1 – – –
Unrated 464,537 3,921 460,616
Sovereign 21,833,880 6,577,909 15,255,971
Others 34,169,124 – 34,169,124
Total 131,666,689 22,827,010 108,839,679

41. RISK MANAGEMENT

While the overall responsibility of risk management rests with the Board of Directors, the Bank’s senior management
has implemented a risk management framework with well defined policies and procedures, duly approved by the
Board, for mitigating, monitoring and controlling risks.
The Board of Directors of the Bank has approved the risk management strategy of the Bank and entrusted the
monitoring to the Board’s Risk Management Committee (BRMC).
The Integrated Risk Management Committee (IRMC) is responsible for reviewing and highlighting key risk issues
that require senior management’s attention. IRMC comprises of members from business units and the risk functions.
An enterprise level assessment of risk composition is made at this platform and where necessary, recommendations
are made to improve upon processes and procedures to further strengthen the risk framework.
Risk management heads for the business segments report to the Chief Risk Officer (CRO). The risk management
heads are responsible for ensuring the implementation of the Bank’s risk framework in their respective domains
in line with the business model of the Bank and also in compliance with SBP guidelines.
The Bank also conducts stress testing analysis across portfolios, by anticipating changes and applying shocks
of different intensity values, thereby evaluating their effects on the value of the portfolios.
41.1 Credit Risk

Credit risk is the risk of failure by a client or counterparty to meet its contractual obligations. It is inherent in loans,
commitments to lend and contingent liabilities, such as letters of credit, repurchase agreements (repos and reverse
repos) and securities borrowing and lending transactions.
The objective of credit risk management by the Bank is to ensure that the risk of default by a client or counterparty
is reduced to a minimum, keeping in view the risk management policies of the Bank.
The Bank has established an appropriate credit risk environment which is operating under a sound credit-granting
process, maintaining an appropriate credit administration, measurement and monitoring process and ensuring
adequate controls.
There is a proper credit delegation matrix for review and approving credit applications. Businesses have no credit
approving authority. All credit approvals are accorded by the Credit Officers/ Senior Credit Officers in the Risk
Management Group.
The concept of “three initial system” is very much in existence in NIB. Based upon regional considerations and
availability of Credit Talent, any initiating unit has to have formal recommendation by the Relationship Manager,
his/ her Team Leader and Regional Head/ Corporate Banking Head/ Group Head. The essence here is that the
credit proposal must not be left to the sole judgement of one person – rather, the application of minds must be
diverse and independent of each other.
Following are the basic guiding principles of credit risk management that are embedded in the Bank and across
business segments:
- Clearly defined risk management policies and procedures covering risk identification, acceptance, measurement,
monitoring, reporting and control.
- A well constituted organizational structure clearly defining roles and responsibilities of individuals involved in
taking as well as managing risk.

- An effective management information system that ensures flow of information from the operational level to
top management and a system to address any exceptions observed.
- An effective mechanism to ensure an ongoing review of systems, policies and procedures for risk management
and procedures to adopt changes.
- Review of portfolios by BRMC on a quarterly basis and by IRMC on a monthly basis to evaluate the health
of the portfolio.
41.1.1 Segmental Information

41.1.1.1 Segments by class of business
2011
Contingencies and
Advances (Gross) Deposits Commitments
(Rupees '000') Percent (Rupees '000') Percent (Rupees '000') Percent
Agriculture, Forestry, Hunting and Fishing 1,412,649 1.67 522,737 0.61 – –

Automobile and Transportation Equipment 1,071,826 1.27 303,484 0.36 509,041 0.36
Cement, Glass and Ceramics 3,681,480 4.36 314,589 0.37 623,896 0.44
Chemicals and Pharmaceuticals 1,549,328 1.83 1,132,720 1.33 1,422,465 1.00
Construction 747,419 0.88 1,356,196 1.59 1,133,506 0.79
Electronics and Electrical Appliances 1,423,754 1.69 378,021 0.44 183,186 0.13
Engineering 803,083 0.95 358,519 0.42 907,756 0.64
Exports / Imports 2,601,689 3.08 1,242,681 1.45 7,632,261 5.34
Financial 339,481 0.40 1,235,198 1.44 116,443,027 81.48
Food and Beverages 9,281,750 10.99 905,194 1.06 1,095,774 0.77
Footwear and Leather Garments 969,835 1.15 161,793 0.19 16,037 0.01
Individuals 5,225,611 6.19 50,230,839 58.74 350,774 0.25
Insurance – – 181,272 0.21 200 0.00
Mining and Quarrying 201,117 0.24 512,451 0.60 97,239 0.07
Non Profit Organizations / Trusts 150,109 0.18 2,970,314 3.47 20,495 0.01
Oil and Gas 356,729 0.42 4,897,690 5.73 3,038 0.00
Paper and Printing 1,667,620 1.97 398,860 0.47 591,285 0.41
Power, Gas, Water and Sanitary 3,317,982 3.93 2,923,427 3.42 677,548 0.47
Services 3,170,753 3.75 2,885,736 3.38 294,068 0.21
Sugar 1,751,338 2.07 15,968 0.02 22,239 0.02
Textile 29,112,151 34.47 1,432,811 1.68 6,420,856 4.49
Transport, Storage and Communication 2,299,449 2.72 2,894,337 3.39 1,436,027 1.00
Wholesale and Retail Trade 6,928,934 8.20 3,563,664 4.17 1,300,123 0.91
Others 6,407,991 7.59 4,670,131 5.46 1,709,111 1.20
84,472,078 100 85,488,268 100 142,889,952 100

2010
Contingencies and
Agriculture, Forestry, Hunting and Fishing 2,127,690 2.16 431,118 0.43 _ _

Construction 905,621 0.92 1,173,911 1.18 555,261 0.36
Engineering 593,436 0.60 457,706 0.46 1,215,419 0.80
Exports / Imports 2,639,680 2.68 667,950 0.67 378,194 0.25
Financial 520,367 0.53 6,397,046 6.45 130,811,534 85.79
Footwear and Leather Garments 1,055,048 1.07 115,638 0.12 34,616 0.02
Individuals 7,863,276 8.00 47,530,178 47.95 344,781 0.23
Insurance – – 259,553 0.26 _ _
Mining and Quarrying 244,304 0.25 1,928,351 1.94 74,453 0.05
Oil and Gas 2,396,384 2.44 3,048,037 3.07 2,416,949 1.58
Power, Gas, Water and Sanitary 2,606,707 2.65 4,255,100 4.29 828,234 0.54
Services 4,549,830 4.63 2,988,233 3.01 521,661 0.34
Sugar 1,828,795 1.86 35,553 0.04 2,049 0.00
Textile 30,938,690 31.46 783,430 0.79 7,553,526 4.95
Transport, Storage and Communication 2,480,832 2.52 8,921,680 9.00 992,311 0.65
Others 7,667,325 7.80 8,217,865 8.29 1,468,218 0.96
98,344,554 100.00 99,169,373 100.00 152,511,924 100
41.1.1.2 Segment by sector

2011
Contingencies and
Public / Government 6,578,083 7.79 9,414,316 11.01 2,911 0.00

Private 77,893,995 92.21 76,073,952 88.99 142,887,041 100.00
84,472,078 100 85,488,268 100 142,889,952 100

2010
Contingencies and
Public / Government 10,904,387 11.09 12,069,277 12.17 3,076,217 2.02

Private 87,440,167 88.91 87,100,096 87.83 149,435,707 97.98
98,344,554 100.00 99,169,373 100.00 152,511,924 100
2011 2010
Classified Specific Classified Specific
Advances Provisions Advances Provisions
Held Held
(Rupees '000')
41.1.1.3 Details of non-performing advances and specific
provisions by class of business segment
Agriculture, Forestry, Hunting and Fishing 22,993 15,113 54,049 15,513

Automobile and Transportation Equipment 588,843 515,344 466,555 436,401
Cement, Glass and Ceramics 1,277,320 1,081,681 1,339,892 938,969
Chemicals and Pharmaceuticals 519,527 332,600 314,336 198,010
Construction 482,431 103,144 426,022 133,472
Electronics and Electrical Appliances 703,056 432,233 515,794 307,383
Engineering 424,258 233,381 270,381 121,485
Financial 129,982 96,802 182,079 73,066
Food and Beverages 1,217,777 719,393 1,060,392 756,651
Footwear and Leather Garments 418,458 305,942 340,708 268,207
Individuals 566,960 313,897 1,778,291 826,009
Mining and Quarrying 33,602 2,117 48,493 34,819
Oil and Gas 327,474 299,634 359,101 328,832
Paper and Printing 561,452 387,008 591,339 358,062
Power, Gas, Water and Sanitary 664,656 459,239 646,083 371,953
Services 1,907,961 801,684 2,131,558 1,096,966
Sugar 772,799 626,387 1,272,914 816,713
Textile 14,675,438 11,761,058 11,212,276 8,620,131
Transport, Storage and Communication 888,606 665,971 1,070,183 807,245
Wholesale and Retail Trade 3,887,070 1,824,453 6,041,388 3,962,528
Others 4,123,919 2,368,478 4,589,634 2,354,048
34,194,582 23,345,559 34,711,468 22,826,463

2011 2010
Held Held
(Rupees '000')
41.1.1.4 Details of non-performing advances and
specific provisions by sector
Public / Government – – – –
Private 34,194,582 23,345,559 34,711,468 22,826,463
34,194,582 23,345,559 34,711,468 22,826,463
2011
Contingencies
Profit / (Loss) Total assets Net assets and
before taxation employed employed commitments
(Rupees '000')
41.1.1.5 Geographical Segment Analysis
Pakistan (3,480,418) 154,793,630 13,676,504 142,889,952
2010
Pakistan (12,621,557) 164,350,039 13,662,765 152,511,924
41.2 Market Risk

Market risk is primarily composed of price risk and arises out of treasury trading and investment activities. It
is the risk that the value of on and off balance sheet positions of the Bank will be adversely affected by movements
in market rates or prices.
The Bank recognizes that it may be exposed to market risk in a variety of ways. Market risk exposure may be
explicit in the portfolio of equities and foreign currencies that are actively traded. Conversely, it may be implicit,
such as interest rate risk due to mismatch of loans and deposits. Market risk may also arise from activities
categorized as off balance sheet items.
41.2.1 Foreign Exchange Risk

Foreign exchange risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign
exchange rates.
The core objective of foreign exchange risk management is to ensure that the exposure of the Bank remains
within desired levels of risk appetite.
Furthermore, the Bank monitors Value at Risk (VaR) and Price Value Basis Point (PVBP) for the foreign exchange
portfolio in order to estimate any potential losses due to changes in price. The Bank also monitors maturity
mismatch gaps to identify any potential risks.
The Bank has implemented global / regulatory best practices in order to manage the inherent risk of product
and market, such as credit limits, monitoring of foreign exchange exposure limits, review of mark to market
portfolio etc.

2011
Net foreign
Off Balance currency
Assets Liabilities sheet items exposure
(Rupees '000')
Pakistan Rupee 147,245,285 135,908,865 1,927,274 13,263,694

United States Dollar 6,944,197 3,820,292 (2,750,296) 373,609
Great Britain Pound 153,964 833,552 679,752 164
Euro 417,779 543,650 143,270 17,399
Japanese Yen 12,560 22 – 12,538
Swiss Franc 1,865 787 – 1,078
Others 17,980 9,958 – 8,022
154,793,630 141,117,126 – 13,676,504
2010
Net foreign
Off Balance currency
Assets Liabilities sheet items exposure
(Rupees '000')
Pakistan Rupee 155,385,408 144,575,893 1,307,404 12,116,919

United States Dollar 8,032,243 4,234,598 (2,322,995) 1,474,650
Great Britain Pound 221,540 1,018,965 843,190 45,765
Euro 671,042 848,178 172,401 (4,735)
Japanese Yen 18,618 12 – 18,606
Swiss Franc 5,569 752 – 4,817
Others 15,619 8,876 – 6,743
164,350,039 150,687,274 – 13,662,765
41.2.2 Equity price risk and Fixed Income rate risk

The Bank has a set of approved notional & dealer limits for managing risk across the trading & banking book.
Furthermore bank has also established sensitivity base limit (DVO1) for monitoring treasury portfolio. In order
to manage the market risk in the trading book, the Bank periodically applies a VaR methodology to assess the
market risk positions held. Currently the Bank is using variance covariance model for calculating VaR across
both the equity & fixed income portfolios.
Equity Price Risk is the risk to earnings or capital that results from adverse changes in the value of equity related
portfolios of the Bank. Price risk associated with equities could be systemic or idiosyncratic. The Bank is also
using Market Risk tools such as Alpha, Beta and Sharpe ratio for risk measurement and assessment.
Fixed income securities are subject to the risk of price volatility due to interest rate movements. Fixed rate debt
securities with longer maturities tend to be more sensitive to interest rate movements than those with shorter
maturities. The Bank is using Market Risk tools such as PVBP, Duration, Parallel shift and Non Parallel shift for
risk measurement and assessment.

76
41.2.3 Mismatch of Interest Rate Sensitive Assets and Liabilities
2011
Exposed to Yield / Interest rate risk
Effective Over 1 Over 3 Over 6 Over 1 Over 2 Over 3 Over 5 Non-interest
Yield / Total Upto 1 to 3 to 6 Months to 1 to 2 to 3 to 5 to 10 Over bearing financial
Interest Month Months Months Year Years Years Years Years 10 Years instruments
rate
(Rupees '000')
On-balance sheet financial instruments
Assets
Cash and balances with treasury banks 0.00% 7,969,044 – – – – – – – – – 7,969,044
Balances with other banks 0.03% 1,486,830 633,084 – – – – – – – – 853,746
Lendings to financial institutions 12.99% 14,666,918 14,666,918 – – – – – – – – –
Investments 10.82% 49,598,830 752,974 12,809 2,900,451 27,476,993 5,787,308 2,997,890 2,424,316 1,001,623 – 6,244,466
Advances 11.73% 60,844,380 9,814,229 35,122,324 5,099,252 1,405,968 2,798,065 2,419,698 2,436,187 1,073,867 674,790 –
Other assets 14.60% 2,803,395 – 98,856 – – – – – – – 2,704,539
137,369,397 25,867,205 35,233,989 7,999,703 28,882,961 8,585,373 5,417,588 4,860,503 2,075,490 674,790 17,771,795
Liabilities
Bills payable – 1,738,422 – – – – – – – – – 1,738,422
Borrowings 11.58% 47,382,031 37,762,782 4,720,052 3,130,867 – 52,996 480,371 822,527 412,436 – –
Deposits and other accounts 7.54% 85,488,268 12,383,300 35,355,725 4,695,641 6,838,057 189,706 27,486 14,295 115 – 25,983,943
Sub-ordinated loans 14.63% 3,994,400 – 3,994,400 – – – – – – – –
Other liabilities – 2,365,655 – – – – – – – – – 2,365,655
140,968,776 50,146,082 44,070,177 7,826,508 6,838,057 242,702 507,857 836,822 412,551 – 30,088,020
On-balance sheet gap (3,599,379) (24,278,877) (8,836,188) 173,195 22,044,904 8,342,671 4,909,731 4,023,681 1,662,939 674,790 (12,316,225)
Non Financial Net Assets 17,275,883

Total Net Assets 13,676,504
Off-balance sheet financial instruments
Foreign exchange contracts - purchase 56,859,837 15,399,112 23,141,924 17,755,251 563,550 – – – – – –

Foreign exchange contracts - sale 58,787,111 19,683,105 15,321,080 23,782,926 – – – – – – –
Off-balance sheet gap (1,927,274) (4,283,993) 7,820,844 (6,027,675) 563,550 – – – – – –
Total Yield / Interest Rate Risk Sensitivity Gap (28,562,870) (1,015,344) (5,854,480) 22,608,454 8,342,671 4,909,731 4,023,681 1,662,939 674,790 (12,316,225)
Cumulative Yield / Interest Rate Risk Sensitivity Gap (28,562,870) (29,578,214) (35,432,694) (12,824,240) (4,481,569) 428,162 4,451,843 6,114,782 6,789,572 (5,526,653)
Annual Report 2011

2010
Annual Report 2011

Effective Over 1 Over 3 Over 6 Over 1 Over 2 Over 3 Over 5 Non-interest
Yield / Total Upto 1 to 3 to 6 Months to 1 to 2 to 3 to 5 to 10 Over bearing financial
Interest Month Months Months Year Years Years Years Years 10 Years instruments
rate
(Rupees '000')
Assets
Balances with other banks 0.00% 2,951,479 2,641,522 – – – – – – – – 309,957
Lendings to financial institutions 12.11% 6,429,166 5,650,258 778,908 – – – – – – – –
Investments 10.10% 51,789,035 1,261,164 24,445,215 6,438,990 6,227,196 889,674 3,235,181 1,704,227 289,342 306,563 6,991,483
Advances 12.31% 74,566,015 10,893,113 49,442,712 4,327,109 1,696,181 2,876,093 2,209,288 1,899,236 708,186 514,097 –
Other assets _ 3,449,633 – – _ – – – – – – 3,449,633
148,021,777 20,446,057 74,666,835 10,766,099 7,923,377 3,765,767 5,444,469 3,603,463 997,528 820,660 19,587,522
Liabilities
Bills payable – 1,335,493 – – – – – – – – – 1,335,493
Borrowings 11.46% 42,361,934 28,563,313 7,513,257 4,468,556 200,912 376,794 329,268 656,699 253,135 – –
Other liabilities – 3,582,055 – – – – – – – – – 3,582,055
150,444,855 39,501,072 28,348,542 41,167,604 9,373,507 682,464 544,540 675,288 253,269 – 29,898,569
On-balance sheet gap (2,423,078) (19,055,015) 46,318,293 (30,401,505) (1,450,130) 3,083,303 4,899,929 2,928,175 744,259 820,660 (10,311,047)
Foreign exchange contracts - purchase 66,004,625 24,112,287 22,501,915 17,536,494 1,853,929 – – – – – –

Off-balance sheet gap (1,307,405) (4,707,834) (2,436,148) 3,982,648 1,853,929 – – – – – –
Total Yield / Interest Rate Risk Sensitivity Gap (23,762,849) 43,882,145 (26,418,857) 403,799 3,083,303 4,899,929 2,928,175 744,259 820,660 (10,311,047)
Cumulative Yield / Interest Rate Risk Sensitivity Gap (23,762,849) 20,119,296 (6,299,561) (5,895,762) (2,812,459) 2,087,470 5,015,645 5,759,904 6,580,564 (3,730,483)
77
78
41.3 Liquidity Risk
Liquidity risk exposure is the risk caused, among others, by the inability of the Bank to settle its liabilities on their due dates.
The Bank's objective of liquidity management is to ensure that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without
incurring unacceptable losses.
The liquidity risk policy is formulated keeping in view SBP's guidelines on risk management and international best practices. The Bank maintains its liquidity by keeping a level of liquid
assets that is considered sufficient to settle its obligations when due.
The Bank manages its liquidity risk through
- Controlling the cash flow mismatch between on- and off-balance sheet assets and liabilities;
- Maintaining stable and diversified sources of funding;
- Ensuring the Bank has the right asset portfolio mix and sufficient liquid assets on hand in relation to its daily cash flows.
The Bank carries out careful monitoring and control of the daily liquidity position, and regular liquidity stress testing under a variety of scenarios. Scenarios encompass both normal and
stressed market conditions, including general market crises and the possibility that access to markets could be impacted by a stress event affecting some part of the Bank's business.
Exposure to liquidity risk is also monitored through regular review of liquidity risk limits and escalation of any liquidity risk limit excesses to senior management.
41.3.1 Maturities of Assets and Liabilities - Based on contractual maturity of the Assets and Liabilities of the Bank
2011
Over 1 Over 3 Over 6 Over 1 Over 2 Over 3 Over 5
Total Upto 1 to 3 to 6 Months to 1 to 2 to 3 to 5 to 10 Over
Month Months Months Year Years Years Years Years 10 Years
(Rupees '000')
Assets
Cash and balances with treasury banks 7,969,044 7,969,044 – – – – – – – –
Balances with other banks 1,486,830 1,486,830 – – – – – – – –
Lendings to financial institutions 14,666,918 14,666,918 – – – – – – – –
Investments 49,598,830 230,353 693,586 852,374 27,585,819 5,974,198 3,080,127 3,399,644 2,315,463 5,467,266
Advances 60,844,380 35,563,691 9,372,863 5,099,252 1,405,967 2,798,065 2,419,698 2,436,187 1,073,867 674,790
Operating fixed assets 2,693,795 20,969 197,700 59,760 104,462 170,630 140,201 182,139 262,771 1,555,163
Intangible assets 2,054,426 30,604 61,188 91,782 163,085 325,419 313,781 575,072 493,495 –
Deferred tax assets 11,017,000 (57,921) (64,576) (16,418) 242,370 915,391 1,526,863 3,552,319 4,918,972 –
Other assets 4,462,407 138,134 2,192,489 79,624 1,309,389 665,381 28,011 48,555 824 –
154,793,630 60,048,622 12,453,250 6,166,374 30,811,092 10,849,084 7,508,681 10,193,916 9,065,392 7,697,219
Liabilities
Bills payable 1,738,422 1,738,422 – – – – – – – –
Borrowings 47,382,031 37,762,783 4,720,052 3,130,866 – 52,996 480,371 822,527 412,436 –

Deposits and other accounts 85,488,268 64,942,068 8,780,900 4,695,641 6,838,057 189,706 27,486 14,295 115 –
Sub-ordinated loans 3,994,400 – 800 – 800 666,136 1,330,672 1,995,992 – –
Other liabilities 2,514,005 1,065,981 925,262 174,293 253,873 14,947 2,370 – 77,279 –
141,117,126 105,509,254 14,427,014 8,000,800 7,092,730 923,785 1,840,899 2,832,814 489,830 –
Net assets 13,676,504 (45,460,632) (1,973,764) (1,834,426) 23,718,362 9,925,299 5,667,782 7,361,102 8,575,562 7,697,219
Share capital 103,028,512

Reserves 218,276
Discount on issue of shares (45,769,623)
Accumulated Loss (43,893,095)
Shareholders’ equity 13,584,070
Surplus on revaluation of assets - net 92,434
13,676,504
The above maturity profile has been prepared in accordance with International Financial Reporting Standard 7, Financial Instruments: Disclosures, based on contractual maturities. Consequently, all demand
assets and liabilities such as running finance, current accounts and saving accounts are shown as having a maturity upto one month. However, based on historical behaviour, management is of the opinion
that the possibility of these inflows / outflows actually occuring entirely within one month is remote, as these flows normally occur over a period of one month to three years.
Annual Report 2011

Annual Report 2011
2010
(Rupees '000')
Assets
Lendings to financial institutions 6,429,166 5,650,258 778,908 – – – – – – –
Investments 51,789,035 1,261,163 25,167,345 1,539,302 6,362,527 1,122,503 4,309,570 4,368,873 1,642,224 6,015,528
Advances 74,566,015 46,084,526 8,575,231 4,829,904 2,580,891 4,034,919 3,435,273 3,346,101 1,016,741 662,429
Intangible assets 2,419,148 30,818 61,634 92,291 183,606 345,735 324,494 600,033 780,537 _
Deferred tax assets 9,480,983 42,219 84,432 126,648 253,806 374,940 501,292 2,512,240 6,188,468 (603,062)
Other assets 5,158,789 419,205 3,320,894 181,170 21,827 323,368 297,119 583,235 11,971 –
164,350,039 65,299,041 38,084,454 6,841,490 9,524,694 6,398,753 9,015,043 11,618,295 9,904,545 7,663,724
Liabilities
Bills payable 1,335,493 1,335,493 – – – – – – – –
Borrowings 42,361,934 28,563,313 7,513,257 4,468,556 200,912 376,794 329,268 656,699 253,135 –
Sub-ordinated loans 3,996,000 – 800 – 800 1,600 666,200 2,661,300 665,300 –

Other liabilities 3,824,474 1,192,664 1,528,186 401,424 579,639 28,664 15,412 2,370 76,115 –
150,687,274 100,782,603 25,881,528 7,796,675 9,953,946 712,728 1,226,152 3,338,958 994,684 –
Net assets 13,662,765 (35,483,562) 12,202,926 (955,185) (429,252) 5,686,025 7,788,891 8,279,337 8,909,861 7,663,724

Reserves 8,464,894

Advance against proposed
rights issue 6,352,360
13,662,046
Surplus on revaluation of assets - net 719
13,662,765
The above maturity profile has been prepared in accordance with International Financial Reporting Standard 7, Financial Instruments: Disclosures, based on contractual maturities. Consequently, all demand
assets and liabilities such as running finance, current accounts and saving accounts are shown as having a maturity upto one month. However, based on historical behaviour, management is of the opinion
that the possibility of these inflows / outflows actually occuring entirely within one month is remote, as these flows normally occur over a period of one month to three years.
79
80
41.3.2 Maturities of Assets and Liabilities - Based on historical pattern of the Assets and Liabilities of the Bank
2011
(Rupees '000')
Assets
Investments 49,598,830 230,353 693,586 852,374 27,585,819 5,974,198 3,080,127 3,399,644 2,315,463 5,467,266
Advances 60,844,380 11,900,829 9,917,074 5,533,386 24,090,484 2,798,065 2,419,698 2,436,187 1,073,867 674,790
Intangible assets 2,054,426 30,604 61,188 91,782 163,085 325,419 313,781 575,072 493,495 –
Other assets 4,462,407 138,134 2,192,489 79,624 1,309,389 665,381 28,011 48,555 824 –
154,793,630 36,385,760 12,997,461 6,600,508 53,495,609 10,849,084 7,508,681 10,193,916 9,065,392 7,697,219
Liabilities
Bills payable 1,738,422 1,738,422 – – – – – – – –
Borrowings 47,382,031 37,762,783 4,720,052 3,130,866 – 52,996 480,371 822,527 412,436 –
Deposits and other accounts 85,488,268 22,346,311 11,059,569 16,407,362 11,601,627 4,950,229 4,791,056 4,782,219 4,772,392 4,777,503
141,117,126 62,913,497 16,705,683 19,712,521 11,856,300 5,684,308 6,604,469 7,600,738 5,262,107 4,777,503
Net assets 13,676,504 (26,527,737) (3,708,222) (13,112,013) 41,639,309 5,164,776 904,212 2,593,178 3,803,285 2,919,716

Reserves 218,276
Surplus on revaluation of assets - net 92,434
13,676,504
The above maturity profile has been prepared in accordance with the historical pattern of contractual maturities.
Annual Report 2011

Annual Report 2011
2010
(Rupees '000')
Assets
Investments 51,789,035 1,261,163 25,167,345 1,539,302 6,362,527 1,122,503 4,309,570 4,368,873 1,642,224 6,015,528
Advances 74,566,015 5,918,283 8,880,334 24,760,474 22,511,461 4,034,919 3,435,273 3,346,101 1,016,741 662,429
Intangible assets 2,419,148 30,818 61,634 92,291 183,606 345,735 324,494 600,033 780,537 _
Other assets 5,158,789 419,205 3,320,894 181,170 21,827 323,368 297,119 583,235 11,971 –
164,350,039 25,132,798 38,389,557 26,772,060 29,455,264 6,398,753 9,015,043 11,618,295 9,904,545 7,663,724
Liabilities
Bills payable 1,335,493 1,335,493 – – – – – – – –
Borrowings 42,361,934 28,563,313 7,513,257 4,468,556 200,912 376,794 329,268 656,699 253,135 –
150,687,274 57,166,858 28,227,484 19,059,227 14,840,329 5,511,428 6,112,536 8,350,602 6,131,590 5,287,220
Net assets 13,662,765 (32,034,060) 10,162,073 7,712,833 14,614,935 887,325 2,902,507 3,267,693 3,772,955 2,376,504

Reserves 8,464,894

Advance against proposed
rights issue 6,352,360
13,662,046
Surplus on revaluation of assets - net 719
13,662,765
81
41.4 Operational Risk Management

Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or
from external events. The Bank seeks to ensure that key operational risks are managed in a timely and effective
manner through a framework of policies, procedures and tools to identify, assess, monitor, control and report
such risks.
The key objectives of Operational Risk measurement and management include:
– Ensuring continued solvency of the Bank through capital adequacy and enhanced understanding and
management of significant operational risk exposures.
– Ensuring that customer impact is minimized through proactive and focused risk management practices.
– Ensuring senior management attention on significant operational risk exposure areas and that risk mitigation
is given prioritized focus.
The IRMC has the responsibility to supervise and direct the management of operational risks and key operational
risk exposures. The IRMC is also responsible for ensuring that adequate and appropriate policies and procedures
are in place for the identification, assessment, monitoring, control and reporting of operational risks.
The Bank has undertaken the following high-level strategic initiatives for the effective implementation of Operational
Risk Management:
– Developing policies, procedures and defining end to end information flow to establish a vigorous governance
infrastructure.
– Putting in place risk and control self assessment framework across the bank.
– Collection of Operational Loss data across the bank and take remedial / corrective action as required.
42. DATE OF AUTHORIZATION FOR ISSUE

These unconsolidated financial statements were authorized for issue on February 22, 2012 by the Board of Directors
of the Bank.

Statement showing written-off loans or any other financial relief of
five hundred thousand rupees or above provided
during the year ended December 31, 2011
(Rupees '000')
Name of Individual / partners / directors Outstanding Liabilities Before Adjustments
Annual Report 2011

Interest/ Other
Accrued Principal Mark-up Financial
Annexure - 1
S.No. Name & Address of borrower Name NIC No. Father’s / Husband’s Name Principal Mark-up Others Total written off written off Relief Total
1 ZULFIQAR AHMED ZULFIQAR AHMED 32202-2514989-9 MOHAMMAD ABBAS 703 60 - 763 703 60 - 763
HOUSE # B-441, 1ST FLOOR, PEOPLE COLONY,
BLOCK N, NORTH NAZIMABAD, KARACHI.
2 ZEESHAN AHMED QURESHI ZEESHAN AHMED QURESHI 42201-2054225-7 MUHAMMAD HANIF 836 488 - 1,324 836 488 - 1,324
HOUSE NO 706/219, FATIMAH JINNAH COLONY,
JAMSHED ROAD NO 3, KARACHI.
3 ZAFAR IQBAL CHUDARY ZAFAR IQBAL CHUDARY 35201-1322748-1 CHUDARY MUHAMMAD RAFIQ 594 98 - 692 594 98 - 692
HOUSE NO 35/1, STREET NO 1, CROWN PARK,
BAGHBAN PURA, LAHORE.
4 TOUQEER IQBAL TOUQEER IQBAL 36302-5874120-1 MUHAMMAD IQBAL JAWAID 667 110 - 777 667 110 - 777
H NO 524, WARD NO 8 H MOHALA HAKEEMON
WAL INSIDE HARM GATE, MULTAN.
5 SHER MUHAMMAD SHER MUHAMMAD 35201-3903886-5 NADIR KHAN 530 44 - 574 530 44 - 574
House # 8/A, STREET # 3, SHAHEEN PARK,
MUGHAL PURA, LAHORE.
6 SHABAB ALI SHEIKH SHABAB ALI SHEIKH 37402-7515167-1 SHEIKH MUHAMMAD SALEEM 942 157 - 1,099 942 157 - 1,099
HOUSE # 692, STREET 100-A I-10/4,
ISLAMABAD.
7 SADIA RASHEED SADIA RASHEED 42301-4740346-6 SARDAR ABDUL RASHEED 588 52 - 640 588 52 - 640
FLAT NO. 104, BEST HOMES, BLOCK-2, CLIFTON,
KARACHI.
8 RANA KHALID MEHMOOD RANA KHALID MEHMOOD 31202-4365671-3 SHER MUHAMMAD 698 61 - 759 698 61 - 759
RANA KHALID MEHMOOD BACK SIDE ABBAS GOODS
TRANSPORT, MULTAN ROAD, BASTI BINDRA, BAHAWALPUR.
9 RAJA JAWAID SULTAN RAJA JAWAID SULTAN 42101-3099261-1 RAJA MUHAMMAD INAYAT KHAN 1,124 186 - 1,310 1,124 186 - 1,310
HOUSE NO. R-739, AL NOOR SOCIETY, BLOCK-19,
FEDERAL B. AREA, KARACHI.
10 RAFIQ QASIM ALI RAFIQ QASIM ALI 42101-1645106-3 QASIM ALI 942 157 - 1,099 942 157 - 1,099
FLAT NO. L 7 3 E 1, GULSHAN E KARIM, NAZIMABAD,
KARACHI.
11 NAVEED AHMED NAVEED AHMED 35202-2648398-5 CH GHULAM HUSSAIN 1,155 181 - 1,336 1,155 181 - 1,336
HOUSE NUMBER 170/B, SECTOR ARMY OFFICER
HOUSING SOCIETY, ASKARI-10, AIRPORT, LAHORE.
12 NAEEM UDDIN NAEEM UDDIN 42201-3576503-9 WAHEED UDDIN 504 307 - 811 504 307 - 811
HOUSE NO. 69-L, BLOCK-2, P.E.C.H.S.,
KARACHI.
13 NAEEM AHMED NAEEM AHMED 37301-7260054-9 SHEIKH GHULAM AHMED 1,313 210 - 1,523 1,313 210 - 1,523
HOUSE NO. C-424, BILAL TOWN,
JHELUM.
14 NADEEM YASEEN SHANAWAR NADEEM YASEEN SHANAWAR 35102-5630501-7 MUHAMMAD YASEEN 1,488 794 - 2,282 1,488 794 - 2,282
HOUSE NO. 19, S-93 STREET, MIAN SKENDAR MAIN
BAZAR ROAD, KOT KASUR, KASUR.
15 NADEEM NISAR AHMED NADEEM NISAR AHMED 42201-6070613-7 NISAR AHMED 636 104 - 740 636 104 - 740
FLAT NO. A-97, ERUM GARDEN, BLOCK 13/D-3,
GULSHAN-E-IQBAL, KARACHI.
16 NADEEM NADEEM 42301-1647265-5 MUHAMMAD ISMAIL 675 129 - 804 675 129 - 804
PLOT NO. 137/3, FLAT NO. B-514, 5TH FLOOR.
OWN PARADISE APPARTMENT, GARDEN WEST, KARACHI.
17 MUSHTAQ ALI MUSHTAQ ALI 42201-0639447-7 BARKAT ALI 645 106 - 751 645 106 - 751
HOUSE # 303, ZANAB BLOCK-B, 3RD FLOOR,
ZAINBIYA SAKOON BUILDING, NUMAISH, KARACHI.
18 MUHAMMAD YOUSUF SHEIKH MUHAMMAD YOUSUF SHEIKH 42301-6944454-9 MEHMOOD SHEIKH JI 576 92 - 668 576 92 - 668
FLAT # C 114, AL MUSTAFA PRIDE, 1ST FLOOR ,
BLOCK C-P/T-L-2/31, AL MUSTAFA PIDE,
REHMAT MASJID STREET, KARACHI.
83
84
(Rupees '000')
Interest/ Other
Annexure - 1
19 MUHAMMAD SOHAIL KHAN MUHAMMAD SOHAIL KHAN 42101-1788809-9 MUHAMMAD SHARIF KHAN 674 112 - 786 674 112 - 786
HOUSE # C-6-A, FIRDOS COLONY, LIAQUATABAD TOWN,
GULBAHAR, KARACHI.
20 MUHAMMAD SHOAIB BUTT MUHAMMAD SHOAIB BUTT 35202-1359856-7 MUHAMMAD AKBAR BUTT 979 158 - 1,137 979 158 - 1,137
HOUSE NO. 177, STREET NO. 8, BS SHARIF PARK,
OUT FALL ROAD, USMAN ROAD, SANAT NAGAR, LAHORE.
21 MUHAMMAD SALEEM MUHAMMAD SALEEM 42201-0550983-1 MUHAMMAD SHARIF 890 147 - 1,037 890 147 - 1,037
HOUSE # 30/1, STREET-19, MODEL COLONY,
KARACHI.
22 MUHAMMAD NAEEM MUHAMMAD NAEEM 42201-7197677-5 ALI MUHAMMAD 1,124 186 - 1,310 1,124 186 - 1,310
HOUSE NO. Q-190, Q AREA, KORANGI NO. 2,
KARACHI.
23 MUHAMMAD MUNAAF MUHAMMAD MUNAAF 42101-2381014-1 ABDUL SATTAR 850 140 - 990 850 140 - 990
HOUSE NO. 151, BANTWA NAGAR,
SIR SULEMAN SHAH ROAD, LIAQATABAD, KARACHI.
24 MUHAMMAD IRSHAD MUHAMMAD IRSHAD 35404-1531747-3 WALI MUHAMMAD 824 119 - 943 824 119 - 943
TOKRIYAN WALA BAZAR,
SHEIKHPURA.
25 MUHAMMAD AMIN MUHAMMAD AMIN 42101-8735231-9 MUHAMMAD MOOSA 846 136 - 982 846 136 - 982
FLAT NO. 409, SILANI CENTRE, BARAR SOCIETY,
KARACHI.
26 MOHSIN ZAFAR MOHSIN ZAFAR 35202-9475154-7 MUHAMMAD AZAM ZAFAR 1,226 217 - 1,443 1,226 217 - 1,443
HOUSE # 1, ZAFAR MANZIL, STREET # 3,
BUSHRA ZAFAR STREET, OPPOSITE WAPDA OFFICE,
MAIN BAZAR SANDA KALAN SECTOR 85, LAHORE.
27 MOHAMMAD RIZWAN AHMED KHAN MOHAMMAD RIZWAN AHMED KHAN 42201-5543652-5 IRFAN AHMED KHAN 1,450 235 - 1,685 1,450 235 - 1,685
HOUSE NO. 001/VI, BILLYS TERRACE, BLOCK 10-A,
28 MOHAMMAD ANIS KHAN MOHAMMAD ANIS KHAN 42201-6711711-1 MUHAMMAD NAFOOS KHAN 850 140 - 990 850 140 - 990
HOUSE NO. 53, SECTOR 35/B, KORANGI NO. 4,
KARACHI.
29 MOHAMMAD JAVED MOHAMMAD JAVED 42301-5600855-9 MOHAMMAD YOUSUF 526 77 - 603 526 77 - 603
FLAT # G-1, GROUND FLOOR, SEVEN STAR PRIDE,
ISLAM GANJ, GARDEN WEST, KARACHI.
30 MOHAMMAD IRFAN MOHAMMAD IRFAN 42201-0436254-7 MOHAMMAD MUBEEN 517 38 - 555 517 38 - 555
HOUSE # R-78, BLOCK # 13 / D - 3, GULSHAN-E-IQBAL,
KARACHI.
31 MEHMOOD AHMED MEHMOOD AHMED 33100-0707614-1 SAGHEER AHMED 681 113 - 794 681 113 - 794
ST NO. 1, P-97/15-C, GULISTAN COLONY NO. 2,
MOH. HAFEEZABAD, FAISALABAD.
32 MALIK SHAHID AMIN MALIK SHAHID AMIN 35202-0227040-9 MALIK MOHD AMIN 1,670 145 - 1,815 1,670 145 - 1,815
HOUSE NO, 279, PAK BLOCK MUHALLAH
ALLAMA IQBAL TOWN LAHORE LAHORE.
33 MALIK MUHAMMAD SHAKEEL MALIK MUHAMMAD SHAKEEL 35202-5832996-1 MANZOOR ILLAHI 616 102 - 718 616 102 - 718
HOUSE NO. D/17, SHAH FAISAL COLONY NO.1,
KARACHI.
34 KHALID KHALID 42201-0849422-7 MUHAMMAD SAEED 984 160 - 1,144 984 160 - 1,144
HOUSE # A-19, SECTOR # 8/B, BILAL COLONY, KORANGI,
KARACHI.
35 KASHIF JAVED KASHIF JAVED 42101-1569978-5 MUHAMMAD JAVED BALOCH 654 108 - 762 654 108 - 762
HOUSE NO. 20, BLOCK-78, SECTOR 5-D,
NEW KARACHI, KARACHI.
36 KAMAL AKHTER KAMAL AKHTER 42101-1429126-1 MUHAMMAD RAFIQ 850 140 - 990 850 140 - 990
HOUSE NO. R-472, BLOCK NO.16, F.B. AREA,
KARACHI.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
37 JAMSHED AHMED KHAN JAMSHED AHMED KHAN 42201-2336948-7 GULSHED AHMED KHAN 550 91 - 641 550 91 - 641
H NO. R-13,1ST FLOOR, SECTOR 33-C, KORANGI NO. 2,
KARACHI.
38 IMRAN ALI IMRAN ALI 42301-0807185-3 HAYDER ALI 650 64 - 714 650 64 - 714
FLAT NO. 604, 6TH FLOOR, EZAN GARDEN, PARSI COLONY,
SOLDIER BAZAR, KARACHI.
39 IMAD AZHAR HUSSAIN IMAD AZHAR HUSSAIN 42101-1857514-3 SYED AZHAR HUSSAIN 564 97 - 661 564 97 - 661
B-54, BLOCK-2, GULISTAN-E-JOHAR,
KARACHI.
40 HUMA JAMEEL HUMA JAMEEL 42101-8731397-4 JAMEEL AHMED 660 109 - 769 660 109 - 769
B-91, BLOCK-L, NORTH NAZIMABAD,
KARACHI.
41 HARIS KHALID HARIS KHALID 42201-2723198-1 MIAN KHALID UMAR 686 60 - 746 686 60 - 746
PLOT NO. 396/1, PEDRO DESOZA ROAD,
GARDEN EAST, KARACHI.
42 FAISAL MEHMOOD FAISAL MEHMOOD 35201-8520390-5 SH SADIQ ALI 596 50 - 646 596 50 - 646
HOUSE # 16, JAVED STREET, MAQBOOL ROAD, ICHRA,
LAHORE.
43 DILDAR SHAIKH DILDAR SHAIKH 42201-1023126-3 DOST MUHAMMAD SHAIKH 660 109 - 769 660 109 - 769
HOUSE NO. C-37/1, BLOCK 10-A, GULSHAN-E-IQBAL,
KARACHI.
44 CHAUDHRY MUHAMMAD HANIF CHAUDHRY MUHAMMAD HANIF 42301-9283363-9 CHAUDHRY MUHAMMAD AHMED 684 67 - 751 684 67 - 751
PLOT NO. 6-C, FLAT-1, RAHAT COMMERCIAL LANE NO. 1,
PHASE-VI, D.H.A., KARACHI.
45 AYAZ SECURITY SERVICES PVT. LTD. ZAHID MEHMOOD MALIK 42101-4009799-9 SULTAN MAHMUD MALIK 790 140 - 930 790 140 - 930
A-2, 1ST FLOOR, PLOT NO. A-45, RAILWAY HOUSING ZAFAR MEHMOOD MALIK 42101-2187809-1
SOCIETY, BLOCK 13-B, GULSHAN-E-IQBAL, KARACHI.
46 AL HUDAIBIYAH (PVT) LTD. SHAHEEN BEGUM 42101-3544568-8 MUHAMMAD YAMIN 645 106 - 751 645 106 - 751
SUIT NO. 104, IST FLOOR, SUPREME SHOPPING MALL, MUHAMMAD JAVAID 42101-7638805-1
BLOCK-18, GULISTAN-E-JAUHAR, KARACHI. MUHAMMAD RAEES 42101-1912921-7
47 AJMAL ELAHI AJMAL ELAHI 42101-0855332-1 REHEM ELAHI 660 109 - 769 660 109 - 769
FLAT NO. 205, ZUBIADA HEIGHTS, NAZIMABAD,
KARACHI.
48 ABDUL HAFEEZ ABDUL HAFEEZ 36302-1674740-9 ABDUL RASHEED 520 46 - 566 520 46 - 566
HOUSE NO. 49/51 ST NO. BLOCK-Y, NEW MULTAN,
MULTAN.
49 ABDUL MAJEED ABDUL MAJEED 35202-8897922-7 ALI MUHAMMAD 517 38 - 555 517 38 - 555
802 G-4, JOHAR TOWN,
LAHORE.
50 ABDUL JABBAR ABDUL JABBAR 42201-8568926-9 SARDAR ALI 1,335 221 - 1,556 1,335 221 - 1,556
HOUSE NO.G-128, GALI NO.1, GULFISHAN SOCIETY,
AZEEMPURA, KARACHI.
51 MUHAMMAD EHTESHAM MUHAMMAD EHTESHAM 42201-2508144-1 MUAHMMAD YOUNUS 920 81 - 1,001 920 81 - 1,001
HOUSE NO. 87, SECTOR 35-B, KORANGI NO. 4,
KARACHI.
52 SYED NAJAMUL HASSAN SYED NAJAMUL HASSAN 42101-4805014-1 SYED AZIZ UR REHMAN 1,814 90 - 1,904 1,814 90 - 1,904
C-177, BLOCK-J, NORTH NAZIMABAD,
KARACHI.
53 MUHAMMAD IRSHAD MUHAMMAD IRSHAD 42301-1019531-7 MUHAMMAD IDREES 870 143 - 1,013 870 143 - 1,013
FLAT NO. 9, 4TH FLOOR, SAEEDA MANSION,
STREET NO. 6, BURNS ROAD, KARACHI.
54 MUHAMMAD AZAM SHEIKH MUHAMMAD AZAM SHEIKH 38403-2647375-7 SHEIKH MANZOOR AHMAD 623 94 - 717 623 94 - 717
VOHRA HOUSE, CLUB ROAD, HOUSE NO. 404,
CIVIL LINE, SARGODHA.
85
86
(Rupees '000')
Interest/ Other
Annexure - 1
55 MUHAMMAD ASLAM MUHAMMAD ASLAM 42101-8932412-5 MURAD KHAN 880 145 - 1,025 880 145 - 1,025
HOUSE # L-191, SECTOR 5-B-2, NORTH KARACHI,
KARACHI.
56 KHAWAJA NASIR MUHAMMAD KHAWAJA NASIR MUHAMMAD 37405-0259963-3 KHAWAJA NAZWAZ ULLAH AKHWAND 1,439 126 - 1,565 1,439 126 - 1,565
HOUSE NO. 109/8A, ST NO. 17, BEAUTY BANK CHAKLALA
SCHEEM-3, RAWALPINDI.
57 MUHAMMAD ISHTIAQ MUHAMMAD ISHTIAQ 35202-8761872-9 MUHAMMAD DIN 545 48 - 593 545 48 - 593
HOUSE NO. 27, STREET NO. 17, SADI PARK MAZONG,
LAHORE.
58 ASIF HAIDER ASIF HAIDER 13503-7680287-9 HAIDER ZAMAN 968 166 - 1,134 968 166 - 1,134
HOUSE NO. 29-B, MOHALLA GHAZI KOT TOWN SHIP
SECTOR-D MANSEHRA, MANSEHRA.
59 MALIK TANVEER SUBHANI MALIK TANVEER SUBHANI 81302-9551936-3 MALIK KARAMAT ULLAH 716 62 - 778 716 62 - 778
MAHAJAR COLONY, KHALIQABAD, MIRPUR AK,
MIRPUR.
60 MUHAMMAD NAVEED QADRI MUHAMMAD NAVEED QADRI 31304-9601904-1 HAFEEZ ULLAH 730 122 - 852 730 122 - 852
HOUSE # 1099, STREET NO. 01, MEHMOODABAD 06,
KARACHI.
61 SYED SARFARAZ HUSSAIN ZAIDI SYED SARFARAZ HUSSAIN ZAIDI 36302-6484853-5 SYED NAZAR ABBAS ZAIDI 713 119 - 832 713 119 - 832
ST NO. 5, HOUSE NO. 2, GULZAIB COLONY,
MULTAN.
62 JAMEEL AHMED JAMEEL AHMED 42101-7783834-9 MUHAMMAD MIRAJ UDDIN 629 104 - 733 629 104 - 733
HOUSE # 1-E 16/10 NAZIMABAD # 1,
KARACHI.
63 MUHAMMAD ASIM MUHAMMAD ASIM 35202-2741488-5 MUHAMMAD QASIM 882 76 - 958 882 76 - 958
G-2, PNT COLONEY, MULTAN ROAD,
LAHORE.
64 MALIK ABDUL KHALIQ MALIK ABDUL KHALIQ 42000-0381103-1 MALIK ABDUL JALIL 890 147 - 1,037 890 147 - 1,037
HOUSE A-19, BLOCK-I, NORTH NAZIMABAD,
KARACHI.
65 MUHAMMAD ISHFAQ MUHAMMAD ISHFAQ 35202-5275736-7 RIAZ AHMAD 638 57 - 695 638 57 - 695
4-A, SIRAJ BUILDING BEGUM ROAD, MOZANG,
LAHORE.
66 ABDUL RASHEED ABDUL RASHEED 42000-0467446-7 ABDUL MAJEED 898 153 - 1,051 898 153 - 1,051
HOSUE 3-D-9/9, SECTOR 3-D, DAKHANA NAZIMABAD,
KARACHI.
67 RASHID HUSSAIN RASHID HUSSAIN 42201-5697178-9 SHAHZADA NASEER QURESHI 917 152 - 1,069 917 152 - 1,069
HOUSE # 15, GALI NO.40, AREA 37, LANDHI 3 1/3,
KARACHI.
68 AZHAR IQBAL AZHAR IQBAL 38403-6466933-1 ZAHEER AHMAD 584 78 - 662 584 78 - 662
HOUSE NO. 53, SULTAN COLONY ROAD,
SARGODHA.
69 MALIK MUHAMMAD ALI MALIK MUHAMMAD ALI 31303-2420170-7 MALIK MUHAMMAD SAEED AKHTER 506 68 - 574 506 68 - 574
HOUSE NO. B3/65, MOHALLA MALIK FEROOZ DIN,
RAHIMYAR KHAN.
70 KHALID SAEED BUTT KHALID SAEED BUTT 36302-6617811-7 SAEED ULLAH BUTT 672 111 - 783 672 111 - 783
HOUSE NO. 239/B/2, SULTAN AHMED KHAN, STREET
CHAH BOHAR WALA, NEAR THANA JALIL ABAD, MULTAN.
71 MUSHTAQ ALI MUSHTAQ ALI 42201-3134944-9 HUSSAIN ALI 506 97 - 603 506 97 - 603
HOUSE NO 111-B/2, 1ST FLOOR, BAITUL MAJEED,
SOLDIER BAZAR NO. 2, KARACHI.
72 KHAWAJA SAADAT MASOOD SIDDIQUE KHAWAJA SAADAT MASOOD SIDDIQUE 36302-3891439-7 KHAWAJA ABDUL RAHEEM SIDDIQUE 543 104 - 647 543 104 - 647
HOUSE NO. 3081/8M PEER MARKET OUTSIDE
BOHAR GATE, MULTAN.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
73 SAYED ASAD ALI MEHMODI SAYED ASAD ALI MEHMODI 42201-2693411-1 SYED AHSAN ALI MEMOODI 714 53 - 767 714 53 - 767
HOUSE # 638-C, BLOCK-2, PECHS,
KARACHI.
74 IMRAN AHMED QURESHI IMRAN AHMED QURESHI 42000-9406939-7 MUHAMMAD AKRAM QURESHI 1,275 515 - 1,790 1,275 515 - 1,790
HOUSE NO. E/43, LIAQUAT ASHRAF COLONY 1,
MEHMOODABAD GATE, KARACHI.
75 SYED ABBAS RIZVI SYED ABBAS RIZVI 42201-8799735-5 SYED NASIR ABBAS RIZVI 648 108 - 756 648 108 - 756
HOUSE NO.2, STREET NO.E, BLOCK-4, SINDHI JAMIAT
CO-OPRETIVE SOCIETY, LANDHI BIN QASIM TOWN,KARACHI.
76 MUHAMMAD HANIF MUHAMMAD HANIF 42301-0701345-3 MUHAMMAD ISMAIL 686 61 - 747 686 61 - 747
HOUSE NO. 02, HAJI PEER WALI GALI, BARA-E-IMAM,
NISHTER ROAD, KARACHI.
77 MUHAMMAD IRFAN MUHAMMAD IRFAN 35202-2344438-7 MUHAMMAD SAIEN 707 117 - 824 707 117 - 824
HOUSE # 61 STREET # 53, GHAFFAR STREET MOHALLAH
CAPTAIN JAMAL ROAD, SANDA KALAN, LAHORE.
78 KHUSHI MUHAMMAD KHUSHI MUHAMMAD 42501-1160886-7 NOOR MUHAMMAD 1,289 218 - 1,507 1,289 218 - 1,507
HOUSE NO. P-126, PUNJAB TOWN, MALIR HALT,
KARACHI.
79 RANA HABEEB ULLAH RANA HABEEB ULLAH 42401-2369912-9 RANA ATA ULLAH 507 79 - 586 507 79 - 586
HOUSE NO. B-318, GALI NO.30, BALOCH GOTH,
SHAH FAISAL MOHALLAH, SECTOR 7-F, KARACHI.
80 MUHAMMAD RIZWAN ASLAM MUHAMMAD RIZWAN ASLAM 35202-2392049-7 SHEIKH MUHAMMAD ASLAM 667 110 - 777 667 110 - 777
HOUSE # 12, STREET # 15, QILA LAKSHMAN SINGH,
RAVI ROAD, LAHORE.
81 ABDUL MAALIK ABDUL MAALIK 42301-0943202-9 MOHAMMAD SALEEM 1,044 172 - 1,216 1,044 172 - 1,216
HOUSE # 192/2, BLOCK # B, KHUDADAD COLONY,
CAMBRON EMBBSI, SHAHRAH-E-QUIADEEN, KARACHI.
82 ABDUL QADIR ABDUL QADIR 42201-0469800-7 QAZI ABDUL MALIK 860 142 - 1,002 860 142 - 1,002
HOUSE NO E/268, NATHA KHAN GOTH,
SHAH FAISAL COLONY, KARACHI.
83 JAWED AKHTAR JAWED AKHTAR 42201-3465151-3 ABDUL SATTAR 1,720 283 - 2,003 1,720 283 - 2,003
B-38/1, BLOCK # 13-C, GULSHAN-E-IQBAL,
KARACHI.
84 MALIK KARAMAT ULLAH MALIK KARAMAT ULLAH 81302-5597003-3 MALIK SHAMUS DIN 746 64 - 810 746 64 - 810
KHALIQ ABAD PO KHAS MIRPUR AK MIRPUR AK
MIRPUR.
85 ASAD ULLAH KHAN ASAD ULLAH KHAN 17301-4389448-5 FARID ULLAH KHAN 1,682 279 - 1,961 1,682 279 - 1,961
HOUSE NO. 31 A III, GULBERG-III,
LAHORE.
86 SYED MOHAMMAD OBAID ATHAR WASTI SYED MOHAMMAD OBAID ATHAR WASTI 42101-2891157-5 SYED MUHAMMAD IDRESS AKHTAR WASTI 1,349 223 - 1,572 1,349 223 - 1,572
HOUSE # R-1183, BLOCK # 9, F.B. AREA,
KARACHI.
87 MUHAMMAD NAEEM ASMAT MUHAMMAD NAEEM ASMAT 42201-1325391-3 ASMAT ULLAH 915 89 - 1,004 915 89 - 1,004
HOUSE NO. 131, STREET NO 48, SECTOR I-8/2,
ISLAMABAD.
88 MUKESH KUMAR MUKESH KUMAR 42301-0151175-3 KANAYOMAL 870 143 - 1,013 870 143 - 1,013
FLAT C-303, NAZ PLAZA, M.A. JINNAH ROAD,
KARACHI.
89 MUMTAZ AHMED MUMTAZ AHMED 35202-5112823-9 KHUSHI MUHAMMAD 662 117 - 779 662 117 - 779
HOUSE NO. 659, BLOCK-E, GULSHAN RAVI,
LAHORE.
90 ALI RAZA SHAHANI ALI RAZA SHAHANI 35202-2714529-5 GHULAM HUSSAIN KHOKHAR 890 147 - 1,037 890 147 - 1,037
83 ZENAT BLOCK, ALLAMA IQBAL TOWN,
LAHORE.
87
88
(Rupees '000')
Interest/ Other
S.No. Name & Address of borrower Name NIC No. Father’s / Husband’s Name Principal Total Total
Annexure - 1
Mark-up Others written off written off Relief
91 KHALEEL AHMED KHALEEL AHMED 31303-2452440-7 MUHAMMAD IBRAHIM 674 112 - 786 674 112 - 786
HOUSE NO. 01, SADIQ BAZAR, RAFIQUE CLOTH HOUSE,
RAHIMYAR KHAN.
92 MUSTANSAN GHIAS SADDIQI MUSTANSAN GHIAS SADDIQI 35201-4732112-7 GHAIS SIDDIQUE 688 114 - 802 688 114 - 802
HOUSE NO. 120, BLOCK-D, PUNJAB COOPERATIVE
HOUSING SOCIETY, DEFENCE, LAHORE.
93 SAIMA SAIMA 42301-0864662-6 AHMED 525 100 - 625 525 100 - 625
FLAT NO. 214, 2 FLOOR, FAIZAN HEIGHTS, KHARADAR,
MOOSALANE, KARACHI.
94 MUHAMMAD SHAMIM MUHAMMAD SHAMIM 42501-4958430-3 MUHAMMAD KABEER 522 100 - 622 522 100 - 622
FLAT NO. C-12, 3RD FLOOR, A ONE COMPLEX PHASE # 2,
MAIN ABUL HASSAN ISPHANI ROAD, GULSHAN-E-IQBAL,
KARACHI.
95 MUHAMMAD SHARJIL GOPLANI MUHAMMAD SHARJIL GOPLANI 42301-4432674-7 ABDUL SHAKOOR 1,088 145 - 1,233 1,088 145 - 1,233
HOUSE NO. 75-A/1, STREET-33, KHYABAN-E-SEHER,
PHASE-V, EXTENTION D.H.A., KARACHI.
96 ZAFAR IQBAL ZAFAR IQBAL 42201-0242921-7 MUHAMMAD IQBAL 637 105 - 742 637 105 - 742
FLAT NO. A-1/6, RUPALI RESIDENCY, BLOCK-19,
97 KHALID JAWED KHALID JAWED 42401-5786557-5 MUHAMMAD ANWAR 712 136 - 848 712 136 - 848
HOUSE NO 515, 3RD FLOOR, GALI NO 5, BLOCK-D,
SHAIR SHAH COLONY, KARACHI.
98 ASIM NAZIR GILL ASIM NAZIR GILL 35201-7719875-5 NAZIR AHMAD GILL 593 49 - 642 593 49 - 642
104-D, PUNJAB COOPERATIVE HOUSING SOCIETY,
CANTT LAHORE.
99 MUHAMMAD IRFAN MUHAMMAD IRFAN 41303-0170008-7 ABDUL RAZZAQ 1,514 722 - 2,236 1,514 722 - 2,236
HOUSE NO. F, PLOT NO. 38, SHAKHI PIR ROAD,
HYDERABAD.
100 ASIM IRSHAD ASIM IRSHAD 35404-6029816-5 MUHAMMAD IRSHAD 2,020 431 - 2,451 2,020 431 - 2,451
KASHIF PARK ST NO. 1, HOUSING COLONY,
SHEIKHUPURA.
101 JAVED HUSSAIN JAVED HUSSAIN 37401-2782569-5 SARDAR ALI 1,874 633 - 2,507 1,874 633 - 2,507
HOUSE NO. 38, QURESHIA STREET,
GUJAR KHAN.
102 ABDUL LATIF ABDUL LATIF 42501-4233635-9 YASEEN KHAN 645 106 - 751 645 106 - 751
HOUSE A/7, GULSHAN TAYYABI,
JAMA-E-MILLIA ROAD, MALIR, KARACHI.
103 FLEX POINT MUHAMMAD SALEEM 42301-3238650-9 SYED AMEER HUSSAIN 1,091 179 - 1,270 1,091 179 - 1,270
1ST FLOOR, SR 9/102, REATHA SWAMI BUILDING, SYED FAISAL AMEER 42101-5634542-7 ABDUL SATTAR
PAKISTAN CHOWK, KARACHI.
104 BABER GULZAR BUTT BABER GULZAR BUTT 42201-0291169-1 GULZAR MUHAMMAD BUTT 953 168 - 1,121 953 168 - 1,121
HOUSE NO. 388/3, LASBELLA HOUSE, GARDEN,
KARACHI.
105 JAMAL NASIR JAMAL NASIR 42101-1846738-1 KHUDA BUKSH 890 147 - 1,037 890 147 - 1,037
HOUSE C-4, BLOCK-20, RAILWAY SOCIETY,
GULISTAN-E-JOHAR, KARACHI.
106 MUNASIB KHAN MUNASIB KHAN 42501-1263522-9 BEHRAM KHAN 926 154 - 1,080 926 154 - 1,080
HOUSE NO. B-130, GULSHAN-E-RAFI,
SOCIETY JAMIA MILLIA ROAD MALIR, KARACHI.
107 MATEEN FOODS INTERNATIONAL (PVT) LTD WASIF KHAN 91506-0135669-1 MUHAMMAD MATEEN KHAN 1,189 187 - 1,376 1,189 187 - 1,376
SB-1, BLOCK-1, PAKISTAN TULIP VELLEY, MUHAMMAD MATEEN KHAN 42101-9830916-3 CHOWDHRY MUHAMMAD GULRAIZ KHAN
GULISTAN E JAUHAR, SAMINA GULRAIZ 42101-5896501-0 MOHAMMAD KHALIL KHAN
KARACHI. CHOWDHRY MUHAMMAD GULRAIZ KHAN 42101-2790791-9 CH.MOHAMMAD IBRAHIM KHAN
108 FARHAN RASHEED FARHAN RASHEED 42401-5421870-7 ABDUL RASHEED 688 113 - 801 688 113 - 801
HOUSE NO.760, SECTOR 5/J, SAEEDABAD, BALDIA TOWN,
KARACHI.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
109 SAEED AHMED SAEED AHMED 36303-1751133-3 MUHAMMAD RAFIQ 624 103 - 727 624 103 - 727
318, E BLOCK, SHAH RUKNAY ALAM COLONY,
MULTAN.
110 NAFEES UR REHMAN NAFEES UR REHMAN 42301-2227462-1 ABDUL KHALIQ 828 136 - 964 828 136 - 964
FLAT # D 1, 1ST FLOOR, PLOT # 68/9/2 B AL YOUSUF GARDEN
GHULAM HUSSAIN QASIM ROAD, GARDEN WEST, KARACHI.
111 SHEIKH ABDUL REHMAN SHEIKH ABDUL REHMAN 42301-4507311-5 SHEIKH EHSAN ELAHI 949 84 - 1,033 949 84 - 1,033
FLAT NO 25, 5TH FLOOR, HUSSANI BUILDING,
HAKKANI CHOWK, KARACHI.
112 ADNAN ATHER ADNAN ATHER 37405-9079652-3 MUHAMMAD ATHER SHAMIM 891 80 - 971 891 80 - 971
HOUSE NO CB-403, AYAN STREET, QUBA MARKET,
LANE NO 05, PESHAWAR ROAD, RAWALPINDI.
113 GHULAM MUHAMMAD MUGHAL GHULAM MUHAMMAD MUGHAL 37201-0204298-1 KHAN MUHAMMAD MUGHAL 513 68 - 581 513 68 - 581
HOUSE NO F-2/81, MOHALLAH HUSSAINI,
NEAR GHALAH MANDI CHAKWAL.
114 ISHTIAQ AHMED ISHTIAQ AHMED 81302-2693057-9 CHAUDHARY ABDUL KHALIQ 556 106 - 662 556 106 - 662
HOUSE NO 26 B, SECTOR B 4, MIRPUR AK
MIRPUR.
115 MUHAMMAD AJAZ MUHAMMAD AJAZ 35201-8851023-7 MUHAMMAD SHAREEF 609 101 - 710 609 101 - 710
PLOT NO. MIIE-A 265, 1ST FLOOR, STREET 4, TANGA STAND
BLOCK-A, URDU BAZAR, SHERSHAH, KARACHI.
116 ABDUL MAJID CHAUDRY ABDUL MAJID CHAUDRY 42201-4721695-9 ABDUL MALIK 665 59 - 724 665 59 - 724
FLAT # A-10, PLOT NO. 1-2-3, DOLMEN ARCADE,
SHAHEED-E-MILLAT BAHADURABAD, KARACHI.
117 MAKHDOOM QAISER UZ ZAMAN HASHMI MAKHDOOM QAISER UZ ZAMAN HASHMI 36103-8455109-9 MAKHDOOM FAKHAR U ZAMAN HASHMI 943 180 - 1,123 943 180 - 1,123
COLONY NO 3, HOUSE NO 1382, ST NO 11,
BLOCK-A, KHANEWAL.
118 MUHAMMAD BUX MUHAMMAD BUX 41304-9731729-9 RAHEEM BUX 601 50 - 651 601 50 - 651
FLAT # 23, SADAF PLAZA, TANDO WALI MUHAMMAD,
HYDERABAD.
119 SHEIKH MUHAMMAD KHALIQ UR REHMAN SHEIKH MUHAMMAD KHALIQ UR REHMAN 37405-2752668-9 SHEIKH MUHAMMAD HAFEEZ UR REHMAN 526 47 - 573 526 47 - 573
HOUSE M 1001 STREET 41 MOHALLAH AMER PURA,
RAWALPINDI.
120 MUHAMMAD ANWAR BAIG MUHAMMAD ANWAR BAIG 35202-3051540-1 ALI AKBAR BAIG 1,007 165 - 1,172 1,007 165 - 1,172
HOUSE NO 31, ST NO 1, MALIK PARK, KARAM NAGAR,
KHOKHAR ROAD, LAHORE.
121 AFTAB SHAFIQ AFTAB SHAFIQ 42301-1108264-1 MUHAMMAD SHAFIQ 974 48 - 1,022 974 48 - 1,022
HOUSE NO 95/2, 21 STREET, KHAYABAN-E-SEHAR,
PHASE-6, D.H.A., KARACHI.
122 NAZEER HUSSAIN NAZEER HUSSAIN 35202-6064872-3 GHULAM QADIR 1,207 197 - 1,404 1,207 197 - 1,404
HOUSE NO 25-A, BLOCK-A, AL FAISAL TOWN,
CANTT LAHORE.
123 SHAHBAZ AHMED SHAHBAZ AHMED 33100-1031798-7 GHULAM RASOOL 850 140 - 990 850 140 - 990
HOUSE # 673-E, GALI # 4, BLOCK-D, SHER SHAH STREET,
3RD FLOOR, FLAT # 5, KARACHI.
124 MUDASSAR MALIK MUDASSAR MALIK 35202-1432544-3 MALIK MUZAFFAR 621 102 - 723 621 102 - 723
HOUSE NO 76, STREET NO 76, NATIONAL TOWN,
SANDA ROAD, LAHORE.
125 CHOUDHRY SHABIR AHMED CHOUDHRY SHABIR AHMED 61101-2925307-5 WADI HUSSIAN 1,418 250 - 1,668 1,418 250 - 1,668
BANGREEL KHURD PO RAWAT,
ISLAMABAD.
126 MALIK TASHIF YOUSAF MALIK TASHIF YOUSAF 34603-2824318-7 MALIK MUHAMMAD YOUSAF KHAN 770 121 - 891 770 121 - 891
PUL AIK HABIB PURA PASRUR ROAD C/O MUHAMMAD
SALEEM MIR TIMBER MARKET, SIALKOT.
89
90
(Rupees '000')
Interest/ Other
Annexure - 1
127 ZAHEER UL HASSAN ANSARI ZAHEER UL HASSAN ANSARI 42201-0692690-1 ZAMEER-UL-HASSAN ANSARI 828 136 - 964 828 136 - 964
D-22, BLOCK-3, CLIFTON BEHIND BILAWAL HOUSE,
CLIFTON, KARACHI."
128 ALTAF HUSSAIN ALTAF HUSSAIN 35201-1690262-7 GHULAM HUSSAIN 805 131 - 936 805 131 - 936
HOUSE NO. P-41, STREET-3, BLOCK-N,
NORTH NAZIMABAD, KARACHI.
129 AKRAM QURESHI AKRAM QURESHI 42101-6064246-3 ISLAM UDDIN 650 64 - 714 650 64 - 714
HOUSE L-1062, SECTOR 5 B 2, NORTH KARACHI,
KARACHI.
130 RANA MOHAMMAD BABER RANA MOHAMMAD BABER 42201-5312829-7 RANA MUHAMMAD NASEER 697 123 - 820 697 123 - 820
HOUSE NO 25 A, STREET 17, AREA C, QAYUMABAD,
KARACHI.
131 SYED SIBTE HASSAN NAQVI SYED SIBTE HASSAN NAQVI 42101-1615425-1 SYED AZIZ AHMAD NAQVI 938 165 - 1,103 938 165 - 1,103
H NO A-9, RUFI GREEN LAND SECTOR 13-A,
GULZAR-E-HIJRI, KARACHI.
132 ISLAM UD DIN ISLAM UD DIN 42301-9220125-5 MERAJ UDDIN 572 92 - 664 572 92 - 664
FLAT NO 302, 3RD FLOOR, SUMAIYA AMARA BUILDING,
SULEMAN STREET, SHOE MARKET, KARACHI.
133 MUDASSIR HUSSAIN MUDASSIR HUSSAIN 42201-2276812-5 MUZAMMIL MIAN 660 109 - 769 660 109 - 769
FLAT NO C-30, PARADISE SQUARE, PLOT NO 5 S NO 205
BLOCK 13/E, GULSHAN-E-IQBAL, KARACHI.
134 HAQ NAWAZ HAQ NAWAZ 32103-0269748-1 MUHAMMAD KHAN 637 105 - 742 637 105 - 742
HOUSE NO 76, STREET NO 15, CHUDHARY PARK,
RASHID ROAD, BILAL GUNJ, LAHORE.
135 MUHAMMAD YOUNUS KARAR MUHAMMAD YOUNUS KARAR 42201-2749316-3 TAYYAB KARAR 924 185 - 1,109 924 185 - 1,109
HOUSE NO. R-172, BLOCK-11, GULSHAN-E-IQBAL,
KARACHI.
136 MUHAMMAD IMRAN MUHAMMAD IMRAN 35302-1875428-3 TAJ UDDIN 660 109 - 769 660 109 - 769
HOUSE NO A-116, SECTOR 11-A, NORTH KARACHI,
KARACHI.
137 MUHAMMAD ASLAM MUHAMMAD ASLAM 35202-1285025-1 MUHAMMAD SULTAN 851 71 - 922 851 71 - 922
H # 141-D, MOHALLA NAWAB TOWN 1 KM RAIWIND
ROAD, LAHORE.
138 ABDUL WAHEED ABDUL WAHEED 42301-9751257-7 RASHEED AHMED 1,258 207 - 1,465 1,258 207 - 1,465
HOUSE NO 1607, STREET NO 26, AZAM BASTI,
KARACHI.
139 MUHAMMAD ARSHAD MUHAMMAD ARSHAD 33100-3374986-1 HAJI RANJHA 546 90 - 636 546 90 - 636
HOUSE # 22 STREET # 2 AKBAR ABAD,
FAISALABAD.
140 MUHAMMAD AMJAD MUHAMMAD AMJAD 35202-5091579-3 ABDUL RASHEED 660 109 - 769 660 109 - 769
HOUSE NO 286 D, MOHALLAH GULSHAN RAVI,
GULSHAN RAVI, LAHORE.
141 ABDUL JABBAR ABDUL JABBAR 42101-1433194-3 ABDUL SATTAR 1,720 283 - 2,003 1,720 283 - 2,003
HOUSE L-717, SECTOR 5C2, NORTH KARACHI,
KARACHI.
142 MUHAMMAD JAMAL MUHAMMAD JAMAL 42201-5341639-5 BASHIR AHMED 1,207 197 - 1,404 1,207 197 - 1,404
HOUSE NO. B-3 LANE NO G-23, BLOCK-05,
CLIFTON, KARACHI.
143 MUHAMMAD RIAZ MALIK MUHAMMAD RIAZ MALIK 35200-1557583-1 ALLAH BUKH 1,901 316 - 2,217 1,901 316 - 2,217
CHAUDHARY QAYYAUM HOUSE STREET AMBALA SWEETS,
SANDA ROAD, LAHORE.
144 MOIN SHIWANI MOIN SHIWANI 42301-5979311-3 ABDUL KARIM SHIWANI 1,376 228 - 1,604 1,376 228 - 1,604
FLAT NO F-07, ROCK HEAVEN APPARTMENT BLOCK-8,
CLIFTON, KARACHI.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
145 MUHAMMAD JAWED MUHAMMAD JAWED 42201-7063195-5 ABDUL GHAFFAR 1,376 228 - 1,604 1,376 228 - 1,604
FLAT NO B 10, 5TH FLOOR, PRINCE HOMES,
146 SYED SHAHID NAYYER SYED SHAHID NAYYER 42101-7773135-5 SYED NAYYER RAZA 509 75 - 584 509 75 - 584
HOUSE NO B-33, BLOCK-I, NORTH NAZIMABAD,
KARACHI.
147 ASLAM PERVAIZ ASLAM PERVAIZ 42201-8794775-3 ADDUL QUDDUS 944 84 - 1,028 944 84 - 1,028
HOUSE NO 103 PARDESI PALACE JAMSHED ROAD NO 3,
KARACHI.
148 ABDUL RASHID ABDUL RASHID 42101-7986470-7 ABDUL WAHID 921 162 - 1,083 921 162 - 1,083
HOUSE # 9/8, MASJID QUAT UL ISLAM COLONY,
LIAQUATABAD, KARACHI.
149 MUHAMMAD KASHIF PASHA MUHAMMAD KASHIF PASHA 42201-0722699-7 MUHAMMAD ANWAR PASHA 930 163 - 1,093 930 163 - 1,093
HOUSE # A-98, BLOCK 13-B, RAILWAY HOUSING SOCIETY,
150 ALI ASGHAR KHAN ALI ASGHAR KHAN 35201-1340687-7 MUAMBER KHAN 890 147 - 1,037 890 147 - 1,037
HOUSE 312, MAI PATHANI HOTEL STREET STREET 1,
QURBAN LINE, GULBERG, LAHORE.
151 MUNAWAR HUSSAIN MUNAWAR HUSSAIN 42201-7793132-3 ATHER HUSSAIN 653 108 - 761 653 108 - 761
HOUSE NO. R-13, BLOCK-11, GULSHAN-E- IQBAL,
KARACHI.
152 TARIQ MEHMOOD TARIQ MEHMOOD 31303-7342442-5 SALAMAT ALI 597 53 - 650 597 53 - 650
HOUSE NO 17-D, STREET NO 02, Z BLOCK,
GULSHAN E USMAN, RAHIMYAR KHAN.
153 ABDUL HAMEED ABDUL HAMEED 37201-1595130-9 GHULAM JELANI 520 69 - 589 520 69 - 589
HOUSE MADINA TOWN MASOOD ABAD,
BHOUN ROAD, CHAKWAL.
154 SHAHID HAROON QURESHI SHAHID HAROON QURESHI 37201-7840596-1 SHEIKH SHARIF HUSSAIN 603 99 - 702 603 99 - 702
HOUSE NUMBER MCB-1/1013, CHISTIAN DHOKOO ROAD,
CHAKWAL.
155 SARWAR ALI SARWAR ALI 42301-0716384-5 MUHAMMAD SIDDIQUE 678 67 - 745 678 67 - 745
HOUSE NO 212, 2 FLOOR, STREET NO 4, SECTOR-D,
AKHTER COLONY, KARACHI.
156 MUHAMMAD JAVED RAO MUHAMMAD JAVED RAO 36103-4119478-3 RAO MUHAMMAD SARWAR KHAN 805 146 - 951 805 146 - 951
PEOPLES COLONY, HOUSE NO 1-3, STREET NO 4,
BLOCK-W, KHANEWAL.
157 SHAHID HASSAN SHAHID HASSAN 37405-9875511-3 DILBER HASSAN 680 766 - 1,446 680 766 - 1,446
HOUSE NO 93, BLOCK-B, SATELLITE TOWN,
RAWALPINDI.
158 MUHAMMAD HAFIZ UR REHMAN MUHAMMAD HAFIZ UR REHMAN 36302-1533429-9 ZIA UR REHMAN 567 47 - 614 567 47 - 614
473 MUHALLAH WALLAYATABAD COLONY NO 2,
MULTAN.
159 AMIR AZIZ AMIR AZIZ 42201-1560426-5 ABDUL AZIZ 1,109 109 - 1,218 1,109 109 - 1,218
MUSTAFA TAIRAS, FLAT NO 201-202,
MAIN BAHADURABAD CHOWRANGI, KARACHI.
160 SYED MASHKOOR AHMED JILANI SYED MASHKOOR AHMED JILANI 42101-5980079-7 SYED MAHBOOB AHMED JILANI 645 106 - 751 645 106 - 751
HOUSE NO A-112, BLOCK-N, NORTH NAZIMABAD,
KARACHI.
161 MUHAMMAD SALEEM MUHAMMAD SALEEM 42201-0508273-1 HAJI WALI MUHAMMAD 555 29 - 584 555 29 - 584
HOUSE NO. A-42,43, SHEET-25,
MODEL COLONY, KARACHI.
162 MUHAMMAD ASGHAR MUHAMMAD ASGHAR 33203-1418102-7 SANA ULLAH 604 53 - 657 604 53 - 657
15-P, P BLOCK, GREEN TOWN,
FAISALABAD.
91
92
(Rupees '000')
Interest/ Other
Annexure - 1
163 MUHAMMAD HAJI MUHAMMAD HAJI 42401-5540380-1 YOUSUF 860 142 - 1,002 860 142 - 1,002
HOUSE NO. 1728/341, KS MUJAHID ROAD,
JUNA GARH MUHALA, BALIDIA TOWN, KARACHI.
164 MUHAMMAD SAGHIR AHMED MUHAMMAD SAGHIR AHMED 42401-8080664-7 MUHAMMAD RABAN 1,678 275 - 1,953 1,678 275 - 1,953
HOUSE # 739, STREET-32, SAEEDABAD, BALDIA TOWN,
UC-5, KARACHI.
165 MATI UR REHMAN MATI UR REHMAN 61101-1989406-9 MURID UL HAQ 1,248 109 - 1,357 1,248 109 - 1,357
HOUSE NO. 46-B, STREET NO. 23,
G-6/2, ISLAMABAD.
166 MUHAMMAD AQEEL MUHAMMAD AQEEL 42201-7632471-7 MUHAMMAD NAQI 681 113 - 794 681 113 - 794
HOUSE NO 1/623, SHAH FAISAL COLONY,
KARACHI.
167 SHEIKH MUHAMMAD ASHRAF SHEIKH MUHAMMAD ASHRAF 36302-0264230-7 SHEIKH MUHAMMAD GHAFOR 1,007 165 - 1,172 1,007 165 - 1,172
HOUSE NO 2353/9, MUHALA SULTANI,
NEAR CHOK GHANTA GHAR, MULTAN.
168 AQEEL AHMED AQEEL AHMED 42201-6326907-7 ATI ULLAH 621 102 - 723 621 102 - 723
HOUSE NO R-598, SECTOR NO 1-A, JACOB LINE,
KARACHI.
169 KHALID KHAN KHALID KHAN 42201-8577623-9 ZAMEER ULLAH KHAN 1,225 200 - 1,425 1,225 200 - 1,425
HOUSE NO D-11, GULISTAN-E-RAFI, MALIR,
KARACHI.
170 NADEEM KHAN NADEEM KHAN 32203-2794891-9 DARWASH KHAN 890 147 - 1,037 890 147 - 1,037
HOUSE # 02, STREET # 03, HASHTAM COLONY,
CHIRA ROAD, SADIQABAD, RAWALPINDI.
171 MOHAMMED AMEEN KHAN MOHAMMED AMEEN KHAN 42101-8467837-9 ABDUL SHAKOOR 616 102 - 718 616 102 - 718
HOUSE NO 269, SECTOR D, BHITTAI COLONY,
KORANGI CROSSING, KARACHI.
172 MUHAMMAD SHAKEEL MUHAMMAD SHAKEEL 42401-6255346-7 MUHAMMAD ISMAIL MALIK 621 102 - 723 621 102 - 723
HOUSE # 80, F BLOCK, NAVEL COLONY,
HAWKSBAY ROAD, MARI POOR, KARACHI.
173 DENZIL AYAN DENZIL AYAN 41304-1158729-9 JAMES 562 95 - 657 562 95 - 657
FLAT NO.513, REHMAN PLAZA, GARDEN EAST,
KARACHI.
174 ZAHOOR ELAHI PIRACHA ZAHOOR ELAHI PIRACHA 35201-8450517-9 MEHBOOB ELAHI PIRACHA 805 131 - 936 805 131 - 936
HOUSE # 141 D NEW SAMANABAD,
LAHORE.
175 MUHAMMAD HUSSAIN MIRZA MUHAMMAD HUSSAIN MIRZA 42201-0722927-7 ASAD ALI MIRZA 557 40 - 597 557 40 - 597
HOUSE NO B 120, BLOCK-13, GULISTAN-E-JAUHAR,
KARACHI.
176 HAYAT MUHAMMAD HAYAT MUHAMMAD 42201-0500212-7 MUHAMMAD QASIM ANSARI 630 55 - 685 630 55 - 685
HOUSE # K-512, 1ST FLOOR, SECTOR-35/B,
KORANGI NO.5, KARACHI.
177 TAJ UL WAQAR TAJ UL WAQAR 42101-7841648-1 TAJ UL IBRAR 989 164 - 1,153 989 164 - 1,153
HOUSE R 395, SECTOR-7, D-2 NORTH KARACHI,
KARACHI.
178 MUHAMMAD KAMRAN MUHAMMAD KAMRAN 16101-6418088-9 HAJI ABDUL RAHIM 792 28 - 820 792 28 - 820
House NO.221, STREET NO.5 01 SHEIKH MALTOON TOWN,
MARDAN.
179 RAJA SHAHID KHURSHEED RAJA SHAHID KHURSHEED 37405-9826561-7 RAJA KHURSHEED AKHTER 887 78 - 965 887 78 - 965
HOUSE NO 612-A, STREET NO 8, AFSHAN COLONY,
RAWALPINDI.
180 MUHAMMAD MOHSIN MUHAMMAD MOHSIN 35202-6274307-1 MUHAMMAD AMIN 913 160 - 1,073 913 160 - 1,073
HOUSE 2/A, STREET 109, ISLAM PURA,
LAHORE.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
181 MEHMOOB ALI MEHMOOB ALI 17301-5361253-1 BARKAT ALI 594 21 - 615 594 21 - 615
HOUSE IN QURESHI STREET, GULBARG # 01, PESHAWAR
PESHAWAR.
182 RIZWAN AZHAR RIZWAN AZHAR 35202-2552005-1 SHEIKH AZHAR HUSSAIN 1,137 168 - 1,305 1,137 168 - 1,305
232 BI JOHAR TOWN LAHORE,
LAHORE.
183 SHEIKH SHAKEEL AKHTAR SHEIKH SHAKEEL AKHTAR 34104-2323501-1 SHEIKH MANZOOR AHMED 816 134 - 950 816 134 - 950
MODEL COLONY, WAZIRABAD
WAZIRABAD.
184 MUHAMMAD ABDUL KAREEM MUHAMMAD ABDUL KAREEM 42201-4765314-3 ZAHOOR KHALDI 805 131 - 936 805 131 - 936
HOUSE NO, 655, C 1 AREA LANDHI,
KARACHI.
185 SHAMSHAD AHMED AKHTAR SHAMSHAD AHMED AKHTAR 36601-5689269-1 SHAHBUDD DIN 510 73 - 583 510 73 - 583
K T NO 694, STATION CHOWK, TOBA ROAD,
NEAR CITY SCHOOL, JHANG SADAR, JHANG.
186 SULEMAN ZAFAR SULEMAN ZAFAR 42301-4794170-1 MUHAMMAD ZAFAR IQBAL 934 155 - 1,089 934 155 - 1,089
HOUSE NO X-12, 19 EAST STREET, DEFENCE PHASE-1,
KARACHI.
187 SHEHZAD RASHEED TAREEN SHEHZAD RASHEED TAREEN 54400-3519472-3 ABDUL RASHEED 860 142 - 1,002 860 142 - 1,002
HOUSE NO 84-C, STREET NO 17, KHAYABAN E SEHAR,
188 NADEEM ABBAS NADEEM ABBAS 42201-6213628-9 MUHAMMAD SALEEM 629 103 - 732 629 103 - 732
HOUSE 78, SECTOR 32/C, KORANGI 1 1/2,
KARACHI.
189 MUHAMMAD AKRAM KHAN MUHAMMAD AKRAM KHAN 42201-0430937-1 MANZOOR AHMED KHAN 658 58 - 716 658 58 - 716
HOUSE # E-315-316, SECTOR-E, STREET # 4,
190 SHAFQUAT ULLAH SHAFQUAT ULLAH 42301-2112111-9 ZAFAR ULLAH 870 143 - 1,013 870 143 - 1,013
HOUSE NO 51/3/1, DAWOODIA COMPOUND, GHULAM
HUSSAIN QASIM ROAD, GARDEN WEST, KARACHI.
191 MUHAMMAD USMAN MUHAMMAD USMAN 42301-0892683-5 MOHAMMAD HASHIM 690 131 - 821 690 131 - 821
FLAT NO. B-101, 1ST FLOOR, NASHEMAN ARCADE,
PLOT NO 714/4, JAMSHED ROAD NO. 3, KARACHI.
192 MUHAMMAD MADNI MUHAMMAD MADNI 31202-3501430-3 SOFI MUHAMMAD RAMZAN 601 53 - 654 601 53 - 654
HOUSE NO BVI 1621, CHOWK SHADRA,
BAHAWALPUR.
193 MUHAMMAD ZULFIQAR MUHAMMAD ZULFIQAR 42101-8723982-3 MOHAMMAD ISHAQ 671 127 - 798 671 127 - 798
FLAT NO 1641, 1ST FLOOR, BISMILLAH TERRACE,
NAZIMABAD # NO: 2, KARACHI.
194 NOMAN ABDUL RAUF NOMAN ABDUL RAUF 42301-3275034-9 ABDUL RAUF AWAN 626 58 - 684 626 58 - 684
HOUSE NO A/566, MASOOM SHAH COLONY,
MEHMOODABAD, KARACHI.
195 MUNIR AHMED MUNIR AHMED 37101-1677189-1 GHULAM MUSTAFA 629 103 - 732 629 103 - 732
GALLI / MOHALLAH EID GAH, SHAKARDARAH,
ATTOCK.
196 JAVED IQBAL JAVED IQBAL 31303-1422372-5 MUHAMMAD IQBAL 566 92 - 658 566 92 - 658
HOUSE NO 100-BI, UMER BLOCK, ABBASIA TOWN,
RAHIMYAR KHAN.
197 AMJAD ALI AMJAD ALI 36302-5609756-9 JAMAT ALI 549 49 - 598 549 49 - 598
SAMIJA BAD NO 1 MUHALLA SAHREEF PURA MULTAN
MULTAN.
198 ABDUL HAFEEZ ATHER ABDUL HAFEEZ ATHER 34603-2256002-7 CHAUDHARY FATEH 683 86 - 769 683 86 - 769
HOUSE NO 30/376, SHAH SYEDAN CHURCH ROAD MUHAMMAD
NEAR GOVT SARDAR BEGUM HOSPITAL, SIALKOT.
93
94
(Rupees '000')
Interest/ Other
Annexure - 1
199 MEHDI RAZA MEHDI RAZA 35202-3044887-3 MUHAMMAD YASEEN 1,121 175 - 1,296 1,121 175 - 1,296
HOUSE NO 17, COLLEGE BLOCK, ALLAMA IQBAL TOWN,
LAHORE.
200 MUHAMMAD ARSHAD NADEEM MUHAMMAD ARSHAD NADEEM 36103-1589886-1 MUHAMMAD SADIQ 1,020 167 - 1,187 1,020 167 - 1,187
HOUSE 157, AL-HAMD GARDENS EST 2,
NEAR SAGIAN PULL, SHAHDARA, LAHORE.
201 MAZHAR MEHMOOD MAZHAR MEHMOOD 42101-6331005-3 SH RASOOL MEHMOODI 1,656 271 - 1,927 1,656 271 - 1,927
HOUSE # B-194, BLOCK-6, GULSHAN-E-IQBAL,
KARACHI.
202 MUHAMMAD IRFAN MUHAMMAD IRFAN 42101-9055092-9 MUKHTAR AHMED 653 108 - 761 653 108 - 761
HOUSE R-375, SECTOR 14-B, SHADMAN TOWN,
NORTH KARACHI, KARACHI.
203 KANWAR ABID MAJEED KANWAR ABID MAJEED 42201-8485110-3 KANWAR ABDUL MAJEED 626 100 - 726 626 100 - 726
A-205/8, BLOCK 13-D/3, GULSHAN-E-IQBAL,
KARACHI.
204 SYED MUHAMMAD RAZI SYED MUHAMMAD RAZI 42101-9701338-1 SYED MUHAMMAD SAEED 839 138 - 977 839 138 - 977
HOUSE NO B-1, BLOCK-T, NORTH NAZIMABAD,
KARACHI.
205 SHAFIQ UR REHMAN KHAN SHAFIQ UR REHMAN KHAN 42201-6157756-3 ABDUL REHMAN KHAN 890 147 - 1,037 890 147 - 1,037
FLAT -A-5, PLOT-3, AL HAYAT SQUARE, AL HILAL
COOPERATIVE HOUSING SOCIETY GULSHAN-E-IQBAL,
KARACHI.
206 MUHAMMAD FAHIM MUHAMMAD FAHIM 36302-0213880-7 MALIK HAYAT ULLAH 793 129 - 922 793 129 - 922
SABZI MANDI ROAD, HOUSE NO 3707/1,
MUHALLA HASSAN PARWANA COLONY, MULTAN.
207 MOIZ MOIZ 42301-3616434-9 ABBAS BHAI 576 94 - 670 576 94 - 670
FLAT NO. 102,103, SAMAR CLASSICS, M.A. JINNAH ROAD,
208 ARIF MEHMOOD ARIF MEHMOOD 42101-7638393-5 MEHMOOD HASAN 580 50 - 630 580 50 - 630
HOUSE L-73, SECTOR 11/C-1, SIR SYED TOWN,
209 MUHAMMAD TASLEEM QAMER MUHAMMAD TASLEEM QAMER 36302-5540975-1 MEHARBAN QAMER 600 53 - 653 600 53 - 653
GALI BALDOZER WALI, MASOOM SHAH ROAD, ST NO 1,
MUHALA WRITERS COLONY, MULTAN.
210 MUHAMMAD FARID AWAN MUHAMMAD FARID AWAN 13101-0903290-7 ATTA MUHAMMAD AWAN 554 99 - 653 554 99 - 653
BEARR PO BOX, PUBLIC SCHOOL,
ABBOTABAD.
211 SYED IFTIKHAR HUSSAIN JAFEERY SYED IFTIKHAR HUSSAIN JAFEERY 42201-7905337-1 SYED MAZHAR HUSSAIN JAFFERY 677 129 - 806 677 129 - 806
HOUSE B-507, B-AREA, MALIR TOWN,
KARACHI.
212 MOAZZAM ALI MOAZZAM ALI 38403-9755919-9 MIAN ZAHOOR AHMAD 519 84 - 603 519 84 - 603
HOUSE NO.261, BLOCK-A, SATELLITE TOWN,
SARGODHA.
213 HABIB UR REHMAN QUERSHI HABIB UR REHMAN QUERSHI 35202-0145432-1 ABDUL GHAFOOR QURESHI 648 57 - 705 648 57 - 705
MUMTAZ STREET, HOUSE NO 18-B, MOHALLAH
HABIB ULLAH RAOD, GHARI SHAHU, LAHORE.
214 SHAHZAD ALI SHAHZAD ALI 33100-0794405-3 SUBHAN ALI 606 54 - 660 606 54 - 660
P-3374, MOH. MANSOORABAD,
NEAR AL-MAKKAH GENERAL STORE, FAISALABAD.
215 MUHAMMAD RAFEY MUHAMMAD RAFEY 42000-6860181-5 JAMEEL UR REHMAN 503 44 - 547 503 44 - 547
HOUSE NO. B-81, KHAYABAN-E-BADAR, 21ST STREET,
216 MUHAMMAD RAZA MUHAMMAD RAZA 42201-0773264-3 BARKAT ALI 606 98 - 704 606 98 - 704
FLAT NO B-4, 2ND FLOOR, AMAN HEIGHTS, PATEL PARA,
KARACHI.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
217 SALEEM ALI SALEEM ALI 42301-0891930-5 JUMMA SALAH MUHAMMAD 877 143 - 1,020 877 143 - 1,020
FLAT NO 4, ALI ASGHER HOUSE, 2ND FLOOR,
218 MANZOOR AHMED AWAN MANZOOR AHMED AWAN 38403-5864814-3 BADAR UD DIN 816 132 - 948 816 132 - 948
HOUSE NO 270, STREET NO. 24, GULZAR-E-QUAID,
RAWALPINDI.
219 MUHAMMAD JAMIL KHAN MUHAMMAD JAMIL KHAN 37405-0640712-1 MUNSHI KHAN 870 143 - 1,013 870 143 - 1,013
HOUSE 98-A, RAHAT COLONY, KAMALABAD,
RAWALPINDI.
220 RAVI PLASTIC INDUSTRIES (PVT) LTD KHALEEQ UR REHMAN / 35202-9256360-1 MUHAMMAD RAFIQ QURESHI 510 73 - 583 510 73 - 583
PLOT NO. 1174-1175, USMAN STREET, ATIQ UR REHMAN / 35202-0196327-7
NEAR BABA RAFAI DARBAR, OPPOSITE CHOHAN ROAD, SHAFIQUE UR REHMAN 35202-5624983-5
STOP BUND ROAD, LAHORE.
221 MUHAMMAD IMRAN SHAIKH MUHAMMAD IMRAN SHAIKH 41303-1197998-1 MUHAMMAD AHSAN SHAIKH 799 68 - 867 799 68 - 867
HOUSE NO A/116-34-197, HIRABAD,
HYDERABAD.
222 NAZEER AHMAD NAZEER AHMAD 36302-6188593-3 KABIR KHAN 610 56 - 666 610 56 - 666
HOUSE NO. 09, NEAR IQBAL COLLEGE,
SHAMSHABAD COLONY, MULTAN.
223 MUHAMMAD YOUSUF MUHAMMAD YOUSUF 42201-8450371-9 JALAL UDDIN 631 56 - 687 631 56 - 687
HOUSE NO. A-21, MADINA COLONY, 13-D,
224 MUHAMMAD ASLAM AWAIS MUHAMMAD ASLAM AWAIS 35201-1374578-5 MUHAMMAD BASHIR 629 49 - 678 629 49 - 678
255-B, SHALIMAR HOUSING SCHEME, BAGHBAN PURA,
LAHORE.
225 MOHAMMAD ASLAM MOHAMMAD ASLAM 42101-8817989-1 MOHAMMAD YAR 561 107 - 668 561 107 - 668
HOUSE NO. 86/10, ORANGABAD, CHOOTA MEADAN,
NAZIMABAD NO.3, KARACHI.
226 MUBEEN AHMED QURESHI MUBEEN AHMED QURESHI 42201-0549702-3 SHAMIM AHMED QURESHI 603 99 - 702 603 99 - 702
HOUSE # E/30, AREA-E, KORANGI # 5 3/4 (PONAY CHAY),
KARACHI.
227 FAISAL SOHAIL FAISAL SOHAIL 42101-1602839-5 MUHAMMAD ASLAM 623 118 - 741 623 118 - 741
HOUSE NO. R-301, SECTOR NO. 14/B, SHADMAN TOWN,
228 MUHAMMAD ATHAR LODHI MUHAMMAD ATHAR LODHI 31202-8606179-7 ABDUL GHAFFAR 720 62 - 782 720 62 - 782
HOUSE NO. 17-D, OFFICER COLONY,
BAHAWALPUR.
229 SYED ZULFIQAR HAIDER NAQVI SYED ZULFIQAR HAIDER NAQVI 42101-1895817-9 SYED ALI MUKHTAR NAQVI 805 131 - 936 805 131 - 936
HOUSE NO. R-633, SECTOR 11-C/1, NORTH KARACHI,
KARACHI.
230 ALTAF HUSSAIN ALTAF HUSSAIN 42401-0976141-9 GUL HASSAN 1,609 263 - 1,872 1,609 263 - 1,872
HOUSE # M-2EB 15/18 A, SINDH MAHAL STREET # 29,
BLOCK-B, AKBER ROAD, SHER SHAH, KARACHI.
231 SHAHID BASHIR SHAHID BASHIR 42301-8448099-1 SHEIKH BASHIR 1,050 162 - 1,212 1,050 162 - 1,212
HOUSE NO. 113-C, KHAYABAN-E-BAHRIA, PHASE-VII,
DEFENCE, KARACHI.
232 MUHAMMAD FAROOQ MUHAMMAD FAROOQ 42301-2012152-9 ABDUL SATAAR 601 93 - 694 601 93 - 694
FLAT NO. 2-A, 2ND FLOOR, WAHEED CENTRE,
URDU BAZAR, KARACHI.
233 FAISAL MUHAMMAD IBRAHIM FAISAL MUHAMMAD IBRAHIM 42000-0557548-7 MUHAMMAD IBRAHIM 1,189 194 - 1,383 1,189 194 - 1,383
FLAT NO. 21, BLOCK-B, 6TH FLOOR, GIZRA ARCADE,
GARDEN WEST, KARACHI.
234 TARIQ ISHTIAQ KHAN TARIQ ISHTIAQ KHAN 42201-3457198-1 ISHTIAQ RASOOL KHAN 904 155 - 1,059 904 155 - 1,059
HOUSE NO. B-52, BANGLOW TOWN,
KARACHI.
95
96
(Rupees '000')
Interest/ Other
Annexure - 1
235 MOHAMMAD KHURRAM MOHAMMAD KHURRAM 35202-2835081-9 MUHAMMAD RAFI 875 663 - 1,538 875 663 - 1,538
32 H-2, JOHAR TOWN, NEAR STAR BAKERS AND SWEETS,
JOHAR TOWN, LAHORE.
236 NADEEM YASEEN SHANAWAR NADEEM YASEEN SHANAWAR 35102-5630501-7 MUHAMMAD YASEEN 744 1,376 - 2,120 744 1,376 - 2,120
HOUSE NO. 19 S 93 STREET MIAN SKENDAR
MAIN BAZAR ROAD, KOT KASUR, KASUR.
237 NASIR ALI NASIR ALI 36302-0286605-9 BAGH ALI 509 40 - 549 509 40 - 549
HOUSE # 35 T BLOCK ST # C, NEW MULTAN,
MULTAN.
238 MUHAMMAD YOUSUF MUHAMMAD YOUSUF 42501-5145261-1 GHULAM RASOOL 594 97 - 691 594 97 - 691
HOUSE A-28, GULISTAN SOCIETY,
KARACHI.
239 MUHAMMAD SALEEM MUHAMMAD SALEEM 42101-1826752-5 MUHAMMAD ASHRAF 535 86 - 621 535 86 - 621
HOUSE NO. 1384/B MOHALLAH 5 NISHTER COLONY,
GULBAHAR NAZIMABAD, KARACHI.
240 ALI HASSAN ALI HASSAN 42201-0452201-9 LAL MUHAMMAD 1,018 164 - 1,182 1,018 164 - 1,182
PLOT # 449, 1ST FLOOR, SECTOR 51-B, KORANGI # 6,
KARACHI.
241 MUHAMMAD RAMZAN MUHAMMAD RAMZAN 34501-1058929-1 NAZEER AHMED 905 80 - 985 905 80 - 985
HOUSE NO. MIIE-A/831, STREET-37, JINNAH ROAD,
BLOCK-C, SHER SHAH, KARACHI.
242 MUHAMMAD ASHRAF MUHAMMAD ASHRAF 42201-1604084-7 SALEH MUHAMMAD 1,035 170 - 1,205 1,035 170 - 1,205
A-502, PANAMA CENTRE, BLOCK 13-D,
243 AHSAN ULLAH SALEEMI AHSAN ULLAH SALEEMI 42301-0300274-1 BASHIR AHMED 509 82 - 591 509 82 - 591
HOUSE # 530, SECTOR-C, STREET # 8, REHMAN COLONY,
KARACHI.
244 MUHAMMAD TAHIR MUHAMMAD TAHIR 42201-8096499-1 IBRAHIM 653 108 - 761 653 108 - 761
FLAT NO. C-402, CRESCENT VIEW, BLOCK-13,
245 MUHAMMAD JAMAL MUHAMMAD JAMAL 42201-6545062-3 LATIF UR REHMAN 736 956 - 1,692 736 956 - 1,692
REHMAN BUILDING, FLAT NO. LSB-6, STREET NO. 4,
BLOCK-10, GULSHAN-E-IQBAL, KARACHI.
246 SHEIKH MUHAMMAD ANWER SHEIKH MUHAMMAD ANWER 37401-1503210-5 SHEIKH ABDUL MAJEED 646 658 - 1,304 646 658 - 1,304
HOUSE NO 230, AMEER BAZ,
OPOSITE MUHAMMADI MOSQUE, GUJAR KHAN.
247 MUJEEB UNNISA MUJEEB UNNISA 42401-7252719-0 MUHAMMAD SALEEM 528 654 - 1,182 528 654 - 1,182
FLAT NO B-17, BLOCK-J, TAQI CENTER ,
NORTHNAZIMABAD, KARACHI.
248 MUHAMMAD YAMEEN MUHAMMAD YAMEEN 42301-2109142-7 NASEER AHMED 976 569 - 1,545 976 569 - 1,545
FLAT NO.5, GHOSIA CENTRE, GIZRI,
KARACHI.
249 WAQAR AHMED WAQAR AHMED 42401-3734675-3 ASHRAF KHAN 768 490 - 1,258 768 490 - 1,258
HOUSE NO. KMC-537-A, SECTOR 14/E, AKBAR SHAHEED
CHOWK, ORANGI TOWN, KARACHI.
250 CHAUDHRY SAIF ULLAH CHAUDHRY SAIF ULLAH 37405-2728189-7 CHAUDHRY MUHAMMAD 696 330 - 1,026 696 330 - 1,026
HOUSE NO. 5, HAQ LANE MUHALLA NEW LALA ZAR, SIDDIQUE
ADYALA ROAD, RAWALPINDI.
251 ALI TRADERS (PROP.IMMAD ZAFAR) IMMAD ZAFAR 34101-2528289-7 MUHAMMAD ANWAR 2,098 396 - 2,494 2,098 396 - 2,494
GHALLA MANDI GHAKKAR MANDI,
GUJRANWALA.
252 FEROZ KHAN FEROZ KHAN 35202-1141339-7 JUMA KHAN 654 647 - 1,301 654 647 - 1,301
HOUSE # 104, SECTOR 131, TOWNSHIP,
LAHORE.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
253 M/S PAK MOTORS & RENT A CAR MUHAMMAD NADEEM AHMED BUTT 34603-2172177-9 MUHAMMAD SHARIF 1,080 320 - 1,400 1,080 180 - 1,260
2 ALLAMA IQBAL CHOWK, SIALKOT,
PUNJAB.
254 FUEL POWER CNG MUHAMMAD SAQIB 37405-3400269-9 JAMIL UR REHMAN 935 26 - 961 935 - - 935
ASGHAR MALL ROAD, NEAR NAZ CINEMA,
RAWALPINDI.
255 ARIF ARIF 15602-1186379-1 SHAUKAT ALI 550 210 - 760 550 210 - 760
MOHALLA, LANDAYKAS, MINGORA, TEHSIL/DISTT SWAT,
N.W.F.P.
256 AZMAT BHATTI (DECEASED) AZMAT BHATTI 422016-810220-3 BASHIR AHMED BHATTI 573 - - 573 573 - - 573
25/B, SHAD BAGH HOUSING SOCIETY, MALIR HALT,
KARACHI.
257 KHAWAJA TARIQ FAROOQ (DECEASED) KHAWAJA TARIQ FAROOQ 35202-1548702-3 KHAWAJA FAROOQ SADIQ 557 - - 557 557 - - 557
403, EME SECTOR D.H.A MULTAN ROAD,
LAHORE.
258 SYNERGY CORPORATION JAVED ASGHAR 35201-1458037-1 M ASGHER SHEIKH 2,791 4,221 - 7,012 2,791 4,221 - 7,012
SUIT # 15, 7TH FLOOR, CENTRAL PLAZA, CIVIC CENTRE, HASSAN IKRAM 35202-2534160-1 IKRAM-UL-HAQ
NEW GARDEN TOWN, LAHORE. QAZI MOEED ALI 35202-6634158-3 QAZI FARHAT ALI
259 RECTO SPORTS SHAHZAD KOUSER CHEEMA 34603-4526639-7 CH. MIAN KHAN CHEEMA 11,999 4,220 - 16,219 11,999 4,220 - 16,219
DASKA ROAD, CH. FAROOQ A. CHEEMA 34603-6623013-5 CH. MIAN KHAN CHEEMA
SIALKOT-6. IMRAN FAROOQ CHEEMA 34603-1792850-9 CH. FAROOQ A. CHEEMA
260 TAIBA MODEL JEWELLERS M. YOUNUS 35202-6559478-5 MAULA BAKHSH 1,795 7,280 - 9,075 1,795 7,280 - 9,075
SV-8-5-4/1, UMER STREET, SUNEHRI MANDI, M. SHAHZAD YOUNUS 35202-9705130-3 MUHAMMAD YOUNUS
OLD ANARKALI ROAD, LAHORE.
261 ASIF ENTERPRISES MUHAMMAD TAHIR 42101-1782295-1 MUHAMMAD HUBAIR - 588 - 588 - 588 - 588
R-453, SECTOR 14-B, SHADMAN TOWN, NORTH KARACHI,
KARACHI-75850.
262 GALAXY TEXTILE MILLS ARIF GULZAR 35201-4424476-7 GULZAR MUHAMMAD 140,178 56,010 - 196,188 - 56,010 - 56,010
7-D-1, GULBERG-III, ASAD GULZAR 35201-7622962-9 ARIF GULZAR
LAHORE. FEROZ GULZAR 35201-3511954-1 ARIF GULZAR
263 ARAIN MILLS LIMITED MUNEER AHMED 36602-0930881-7 SHABEER AHMED - 7,602 - 7,602 - 7,602 - 7,602
61, ABDALI ROAD, MULTAN TANVEER AHMED 36602-0945927-5 SHABEER AHMED
47, QASIM ROAD, MULTAN. WASEEM AHMED 36602-1980003-3 BASHEER AHMED
ABDUL WAHEED 36602-0930877-3 ABDUL MAJEED
RASHID AHMED 36602-1700981-3 MUHAMMAD SIDDIQUE
ZAKARIA BEGUM 36602-0893425-0 ABDUL MAJEED
265 ARAIN MILLS LIMITED MUNEER AHMED 36602-0930881-7 SHABEER AHMED 7,200 27,269 - 34,469 7,200 27,269 - 34,469
266 SULEMAN SPINNING MILLS MUNEER AHMED 36602-0930881-7 SHABEER AHMED 6,234 38,367 - 44,601 6,234 38,367 - 44,601
267 YAKTA TRAVELS & TOURS SYED MEHMOOD UL HASSAN RIZVI 36302-0334318-9 SYED ABDUL HASSAN RIZVI 2,848 1,672 - 4,520 - 1,672 - 1,672
UNIT 5, 2ND FLOOR, SARDAR PLAZA, MUHAMMAD QASIM QURESHI 37405-5451824-3 BASHIR AHMED
6TH ROAD STOP, MURREE ROAD, RAWALPINDI.
97
98
(Rupees '000')
Annexure - 1
Interest/ Other
268 BUKHARI COMMERCIAL EXPORTERS ABDUL QADIR JANGDA 42301-5862447-7 ABDUL RAZZAQ 101,551 11,821 5,900 119,272 - 2,194 - 2,194
ATTIQUE MARKET, 3RD FLOOR, BOMBAY BAZAR,
KHARADAR, KARACHI.
269 SOUTHERN ELECTRIC POWER COMPANY LTD. ANTHONY RUSTIN NON-RESIDENT SYDNEY RUSTIN 30,867 3,153 - 34,020 - 3,153 - 3,153
NO.38, FIRST STREET, F-6/3, LYNN MARGARET ISOBEL NON-RESIDENT WILLIAM JOHN ALEXANDER
ISLAMABAD. S.M.GHALIB 35201-1597411-3 SARDAR MUHAMMAD AKRAM
CAROLE LINDA NON-RESIDENT YAHIA A. ADRIS
FLORIAN ZENNER NON-RESIDENT TIMM ZENNER
MANUEL MAKKI NON-RESIDENT ALIAN
SALMAN RAHIM NON-RESIDENT DR. S.A. RAHIM
RASHID MIRZA 42301-5026134-7 MUHAMMAD IFTIKHAR MIRZA
270 RAWAT CNG TASEER AHMED 37401-1402647-9 MUHAMMAD KHALID MARGHOOB - 1,378 - 1,378 - 1,378 - 1,378
KALAR ROAD, OPPOSITE WAPDA OFFICE, TEHSIL L RAWAT, SHEIKH MUHAMMAD YASIN 37405-0372117-5 SHEIKH QAMAR DIN
RAWALPINDI. NISAR AHMED 37405-0433772-3 MEHARBAN KHAN
271 KUNJAH TEXTILE MILLS LIMITED SHAFAY HUSSAIN 35202-4255471-1 CH. SHUJAT HUSSAIN 103,206 27,932 - 131,138 - 27,932 - 27,932
20/E-1 (C), GULGERB-III, MUHAMMAD MEHBOOB 35202-2324124-9 ABDUL HAMEED
LAHORE. HAMID NAZIR 35201-7973297-7 CHUADHRY NAZIR AHMED
272 PRIME DAIRIES LTD HASAN MAHMOOD 35202-9061529-5 LIAQAT MAHMOOD 24,819 6,664 19,829 51,312 - 6,664 19,829 26,493
38, EMPRESS ROAD, AHMED MAHMOOD 35201-2550198-3 LIAQAT MAHMOOD
LAHORE. LIAQAT MAHMOOD 35201-7907619-7 CH. SULTAN MAHMOOD
AISHA CHAUDHRY 35202-2433151-6 KARAMATULLAH CHAUDHRY
QASIM CHAUDHRY 35202-2556962-5 KARAMATULLAH CHAUDHRY
SARAH LEGHARI 35201-2295859-4 AHMED MAHMOOD
FATIMA HAMEED 35201-1366941-8 FAROOQ HAMEED
273 SECCO PAK (PVT) LTD. KAMAL ALAM 244-48-140963 AKHTAR ALAM KHAN - 13,486 - 13,486 - 13,486 - 13,486
18 KM. LAHORE SHEIKHUPURA ROAD, KHALID HAMID KHAN 277-50-106041 ABDUL HAMID KHAN
LAHORE. RAFIQUR REHMAN 271-37-049402 KHALILUR REHMAN KHAN
SIKANDAR HAMID 277-48-347640 ABDUL HAMID KHAN
SHAHID KARIM 517-49-191524 MOHAMMAD KARIN
274 SHAHPUR TEXTILE MILLS (PVT) LTD MIAN NAZIR AHMED PERACHA 274-42-430485 AZIZUDDIN PERACHA 18,965 2,337 - 21,302 7,215 2,337 - 9,552
HOUSE NO.77-A, ST.NO.16, CALVERY GROUND, QAMAR NAZIR PERACHA 517-48-043072 NAZIR AHMED PERACHA
LAHORE CANTT. FARIHA NAZIR PERACHA 274-50-430486 MIAN NAZIR AHMED PERACHA
CYMA NAZIR PERACHA 517-90-043074 MIAN NAZIR AHMED PERACHA
TAYMUR ALAM PARACHA 35201-1702969-3 MIAN NAZIR AHMED PARACHA
HASAN MAHMOOD 212-69-087723 MOHAMMAD YAMEEN
HAFIZ LAEEQ AHMED 270-67-545943 KHURSHEED AHMED
275 INVEST CAPITAL INVESTMENT BANK LIMITED NUSRAT YAR AHMED 42301-4241881-7 IFTIKHAR AHMED CHAUDHRY 48,733 10,877 - 59,610 - 10,877 - 10,877
(FORMERLY AL-ZAMIN LEASING) SAEED IQBAL CHAUDHRY 35201-1444666-5 MUHAMMAD IQBAL CHAUDHRY
C3C,12TH LANE , ITTEHAD COMMERCIAL, PHASE-II EXT., MUHAMMAD ZAHID 33102-1817745-5 MUHAMMAD SHARIF
D.H.A KARACHI" AAMER SAEED 42301-6373132-9 ANWER SAEED
REHMAN GHANI 43201-5250481-9 AMJAD HUSSAIN
FIRASAT ALI 42301-3598846-5 FARMAN ALI
BASHIR A CHOUDHRY 42301-1067986-1 KARAM ELAHI
276 ADIL CERAMICS BABAR SULTAN 34101-4247219-1 SULTAN - 3,669 - 3,669 - 3,669 - 3,669
10 KM LAHORE SIDE, GT ROAD, AZRA BABAR 34101-3479860-8 BABAR
GUJRANWALA.
277 ANZ TELECOM NAVEED NAIYAR HUSSAIN 42301-4883876-9 NAIYAR HUSSAIN - 1,329 - 1,329 - 1,329 - 1,329
HOUSE NO. 29/2, STREET NO. 29, PHASE-V, D.H.A.,
KARACHI.
278 AZIZ BROTHERS SYED IFTIKHAR ALI 36302-6231997-3 SYED ANWAR ALI BUKHARI - 934 - 934 - 934 - 934
41 D, INDUSTRIAL ESTATE,
MULTAN.
279 DAWOOD MILLS STORE SHEIKH AHMAD DAWOOD 35201-8843168-7 SHEIKH DAWOOD AHMED - 1,142 - 1,142 - 1,142 - 1,142
46 BRANDRETH ROAD,
LAHORE.
Annual Report 2011

Annual Report 2011
Annexure - 1

(Rupees '000')
Interest/ Other
280 DAWOOD SPINNING MILLS LIMITED MUHAMMAD IMRAN DAWOOD 35201-4903314-3 SHEIKH DAWOOD AHMAD 59,549 4,205 - 63,754 - 4,205 - 4,205
46 BRANDRETH ROAD, SHEIKH AHMAD DAWOOD 274-88-305116 SHEIKH DAWOOD AHMAD
LAHORE.
281 GRACE SHOES SHAHID RAZA 34603-7839428-5 GHULMAN RASOOL - 1,161 - 1,161 - 1,161 - 1,161
RAILWAY ROAD, CHOWK ALLAMA IQBAL,
SIALKOT.
282 ISLAMABAD PHOTO SERVICE & KODAK EXPRESS LAB MUHAMMAD ILYAS 61101-5615049-9 ADBUL AZIZ 334 41 280 655 334 41 280 655
SHOP NO. 24-B, BLOCK 12-C, JINNAH SUPER MARKET,
F-7 MARKAZ, ISLAMABAD.
283 MAHRAB PIPE INDUSTRIES MUSTANSAR HAFEEZ 35201-1681739-1 HAFEEZ ULLAH KHAN - 2,271 - 2,271 - 2,196 - 2,196
KALA KHATAI ROAD JAVEED PARK,
OPP MADRAS -TUL-BINAT, SHAHDARA, LAHORE.
284 MANZOOR & SONS SYED ETHESHAM HAIDER ZAIDI 35202-4627086-3 SYED HAMEED ASGHAR ZAIDI 518 - 873 1,391 518 - 873 1,391
252/A-II, BLOCK-5, TOWNSHIP,
LAHORE.
285 SABRI INDUSTRIES SYED AZIZ ANWAR 36302-8884357-1 SYED ANWAR ALI BUKHARI 10,000 537 - 10,537 - 537 - 537
144C FATIMA JINNAH S.I.E, NADEEM AKHTAR 36302-7868986-5 SYED ANWAR ALI BUKHARI
DISTRICT SIALKOT.
286 SAMI SONS WEAVING FACTORY ABDUL SAMI 33100-0595318-7 MUHAMMAD SHARIF - 3,928 - 3,928 - 3,928 - 3,928
P-2 NEW CIVIL LINES, GORAYA ROAD,
FAISALABAD.
287 SHAFY SPORTSWEAR NARGIS MUSTAFA 34603-1624780-0 GHULAM MUSTAFA CH 45,000 2,305 - 47,305 - 2,243 - 2,243
HOUSE NO 31/5, ZAFAR ALI ROAD, NAZIA ALI 34603-9457984-2 ZULFIQAR ALI CH
SIALKOT CANTT
288 SHAHEEN PETROLEUM SERVICE SIRAJUDDIN 41306-3875860-3 KHAN GUL 21,300 6,634 - 27,934 3,300 6,634 - 9,934
MAIN SHAH MAKKI ROAD, QACHA QILA,
HYDERABAD
289 T.P CORPORATION TARIQ HAMEED PURI 33100-2210978-7 ABDUL HAMEED PURI 12,500 2,681 - 15,181 - 2,158 - 2,158
P-15, MONGOMRY BAZAR,
FAISALABAD
290 SHAIKH INTERNATIONAL SHEIKH SOHAIL IBRAHIM 42000-5183618-7 SHEIKH MUHAMMAD IBRAHIM 1,012 346 - 1,358 497 346 - 843
MR 7/1, VIRJEE STREET, JODIA BAZAR,
KARACHI.
863,572 304,519 26,882 1,194,973 254,056 294,066 20,982 569,104
99
Moving ahead with focus
Consolidated Financial Statements
We have audited the annexed consolidated financial statements comprising consolidated statement
of financial position of NIB Bank Limited as at 31 December 2011 and the related consolidated
profit and loss account, consolidated statement of comprehensive income, consolidated cash
flow statement and consolidated statement of changes in equity together with the notes forming
part thereof, for the year then ended. These financial statements include unaudited certified returns
from the branches, except for 28 branches, which have been audited by us.
These financial statements are responsibility of the Bank’s management. Our responsibility is to
express our opinion on these financial statements based on our audit.
We conducted our audit in accordance with the auditing standards as applicable in Pakistan.
These standards require that we plan and perform the audit to obtain reasonable assurance about
whether the above said statements are free of any material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the above said
statements. An audit also includes assessing the accounting policies and significant estimates
made by management, as well as, evaluating the overall presentation of the above said statements.
We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the consolidated financial statements present fairly the financial position of NIB
Bank Limited as at 31 December 2011 and the results of its operations, its cash flows and changes
in equity for the year then ended in accordance with the approved accounting standards as
applicable in Pakistan.

Amir Jamil Abbasi

NIB Bank Limited
Consolidated Statement of Financial Position
Note 2011 2010

(Rupees '000')
ASSETS
Lendings to financial institutions 10 14,666,918 6,429,166
Investments 11 47,786,041 50,209,083
Advances 12 60,861,513 74,583,584
Operating fixed assets 13 2,722,863 2,751,703
Intangible assets 14 3,785,755 4,147,736
Deferred tax assets - net 15 10,958,166 9,395,264
Other assets 16 4,588,151 5,251,463
154,825,011 164,557,066
LIABILITIES
Bills payable 17 1,738,422 1,335,493

Borrowings 18 47,382,031 42,361,934
Deposits and other accounts 19 85,472,247 99,111,741
Sub-ordinated loans 20 3,994,400 3,996,000
Liabilities against assets subject to finance lease – –
Deferred tax liabilities – –
Other liabilities 21 2,574,241 3,866,958
141,161,341 150,672,126
NET ASSETS 13,663,670 13,884,940
REPRESENTED BY :
Share capital 22 103,028,512 40,437,271
Reserves 218,276 8,464,894
Discount on issue of shares (45,769,623) –
Total equity attributable to the equity holders of the Bank 14,143,256 7,892,204
Non-controlling interest 9 –
14,143,265 7,892,204
14,143,265 14,244,564
Deficit on revaluation of assets - net 23 (479,595) (359,624)
13,663,670 13,884,940
CONTINGENCIES AND COMMITMENTS 24
The annexed notes from 1 to 43 and annexure - 1 form an integral part of these consolidated financial statements.

NIB Bank Limited
Consolidated Profit and Loss Account
Note 2011 2010

(Rupees '000')
Mark-up / Return / Interest earned 25 14,250,121 16,482,767

Mark-up / Return / Interest expensed 26 12,155,613 13,467,526
Net Mark-up / Interest Income 2,094,508 3,015,241
Provision against non-performing loans and advances 12.5 2,355,074 9,872,524
Provision for diminution in the value of investments 11.13 178,913 115,134
2,549,789 10,041,017
Net Mark-up / Interest income after provisions (455,281) (7,025,776)
NON MARK-UP / INTEREST INCOME
Fee, commission and brokerage income 1,024,307 977,919
Dividend income 137,055 150,517
Income from dealing in foreign currencies 526,577 469,449
Gain on sale of securities 27 273,144 307,541
Unrealized loss on revaluation of investments
classified as held-for-trading (7,053) –
Other income 28 22,854 28,348
Total Non Mark-up / Interest income 1,976,884 1,933,774
1,521,603 (5,092,002)
NON MARK-UP / INTEREST EXPENSES
Administrative expenses 29 4,823,582 7,055,824
Other charges 30 42,497 121,918
Workers welfare fund (2,101) 859
Total Non Mark-up / Interest expense 5,064,890 7,336,960
Share of income of associates 11.11.1 51,278 339,960
Extraordinary / Unusual items – –
PROFIT / (LOSS) BEFORE TAXATION (3,492,009) (12,089,002)
Taxation - Current 31 202,619 228,733
- Prior years 31 30,658 385,655
- Deferred 31 (1,657,864) (2,996,630)
(1,424,587) (2,382,242)
PROFIT / (LOSS) AFTER TAXATION (2,067,422) (9,706,760)
Accumulated loss brought forward (41,009,961) (7,081,729)
ACCUMULATED LOSS CARRIED FORWARD (43,077,383) (16,788,489)
Profit / (Loss) attributable to:
Equity shareholders of the Bank (2,067,422) (9,706,760)
Non-controlling interest – –
(2,067,422) (9,706,760)
Basic / diluted Loss per share (Rupees) 32 (0.34) (2.40)

NIB Bank Limited
Consolidated Statement of Comprehensive Income
2011 2010
(Rupees '000')
Profit / (Loss) after taxation for the year (2,067,422) (9,706,760)
Other comprehensive income – –
Total comprehensive income for the year (2,067,422) (9,706,760)
Surplus / deficit on revaluation of ‘Available - for-Sale’ securities is presented under a separate head below equity as
‘Surplus / deficit on revaluation of assets’ in accordance with the requirements specified by the Companies Ordinance,
1984, and the State Bank of Pakistan vide its BSD Circular 20 dated August 4, 2000 and BSD Circular 10 dated
July 13, 2004.

NIB Bank Limited
Consolidated Statement of Changes in Equity
Attributable to ordinary shareholders of the Bank

Reserves
Capital Revenue
Share Discount on Share Statutory General Accumulated Non

Note capital issue of premium reserve reserve (loss) Sub Total Controlling Total
shares (a) Interest
(Rupees '000')
Balance as at December 31, 2009 40,437,271 – 8,246,618 212,804 5,472 (7,081,729) 41,820,436 – 41,820,436

(loss) for the year
Loss after taxation for the year – – – – – (9,706,760) (9,706,760) – (9,706,760)
Goodwill adjustment 14.2 – – – – – (24,221,472) (24,221,472) – (24,221,472)
Balance as at December 31, 2010 40,437,271 – 8,246,618 212,804 5,472 (41,009,961) 7,892,204 – 7,892,204

(loss) for the year
Loss after taxation for the year – – – – – (2,067,422) (2,067,422) – (2,067,422)
Non-controlling interest – – – – – – – 9 9
Transaction with owners,

recorded directly in equity
Issuance of right shares during

the year 62,591,241 – – – – – 62,591,241 – 62,591,241
Discount on issue of right shares – (54,016,241) – – – – (54,016,241) – (54,016,241)
Share premium adjusted against
share discount – 8,246,618 (8,246,618) – – – – – –
Right shares issue cost – – – – – (256,526) (256,526) – (256,526)
62,591,241 (45,769,623) (8,246,618) – – (256,526) 8,318,474 – 8,318,474
Balance as at December 31, 2011 103,028,512 (45,769,623) – 212,804 5,472 (43,333,909) 14,143,256 9 14,143,265
(a) This represents reserve created under section 21(1)(a) of the Banking Companies Ordinance 1962.

NIB Bank Limited
Consolidated Statement of Cash Flows
2011 2010
(Rupees '000')
CASH FLOWS FROM OPERATING ACTIVITIES
Loss before taxation (3,492,009) (12,089,002)

Dividend income (137,055) (150,517)
(3,629,064) (12,239,519)
Adjustments for non-cash items
Depreciation 280,538 394,062
Amortization 370,534 371,719
Workers welfare fund (2,101) 859
Gain on sale of securities (273,144) (307,541)
Gain on sale of operating fixed assets (2,574) (464)
Provision against non-performing loans and advances 2,355,074 9,872,524
Provision for diminution in the value of investments 178,913 115,134
Unrealized loss on revaluation of investments classified as held-for-trading 7,053 –
Share of income of associates (51,278) (339,960)
3,079,729 10,477,727
(549,335) (1,761,792)
(Increase) / decrease in operating assets
Lendings to financial institutions (8,237,752) (747,279)
Net investments in held-for-trading securities (95,540) –
Advances 11,351,195 (488,061)
Other assets (excluding advance taxation) 541,631 1,798,010
Increase / (decrease) in operating liabilities
Bills payable 402,929 (238,714)
Borrowings 5,020,097 (20,161,431)
Deposits and other accounts (13,639,494) 6,272,863
Other liabilities (excluding current taxation) (1,290,521) (741,554)
(6,496,790) (16,067,958)
Income tax paid (312,508) (872,814)
Net cash used in operating activities (6,809,298) (16,940,772)
CASH FLOWS FROM INVESTING ACTIVITIES
Net Investments in available-for-sale securities 2,277,767 10,731,652
Net Investments in held-to-maturity securities (22,089) (35,501)
Net Investments in associates 376,351 (808,666)
Dividend received 137,055 212,830
Payments for capital work in progress (191,617) (126,035)
Acquisition of property and equipment (62,329) (114,845)
Acquisition of intangible assets (7,834) (4,184)
Sale proceeds of property and equipment disposed of 4,103 5,007
Net cash from investing activities 2,511,407 9,860,258

NIB Bank Limited
Consolidated St a tement of Cash Flows
Note 2011 2010

(Rupees '000')
CASH FLOWS FROM FINANCING ACTIVITIES
Redemption of sub-ordinated loans (1,600) (1,600)

Issue of share capital 2,222,640 –
Dividend paid (86) (138)
Right shares issue cost (256,526) –
Net cash from financing activities 1,964,428 6,350,622
Net increase / (decrease) in cash and cash equivalents (2,333,463) (729,892)
Cash and cash equivalents at beginning of the year 11,789,067 12,518,959
Cash and cash equivalents at end of the year 33 9,455,604 11,789,067

NIB Bank Limited
Notes to the Consolidated Financial Statements
1. STATUS AND NATURE OF BUSINESS

The "Group" consists of:
Holding Company
NIB Bank Limited (the Bank)
NIB Bank Limited "the Bank" is incorporated in Pakistan and its registered office is situated at Muhammadi House,
I.I.Chundrigar Road, Karachi in the province of Sindh. The Bank is listed on all the stock exchanges in Pakistan
and has 179 branches (2010: 178 branches). The Bank is a scheduled commercial bank and is principally engaged
in the business of banking as defined in the Banking Companies Ordinance, 1962.
The Bank is a subsidiary of Bugis Investments (Mauritius) Pte. Limited which is a wholly owned subsidiary of Fullerton
Financial Holdings Pte. Limited which in turn is a wholly owned subsidiary of Temasek Holdings, an investment arm
of the Government of Singapore.
Subsidiary Companies
PICIC Asset Management Company Limited (PICIC AMC)
PICIC AMC is a wholly owned subsidiary of the Bank and is an unquoted public limited company with principal
business to carry out investment advisory services and asset management services. The Bank acquired interest
in PICIC AMC by virtue of acquisition and amalgamation of Pakistan Industrial Credit and Investment Corporation
Limited (PICIC) as of June 30, 2007.
PICIC Stock Fund (PSF)
The Group has acquired 99.99% interest in the PSF. PSF is an open ended mutual fund approved by the Securities
and Exchange Commission of Pakistan (SECP) and is listed on the Islamabad Stock Exchange (Guarantee) Limited.
The units of the PSF are offered to the public for subscription on a continuous basis and are transferable and
redeemable by surrendering them to the PSF. The investment objective of the Fund is to provide investors a
diversified equity portfolio with a primary objective of maximizing risk adjusted returns over longer investment
horizon through a combination of capital gains and dividend income.
Financial and Management Services (Private) Limited (FMSL)
The Group also acquired 95.89% interest in FMSL by virtue of acquisition and amalgamation of PICIC.
2. BASIS OF PRESENTATION
In accordance with the directives of the Federal Government regarding the shifting of the banking system to Islamic
modes, the State Bank of Pakistan (SBP) has issued various circulars from time to time. Permissible forms of trade-
related modes of financing include purchase of goods by banks from their customers and immediate resale to them
at appropriate mark-up in price on deferred payment basis. The purchases and sales arising under these
arrangements are not reflected in these financial statements as such but are restricted to the amount of facility
actually utilized and the appropriate portion of mark-up thereon.
These consolidated financial statements have been presented in Pakistan Rupees, which is the Group's functional
and presentation currency. The amounts are rounded off to the nearest thousand rupees.
3. STATEMENT OF COMPLIANCE
3.1 These consolidated financial statements have been prepared in accordance with approved accounting standards
as applicable in Pakistan. Approved accounting standards comprise of such International Financial Reporting
Standards (IFRS) issued by the International Accounting Standards Board (IASB) as are notified under the Companies
Ordinance, 1984, provisions of and directives issued under the Banking Companies Ordinance, 1962, the Companies
Ordinance, 1984 and the directives issued by the SBP. In case the requirements differ, the provisions of and
directives issued under the Banking Companies Ordinance, 1962, the Companies Ordinance, 1984 and the directives
issued by the SBP shall prevail.

3.2 The SBP vide BSD Circular No. 10, dated August 26, 2002 has deferred the applicability of International Accounting
Standard 39, Financial Instruments: Recognition and Measurement (IAS 39) and International Accounting Standard
40, Investment Property for banking companies till further instructions. Further, according to a notification of the
Securities and Exchange Commission of Pakistan (SECP) dated April 28, 2008, IFRS 7 "Financial Instruments:
Disclosures" has not been made applicable for banks. Accordingly, the requirements of these standards have not
been considered in the preparation of these consolidated financial statements. However, investments have been
classified and valued in accordance with the requirements of various circulars issued by the SBP.
3.3 Standards, interpretations and amendments to

published approved accounting standards that are not yet effective
The following standards, amendments and interpretations of approved accounting standards are effective for
accounting periods beginning on or after January 1, 2011:
– Amendments to IAS 12 – deferred tax on investment property (effective for annual periods beginning on or
after 1 January 2012). The 2010 amendment provides an exception to the measurement principle in respect
of investment property measured using the fair value model in accordance with IAS 40 Investment Property.
The measurement of deferred tax assets and liabilities, in this limited circumstance, is based on a rebuttable
presumption that the carrying amount of the investment property will be recovered entirely through sale. The
presumption can be rebutted only if the investment property is depreciable and held within a business model
whose objective is to consume substantially all of the asset’s economic benefits over the life of the asset.
However, this change will not impact the Bank as SBP vide BSD Circular No. 10 dated August 26, 2002 has
deferred the applicability of IAS 40 for Banking Companies.
– IAS 27 Separate Financial Statements (2011) - (effective for annual periods beginning on or after 1 January
2013). IAS 27 (2011) supersedes IAS 27 (2008). Three new standards IFRS 10 - Consolidated Financial
Statements, IFRS 11- Joint Arrangements and IFRS 12- Disclosure of Interest in Other Entities dealing with
accounting for subsidiaries and associates would be applicable effective 1 January 2013. IAS 27 (2011) carries
forward the existing accounting and disclosure requirements for separate financial statements, with some
minor clarifications. The amendments have no impact on financial statements of the Bank.
– IAS 28 Investments in Associates and Joint Ventures (2011) - (effective for annual periods beginning on or
after 1 January 2013). IAS 28 (2011) supersedes IAS 28 (2008). IAS 28 (2011) makes the amendments to
apply IFRS 5 to an investment, or a portion of an investment, in an associate or a joint venture that meets the
criteria to be classified as held for sale; and on cessation of significant influence or joint control, even if an
investment in an associate becomes an investment in a joint venture. The amendments have no impact on
financial statements of the Bank.
– IAS 19 Employee Benefits (amended 2011) - (effective for annual periods beginning on or after 1 January
2013). The amended IAS 19 includes the amendments that require actuarial gains and losses to be recognised
immediately in other comprehensive income; this change will remove the corridor method and eliminate the
ability for entities to recognise all changes in the defined benefit obligation and in plan assets in profit or loss,
which currently is allowed under IAS 19; and that the expected return on plan assets recognised in profit or
loss is calculated based on the rate used to discount the defined benefit obligation. The impact of these have
not been quantified.
– Presentation of Items of Other Comprehensive Income (Amendments to IAS 1) - (effective for annual periods
beginning on or after 1 July 2012). The amendments require that an entity present separately the items of other
comprehensive income that would be reclassified to profit or loss in the future if certain conditions are met
from those that would never be reclassified to profit or loss. The amendments do not address which items are
presented in other comprehensive income or which items need to be reclassified. The requirements of other
IFRSs continue to apply in this regard. The amendments have no impact on financial statements of the Bank.
– Disclosures – Transfers of Financial Assets (Amendments to IFRS 7) - (effective for annual periods beginning
on or after 1 July 2011). The amendments introduce new disclosure requirements about transfers of financial
assets, including disclosures for financial assets that are not derecognised in their entirety; and financial assets
that are derecognised in their entirety but for which the entity retains continuing involvement. The amendments
have no impact on financial statements of the Bank.

– Offsetting Financial Assets and Financial Liabilities (Amendments to IAS 32) – (effective for annual periods
beginning on or after 1 January 2014). The amendments address inconsistencies in current practice when
applying the offsetting criteria in IAS 32 Financial Instruments: Presentation. The amendments clarify the
meaning of ‘currently has a legally enforceable right of set-off’; and that some gross settlement systems may
be considered equivalent to net settlement.
– Offsetting Financial Assets and Financial Liabilities (Amendments to IFRS 7) – (effective for annual periods
beginning on or after 1 January 2013). The amendments to IFRS 7 contain new disclosure requirements for
financial assets and liabilities that are offset in the statement of financial position or subject to master netting
agreement or similar arrangement. The amendments have no impact on financial statements of the Bank.
4. BASIS OF MEASUREMENT
These consolidated financial statements have been prepared under the historical cost convention, except for the
measurement of certain investments and commitments in respect of forward foreign exchange contracts that are
stated at revalued amounts / fair values, staff retirement benefits (Gratuity) which are stated at present value and
certain financial assets that are stated net of provisions.
5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of consolidated financial statements in conformity with approved accounting standards requires
the use of certain critical accounting estimates that affect the reported amounts of assets, liabilities, income and
expenses. It also requires the management to exercise its judgment in the process of applying the Group's
accounting policies. Estimates and judgments are continually evaluated and are based on historical experience,
including expectations of future events that are believed to be reasonable under the circumstances. The areas
where various assumptions and estimates are significant to the Group's financial statements or where judgment
was exercised in application of accounting policies are as follows:
5.1 Classification of Investments
As described in note 6.4, held-to-maturity securities are investments where the management has positive intent
and ability to hold to maturity. The classification of these securities involves management judgment as to whether
the financial assets are held-to-maturity investments.
Investments classified as held-for-trading are those which the Group has acquired with an intention to trade by
taking advantage of short term market / interest rate movements and are to be sold within 90 days.
Investments which are not classified as held-for-trading or held-to-maturity are classified as available-for-sale.
5.2 Impairment
Valuation and impairment of available-for-sale investments

The Group determines that an available-for-sale equity investment is impaired when there has been a significant
or prolonged decline in the fair value below its cost. The determination of what is significant or prolonged requires
judgment. In making this judgment, the Bank evaluates, among other factors, the normal volatility in share price.
In addition, impairment may be appropriate when there is evidence of deterioration in the financial health of the
investee, industry and sector performance, changes in technology and operational and financing cash flows.
Provision for diminution in the value of Term Finance Certificates, Bonds,and Sukuks is made as per the Prudential
Regulations issued by the State Bank of Pakistan.

In case of impairment of available for sale securities, the loss is recognised in the profit and loss account.
Impairment of non financial assets (excluding deferred tax and goodwill)

Non financial assets are subject to impairment review if there are events or changes in circumstances that indicate
that the carrying amount may not be recoverable. If any such indication exists, the Group estimates the recoverable
amount of the asset and the impairment loss, if any. The recoverable amount of an asset is the higher of its fair
value less costs to sell and its value in use. Value in use is the present value of future cash flows from the asset
discounted at a rate that reflects market interest rates adjusted for risks specific to the asset. If the recoverable
amount of an intangible or tangible asset is less than its carrying value, an impairment loss is recognised immediately
in the profit and loss account and the carrying value of the asset reduced by the amount of the loss. A reversal of
an impairment loss on intangible assets (excluding goodwill) is recognized as it arises provided the increased
carrying value does not exceed that which it would have been had no impairment loss been recognized.
Impairment of Goodwill
Impairment testing involves a number of judgmental areas which are subject to inherent significant uncertainty,
including the preparation of cash flow forecasts for periods that are beyond the normal requirements of management
reporting and the assessment of the discount rate appropriate to the business.
5.3 Provision against non-performing advances

Apart from the provision determined on the basis of time based criteria given in the Prudential Regulations of the
SBP, management also applies subjective criteria of classification and accordingly the classification of an advance
may be downgraded on the basis of evaluation of the credit worthiness of the borrower, its cash flows, operations
in its account and adequacy of security in order to ensure accurate measurement of the provision.
5.4 Retirement Benefits

The key actuarial assumptions concerning the valuation of the defined benefit plan and the sources of estimation
are disclosed in note 35.2 to these consolidated financial statements.
5.5 Useful life of property and equipment

Estimates of useful life of property and equipment are based on management's best estimate.
5.6 Income Taxes

In making the estimates for income taxes currently payable by the Group, the management looks at the current
income tax laws and the decisions of appellate authorities on certain issues in the past. In making the provision
for deferred taxes, estimates of the Group's future taxable profits are taken into account.
6. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting policies adopted in the preparation of these consolidated financial statements are the same as
those applied in the preparation of the consolidated financial statements of the Bank for the year ended December
31, 2010 and are enumerated as follows:
6.1 Business combinations

Business combinations are accounted for using the purchase method. Under this method, identified assets acquired,
liabilities and contingent liabilities assumed are fair valued at the acquisition date, irrespective of the extent of any
minority interest. The excess of cost of acquisition over the fair value of identifiable net assets acquired is recorded
as goodwill.

6.2 Revenue recognition

Mark-up / return on performing loans / advances and investments is recognized on time proportionate basis. Where
debt securities are purchased at a premium or discount, such premium / discount is amortized through the profit
and loss account over the remaining period of maturity using the effective interest rate method so as to produce
a constant rate of return. Interest or mark-up recovered on non-performing advances is recognized on a receipt
basis in accordance with the requirements of the Prudential Regulations issued by the SBP as amended from time
to time.
The financing method is used in accounting for income on finance leases and hire purchase transactions. Under
this method, the unearned income, i.e. the excess of aggregate lease rentals and the estimated residual value over
the net investment (cost of leased assets) is deferred and then amortized to income over the term of the lease on
a pattern reflecting a constant periodic rate of return on the net investment in the lease. Unrealized lease income
is suspended, where necessary, in accordance with the requirements of the Prudential Regulations issued by
the SBP.
Rental income from assets given on operating lease is recognized on time proportionate basis over the lease period.
Gains / losses on termination of lease contracts, documentation charges and other lease income are recognized
as income when they are realized.
Fee, commission and brokerage income is recognized at the time of performance of the service.
Dividend income is recorded when the right to receive the dividend is established.
Management fee is recognized on an accrual basis.
Capital gains / lossess arising on sale of investments are included in the profit and loss account in the period in
which they arise.
6.3 Grants and assistance

In terms of Kreditanstalt fur Wiederaufbau (KFW) loan re-lent by the Government of Pakistan (GoP), the Bank was
required to bear interest at 11 percent per annum and pay interest to the GoP at 10 percent per annum and transfer
the remaining 1 percent per annum margin to a counter part fund to be used by the Bank for financing feasibility
surveys, market surveys and similar investigations destined for the preparation of projects.
6.4 Investments
Investments of the Group, other than investments in subsidiaries and associates are classified as held-to-maturity,
held-for-trading and available-for-sale.
Held-to-maturity
These are securities with fixed or determinable payments and fixed maturity and the Group has the positive intent
and ability to hold upto maturity.
Held-for-trading
These securities are either acquired for generating a profit from short-term fluctuations in market prices, interest
rate movements, dealer's margin or are securities included in the portfolio for which there is evidence of a recent
actual pattern of short-term profit taking.
Available-for-sale
These are securities which do not fall under the classification of held-for-trading or held-to-maturity securities.
Initial measurement
All “regular way” purchases and sales of investments are recognized on the trade date, i.e., the date that the Group

commits to purchase or sell the asset. Regular way purchases or sales are purchases or sales of investments that
require delivery of assets within the time frame generally established by regulation or convention in the market
place.
Investments are initially recognized at fair value which, in the case of investments other than held-for-trading,
includes transaction costs associated with the investments.
Subsequent measurement
Held-to-maturity
These are measured at amortized cost using the effective interest rate method, less any impairment loss recognized
to reflect irrecoverable amounts.
Held-for-trading
These are measured at subsequent reporting dates at fair value. Gains and losses on remeasurement are included
in the profit and loss account.
Available-for-sale
Quoted-securities classified as available-for-sale investments are measured at subsequent reporting dates at fair
value. Any surplus / deficit arising thereon is kept in a separate account shown in the balance sheet below equity
and taken to the profit and loss account when actually realized upon disposal or when the investment is considered
to be impaired.
Unquoted equity securities are valued at the lower of cost and break-up value. A decline in the carrying value is
charged to the profit and loss account. The break-up value of these equity securities is calculated with reference
to the net assets of the investee company as per the latest available audited financial statements. Investments in
other unquoted securities are valued at cost less impairment losses.
Provision for diminution in the value of securities (except term finance certificates) is made for impairment, if any.
Provision for diminution in the value of term finance certificates is made as per the aging criteria prescribed by the
Prudential Regulations issued by the SBP.
Investment in Associates
Investments in associates are accounted for under the equity method.
6.5 Lendings to / borrowings from financial institutions

Securities sold subject to a repurchase agreement (repo) are retained in the financial statements as investments
and the counter party liability is included in borrowings. Securities purchased under agreement to resale (reverse
repo) are not recognized in the financial statements as investments and the amount extended to the counter party
is included in lendings to financial institutions. In the case of the continuous funding system, transactions are shown
under advances. The difference between sale and repurchase price is treated as mark-up / return expensed
whereas difference between purchase and resale price is treated as mark-up / return earned.
Securities borrowed are not recognised in the financial statements, unless these are sold to third parties, in which
case the obligation to return them is recorded at fair value as a trading liability under borrowings from financial
institutions.
6.6 Advances
Advances including continuous funding system and net investment in finance lease are stated net of provisions.

Provisions
Specific and general provisions are made based on an appraisal of the loan portfolio that takes into account
Prudential Regulations issued by the State Bank of Pakistan from time to time. Specific provisions are made where
the repayment of identified loans is in doubt and reflects an estimate of the amount of loss expected. The general
provision is for the inherent risk of losses which are known from experience to be present in any loan portfolio.
Provision made / reversed during the year is charged to the profit and loss account and accumulated provision is
netted off against advances.
Advances are written off when there is no realistic prospect of recovery.
Net investment in finance lease

Leases include hire purchase where the Bank transfers substantially all the risks and rewards incidental to the
ownership of an asset and are classified as finance leases. Net investment in finance lease is recognized at an
amount equal to the aggregate of minimum lease payments and any guaranteed residual value less unearned
finance income, if any.
6.7 Operating fixed assets
Owned
Property and equipment except freehold and leasehold land is stated at cost less accumulated depreciation and
accumulated impairment loss, if any. Freehold and leasehold land is stated at cost.
Depreciation is charged to income applying the straight line method over the estimated useful lives of the assets
while taking into account any residual value, at the rates given in Note 13.2 to the consolidated financial statements.
In respect of additions and deletions to assets during the year, depreciation is charged from the month of acquisition
while depreciation on disposals during the year is charged upto the month of disposal.
Normal repairs and maintenance are charged to the profit and loss account for the year as and when incurred.
Major repairs and improvements are capitalized and assets so replaced are retired.
Gains and losses on disposal of property and equipment if any, are taken to the profit and loss account for
the year.
Assets Held under Finance Lease

Leasehold land is stated at cost.
Assets held under finance lease are stated at cost less accumulated depreciation. The outstanding obligations
under the lease agreements are shown as a liability net of finance charges allocable to future periods. Depreciation
on assets held under finance lease is charged in a manner consistent with that for depreciable assets which are
owned by the Group.
Finance charges are allocated to accounting periods so as to provide a constant periodic rate of return on the
outstanding liability.
Assets Held under Operating Lease

Operating lease assets are stated at cost less accumulated depreciation and impairment, if any.
Repairs and maintenance are charged to the profit and loss account as and when incurred.
Capital work in progress

These assets are stated at cost.

6.8 Intangible assets

Intangible assets include the value of the brand, core deposit relationships, and core overdraft / working capital
loan relationships and are stated at cost less accumulated amortisation and accumulated impairment losses, if any.
Amortisation is charged to the profit and loss account on a straight line basis over the assets' useful lives which
are determined using methods that best reflect the pattern of economic benefits. The estimated useful lives are
as follows:
Brand 5 years
Core deposit relationships 11 years
Core overdraft / working capital loan relationships 11 years
Management rights Indefinite life
Management rights were stated at cost less accumulated amortization and impairment losses, if any in PICIC AMC.
Amortization was charged on straight line basis over a period of 10 years. The useful life of the management rights
has been determined, post-acquisition, to be indefinite.
Computer softwares are stated at cost less accumulated amortization and accumulated impairment losses, if any.
Amortization is carried out on the straight line method at the rates given in Note 14 to the consolidated financial
statements.
6.9 Sub-Ordinated Loans

Sub-ordinated loans are initially recorded at the amount of proceeds received. Mark-up accrued on these loans
is recognized separately as part of other liabilities and is charged to the profit and loss account over the period
on an accrual basis.
6.10 Staff retirement benefits
Defined contribution plan

The Group operates a defined contribution provident fund for all its permanent employees. Equal monthly contributions
are made to the fund by both the Group and the employees at the rate of 10% of basic salary.
Defined benefit plan

The Bank operates an unfunded gratuity scheme covering all eligible employees who have attained the minimum
qualifying period of five years. Eligible employees are those employees who have joined the service of the Bank
on or before March 31, 2006. Provision is made in accordance with actuarial recommendations. Actuarial valuation
is carried out periodically using the "Projected Unit Credit Method'.
Actuarial gain / loss is recognized using the 10% corridor approach. Corridor is defined as the greater of 10% of
the present value of defined benefit obligations and plan assets.
6.11 Taxation
Income tax expense comprises current and deferred tax. Income tax expense is recognised in the profit and loss
account except to the extent that it relates to items recognised directly in equity.
Current
Provision for current taxation is based on taxable income at the current rates of taxation in accordance with the
prevailing laws for taxation on income earned after taking into consideration tax credits and rebates available and
any adjustments to tax payable in respect of previous years.

Deferred
Deferred tax is recognized using the balance sheet liability method on all major temporary differences as at the
statement of financial position date between the amounts attributed to assets and liabilities for financial reporting
purposes and amounts used for taxation purposes. The Bank records deferred tax assets / liabilities using tax rates,
enacted or substantially enacted at the statement of financial position date, that are expected to be applicable at
the time of their reversal.
A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available
against which the asset can be utilized. Deferred tax assets are reduced to the extent that it is no longer probable
that the related tax benefit will be realized.
The Group recognizes a deferred tax asset / liability on deficit / surplus on revaluation of securities in accordance
with the requirements of IAS 12 "Income Taxes". The related deferred tax asset / liability is adjusted against the
related deficit / surplus.
The Group recognizes a deferred tax asset for the carry forward of unused tax losses and unused tax credits to
the extent that it is probable that future taxable profits will be available against which the unused tax losses and
unused tax credits can be utilized in accordance with the requirements of IAS 12 "Income Taxes".
6.12 Provisions
Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of past events
and it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate of
the amount can be made. Provisions are reviewed quarterly and are adjusted to reflect the current best estimate.
6.13 Offsetting
Financial assets and financial liabilities are offset and the net amount is reported in the financial statements when
there is a legally enforceable right to set-off the recognized amount and the Group intends either to settle on a net
basis, or to realize the assets and to settle the liabilities simultaneously. Income and expense items relating to such
assets and liabilities are also offset and the net amount is reported in the financial statements.
6.14 Dividend distribution

Dividend is recognized as a liability in the period in which it is declared.
6.15 Distributions of bonus shares and other appropriations to reserves

The Group recognizes all appropriations, other than statutory appropriations, to reserves including those in respect
of bonus shares made after the balance sheet date, in the period in which such appropriations are approved.
6.16 Foreign currencies

Transactions in foreign currencies are translated to Rupees at the foreign exchange rates prevailing at the transaction
date. Monetary assets and liabilities in foreign currencies are translated into Rupees at the rates of exchange
prevailing at the balance sheet date. Forward foreign exchange contracts and foreign bills purchased are valued
at forward rates applicable to their respective maturities.
Commitments for outstanding forward foreign exchange contracts are disclosed in these consolidated financial
statements at committed amounts. Contingent liabilities / commitments for letters of credit and letters of guarantee
denominated in foreign currencies are expressed in Rupee terms at the rates of exchange approximating those
prevailing at the balance sheet date.
Assets against which the constituents have exercised their option to transfer exchange risk to the Group and
liabilities for which the Group has exercised its option to transfer exchange risk to the Government, are translated
at the rates of exchange guaranteed by the Group and the Government, respectively.

Assets, liabilities, commitments and contingent liabilities in respect of Bangladesh are translated at foreign exchange
rates approximating those prevailing prior to August 15, 1971.
Exchange gains and losses are included in income currently except net unrealized exchange gain on long-term
monetary items which, as a matter of prudence, is carried forward as unrealized gain in view of the uncertainty
associated with its realization.
6.17 Cash and cash equivalents

For the purposes of the cash flow statement, cash and cash equivalents include cash and balances with treasury
banks and balances with other banks.
6.18 Financial instruments

All financial assets and liabilities are recognized at the time when the Group becomes a party to the contractual
provisions of the instrument. Financial assets are derecognized when the Group loses control of the contractual
rights that comprise the financial assets. Financial liabilities are derecognized when they are extinguished i.e. when
the obligation specified in the contract is discharged, cancelled or expired. Any gain or loss on derecognition of
the financial assets and financial liabilities is taken to income directly. Financial assets carried on the balance sheet
include cash and bank balances, lendings to financial institutions, investments, advances and certain receivables.
Financial liabilities include borrowings, deposits, bills payable and other payables. The particular recognition
methods adopted for significant financial assets and financial liabilities are disclosed in the individual policy
statements associated with them.
6.19 Derivative financial instruments

Derivative financial instruments are recognized at their fair value on the date on which a derivative contract is
entered into and subsequently these instruments are marked to market and changes in fair values are taken to the
profit and loss account. Fair values are obtained from quoted market prices in active markets.
6.20 Segment reporting

A segment is a distinguishable component of the Bank that is engaged in providing products or services (business
segment), or in providing products or services within a particular economic environment (geographical segment),
which is subject to risks and rewards that are different from those of other segments. The Bank’s primary format
of reporting is based on business segments.
6.20.1 Business Segments
Corporate and Investment Banking

It represents all funded and non funded credit facilities of working capital financing including seasonal finance,
trade finance, cash finance, running finance, guarantees and bills of exchange relating to corporate customers,
as well as for long term expansion, BMR, Project financing, syndicated financing along with advisory, underwriting,
transactional banking, and IPO related activities.
Retail
It represents banking services offered to individuals and small businesses through a retail branch banking and
alternate distribution network. These banking services include lending, deposits and distribution of insurance
products along with other financial products and services tailored for such customers.
Small & Medium Enterprises and Commercial

It represents all funded and non funded credit facilities, deposit products & transaction services offered by the
Bank to small & medium enterprises and commercial businesses operating in the manufacturing, trading, wholesale
and service sectors.

Treasury
Treasury manages the asset and liability mix of the Bank, and provides customers with products that meet their
demands for management of liquidity, cash flow, interest rate fluctuations and foreign exchange risk.
6.20.2 Geographical segments

The Group operates in Pakistan only.
6.21 Assets acquired in satisfaction of claims

The Bank occasionally acquires assets in settlement of certain advances. These are stated at the lower of the
carrying value of the related advances and the current fair value of such assets.
6.22 Deposits
Deposits are initially recorded at the amount of proceeds received. Mark-up accrued on deposits is recognized
separately as part of other liabilities and is charged to the profit and loss account on a time proportionate basis.
6.23 Earnings per share

The Group presents earnings per share (EPS) data for its ordinary shares. EPS is calculated by dividing the profit
or loss attributable to ordinary shareholders of the Group by the weighted average number of ordinary shares
outstanding during the year.
7. BASIS OF CONSOLIDATION
The assets and liabilities of subsidiary companies have been consolidated on a line by line basis and the carrying
value of investment in subsidiaries held by the holding company is eliminated against the shareholders' equity in
the consolidated financial statements.
Material intra-group balances and transactions have been eliminated.
These consolidated financial statements includes the financial statements of NIB Bank Limited and its subsidiary
companies - "the Group".
Subsidiary companies are fully consolidated from the date on which more than 50% of the voting rights are transferred
to the Group, or the power to control the Company is established and are excluded from consolidation from the
date of disposal or when the control is lost.
Non controlling interest represents that part of the net results of operations and of net assets of the subsidiary
companies that is not owned by the Group.
Financial and Management Services (Private) Limited has not been consolidated as it is not material and this
investment has been fully provided.

8. CASH AND BALANCES WITH TREASURY BANKS

Note 2011 2010
(Rupees '000')
In hand
Local currency 8.1 2,236,526 2,155,359
With State Bank of Pakistan in
Local currency current accounts 8.2 3,852,169 4,287,132
Foreign currency current account 8.3 260,843 308,292
Foreign currency deposit accounts 8.4 807,546 1,034,595
With National Bank of Pakistan in local currency current accounts 557,518 773,205
7,969,044 8,836,474
8.1 These includes National Prize Bonds of Rs. 6.237 million (2010 : Rs. 4.611 million).
8.2 The current account is maintained under the requirements of Section 22 of the Banking Companies Ordinance,
1962.
8.3 This includes special cash reserve at Nil return (2010: Nil) required to be maintained with the SBP on deposits held
under the new foreign currency accounts scheme.
8.4 This represents special cash reserve of 15% required to be maintained with the SBP on deposits held under the
new foreign currency accounts scheme at Nil return (2010: Nil) per annum.
9. BALANCES WITH OTHER BANKS

In Pakistan
In current accounts 853,476 309,957
In deposit accounts – 1,114
Outside Pakistan in current accounts 633,084 2,645,486
1,486,560 2,956,557
Provision against doubtful balances – (3,964)
1,486,560 2,952,593
9.1 Provision against doubtful balances represents impairment in balance outstanding with BCCI. The said amount
has been written off in the current year.
10. LENDINGS TO FINANCIAL INSTITUTIONS

Call money lendings 10.2 195,000 725,000
Repurchase agreement lendings (Reverse Repo) 10.3 & 10.4 14,471,918 5,704,166
14,666,918 6,429,166
10.1 Particulars of Lendings
In foreign currencies – –
14,666,918 6,429,166
10.2 These represent unsecured call money lending to a financial institution carrying mark-up rate of 12.25% (2010:
12.75% to 15.00%) per annum and having remaining maturity of three days.
10.3 These represent repurchase agreement lendings to financial institutions carrying mark-up rates ranging from
11.63% to 13.31% (2010: 12.70% to 13.90%) per annum and having remaining maturities upto one month.

10.4 Securities held as collateral against lendings to financial institutions
2011 2010
Further Further
Held by given as Total Held by given as Total
Group collateral/ sold Group collateral/sold
(Rupees '000')
Market Treasury Bills 5,969,968 7,998,376 13,968,344 499,931 3,461,900 3,961,831
Pakistan Investment Bonds 503,574 – 503,574 1,429,763 312,572 1,742,335
6,473,542 7,998,376 14,471,918 1,929,694 3,774,472 5,704,166
10.4.1 The market value of securities held as collateral against lendings to financial institutions as at December 31, 2011 amounted
to Rs. 14,517.363 million (2010: Rs. 5,717.143 million).
2011 2010
Held by Given as Total Held by Given as Total
Note Group collateral Group collateral
(Rupees '000')
11. INVESTMENTS
11.1 (a) Investments by types:

Ordinary shares / certificates in
listed companies / modarabas 11.2 87,075 8,465 95,540 – – –
87,075 8,465 95,540 – – –
Market Treasury Bills 11.2.1 7,687,909 18,826,953 26,514,862 12,450,355 18,562,576 31,012,931
Pakistan Investment Bonds 11.2.1 & 11.2.2 2,897,683 6,180,265 9,077,948 2,612,273 961,963 3,574,236
Defense Savings Certificates 11.3 – 2,730 2,730 5,771 2,730 8,501
Sukuk Bonds 11.4 528,774 – 528,774 505,126 – 505,126
Cumulative Preference Shares 11.5 80,178 – 80,178 50,000 – 50,000
Ordinary Shares / Certificates in
Listed Companies / Modarabas 11.6 961,085 112,373 1,073,458 1,053,073 112,373 1,165,446
Ordinary Shares of Unlisted Companies 11.7 66,092 – 66,092 66,049 – 66,049
Term Finance Certificates 11.8 & 11.9 2,372,733 – 2,372,733 5,171,496 – 5,171,496
Units / Certificates of Mutual Funds 11.10 13,005 – 13,005 270,106 – 270,106
14,607,459 25,122,321 39,729,780 22,184,249 19,639,642 41,823,891
Pakistan Investment Bonds 11.2.1 235,980 4,499,632 4,735,612 4,691,896 – 4,691,896
Term Finance Certificates 11.8 & 11.9 97,334 – 97,334 118,961 – 118,961
333,314 4,499,632 4,832,946 4,810,857 – 4,810,857
Associates 11.11 3,565,988 – 3,565,988 4,102,774 – 4,102,774
Subsidiary 11.12 724 – 724 724 – 724
Total investments - Gross 18,594,560 29,630,418 48,224,978 31,098,604 19,639,642 50,738,246
Provision for diminution in

value of investments 11.13 &11.14 (498,103) (65,863) (563,966) (449,668) (24,873) (474,541)
Investments - net of provisions 18,096,457 29,564,555 47,661,012 30,648,936 19,614,769 50,263,705
Deficit on revaluation of
Held-for-trading securities (5,933) (1,120) (7,053) – – –
Surplus / (Deficit) on revaluation of
available-for-sale securities 23 55,249 76,833 132,082 22,882 (77,504) (54,622)
Net Investments 18,145,773 29,640,268 47,786,041 30,671,818 19,537,265 50,209,083

11.1 (b) Investments by segments: Note 2011 2010

(Rupees '000')

Market Treasury Bills 11.2.1 26,514,862 31,012,931
Pakistan Investment Bonds 11.2.1 & 11.2.2 13,813,560 8,266,132
Defense Savings Certificates 11.3 2,730 8,501
Sukuk Bonds 11.4 528,774 505,126
Cumulative Preference Shares 11.5 80,178 50,000
Fully Paid-up Ordinary Shares & Modaraba certificates

Listed 11.6 1,168,998 1,165,446
Unlisted 11.7 66,092 66,049

Listed 11.8 2,311,691 2,321,843
Unlisted 11.9 158,376 2,968,614
Units / Certificates of Mutual Funds 11.10 13,005 270,106
Associates 11.11 3,565,988 4,102,774
Subsidiary 11.12 724 724
Total investments - Gross 48,224,978 50,738,246
Provision for diminution in value of investments 11.13 & 11.14 (563,966) (474,541)
Investments - net of provisions 47,661,012 50,263,705
Deficit on revaluation of held-for-trading securities (7,053) –

Surplus / (Deficit) on revaluation of available-for-sale securities 23 132,082 (54,622)
Net Investments 47,786,041 50,209,083
11.2 Shares with market value aggregating to Rs. 7.345 million have been pledged with the National Clearing Company
Limited of Pakistan (NCCPL) as collateral against trading facility in Stock Exchange.
11.2.1 Market Treasury Bills and Pakistan Investment Bonds are held with the SBP and are eligible for rediscounting.
Market Treasury Bills embody effective yields ranging from 11.92% to 13.35% (2010: 12.02% to 13.78%) with
remaining maturities of 138 days to 320 days and Pakistan Investment Bonds carry mark-up ranging from 8% to
12% (2010: 8% to 14%) per annum on semi-annual basis with remaining maturities of 116 days to 10 years. Certain
government securities are required to be maintained with the SBP to meet statutory liquidity requirements calculated
on the basis of demand and time liabilities.
11.2.2 This includes Rs. 100 million PIB outstanding as at December 31, 2011, which was pledged against borrowing
from a Company in 2004. As the lender had failed to return the pledged PIB upon the maturity of the contract
period, this amount is appearing as investment in PIBs with a corresponding amount appearing in Borrowings.
No interest is accrued either as income from the PIB or as expense on this borrowing since the filing of the dispute
11.3 These DSCs of Rs. 2.730 million are pledged as security and carry interest rate at 12.15 % per annum.
11.4 These Sukuk Bonds of Liberty Power Tech Limited carry mark-up rate of 3 months KIBOR + 300 bps and have
an original maturity of 12 years.

11.5 Particulars of investment in Cumulative Preference Shares

Number of Shares Total nominal value
held
Note 2011 2010 2011 2010
Investee (Rupees '000')
Pak Elektron Limited 11.5.1 2,500,000 2,500,000 25,000 25,000
Fazal Cloth Mills Limited 11.5.2 2,500,000 2,500,000 25,000 25,000
Galaxy Textile Mills Limited 11.5.3 3,017,800 – 30,178 –
80,178 50,000
11.5.1 These preference shares carry fixed dividend of 9.5% on cumulative basis payable when and if declared by
the Board of Directors. For redemption, the call option can be exercised by PEL up to 100% after three years
of the issue date at 1% premium on the issue price.
11.5.2 These preference shares are redeemable upon the exercise of a call option by the company after completion
of three years from the issue date.
11.5.3 These preference shares are non voting and convertible into ordinary shares after 10 years. These preference
shares bears a fixed return at the rate of 5% per annum that will be non cumulative for the first five years and
thereafter will be cumulative from year to year.
11.6 Particulars of investment in Listed Shares / Certificates
Number of Shares / Cost of investment

Certificates held
2011 2010 2011 2010
(Rupees '000')
Allied Bank Limited 35,000 - 2,250 -
Engro Corporation Limited 75,000 - 8,081 -
Fatima Fertilizer Company Limited 380,000 - 8,774 -
Fauji Fertilizer Bin Qasim Limited 33,245 - 1,715 -
Fauji Fertilizer Company Limited 50,000 - 7,725 -
Habib Bank Limited 20,000 - 2,360 -
Hub Power Company Limited 277,000 - 11,421 -
Kot Addu Power Company Limited 248,000 - 11,335 -
Lucky Cement Limited 65,000 - 4,932 -
MCB Bank Limited 20,500 - 3,231 -
Oil and Gas Development Company Limited 35,000 - 5,369 -
Pakistan Oilfields Limited 26,500 - 9,422 -
Pakistan Petroleum Limited 41,000 - 7,252 -
Pakistan State Oil Company Limited 40,000 - 9,335 -
United Bank Limited 40,000 - 2,338 -
Total 95,540 -
Available-for-sale
Abbott Laboratories (Pakistan) Limited 721,281 738,086 149,705 151,814
Adamjee Insurance Company Limited 1,533,330 1,533,330 172,304 172,304
Agriauto Industries Limited – 311,572 – 21,504
Awan Textile Mills Limited 39,000 39,000 390 390
Bank Alfalah Limited – 1,000,000 – 14,339
Brother Textile Mills Limited 87 87 2 2

Number of Shares / Cost of investment

Certificates held
2011 2010 2011 2010
(Rupees '000')
Available-for-sale
Dewan Farooq Motors Limited – 944,225 – 30,184
Fatima Fertilizer Company Limited – 195,349 – 2,755
First Fidelity Lease Modaraba 1 1 – –
First National Bank Modaraba 581,880 699,751 4,946 5,948
First Tawakal Modaraba 446,774 446,774 – –
Glamour Textile Mills Limited 200,000 200,000 5,016 5,016
GlaxoSmithKline Pakistan Limited 568,977 576,254 95,192 110,407
Habib Insurance Company Limited *1,613,557 *1,533,457 83,772 89,231
Ibrahim Fibres Limited 300 300 5 5
Karam Ceramics Limited 429,146 430,146 8,321 8,326
KSB Pumps Company Limited 111,017 114,774 20,044 20,554
Lafarage Pakistan Cement Limited GDR
(formerly Pakistan Cement Limited) 10,000 10,000 2,819 2,819
LTV Capital Modaraba *171,473 *171,473 5,573 5,573
Millat Tractors Limited 408,592 413,592 152,971 150,910
Mohib Textile Mills Limited 5 5 – –
Security Investment Bank Limited 10 10 – –
Security Papers Limited – 151,538 – 7,442
Sitara Chemical Industries Limited 105,126 105,862 33,640 33,735
Tariq Glass Industries Limited 6,349,212 2,116,404 90,022 37,113
Tawakal Garment Limited 150,000 150,000 – –
The Hub Power Company Limited 7,289,451 8,314,581 237,805 271,049
Trust Modaraba 100 100 1 1
Yousuf Weaving Mills Limited 100 100 2 2
Total 1,073,458 1,165,446
Total Listed Shares / Certificates 1,168,998 1,165,446

Number of Cost of
Shares held Investment
Percentage
Note of holding 2011 2010 2011 2010
(Rupees '000')
11.7 Particulars of Unlisted Shares
Pakistan Export Finance Guarantee Agency Limited

Chief Executive: Syed Mohammad Zaeem 11.7.1 5.26% 568,044 568,044 5,680 5,680
Central Depository Company of Pakistan Limited
Chief Executive: Mr. Muhammad Hanif Jakhura 11.7.2 5.00% 3,250,000 2,500,000 5,000 5,000
Crescent Capital Management (Private) Limited
Chief Executive: Mr. Mahmood Ahmed 11.7.3 4.88% 100,000 100,000 1,000 1,000
Equity Participation Fund Limited
Chief Executive: Mr. S. Shabahat Hussain 11.7.4 0.97% **5,087 **5,087 509 509
Pakistan Textile City (Private) Limited
Chief Executive: Mr. Zaheer A. Hussain 11.7.5 4.00% 5,000,000 5,000,000 50,000 50,000
National Investment Trust Limited
Chief Executive: Mr. Wazir Ali Khoja 11.7.6 8.33% **79,200 **79,200 100 100
Sunbiz (Private) Limited
Chief Executive: Mr. Nisar Ahmed 11.7.7 4.65% 10,000 10,000 1,000 1,000
SWIFT
Chief Executive: Mr. Lazaro Campos 11.7.8 8.09% ***9 ***9 2,803 2,760
66,092 66,049
11.7.1 This investment is fully provided in these consolidated financial statements.

11.7.2 Value of investment, based on the net assets stated in the audited financial statements of investee company as at
June 30, 2011 amounts to Rs. 80.646 million.
June 30, 2011 amounts to Rs. 1,140.824 million.
December 31, 2010 amounts to Rs. 2.785 million.

Number of
Certificates held Amortized cost
2011 2010 2011 2010
(Rupees '000')
11.8 Particulars of investment in Listed Term Finance Certificates
Investee
Askari Bank Limited 53,120 37,320 267,238 186,500
Azgard Nine Limited 10,000 10,000 37,509 37,584
Bank Alfalah Limited 60,000 60,000 300,047 300,197
(formerly Engro Corporation Limited) 223,438 199,038 1,102,224 978,687
Escorts Investment Bank Limited 2,016 2,016 3,022 5,036
Orix Leasing Pakistan Limited 76,400 71,400 63,155 173,912
PACE Pakistan Limited 6,000 6,000 29,964 29,976
Pakistan Mobile Communications Limited 24,000 24,000 59,904 99,840
Soneri Bank Limited 6,000 6,000 22,446 29,934
Summit Bank Limited 10,000 – 50,000 –
Telecard Limited 74,888 74,888 137,607 136,052
United Bank Limited 45,000 65,000 210,315 301,727
2,311,691 2,321,843
11.9 Particulars of investment in Unlisted Term Finance Certificates
Avari Hotels Limited 30,400 30,400 129,070 129,070
New Khan Transport Company (Private) Limited 20,000 20,000 29,306 50,544
Power Holdings (Private) Limied 557,800 – 2,789,000
158,376 2,968,614
Number of Units /
Certificates held Cost of investment
2011 2010 2011 2010
(Rupees '000')
11.10 Particulars of Mutual Funds

Atlas Money Market Fund – 98,500 – 50,000
Faysal Savings Growth Fund – 951,022 – 100,000
First Dawood Mutual Fund 900,000 900,000 6,975 6,975
JS Growth Fund 227,410 227,410 2,911 2,911
JS Large Capital Fund 64,211 38,509 3,119 3,119
NAFA Government Securities Liquid Fund – 1,500,000 – 15,405
NAFA Savings Plus Fund – 1,500,000 – 15,529
Pakistan Strategic Allocation Fund – 8,370,000 – 76,167
13,005 270,106

Number of Shares / Units / Total carrying

Certificates held value
Holding 2011 2010 2011 2010
(Rupees '000')
11.11 Particulars of investment in associates

PICIC Investment Fund 34.04% 96,703,821 96,703,821 968,439 1,310,115
PICIC Growth Fund 15.34% 43,482,858 43,482,858 952,068 1,272,394
PICIC Energy Fund 27.17% 27,172,160 27,172,160 236,701 309,763
PICIC Income Fund 36.88% 3,944,000 9,987,674 397,941 1,000,528
PICIC Cash Fund 48.47% 9,372,114 1,399,420 940,358 140,723
PICIC Insurance Limited 30.00% 10,499,993 10,499,993 70,481 69,251
3,565,988 4,102,774
11.11.1 Summarized financial information in respect of associates is set out below:
2011
Share of
profit /
Profit / (loss) for
Total Total Net Total (loss) for the the year /
assets liabilities assets revenue year / period period
(Rupees '000')
PICIC Investment Fund 2,953,943 108,577 2,845,366 507,238 (159,424) (54,266)

PICIC Growth Fund 6,373,215 165,914 6,207,301 1,041,898 (243,724) (37,381)
PICIC Energy Fund 888,249 17,134 871,115 201,999 (18,886) (5,132)
PICIC Income Fund 1,087,758 8,793 1,078,965 225,422 157,591 91,417
PICIC Cash Fund 1,953,776 13,671 1,940,105 124,737 122,071 55,410
PICIC Insurance limited 924,891 689,953 234,938 233,793 4,101 1,230
51,278

Number of Shares /
Certificates held Total carrying value
2011 2010 2011 2010
(Rupees '000')
11.12 Particulars of investment in unconsolidated subsidiary
Financial and Management Services (Private) Limited **88,850 **88,850 724 724
724 724
Unless otherwise stated, holdings in modaraba certificates and ordinary shares are of Rs. 10 each.
* Shares / Modaraba Certificates of Face Value of Rs. 5 each
** Shares / Modaraba Certificates of Face Value of Rs. 100 each
*** Shares of Face Value of Euro 2,680 each
All Term Finance Certificates are of Original Face Value of Rs. 5,000 each
11.13 Particulars of provision for diminution in value of investments

2011 2010
(Rupees '000')

Reversal for the year
- Term Finance Certificates (21,238) (3,015)
178,913 115,134
Reversal due to sale (89,488) (199,326)
11.14 Particulars of provision in respect of type and segment
- Unlisted shares 49,845 15,837
- Unlisted Term Finance Certificates 80,561 50,544
563,242 473,817
Subsidiary 724 724
563,966 474,541

2011 2010
11.15 Quality of Held-for-trading / Available-for-sale

Securities - at Market Value
Market Treasury Bills 26,634,300 Unrated 30,956,373 Unrated

Pakistan Investment Bonds 9,038,705 Unrated 3,389,587 Unrated
Defense Savings Certificates 2,730 Unrated 8,501 Unrated
Sukuk Bonds 528,774 Unrated 505,126 Unrated
Cumulative Preference shares
Pak Elektron Limited 25,000 BBB/A3 25,000 A/A1

Fazal Cloth Mills Limited 25,000 A-/A2 25,000 A-/A2
Galaxy Textile Mills Limited 30,178 * – –
Ordinary shares of Listed Companies
Abbott Laboratories Pakistan Limited 71,977 * 80,998 *

Adamjee Insurance Company Limited 71,315 AA 134,166 AA
Agriauto Industries Limited – – 23,742 *
Allied Bank Limited 1,885 AA – –
Bank Alfalah Limited – – 11,210 AA / A1+
Bank AL Habib Limited 11,140 AA+/A1+ 26,906 AA+/A1+
Dewan Farooq Motors Limited – – 2,153 *
Engro Corporation Limited 6,952 AA – –
Fatima Fertilizer Company Limited 8,710 A+ 2,204 A/A1
Fauji Fertilizer Bin Qasim Limited 1,411 * – –
Fauji Fertilizer Company Limited 7,477 * – –
First National Bank Modaraba 4,160 A+/A-1 4,604 A+/A-1
GlaxoSmithKline Pakistan Limited 38,167 * 50,820 *
Habib Bank Limited 2,122 AA+ – –
Habib Insurance Company Limited 15,894 A+ 21,545 A+
K.S.B. Pumps Limited 2,699 * 6,899 *
Karam Ceramics Limited 2,189 * 3,355 *
Kot Addu Power Company Limited 10,247 * – –
Lucky Cement Limited 4,878 * – –
MCB Bank Limited 2,759 AA+ – –
Millat Tractors Limited 149,222 * 206,705 *
Oil and Gas Development Company Limited 5,307 AAA – –
Pakistan Oilfields Limited 9,181 * – –
Pakistan Petroleum Limited 6,901 * – –
Pakistan State Oil Company Limited 9,088 AA+ – –
Security Papers Limited – – 6,798 AAA / A-1+
Sitara Chemicals Industries Limited 7,590 A+/A-1 13,524 AA-/A-1
Tariq Glass Limited 52,063 * 43,429 *
The Hub Power Company Limited 258,772 AA+/A1+ 311,048 AA+/A1+
United Bank Limited 2,096 AA+ – –

2011 2010
Ordinary shares of Unlisted Companies
Central Depository Company of Pakistan Limited 5,000 * 5,000 *

Crescent Capital Management (Private) Limited 1,000 * 1,000 *
Equity Participation Fund Limited 509 * 509 *
National Investment Trust Limited 100 AM2 100 AM2
Pakistan Export Finance Guarantee Agency Limited 5,680 * 5,680 *
Pakistan Textile City (Private) Limited 50,000 * 50,000 *
Sun Biz (Private) Limited 1,000 * 1,000 *
SWIFT 2,803 * 2,760 *
Units / Certificates of Mutual Funds
Atlas Money Market Fund – – 50,777 AA+(f)

Faysal Saving Growth Fund – – 100,000 A(f)
First Dawood Mutual Fund 1,530 FR 2-STAR / 1,800 FR 2-STAR /
3-STAR 3-STAR
JS Growth Fund 1,069 * 1,262 FR 3-STAR
JS Large Capital Fund 2,462 * 2,509 *
NAFA Government Securities Liquid Fund – – 15,467 AAA(f)
NAFA Saving Plus Fund – – 15,424 AA-(f)
Pakistan Strategic Allocation Fund – – 70,308 FR 4-STAR
Askari Bank Limited 271,226 AA- 188,735 AA-

Avari Hotels Limited 129,070 A- (SO) 129,070 A-
Azgard Nine Limited 18,785 D 18,110 CCC(RW)
Bank Alfalah Limited 308,454 AA- 294,916 AA-
Engro Fertilizer Limited (formerly Engro
Corporation Limited) 1,104,900 AA 982,381 AA
Escorts Investment Bank Limited 2,228 BB 4,996 A
New Khan Transport Company (Private) Limited 29,306 * 50,544 *
Orix Leasing Pakistan Limited 61,586 AA+ 176,941 AA+
PACE Pakistan Limited 29,964 D 29,096 A+(-)
Pakistan Mobile Communication Limited 60,066 A+ 99,822 A+
Power Holdings (Private) Limited – * 2,789,000 *
Summit Bank Limited 48,066 A (SO) - -
Telecard Limited 134,697 D 128,904 BBB
United Bank Limited 199,123 AA 285,137 AA
39,517,513 41,360,941
* Rating not available

Note 2011 2010

12. ADVANCES (Rupees '000')
Loans, cash credits, running finance, etc.- in Pakistan 12.1 77,752,719 91,973,838
Net investment in finance lease - in Pakistan 12.3 1,975,733 2,310,162
Bills discounted and purchased (excluding Treasury Bills)
Payable in Pakistan 225,889 247,310
Payable outside Pakistan 4,534,870 3,830,813
Advances - Gross 84,489,211 98,362,123
Provision against non-performing advances - Specific 12.4 (23,345,559) (22,826,463)
- General (282,139) (952,076)
12.5 (23,627,698) (23,778,539)
Advances - Net of provisions
60,861,513 74,583,584
12.1 This includes a sum of Rs. 72.337 million (2010: Rs. 72.337 million) representing unrealized exchange gain, which
has not been recognised as income and deferred in these consolidated financial statements, in accordance with the
policy of the Bank, as stated in note 6.16.
12.2 Particulars of advances
12.2.1 In local currency 79,162,997 93,971,503

84,489,211 98,362,123
12.2.2 Short term (up to one year) 71,455,059 81,580,362

Long term (over one year) 13,034,152 16,781,761
84,489,211 98,362,123
12.3 Net Investment in Finance Lease

2011
Not later Later than Over
than one one and less five Total
year than five years years
(Rupees '000')

Residual value 530,913 – – 530,913
Minimum lease payments 2,366,533 31,545 2,398,078
2010

Residual value 731,926 25,282 – 757,208
12.3.1 A major portion of these leases are non performing against which provision of Rs. 1,433.547 million has been held.

12.4 Advances include Rs. 34,194.582 million (2010: Rs. 34,711.468 million), which have been placed under non-
performing status as detailed below:
2011
Note Classified Advances Provision Required Provision Held
(Rupees '000')
Category of Classification
Substandard 3,163,483 – 3,163,483 604,976 – 604,976 604,976 – 604,976
Doubtful 1,914,497 – 1,914,497 348,750 – 348,750 348,750 – 348,750
Loss 12.4.1 29,116,602 – 29,116,602 22,391,833 – 22,391,833 22,391,833 – 22,391,833
34,194,582 – 34,194,582 23,345,559 – 23,345,559 23,345,559 – 23,345,559
2010
Classified Advances Provision Required Provision Held
(Rupees '000')
Category of Classification
Substandard 6,276,443 – 6,276,443 1,353,623 – 1,353,623 1,353,623 – 1,353,623
Doubtful 5,966,804 – 5,966,804 2,859,483 – 2,859,483 2,859,483 – 2,859,483
Loss 22,468,221 – 22,468,221 18,613,357 – 18,613,357 18,613,357 – 18,613,357
34,711,468 – 34,711,468 22,826,463 – 22,826,463 22,826,463 – 22,826,463
12.4.1 Included in the Provision Required is an amount of Rs. 594.565 million (2010: Rs. 1,329.967 million) which represents provision in
excess of the requirements of the State Bank of Pakistan.
12.4.2 In accordance with BSD Circular No. 1 dated October 21, 2011 issued by the State Bank of Pakistan, the Bank has availed the benefit
of FSV against the non-performing advances. Had the benefit of FSV not been availed by the Bank, the specific provision against non-
performing advances for the year ending December 31, 2011 would have been higher by Rs. 3,823.874 million (cumulative upto December
31, 2011: Rs. 6,948.242 million) and profit after tax for the year ending December 31, 2011 would have been lower by approximately
Rs. 3,823.874 million (cumulative upto December 31, 2011: Rs. 5,854.713 million). Increase in profit would not be available for the
distribution of cash and stock dividend to shareholders.
12.5 Particulars of provision against non-performing advances
2011 2010
Note Specific General Total Specific General Total
(Rupees '000')
Opening balance 22,826,463 952,076 23,778,539 15,746,457 232,894 15,979,351

Charge for the year 5,754,521 – 5,754,521 10,603,469 804,406 11,407,875
Reversals (2,729,510) (669,937) (3,399,447) (1,450,127) (85,224) (1,535,351)
3,025,011 (669,937) 2,355,074 9,153,342 719,182 9,872,524
Amounts written off 12.6.1 (2,505,915) – (2,505,915) (2,073,336) – (2,073,336)
Closing balance 23,345,559 282,139 23,627,698 22,826,463 952,076 23,778,539
12.5.1 Particulars of provision against

non-performing advances - currency wise
In local currency 23,345,559 282,139 23,627,698 22,826,463 952,076 23,778,539
In foreign currencies – – – – – –
23,345,559 282,139 23,627,698 22,826,463 952,076 23,778,539

Note 2011 2010

(Rupees '000')
12.6 Particulars of write offs:
12.6.1 Against provisions 2,505,915 2,073,336

Directly charged to profit and loss account 15,802 53,359
2,521,717 2,126,695
12.6.2 Write offs of Rs. 500,000 and above 12.7 254,056 222,174
Write offs of below Rs. 500,000 12.7 2,267,661 1,904,521
2,521,717 2,126,695
12.7 Details of loan write offs of Rs. 500,000 and above
In terms of sub-section (3) of section 33A of the Banking Companies Ordinance, 1962, the statement in respect
of written off loans or any financial relief of five hundred thousand rupees or above allowed to person(s) during
the year ended December 31, 2011 is given in Annexure 1. However, this write off does not affect the Bank's
right to recover the debts from any customers.
12.8 Particulars of loans and advances to directors, associated companies etc.
Debts due by directors, executives or officers of the Bank or any of them either severally or jointly with any other
persons:
Balance at the beginning of the year 1,401,728 1,347,471

Additions during the year 594,180 621,481
Balance at the end of the year 1,218,120 1,401,728
Debts due by subsidiary companies, controlled firms, managed modarabas and other related parties
Balance at the beginning of the year 29,797 –

Loans granted during the year 85,381 53,170
Balance at the end of the year 24,997 29,797
13. OPERATING FIXED ASSETS
Capital work in progress 13.1 162,308 59,678

Property and equipment 13.2 2,560,555 2,692,025
2,722,863 2,751,703
13.1 Capital work in progress
Civil works 1,123 49,652

Equipment and electrical work 154,980 2,431
Advances to suppliers and contractors – 2,460
Advance for computer software 6,205 4,114
Others – 1,021
162,308 59,678

13.2 Property and Equipment
2011

As at As at Accumulated For the Accumulated value as at depreciation
Annual Report 2011

01, 2011 (deletions) Transfer (write - offs) 31, 2011 01, 2011 (on deletions) Transfer (write-offs) 31, 2011 31, 2011 per annum
(Rupees '000')
Freehold land 336,617 – – – 336,617 – – – – – 336,617

Leasehold land 13.2.3 1,064,456 – – – 1,064,456 15,634 – – – 15,634 1,048,822
Furniture and fixtures 242,677 7,911 – – 247,270 112,286 22,481 – – 133,135 114,135 10%
(2,866) (452) (1,587) (45)
computer equipment 1,361,033 62,473 – – 1,418,057 963,450 176,465 720 – 1,135,385 282,672 10% to 33%
(5,449) (5,250)
Vehicles 49,959 4,392 – – 53,516 27,889 8,135 – – 35,189 18,327 20%
(835) (835)
Leasehold Improvements 756,810 76,949 – – 833,516 520,476 36,108 – – 556,393 277,123 10%
(243) (191)
4,553,955 151,725 (452) – 4,695,835 1,861,930 280,538 675 – 2,135,280 2,560,555
(9,393) (7,863)
13.2.1 Included in cost of property and equipment are fully depreciated items still in use having cost of Rs. 949.233 million (2010: Rs. 748.266 million).
13.2.2 Carrying amount of temporarily idle property is Rs. 891.219 million (2010: Rs. 910.138 million).
13.2.3 This includes a plot of land costing Rs. 361 million in Block-6, KDA Scheme-5, Clifton, Karachi (the “Plot”), possession of which was taken by the Bank
(formerly PICIC) in April 1983 pursuant to an allotment order by City District Government Karachi (“CDGK”) (formerly Karachi Development Authority). All
the legal dues in respect of the Plot including Non-utilization Fees have been paid. In 2000, CDGK cancelled the allotment unilaterally based on certain
building and construction restrictions. The Bank filed a Civil Suit against CDGK before the High Court of Sindh in respect of the said unilateral cancellation
of the allotment. Meanwhile, also in 2000, a dispute arose with KPT in respect of construction of a boundary wall on the Plot by KPT as KPT claimed that
the land had been reverted to KPT. The said claim by KPT was also challenged by way of Civil Suit before the High Court of Sindh. The High Court of Sindh
initially issued restraining orders against CDGK and KPT in the respective suits in respect of cancellation of the allotment of the Plot. Subsequently, both
the suits were decided in favor of the Bank. In the suit filed against CDGK, the High Court of Sindh held that the action of cancellation of the allotment by
CDGK was improper and void, whereas, in the suit against KPT, the High Court of Sindh held that since allotment in favor of the Bank was valid therefore,
KPT had no standing to claim that the land had been reverted back to KPT. Both the decisions of the High Court of Sindh are currently being challenged
in two separate High Court Appeals by CDGK and KPT and the same are still pending. Furthermore, in November 2008, KPT filed a Civil Suit seeking a
declaration from the High Court of Sindh to the effect that the Plot had been validly reverted to KPT. At present, the Bank is actively defending the case.
135
2010
136
As at As at Accumulated For the Accumulated value as at depreciation
Particulars January Additions / December as at January year / as at December December %
01, 2010 (deletions) Transfer (write - offs) 31, 2010 01, 2010 (on deletions) Transfer (write-offs) 31, 2010 31, 2010 per annum
(Rupees '000')
Freehold land 336,617 – – – 336,617 – – – – – 336,617

Leasehold land 1,064,456 – – – 1,064,456 15,634 – – – 15,634 1,048,822
Furniture and fixtures 241,795 21,794 825 (16,278) 242,677 98,859 23,602 1,571 (9,029) 112,286 130,391 10%
(5,459) (2,717)
computer equipment 1,373,042 115,355 (8,747) (113,171) 1,361,033 849,792 229,983 (2,282) (109,361) 963,450 397,583 10% to 33%
(5,446) (4,682)
Vehicles 54,785 39 – (2,332) 49,959 23,037 8,978 – (2,332) 27,889 22,070 20%
(2,533) (1,794)
Leasehold Improvements 957,151 54,762 7,252 (261,252) 756,810 624,343 96,418 1,920 (201,400) 520,476 236,334 10%
(1,103) (805)
4,770,249 191,950 (670) (393,033) 4,553,955 1,798,779 394,062 1,209 (322,122) 1,861,930 2,692,025
(14,541) (9,998)
13.2.4 Detail of disposal of property and equipment during the year

Description Cost Accumulated Book Sale Mode of disposal Particulars of buyer
depreciation value proceeds

(Rupees '000')
– Vehicles 835 835 – 493 EX-PICIC SERVICES RULS TAHSIN AHMED MAHMUDI
835 835 – 493

Items individually having cost less than Rs.1 million or net book value not exceeding Rs. 0.25 million
– Computer Equipment 2,160 2,140 20 291

– Furniture and fixtures 2,866 1,587 1,279 1,857
– Leasehold improvements 243 191 52 639
– Office equipment 3,289 3,110 178 823
8,558 7,028 1,529 3,610
2011 9,393 7,863 1,529 4,103

2010 14,541 9,998 4,543 5,007
Annual Report 2011

14. INTANGIBLE ASSETS
2011
C O S T AMORTIZATION / IMPAIRMENT Net Book Rate of
As at As at Accumulated Amortization Accumulated Value as at amortization
January December as at January for the as at December December %
Particulars 01, 2011 Additions Transfers 31, 2011 01, 2011 year Transfers 31, 2011 31, 2011 per annum
Annual Report 2011

(Rupees '000')
Core Deposit Relationships 2,489,453 – 2,489,453 792,098 226,314 – 1,018,412 1,471,041 9.09%
Core Overdraft / Working
Capital Loan Relationships 124,149 – 124,149 73,953 6,693 – 80,646 43,503 9.09%
Brand 204,116 – 204,116 142,883 40,822 – 183,705 20,411 20%
Computer Software 835,662 7,833 – 843,495 223,436 96,705 (720) 319,421 524,074 10% to 50%
Management Rights 1,726,726 – 1,726,726 – – – – 1,726,726 Note 6.8
5,380,106 7,833 – 5,387,939 1,232,370 370,534 (720) 1,602,184 3,785,755
14.1 Included in cost of computer software are fully amortized items still in use having cost of Rs. 102.952 million (2010: Rs. 88.359 million).
2010
C O S T AMORTIZATION / IMPAIRMENT Net Book Rate of
As at As at Accumulated Amortization Accumulated Value as at amortization
January Adjust- December as at January for the Adjust- as at December December %
Particulars 01, 2010 Additions Transfers ments (Write offs) 31, 2010 01, 2010 year Transfers ments (Write offs) 31, 2010 31, 2010 per annum
(Rupees '000')
Goodwill 25,261,472 – – (25,261,472) – – 1,040,000 – – (1,040,000) – – –

Core Deposit Relationships 2,489,453 – – – – 2,489,453 565,784 226,314 – – – 792,098 1,697,355 9.09%
Core Overdraft / Working
Capital Loan Relationships 124,149 – – – 124,149 67,260 6,693 – – – 73,953 50,196 9.09%
Brand 204,116 – – – – 204,116 102,060 40,823 – – – 142,883 61,233 20%
Computer Software 767,638 95,186 670 – (27,832) 835,662 128,453 97,889 (1,209) – (1,697) 223,436 612,226 10% to 50%
Management Rights 1,726,726 – – – – 1,726,726 – – – – – – 1,726,726 Note 6.8
30,573,554 95,186 670 (25,261,472) (27,832) 5,380,106 1,903,557 371,719 (1,209) (1,040,000) (1,697) 1,232,370 4,147,736
14.2 Goodwill
From an accounting perspective, at the time of the acquisition and merger of Pakistan Industrial Credit and Investment Corporation Limited (PICIC)
and PICIC Commercial Bank Limited (PCBL) into the Bank, goodwill of Rs. 25,261 million was created on the books of the Bank, which reflected the
value that was paid for the PICIC and PCBL shares over the fair value of net assets. It is the Bank's view that it will derive substantial value from
businesses, customers and the branch network acquired in the merger with PICIC and PCBL. Under the new strategies, this value will be derived
more from the liabilities side of the business as opposed to the assets side. As the original intent of how value would be derived has been changed
for now the Bank has decided to adjust the Goodwill that it is carrying on the books in a manner that is consistent with its new business realities.
Consequently in 2010, the Bank has adjusted the full amount of the goodwill appearing in its books at Rs. 24,221 million directly into equity and the
137
State Bank of Pakistan has indicated its No Objection to this accounting treatment.
14.3 Annual test for impairment

Intangibles
In the current year, the Group assessed the recoverable amount of core overdraft / working capital loan
relationships, core deposit relationships, brand and management rights. The Group has determined that no
impairment loss exists.
Note 2011 2010
(Rupees '000')
15. DEFERRED TAX ASSETS
Provision against loans and advances 8,880,336 7,329,965
Provision against other receivables 254,851 285,269
Provision against balances with other banks – 1,387
Gratuity – 7,488
Unused tax losses 3,699,934 2,777,890
Intangibles 25,911 35,834
investments over accounting base 430,836 325,521
13,291,868 10,763,354
Excess of accounting base of leased asset over tax base (140,383) (116,322)
Accelerated accounting depreciation on owned assets (732,089) (738,372)
Fair valuation of subsidiaries and associates (568,601) (532,714)
Surplus / (Deficit) on revaluation of securities (39,648) 55,299
Unrealised exchange gains 15.2 (2,377) (2,377)
Unrealised exchange losses 15.3 (33,604) (33,604)
(1,516,702) (1,368,090)
Deferred tax Assets 11,775,166 9,395,264
Unrecognised deffered tax assets 15.1 (817,000) –
Recognised deffered tax assets 10,958,166 9,395,264
15.1 The deferred tax asset recognised in the books have been restriced to Rs. 10,958.166 million due to uncertainty
of availablity of future tax profits for utilization of the unrecognised deferred tax assets. The deductible differences
available to the Bank are Rs. 11,775.166 million. Had these been taken completely, the profit after tax would be
higher by Rs. 817 million.
The management has recorded deferred tax asset based on financial projections indicating realisibility of deferred
tax asset over a number of future years through reversals as a result of recoveries from borrowers and realisibility
of remaining deferred tax asset against future taxable profits. The financial projections involve certain key
assumptions such as deposits composition, interest rates, growth of deposits and advances, investment returns
and potential provision / reversals against assets. Any significant change in the key assumptions may have an
effect on the realisibility of the deferred tax asset.
15.2 In 1987 and 1989, the Bank (formerly PICIC) exercised its option to avail the exchange risk coverage offered
by the Government of Pakistan, Ministry of Finance and Economic Affairs (Economic Affairs Division), through
Office Memo 1(16)/50/DM/86 dated July 8, 1987 and 1(12)/50/DM/89 dated June 1, 1989 respectively and, in
turn the Bank (formerly PICIC) offered the risk coverage to its Borrowers.
15.3 The unrealised exchange losses of the Bank (formerly PICIC) as on April 21, 1987, the effective date of exercise
of both the options arising on related borrowings as reduced by gains arising on related advances was claimed
as loss for tax purposes.

15.4 Movement in temporary differences during the year

2011
Deferred debits arising due to: (Rupees '000')

Provision against loans and advances 7,329,965 1,550,371 – 8,880,336
Provision against other receivables 285,269 (30,418) – 254,851
Provision against balances with other banks 1,387 (1,387) – –
Gratuity 7,488 (7,488) – –
Unused tax losses 2,777,890 922,044 – 3,699,934
Intangibles 35,834 (9,923) – 25,911
Excess of tax base of government securities
/ investments over accounting base 325,521 105,330 (15) 430,836
asset over tax base (116,322) (24,061) – (140,383)
Accelerated accounting
depreciation on owned assets (738,372) 6,283 – (732,089)
Surplus / Deficit on revaluation of securities 55,299 – (94,947) (39,648)
Unrealised exchange gains (2,377) – – (2,377)
Unrecognised deferred tax assets – (817,000) – (817,000)
2010
Recognised
in equity /
others
(Rupees '000')
Provision against loans and advances 6,393,933 1,287,791 (351,759) 7,329,965
Provision against other receivables 281,314 3,955 – 285,269
Provision against balances with other banks 1,387 – – 1,387
Gratuity 14,762 (7,819) 545 7,488
Unused tax losses 731,227 1,694,904 351,759 2,777,890
Intangibles 60,046 (24,212) – 35,834
Excess of tax base of government securities
/ investments over accounting base 350,877 (25,371) 15 325,521
asset over tax base (218,511) 102,189 – (116,322)
Accelerated accounting
depreciation on owned assets (714,195) (24,177) – (738,372)
Surplus / Deficit on revaluation of securities 71,495 – (16,196) 55,299
Unrealised exchange gains (6,007) – 3,630 (2,377)
Unrecognised deferred tax assets – – – –

Note 2011 2010
16. OTHER ASSETS (Rupees '000')
Income / mark-up accrued

Local currency 16.1 & 16.6 2,590,768 3,272,010
Advances, deposits, advance rent and other prepayments 16.2 419,875 430,162
Advance taxation - net 1,301,702 1,222,471
Non - banking assets acquired in satisfaction of claims 16.3 701,067 541,913
Unrealized gain on forward exchange contracts - net 79,483 –
Receivable against sale of investments – 18,928
Stationery and stamps on hand 2,009 3,279
Branch adjustment account – 106,579
Advance for purchase of term finance certificates 383,856 285,000
Assets in respect of Bangladesh 16.4 425,409 425,409
Insurance claim 16,410 156,298
Management fee receivable 18,643 2,250
Others 71,429 73,895
6,035,185 6,567,755
Liabilities in respect of Bangladesh 16.4 (342,416) (342,416)
Rupee Borrowings from Government of Pakistan in
respect of Bangladesh (82,993) (82,993)
Provisions held against other assets 16.5 (1,021,625) (890,883)
Other assets - net of provisions 4,588,151 5,251,463
16.1 This includes Rs. 1.024 million (2010: Rs. 1.027 million) in respect of related parties.
16.2 Advances, deposits, advance rent and other prepayments

Advances 43,515 41,806
Deposits 33,060 39,534
Advance rent 252,635 249,071
Prepayments 90,665 99,751
419,875 430,162
16.3 Represents cost of land, plant and machinery acquired by the Bank against advances and held for resale. The market
value of the subject assets as of December 31, 2011 was Rs. 611.403 million (2010: Rs. 560 million). Provision of Rs.
105.913 million has been made against difference between cost and fair value.
16.4 All the assets and liabilities as of November 30, 1971 clearly identifiable as being in or in respect of the areas now under
Bangladesh and referred to above were segregated as of that date and in such segregation, for purposes of conversion
of foreign currency amounts, generally speaking, the parity rates ruling prior to August 15, 1971 were used, and all
income accrued or due in 1971 but not received in that year and interest accrued but not due on borrowings in 1971
was eliminated. Subsequently, consequent to the assuming by Bangladesh of certain foreign currency loan obligations
as of July 1, 1974, including amounts previously identified by the Bank (formerly PICIC) as its foreign currency liabilities
in respect of Bangladesh, such amounts were eliminated from the books of the Bank (formerly PICIC) by reducing an
equivalent sum from its related foreign assets in that area.
Arising from advices received from the lenders and as a result of diversion of shipments and of the meeting of certain
contingent liabilities, there have been certain modifications to the foreign currency advances relating to Bangladesh.
Furthermore, the difference between the actual amount of rupees required to remit maturities of foreign currency borrowings

in respect of Bangladesh and the figures at which they appeared in the books and the interest paid to foreign lenders
has been treated as increasing the rupee assets in that area.
The Government of Pakistan, while initially agreeing to provide the rupee finance required for discharging current maturities
of foreign currency borrowings and interest related to Bangladesh, did not accept any responsibility for PICIC’s assets
in that area. However, following an agreement reached between PICIC and the Government of Pakistan during 1976,
the Government has agreed that it would continue to provide the funds for servicing PICIC’s foreign currency liabilities
relating to Bangladesh and has further agreed that an amount equivalent to the rupee assets in Bangladesh financed
from PICIC’s own funds not exceeding Rs. 82 million would be deemed to have been allocated out of the rupee loans
by the Government and that such allocated amount together with the rupee finance being provided by the Government
including any interest thereon would not be recovered from PICIC until such time as PICIC recovers the related assets
from Bangladesh and only to the extent of such recovery.
Accordingly, such allocated amounts, together with the rupee finance being provided by the Government for discharging
the current maturities of foreign currency borrowings (including the interest and charges thereon and any exchange
difference between the final rupee payment and the amount at which the liability, commitment or contingent liability as
appearing in the books relating to Bangladesh) have been treated as liabilities in respect of Bangladesh. Further, in view
of the aforesaid agreement no interest is being accrued on the allocated amount of rupee loans or in respect of the rupee
finance provided by the Government related to PICIC’s assets in Bangladesh nor is it considered necessary to provide
for any loss that may arise in respect of PICIC’s assets in Bangladesh.
Note 2011 2010
(Rupees '000')
16.5 Particulars of provisions held against other assets
Reversals (15,610) (31)
Write offs (45,859) –
16.6 This includes a sum of Rs. 30.466 million (2010: Rs. 30.466 million) representing unrealised exchange gain, which
has not been recognised as income and deferred in the financial statements, in accordance with the policy of the
Bank, as stated in note 6.16.
2011 2010
(Rupees '000')
17. BILLS PAYABLE
In Pakistan 1,660,205 1,266,884
1,738,422 1,335,493
18. BORROWINGS
In Pakistan 47,262,148 42,320,085
47,382,031 42,361,934
18.1 Particulars of borrowings with respect to currencies

In foreign currencies 119,883 41,849
47,382,031 42,361,934

Note 2011 2010

18.2 Details of borrowings - secured / unsecured (Rupees '000')
Secured
Borrowings from SBP under
Export Refinance Scheme 18.3 8,122,798 10,956,241
Long Term Financing Facility 18.4 416,857 261,962
Long Term Finance for Export Oriented Projects 18.5 1,197,381 1,683,880
Repurchase agreement borrowings 18.6 & 18.6.1 37,350,826 22,869,493
Unsecured
Call borrowings 18.7 12,000 6,059,036
Overdrawn nostro accounts 119,883 41,849
Foreign borrowings payable in local currency 18.8 162,286 162,286
Trading liabilities – 327,187
47,382,031 42,361,934
18.3 Borrowings from SBP under Export Refinance Scheme are subject to mark-up at rate of 10% (2010: 8.50% to 9.00%)
per annum maturing within six months.
18.4 Borrowings from SBP under Long Term Financing Facility (LTFF) are subject to mark up ranging from 6.50% to 8.20%
(2010: 6.50% to 8.20%) per annum maturing within ten years.
18.5 Borrowings from SBP under Long Term Finance for Export Oriented Projects are subject to mark up ranging from
4.90% to 5.00% (2010: 4.00% to 5.00%) per annum maturing within five years.
18.6 These borrowings are subject to mark-up at rates ranging from 11.63% to 11.90% (2010: 12.51% to 13.90%) per
annum maturing within sixteen days. Government securities have been given as collateral against these borrowings.
18.6.1 This includes Rs. 100 million outstanding as at December 31, 2011, which was borrowed from a Company in 2004
against pledge of a PIB. As the lender had failed to return the pledged PIB upon the maturity of the contract period,
this amount is appearing as a pending transaction with a corresponding amount appearing as investment in PIBs.
No interest is accrued either as expense on this borrowing or as income from the PIB since the filing of the dispute
18.7 These borrowings are subject to mark-up at rate of 11.25% (2010: 12.15% to 13.40% ) per annum with remaining
maturity of three days.
18.8 The Government of Pakistan (GoP) has claimed an amount of Rs. 162.286 million in respect of liabilities against
German credit representing principal amount of loan and Rs. 45.444 million as interest thereon till June 30, 2006. The
principal amount has been accounted for and shown as payable to the GoP whereas interest has been accounted
for in Other Liabilities (note 20). However, the Bank is contending that any amount of principal and interest is payable
to the GoP only when recovered from the related sub-borrowers, who have availed the German credit. This also
includes unrealized exchange loss of Rs. 96.011 million (2010: Rs. 96.011 million) which has been netted off against
unrealized exchange gain (note 16) as it is payable when recovered from sub-borrowers, who have availed the related
German credit.
2011 2010
19. DEPOSITS AND OTHER ACCOUNTS (Rupees '000')
Customers
Fixed deposits 32,769,500 39,939,138
Savings deposits 26,112,772 29,087,951
Current accounts - Non remunerative 25,169,484 24,120,456
Margin accounts 568,088 532,237
Financial institutions
Remunerative deposits 606,032 5,104,496
Non-remunerative deposits 246,371 327,463
85,472,247 99,111,741

2011 2010
(Rupees '000')
19.1 Particulars of deposits
85,472,247 99,111,741
20. SUB-ORDINATED LOANS
Term Finance Certificates - Quoted, Unsecured 3,994,400 3,996,000
Mark-up Floating (no floor, no cap) rate of return at Base Rate +1.15% [The Base Rate is defined as
the average “Ask Side” rate of the six month Karachi Interbank Offered Rate (“KIBOR”)]
Subordination The TFCs are subordinated to all other indebtedness of the Bank including deposits
Issue Date March 5, 2008
Issue Amount Rs. 4,000 million
Rating A+ (A plus)
Tenor 8 years from the Issue Date
Redemption Ten equal semi-annual instalments of 0.02% of the Issue Amount for the first sixty months
followed by six equal semi-annual instalments of 16.63% of the Issue Amount from the sixty-
sixth month onwards
Maturity March 5, 2016
Call Option The Bank can also exercise a Call Option or a Partial Call Option after obtaining written
approval from the State Bank of Pakistan at any time after a period of sixty months from the
Issue Date
Note 2011 2010

(Rupees '000')
21. OTHER LIABILITIES
Mark-up / return / interest payable in:
Local currency 817,085 1,304,830
Unearned income on inland bills – 10,135
Accrued expenses 638,781 1,020,516
Insurance premium payable 33,143 55,371
Advance from lessees 155,343 135,850
Unclaimed dividend 44,965 45,051
Borrowing from Government of Pakistan 2,095 2,095
Branch adjustment account 23,333 –
Unrealized exchange loss - net – 43,386
Security and other deposits 25,846 29,408
Payable to IBRD - Managed Fund 68,220 68,220
Payable against purchase of investments 2,198 18,443
Payable to Workers Welfare Fund 15,972 18,073
Payable to defined benefit plan 35.5 & 35.9 77,515 77,671
Security deposits against lease 528,493 754,435
Others 136,681 272,307
2,574,241 3,866,958

22. SHARE CAPITAL
22.1 Authorized
2011 2010 2011 2010

Number of shares (Rupees ‘000’)
12,000,000,000 5,000,000,000 Ordinary shares of Rs. 10 each 120,000,000 50,000,000
22.2 Issued, subscribed and paid up
Fully paid up ordinary shares of Rs. 10 each
3,278,902,659 3,278,902,659 Fully paid in cash 32,789,027 32,789,027
Issued for consideration

other than cash (under
764,824,417 764,824,417 schemes of amalgamation) 7,648,244 7,648,244
6,259,124,088 – Issuance of shares on discount 62,591,241 –
10,302,851,164 4,043,727,076 103,028,512 40,437,271
22.2.1 The holding Company Bugis Investments (Mauritius) Pte. Limited holds 9,132,728,598 (December 31, 2010: 2,995,744,425)
ordinary shares.
(Number of shares)
22.2.2 Reconciliation of number of ordinary shares of Rs. 10 each
At the beginning of the year 4,043,727,076 4,043,727,076

Right issue during the year at discount 6,259,124,088 –
At the end of the year 10,302,851,164 4,043,727,076
2011 2010
(Rupees ‘000’)
23. DEFICIT ON REVALUATION OF ASSETS - NET
Deficit on revaluation of available-for-sale securities

Pakistan Investment Bonds (39,243) (184,648)
Mutual Funds 1,263 36,545
Investment in Shares of Listed Companies 25,885 143,882
132,082 (54,622)
Share of deficit on revaluation of securities of associates (572,029) (360,301)
(439,947) (414,923)
Related deferred tax asset / (liability) (39,648) 55,299
(479,595) (359,624)

2011 2010
(Rupees ‘000’)
24. CONTINGENCIES AND COMMITMENTS
24.1 Direct credit substitutes
Contingent liability in respect of guarantees given favouring:
Government – 63,116
Others – –
– 63,116
24.2 Transaction-related contingent liabilities / commitments
Guarantees given in favour of:
Government 10,782,678 8,138,146

Financial Institutions 92,000 500,856
Others 514,510 714,525
11,389,188 9,353,527
24.3 Trade-related contingent liabilities
Letters of credit 11,720,785 7,919,441

Acceptances 2,253,467 1,067,720
13,974,252 8,987,161
24.4 Other contingencies
Claims against the Bank not acknowledged as debts 266,133 390,783
24.5 Commitments in respect of forward lending
Commitments to extend credit 1,034,140 314,372
The Bank makes commitments to extend credit in the normal course of its business but none of these commitments
are irrevocable and do not attract any significant penalty or expense if the facility is ultimately withdrawn except
commitments mentioned above.
24.6 Commitments in respect of forward exchange contracts
Purchase 56,859,837 66,004,625

Sale 58,787,111 67,312,030
115,646,948 133,316,655
24.7 Commitments for the acquisition of operating fixed assets 44,008 86,310
24.8 Commitments in respect of derivatives
Forward Purchase of Government Securities 487,600 –

Forward Sale of Government Securities 47,683 –

24.9 Tax contingencies

The tax returns of income of NIB Bank Limited have been filed up to and including tax year 2011 relevant to the
financial year ended December 31, 2010. The tax authorities have made certain disallowances including additions
on account of proration of expenses against dividends and capital gains, disallowances of interest and administrative
expenses and renovation expenses incurred on rented premises (allowed historically) pertaining to tax years 2003
through 2008 for Ex-Pakistan Industrial Credit and Investment Corporation Limited (Ex-PICIC), from tax years 2004
through 2008 for Ex-PICIC Commercial Bank Limited (Ex-PCBL), tax years 2003 and 2004 for Ex-National Development
Leasing Corporation Limited (Ex-NDLC) and from tax years 2004 through 2008 for NIB Bank Limited. These
disallowances may result in additional tax aggregating to Rs. 1,370 million (2010: 1,370 million), which the
management of the Bank in discussion with their tax consultants believes to be unjustified and not in accordance
with the true interpretation of the law.
Appeals filed against orders are pending at various appellate forums. Management is confident that the eventual
outcome of the cases will be in favour of the Bank.
2011 2010
(Rupees ‘000’)
25. MARK-UP / RETURN / INTEREST EARNED

On loans and advances to customers 7,718,970 10,219,090
On investments in:
Available-for-sale securities 4,980,398 4,595,211
Held-to-maturity securities 463,751 463,487
On deposits with financial institutions 5,073 10,947
On securities purchased under resale agreements 989,740 1,094,491
On call money lendings 92,189 99,541
14,250,121 16,482,767
26. MARK-UP / RETURN / INTEREST EXPENSED

Deposits and other accounts 6,937,345 7,159,606
Securities sold under repurchase agreements 3,023,491 3,342,862
Other short term borrowings 1,506,903 2,312,127
Long term borrowings 687,874 652,931
12,155,613 13,467,526
27. GAIN ON SALE OF SECURITIES

Pakistan Investment Bonds 29,846 (8,185)
Ordinary shares of Listed Companies 8,924 292,514
Units / Certificates of Mutual Funds 43,612 5,415
Others 20,456 8,068
273,144 307,541

Note 2011 2010

(Rupees '000')
28. OTHER INCOME

Gain on disposal of property and equipment 2,574 464
Service charges 7,007 10,654
Rent income 3,274 3,262
Gain on trading liabilties – 3,417
Income from non-banking assets and profit from
sale of / or dealing with such assets – 10,551
Others 9,999 –
22,854 28,348
29. ADMINISTRATIVE EXPENSES

Salaries, allowances, etc. 2,123,187 3,766,972
Charge for defined benefit plan 35.4 & 35.9 25,633 26,054
Contribution to defined contribution plan 83,552 123,298
Non-executive directors' fees, allowances and other expenses 10,547 7,239
Brokerage and commission 52,190 44,530
Rent, taxes, insurance, electricity, etc. 886,309 974,062
Legal and professional charges 70,683 204,108
Communications 163,215 212,092
Repairs and maintenance 281,306 286,185
Stationery and printing 69,174 82,568
Advertisement and publicity 70,885 27,605
Fees and subscriptions 84,077 77,687
Auditors' remuneration 29.1 9,335 8,837
Depreciation 13.2 280,538 394,062
Amortization 14 370,534 371,719
Travelling, conveyance and vehicles running 34,156 33,522
Security services 120,188 137,628
Others 88,073 117,980
4,823,582 7,055,824
29.1 Auditors' remuneration
Audit fee including fee for branch audit 5,057 4,936
Audit fee of consolidated financial statements 750 750
Review fee 1,100 1,100
Special certifications and sundry advisory services 1,752 1,375
Out-of-pocket expenses 676 676
9,335 8,837
29.2 No donation was paid during the year in which any of the Directors or their spouses had any interest.
30. OTHER CHARGES
Penalties imposed by the State Bank of Pakistan 56,122 135,126

Others (13,625) (13,208)
42,497 121,918

Note 2011 2010

(Rupees '000')
31. TAXATION
For the year
Current 202,619 228,733
Prior years 30,658 385,655
Deferred (1,657,864) (2,996,630)
(1,424,587) (2,382,242)
31.1 Relationship between tax expense and accounting profit

Accounting profit / (loss) for the year (3,492,009) (12,089,002)
Tax @ 35% of above (1,222,203) (4,231,151)
SBP penalty not tax deductible 19,643 47,294
Adjustment in respect of tax at reduced rate 5,651 (8,900)
Consumer & SME provision in excess of 5%
booked in June 2011 instead of December 2010 (1,085,172) 1,085,172
Unrecorded deferred tax asset due to uncertainity 817,000 _
over availability of future tax profits
General provision reversal not recognized for tax purposes (234,478) 279,583
Minimum tax based on turnover independent of loss 163,978 181,974
Tax charge for prior year 30,658 385,655
Effect of exempt income (41,322) _
Others 121,658 (121,869)
Tax charge for the year (1,424,587) (2,382,242)
32. BASIC / DILUTED EARNINGS / (LOSS) PER SHARE

Loss after taxation (Rs. in '000') (2,067,422) (9,706,760)
Weighted average number of

ordinary shares outstanding during the year (in '000') 5,998,632 4,043,727
Loss per share - basic / diluted (Rupees) (0.34) (2.40)
33. CASH AND CASH EQUIVALENTS

9,455,604 11,789,067
(Numbers)
34. STAFF STRENGTH
Permanent 2,338 2,891

Temporary / on contractual basis 34 38
Group's own staff strength at the end of the year 2,372 2,929
Outsourced 346 713
Total staff strength 2,718 3,642

35. DEFINED BENEFIT PLAN

35.1 The benefits under the gratuity scheme are payable in lumpsum on retirement at the age of 60 years or earlier cessation
of services. The benefit is equal to one month's last drawn basic salary of each year of confirmed service, subject to a
minimum of five years of service.
35.2 Principal actuarial assumptions

The actuarial valuation is carried out periodically. The actuarial valuation was carried out for the year ended December
31, 2011 using the "Projected Unit Credit Method". The main assumptions used for actuarial valuation are as follows:
Gratuity
2011 2010
- Valuation discount rate 13.0% 14.5%
- Salary increase rate 12.0% 13.5%
- Mortality rate Based on LIC 1975-79 Ultimate Mortality table
- Withdrawal rate Heavy (double of moderate) Age - Wise withdrawal rates
Note 2011 2010 2009 2008 2007

(Rupees '000')
35.3 Reconciliation of (receivable from) /
payable to defined benefit plan
Present value of defined benefit obligations 35.6 71,098 79,459 81,502 58,963 33,919
Unrecognized prior service cost – – – 1,630 3,261
Net actuarial gains/(loss) not recognized 6,181 (3,344) (7,771) (3,536) 7,326
77,279 76,115 73,731 57,057 44,506
Assumed on amalgamation – – – – (76,634)
Net liability / (receivable) 77,279 76,115 73,731 57,057 (32,128)
35.4 (Income) / charge for defined benefit plan
Current service cost 11,626 14,660 13,962 10,922 10,808
Software project expense capitalized – – (829) – –
Interest cost 11,568 10,067 6,398 3,834 2,751
Actuarial (gain) recognized – – – (303) (281)
Amortisation of prior service cost – – (1,630) (1,631) (1,631)
23,194 24,727 17,901 12,822 11,647
35.5 Movement in balance (receivable) / payable

Opening balance 76,115 73,731 57,057 (32,128) 32,859
Adjustment 1,386
Expense recognized 23,194 24,727 17,901 12,822 11,647
Software project expense capitalized – – 829 – –
Benefits paid to outgoing members (23,416) (22,343) (2,056) (271) –
77,279 76,115 73,731 (19,577) 44,506
Assumed on amalgamation – – – 76,634 (76,634)
Closing balance 77,279 76,115 73,731 57,057 (32,128)
35.6 Summary of valuation results for the current

and previous periods
Present value of defined benefit obligations 71,098 79,459 81,502 58,963 33,919
Fair value of plan assets – – – – –
Deficit 71,098 79,459 81,502 58,963 33,919
Experience (gain) / loss on obligation (8,139) (4,427) 4,235 10,559 (1,749)

2011 2010
(Rupees '000')
35.7 Reconciliation of present value of defined benefit obligations

Current service cost 11,626 14,660
Interest cost 11,568 10,067
Benefits paid (23,416) (22,343)
Actuarial loss on obligations (8,139) (4,427)
35.8 Expected contribution for the next one year

The Bank provides for gratuity as per the actuary's expected charge for the next one year. Based on actuarial advice,
management estimates that the charge in respect of the defined benefit plan for the year ending December 31, 2012
would be Rs. 18.390 million.
35.9 PICIC AMC terminated its approved funded gratuity scheme for all its permanent employees on 31 December, 2010.
The termination liability was calculated on the basis of the actuarial valuation carried out for this purpose in December
2010 using the “Projected Unit Credit Cost Method”.Termination Liability is the benefit payable as at the valuation date
based on the service & salary as at the date of valuation.
36. DEFINED CONTRIBUTION PLAN

The Group has established a provident fund scheme administered by the Board of Trustees for all permanent employees.
Equal monthly contributions are made to the Fund by both the Group and the employees @ 10% of basic salary.
37. COMPENSATION OF DIRECTORS AND EXECUTIVES
President / Chief Executive Directors Executives

2011 2010 2011 2010 2011 2010
(Rupees '000')
Fees – – 8,952 7,239 – –

Managerial remuneration 24,726 24,619 – – 480,725 804,474
Charge for defined benefit plan 2,924 2,461 – – 9,711 14,142
Contribution to defined
contribution plan 2,192 2,180 – – 43,986 57,554
Rent and house maintenance 5,850 6,097 – – 159,706 218,355
Utilities 1,671 1,742 – – 45,630 62,387
Others 30,205 1,995 – – 272,648 63,924
67,568 39,094 8,952 7,239 1,012,406 1,220,836
Number of persons *3 2 7 7 526 712
*Includes interim President and Chief Executive Officer of the Bank for 15 days in 2011.
The Presidents / Chief Executives are provided with free use of Bank maintained cars, travel and medical insurance,
security arrangements and reimbursements of household utilities, as per terms of their employment.
The Chief Executive and certain Executives of PICIC AMC are provided with free use of Company maintained cars. The
Chief Executive of PICIC AMC has also been provided with a house loan, duly approved by the SECP.
Directors fees are paid to non executive directors only.

38. FAIR VALUE OF FINANCIAL INSTRUMENTS
38.1 On-balance sheet financial instruments

2011 2010
Book value Fair value Book value Fair value
(Rupees '000')
Assets
Cash and balances with treasury banks 7,969,044 7,969,044 8,836,474 8,836,474
Balances with other banks 1,486,560 1,486,560 2,952,593 2,952,593
Lendings to financial institutions 14,666,918 14,669,815 6,429,166 6,428,069
Investments 47,786,041 47,233,525 50,209,083 48,217,093
Advances 60,861,513 60,861,513 74,583,584 74,583,584
Other assets 2,826,196 2,826,196 3,454,611 3,454,611
135,596,272 135,046,653 146,465,511 144,472,424
Liabilities
Bills payable 1,738,422 1,738,422 1,335,493 1,335,493
Borrowings 47,382,031 47,382,076 42,361,934 42,359,713
Deposits and other accounts 85,472,247 85,472,247 99,111,741 99,111,741
Sub-ordinated loans 3,994,400 3,914,796 3,996,000 3,889,706
Other liabilities 2,414,227 2,414,227 3,621,795 3,621,795
141,001,327 140,921,768 150,426,963 150,318,448
38.2 Off-balance sheet financial instruments

Forward purchase of foreign exchange 56,859,837 57,548,407 66,004,625 65,049,598
Forward sale of foreign exchange 58,787,111 59,591,144 67,312,030 66,429,843
Fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable
willing parties in an arm’s length transaction.
Fair values of held-to-maturity securities, sub-ordinated loans and investment in quoted associates have been
stated at market values.
Fair value of unquoted equity securities have been stated at the lower of cost and Net Assets Value as per the
latest available audited financial statements.
Except for investment in unquoted subsidiaries, fixed term advances of over one year, staff loans and fixed term
deposits of over one year, the fair value of other on balance sheet financial assets and liabilities are not significantly
different from their book value as these assets and liabilities are either short term in nature or are frequently re-
priced.
The fair value of unquoted subsidiaries, fixed term advances, staff loans, fixed term deposits, other assets and
other liabilities cannot be calculated with sufficient reliability due to non-availability of relevant active markets for
similar assets and liabilities.

39. SEGMENT DETAILS WITH RESPECT TO BUSINESS ACTIVITIES

The Group comprises the Bank, PICIC Asset Management Company and PICIC Stock Fund. The Bank is organised into
reportable segments as disclosed in note 6.20.1. These segments are managed by respective segment heads and
the results of these segments are regularly reviewed by the Group's President / Chief Executive. Segment performance
is reviewed on the basis of various factors including profit before taxation. The performance of the PICIC Asset Management
Company and PICIC Stock Fund is included in Head Office / Others.
Transactions between reportable segments are carried out on an arms length basis.
The segment analysis with respect to business activity is as follows:

Corporate and Small & Medium
Investment Enterprises and Retail Treasury Head Office / *Adjustments
Banking Commercial Other
(Rupees '000')
Net Interest Income (605,465) (621,777) 3,515,414 (387,463) 193,799 –
Non Funded Income including share of
income of associates 374,158 135,492 350,450 839,833 328,229 –
Net Interest and non mark-up Income (231,307) (486,285) 3,865,864 452,370 522,028 –

(excluding Impairment) 799,676 886,360 5,405,275 173,981 170,474 –
Impairment against Investment 52,703 – – 118,721 7,489 –
Total expenses including provisions 852,379 886,360 5,405,275 292,702 177,963 –
Segment Net income/ (loss) before tax (1,083,686) (1,372,645) (1,539,411) 159,668 344,065 –
Net Interest Income (198,579) (215,919) 3,771,921 (248,521) (93,661) –

Non Funded Income including share of
income of associates 320,382 183,957 306,493 673,585 789,317 –
Net Interest and non markup Income 121,803 (31,962) 4,078,414 425,064 695,656 –
(excluding Impairment) 2,738,512 5,080,278 7,648,615 166,708 1,628,730 –
Impairment against Investment – – – 115,134 – –
Total expenses including provisions 2,738,512 5,080,278 7,648,615 281,842 1,628,730 –
Segment Net income / (loss) before tax (2,616,709) (5,112,240) (3,570,201) 143,222 (933,074) –

Segment Provision
(including general provisions) 14,965,673 6,876,818 1,589,256 – 195,951 –
Segment Liabilities 40,802,879 22,740,530 80,501,374 53,091,254 44,214 (56,018,910)

Segment Provision
(including general provisions) 14,712,848 6,415,309 2,524,598 – 125,784 –
Segment Liabilities 46,112,224 23,016,713 79,530,605 41,401,559 5,030,613 (44,419,588)
* The respective segment assets and liabilities incorporate intersegment lending and borrowing, with appropriate
transfer pricing. The adjustments column eliminates intersegment lending and borrowing.

40. RELATED PARTY TRANSACTIONS
The Group has related party transactions with its holding company (refer note 1), unconsolidated subsidiary, (refer note 11.12), associated
undertakings (refer note 11.11), employee benefit plans (refer note 35), and its key management personnel.
Transactions with related parties are executed on the same terms as those prevailing at the time for comparable transactions with unrelated
parties.
The detail of transactions with related parties is given below:
Annual Report 2011

Holding company Unconsolidated Associates Key management Other related
subsidiary personnel parties
2011 2010 2011 2010 2011 2010 2011 2010 2011 2010
(Rupees '000')
40.1 Balances outstanding as at the year end
Advances
At the beginning of the year – – – – – – 119,711 172,906 29,797 –
Addition during the year – – – – – – 58,669 63,918 85,381 53,170
Repaid during the year – – – – – – (41,993) (117,113) (90,181) (23,373)
At the end of the year – – – – – – 136,387 119,711 24,997 29,797
Deposits
At the beginning of the year 58,350 66,305 – – 543,226 1,135,995 23,898 7,781 308,875 262,462
Deposits during the year 12 – – – 29,676,785 15,952,374 274,917 294,683 7,558,714 5,064,335
Exchange difference 1,042 381 – – – – – – 4,099 –

Withdrawal during the year (16,751) (8,336) – – (29,921,260) (16,344,171) (256,043) (278,566) (7,765,641) (5,017,922)
At the end of the year 42,653 58,350 – – 298,751 543,226 42,772 23,898 106,047 308,875
Investment in shares / mutual funds - cost
At the beginning of the year – – 724 724 4,102,774 3,052,301 – – 151,815 184,146
Investments made during the year – – – – 4,439,221 1,142,799 – – 145,740 7,286
Investments sold during the year – – – – (4,389,000) (153,879) – – (138,669) (39,617)
Equity accounting method adjustments – – – – (587,007) 275,282 – – – –
At the end of the year – – 724 724 3,565,988 4,102,774 – – 158,886 151,815
Investment in Term Finance Certificates-cost
At the end of the year – – – – – – – – 1,102,224 978,687
Receivables
At the end of the year 626 117 – – 23,677 6,425 – – 928 5,891
Insurance claim receivable
At the end of the year – – – – – 50,000 – – – –
Payables
At the end of the year – 738 – – – – – – 354 354
153
154
Holding Unconsolidated Associates Key management Other related
company subsidiary personnel parties
2011 2010 2011 2010 2011 2010 2011 2010 2011 2010
(Rupees '000')
Brokerage payable
At the end of the year – – – – – – – – 49 104
Payable to Directors
At the end of the year – – – – – – – – – 174
Insurance premium payable
At the end of the year – – – – 4,691 4,691 – – – –
Sub-ordinated loans
At the end of the year – – – – – – – – – 49,950
Advance against proposed rights issue _ 6,352,360 – – – – – – – _
40.2 Income / expense for the year

Mark–up / return / interest earned on advances – – – – – _ 5,676 6,573 2,296 2,240
Mark–up / return / interest expensed on deposits – – – – 126,254 102,446 659 770 85,788 48,849
Mark–up / return / interest earned on
Term Finance Certificates – – – – – – – – 171,638 91,251
Dividend income from Shares / Mutual Funds – – – – 426,572 62,313 – – 3,657 3,675
Brokerage expense – – – – – – – – 1,482 3,131

Directors remuneration – – – – – – – – 8,952 7,239
Directors travelling expense 2,834 3,418 – – – – – 210 127 184
Insurance premium expense – – – – 2,112 2,267 – – – –
Remuneration to key management personnel – – – – – – 171,537 166,276 – –
Contribution to Provident Fund – – – – – – – – 85,285 116,988
Mark-up expense on sub–ordinated loans – – – – – – – – 3,703 6,862
Management fee earned – – – – 267,660 262,640 – – – –
Annual Report 2011

41. CAPITAL-ASSESSMENT AND ADEQUACY

41.1 Scope of Application
Capital Adequacy Ratio (CAR) has been calculated in accordance with the guidelines given by SBP through BSD Circular
No. 8 dated June 27, 2006. The Bank has adopted Standardized Approach for Credit and Market Risk and Basic Indicator
Approach for Operational Risk. The current requirement for CAR is 10% as per BSD Circular No. 07 dated April 15, 2009.
41.2 Capital Structure

The Group's regulatory capital base comprises of:
(a) Tier I capital which includes share capital, reserves and accumulated losses / unappropriated profit
(b) Tier II capital which consists of sub-ordinated loans (subject to 50% of eligible Tier 1 capital), revaluation reserves
(subject to 45% of balance in revaluation reserve) and general provision for loan losses (subject to 1.25% of Risk
Weighted Assets)
The issued, subscribed and paid-up capital of the Bank was Rs. 103,028.512 million as at December 31, 2011, comprising
of 10,302,851,164 shares of Rs. 10 each.
The sub-ordinated debt amounting to Rs. 3,994.200 million represents unsecured TFCs of the Bank. The amount raised
through the issue contributed towards the Bank's Tier II capital for Minimum Capital Requirement as per the guidelines
of SBP.
Details of the Group's regulatory capital are as under:
2011 2010
(Rupees '000')
Tier I Capital
Fully paid-up capital 103,028,512 40,437,271
Non-controlling interest 9 –
Share premium (45,769,623) 8,246,618
Statutory and general reserves 218,276 218,276
14,143,265 14,244,564
Less:
Goodwill 3,785,754 4,147,736
Deficit on account of revaluation of investments held in AFS category 479,595 359,624
Investments in TFCs of other banks exceeding the prescribed limit – –
Other deductions (representing 50% of significant associates) 637,811 844,565
Total Tier I Capital 9,240,105 8,892,639
Tier II Capital
Sub-ordinated debt (up to 50% of total Tier I Capital) 3,195,520 3,946,000
General Provision for loan losses
(subject to 1.25% of Total Risk Weighted Assets) 282,139 952,076
Less:
Other deductions (representing 50% of significant associates) 637,811 844,565
Total Tier II Capital 2,839,848 4,053,511
Total Regulatory Capital Base (a) 12,079,953 12,946,150

41.3 Capital Adequacy

The purpose of capital management at the Group is to ensure efficient utilization of capital in relation to business
requirements, growth, risk appetite, shareholders' returns and expectations.
The Group manages its capital structure and makes adjustments to it in the light of changes in economic
conditions, regulatory requirements and the risk profile of its activities. In order to maintain or adjust the capital
structure, the Bank may issue capital / Tier II securities.
The Group’s capital adequacy ratio as at December 31, 2011 was 13.00% compared to the minimum regulatory
requirement of 10%. The Group ensures adherence to SBP's requirements by monitoring its capital adequacy
on a regular basis.
Banking operations are categorised as either Trading book or Banking book, and Risk-Weighted Assets are
determined according to SBP requirements that seek to reflect the varying levels of risk attached to Group’s On
and Off-balance sheet exposures.
Collateral, if any, is used as an outflow adjustment. Risk weights notified are applied to Net Adjusted Exposure.
Cash and near cash collateral includes Government of Pakistan securities, shares listed on the stock exchanges,
cash and cash equivalents (deposits / margins, lien on deposits).
The Group has complied with all regulatory capital requirements during the year.
The capital requirement for the Bank as per the major risk categories is indicated below:
Capital Requirements Risk Weighted Assets

2011 2010 2011 2010
(Rupees '000')
Credit Risk
Corporate 2,951,635 3,123,936 29,516,351 31,239,360
Sovereign 3,252 15,981 32,522 159,811
Retail 906,121 1,336,148 9,061,214 13,361,478
Banks 463,919 297,608 4,639,188 2,976,082
Equity Investments 301,439 264,042 3,014,390 2,640,417
Public sector Entities 23,069 63,230 230,685 632,296
Past Due Loans 1,140,635 1,120,452 11,406,353 11,204,520
Claims against Residential Mortgage 58,914 62,833 589,140 628,330
Investments in premises, plant and equipment and all
other fixed assets 275,193 278,443 2,751,930 2,784,432
Other assets 1,282,182 1,076,497 12,821,825 10,764,965
Off Balance Sheet Market Related Exposures 82,312 56,528 823,124 565,284
7,488,671 7,695,698 74,886,722 76,956,975
Market Risk
Interest Rate Risk 666,044 372,617 6,660,436 3,726,166
Equity Position Risk 46,848 239,567 468,481 2,395,668
Foreign Exchange Risk 4,908 118,058 49,081 1,180,579
717,800 730,242 7,177,998 7,302,413
Operational Risk 1,088,282 1,200,662 10,882,821 12,006,624
TOTAL (b) 9,294,753 9,626,602 92,947,541 96,266,012
2011 2010
Capital Adequacy Ratio (Rupees '000')
Total eligible regulatory capital held 12,079,953 12,946,150
Total Risk Weighted Assets 92,947,541 96,266,012
Capital Adequacy Ratio (a) / (b) 13.00% 13.45%

41.4 Types of Exposures and ECAIs used

The Group uses external ratings from local and foreign rating agencies. The Group has obtained ratings from
websites of External Credit Assessment Institutions (ECAIs) and followed the SBP rating grade for mapping.
Exposures JCR-VIS PACRA Fitch Moodys Standard &

Poor
Corporate ✓ ✓ – – –
Sovereign – – – – –
Retail – – – – –
Banks ✓ ✓ ✓ ✓ ✓
41.5 Credit exposure subject to Standardized Approach

2011
(Rupees '000')
Exposure Rating Amount Deduction Net

Category Outstanding CRM Amount
Corporate 1 3,928,061 – 3,928,061

Corporate 2 855,131 84,168 770,963
Corporate 3,4 57,524 5,846 51,678
Corporate 5,6 564,509 – 564,509
Corporate Unrated 29,443,393 1,996,578 27,446,815
Retail 15,101,439 3,019,820 12,081,619
Banks
- Over 3 Months 1 1,126,052 – 1,126,052
- Over 3 Months 2,3 5,731,756 746,128 4,985,628
- Over 3 Months 4,5 110,805 – 110,805
- Over 3 Months Unrated 764,726 – 764,726
- Maturity Upto and under 3 Months in FCY 1,2,3 2,584,486 – 2,584,486

- Maturity Upto and under 3 Months in FCY 4,5 – – _
- Maturity Upto and under 3 Months in FCY 6 – – _
- Maturity Upto and under 3 Months in FCY Unrated 623,303 – 623,303
- Maturity Upto and under 3 Months in PKR 1 14,324,826 10,392,640 3,932,186
Public Sector Entities 1 – – _

Unrated 464,537 3,921 460,616
Sovereign 21,833,880 6,577,909 15,255,971

Unrated 32,896,498 – 32,896,498
Total 130,410,926 22,827,010 107,583,916

42. RISK MANAGEMENT

While the overall responsibility of risk management rests with the Board of Directors, the Bank’s senior management
has implemented a risk management framework with well defined policies and procedures, duly approved by the
Board, for mitigating, monitoring and controlling risks.
The Board of Directors of the Bank has approved the risk management strategy of the Bank and entrusted the
monitoring to the Board’s Risk Management Committee (BRMC).
The Integrated Risk Management Committee (IRMC) is responsible for reviewing and highlighting key risk issues
that require senior management’s attention. IRMC comprises of members from business units and the risk functions.
An enterprise level assessment of risk composition is made at this platform and where necessary, recommendations
are made to improve upon processes and procedures to further strengthen the risk framework.
Risk management heads for the business segments report to the Chief Risk Officer (CRO). The risk management
heads are responsible for ensuring the implementation of the Bank’s risk framework in their respective domains
in line with the business model of the Bank and also in compliance with SBP guidelines.
The Bank also conducts stress testing analysis across portfolios, by anticipating changes and applying shocks
of different intensity values, thereby evaluating their effects on the value of the portfolios.
42.1 Credit Risk

Credit risk is the risk of failure by a client or counterparty to meet its contractual obligations. It is inherent in loans,
commitments to lend and contingent liabilities, such as letters of credit, repurchase agreements (repos and reverse
repos) and securities borrowing and lending transactions.
The objective of credit risk management by the Bank is to ensure that the risk of default by a client or counterparty
is reduced to a minimum, keeping in view the risk management policies of the Bank.
The Bank has established an appropriate credit risk environment which is operating under a sound credit-granting
process, maintaining an appropriate credit administration, measurement and monitoring process and ensuring
adequate controls.
There is a proper credit delegation matrix for review and approving credit applications. Businesses have no credit
approving authority. All credit approvals are accorded by the Credit Officers/ Senior Credit Officers in the Risk
Management Group.
The concept of “three initial system” is very much in existence in NIB. Based upon regional considerations and
availability of Credit Talent, any initiating unit has to have formal recommendation by the Relationship Manager,
his/ her Team Leader and Regional Head/ Corporate Banking Head/ Group Head. The essence here is that the
credit proposal must not be left to the sole judgement of one person – rather, the application of minds must be
diverse and independent of each other.
Following are the basic guiding principles of credit risk management that are embedded in the Bank and across
business segments:
- Clearly defined risk management policies and procedures covering risk identification, acceptance, measurement,
monitoring, reporting and control.
- A well constituted organizational structure clearly defining roles and responsibilities of individuals involved in
taking as well as managing risk.
- An effective management information system that ensures flow of information from the operational level to top
management and a system to address any exceptions observed.
- An effective mechanism to ensure an ongoing review of systems, policies and procedures for risk management
and procedures to adopt changes.
- Review of portfolios by BRMC on a quarterly basis and by IRMC on a monthly basis to evaluate the health of
the portfolio.

42.1.1 Segmental Information

42.1.1.1 Segments by class of business 2011
Contingencies and
Advances (Gross) Deposits commitments
(Rupees Percent (Rupees Percent (Rupees Percent
'000') '000') '000')
Agriculture, Forestry, Hunting and Fishing 1,412,649 1.67 522,373 0.61 – –
Construction 747,419 0.88 1,356,196 1.59 1,133,506 0.79
Engineering 803,083 0.95 358,519 0.42 907,756 0.64
Exports / Imports 2,601,689 3.08 1,242,681 1.45 7,632,261 5.34
Financial 339,481 0.40 1,219,177 1.43 116,443,027 81.49
Footwear and Leather Garments 969,835 1.15 161,793 0.19 16,037 0.01
Individuals 5,242,744 6.21 50,230,839 58.77 350,774 0.25
Insurance – – 181,272 0.20 200 0.00
Mining and Quarrying 201,117 0.24 512,451 0.60 97,239 0.07
Oil and Gas 356,729 0.42 4,897,690 5.73 3,038 0.00
Power, Gas, Water, Sanitary 3,317,982 3.93 2,923,427 3.42 677,548 0.47
Services 3,170,753 3.75 2,885,736 3.38 294,068 0.21
Sugar 1,751,338 2.07 15,968 0.02 22,239 0.02
Textile 29,112,151 34.46 1,432,811 1.68 6,420,856 4.49
Transport, Storage and Communication 2,299,449 2.72 2,894,337 3.39 1,436,027 1.00
Others 6,407,991 7.58 4,670,131 5.46 1,709,111 1.20
84,489,211 100.00 85,472,247 100.00 142,889,952 100.00
2010
Agriculture, Forestry, Hunting and Fishing 2,127,690 2.16 431,118 0.43 _ _

Construction 905,621 0.92 1,173,911 1.18 555,261 0.36
Engineering 593,436 0.60 457,706 0.46 1,215,419 0.80
Exports / Imports 2,639,680 2.69 667,950 0.67 378,194 0.25
Financial 520,367 0.53 6,339,414 6.40 130,811,534 85.77
Footwear and Leather Garments 1,055,048 1.07 115,638 0.12 34,616 0.02
Individuals 7,880,845 8.02 47,530,178 47.96 344,781 0.23
Insurance – – 259.553 0.26 – –
Mining and Quarrying 244,304 0.25 1,928,351 1.95 74,453 0.05
Oil and Gas 2,396,384 2.44 3,048,037 3.08 2,416,949 1.59
Power, Gas, Water, Sanitary 2,606,707 2.65 4,255,100 4.29 828,234 0.54
Services 4,549,830 4.63 2,988,233 3.02 521,661 0.34
Sugar 1,828,795 1.86 35,553 0.04 2,049 0.00
Textile 30,938,690 31.45 783,430 0.79 7,553,526 4.95
Transport, Storage and Communication 2,480,832 2.52 8,921,680 9.00 992,311 0.65
Others 7,667,325 7.79 8,217,865 8.29 1,468,218 0.96
98,362,123 100.00 99,111,741 100.00 152,511,924 100.00

42.1.1.2 Segment by sector

2011
Contingencies and
Advances (Gross) Deposits commitments
(Rupees Percent (Rupees Percent (Rupees Percent
'000') '000') '000')
Public / Government 6,578,083 7.79 9,414,316 11.01 2,911 0.00

Private 77,911,128 92.21 76,057,931 88.99 142,887,041 100.00
84,489,211 100.00 85,472,247 100.00 142,889,952 100.00
2010
Public / Government 10,904,387 11.09 12,069,277 12.18 3,076,217 2.02
Private 87,457,736 88.91 87,042,464 87.82 149,435,707 97.98
98,362,123 100.00 99,111,741 100.00 152,511,924 100.00
42.1.1.3 Details of non-performing advances and specific

provisions by class of business segment
2011 2010
Held Held
(Rupees '000')
Agriculture, Forestry, Hunting and Fishing 22,993 15,113 54,049 15,513
Automobile and Transportation Equipment 588,843 515,344 466,555 436,401
Cement, Glass and Ceramics 1,277,320 1,081,681 1,339,892 938,969
Chemicals and Pharmaceuticals 519,527 332,600 314,336 198,010
Construction 482,431 103,144 426,022 133,472
Electronics and Electrical Appliances 703,056 432,233 515,794 307,383
Engineering 424,258 233,381 270,381 121,485
Financial 129,982 96,802 182,079 73,066
Food and Beverages 1,217,777 719,393 1,060,392 756,651
Footwear and Leather Garments 418,458 305,942 340,708 268,207
Individuals 566,960 313,897 1,778,291 826,009
Mining and Quarrying 33,602 2,117 48,493 34,819
Oil and Gas 327,474 299,634 359,101 328,832
Paper and Printing 561,452 387,008 591,339 358,062
Power, Gas, Water and Sanitary 664,656 459,239 646,083 371,953
Services 1,907,961 801,684 2,131,558 1,096,966
Sugar 772,799 626,387 1,272,914 816,713
Textile 14,675,438 11,761,058 11,212,276 8,620,131
Transport, Storage and Communication 888,606 665,971 1,070,183 807,245
Wholesale and Retail Trade 3,887,070 1,824,453 6,041,388 3,962,528
Others 4,123,919 2,368,478 4,589,634 2,354,048
34,194,582 23,345,559 34,711,468 22,826,463
42.1.1.4 Details of non-performing advances and

specific provisions by sector
Public / Government – – – –
Private 34,194,582 23,345,559 34,711,468 22,826,463
34,194,582 23,345,559 34,711,468 22,826,463

2011
(3,492,009) 154,825,011 13,663,670 142,889,952
2010
(12,089,002) 164,557,066 13,884,940 152,511,924
42.2 Market Risk

Market risk is primarily composed of price risk and arises out of treasury trading and investment activities. It is the
risk that the value of on and off balance sheet positions of the Bank will be adversely affected by movements in
market rates or prices.
The Bank recognizes that it may be exposed to market risk in a variety of ways. Market risk exposure may be explicit
in the portfolio of equities and foreign currencies that are actively traded. Conversely, it may be implicit, such as
interest rate risk due to mismatch of loans and deposits. Market risk may also arise from activities categorized as
off balance sheet items.
42.2.1 Foreign Exchange Risk

Foreign exchange risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign
exchange rates.
The core objective of foreign exchange risk management is to ensure that the exposure of the Bank remains within
desired levels of risk appetite.
Furthermore, the Bank monitors Value at Risk (VaR) and Price Value Basis Point (PVBP) for the foreign exchange
portfolio in order to estimate any potential losses due to changes in price. The Bank also monitors maturity mismatch
gaps to identify any potential risks.
The Bank has implemented global / regulatory best practices in order to manage the inherent risk of product and
market, such as credit limits, monitoring of foreign exchange exposure limits, review of mark to market portfolio etc.
2011
Pakistan Rupee 147,276,666 135,953,080 1,927,274 13,250,860

United States Dollar 6,944,197 3,820,292 (2,750,296) 373,609
Great Britain Pound 153,964 833,552 679,752 164
Euro 417,779 543,650 143,270 17,399
Japanese Yen 12,560 22 – 12,538
Swiss Franc 1,865 787 – 1,078
Others 17,980 9,958 – 8,022
154,825,011 141,161,341 – 13,663,670

2010
Pakistan Rupee 155,592,435 144,560,745 1,307,404 12,339,094

United States Dollar 8,032,243 4,234,598 (2,322,995) 1,474,650
Great Britain Pound 221,540 1,018,965 843,190 45,765
Euro 671,042 848,178 172,401 (4,735)
Japanese Yen 18,618 12 – 18,606
Swiss Franc 5,569 752 – 4,817
Others 15,619 8,876 – 6,743
164,557,066 150,672,126 – 13,884,940
42.2.2 Equity price risk and Fixed Income rate risk

The Bank has a set of approved notional & dealer limits for managing risk across the trading & banking book.
Furthermore Bank has also established sensitivity base limit (DVO1) for monitoring treasury portfolio. In order to
manage the market risk in the trading book, the Bank periodically applies a VaR methodology to assess the market
risk positions held. Currently the Bank is using variance covariance model for calculating VaR across both the equity
& fixed income portfolios.
Equity Price Risk is the risk to earnings or capital that results from adverse changes in the value of equity related
portfolios of the Bank. Price risk associated with equities could be systemic or idiosyncratic. The Bank is also using
Market Risk tools such as Alpha, Beta and Sharpe ratio for risk measurement and assessment.
Fixed income securities are subject to the risk of price volatility due to interest rate movements. Fixed rate debt
securities with longer maturities tend to be more sensitive to interest rate movements than those with shorter maturities.
The Bank is using Market Risk tools such as PVBP, Duration, Parallel shift and Non Parallel shift for risk measurement
and assessment.

42.2.3 Mismatch of Interest Rate Sensitive Assets and Liabilities
2011
Annual Report 2011

Not
Effective Over 1 Over 3 Over 6 Over 1 Over 2 Over 3 Over 5 Eposed
Yield / Total Upto 1 to 3 to 6 Months to 1 to 2 to 3 to 5 to 10 Over to Yield /
Interest Month Months Months Year Years Years Years Years 10 Years Interest
rate rate risk
(Rupees '000')
Assets
Balances with other banks 0.03% 1,486,560 633,084 – – – – – – – – 853,476
Lendings to financial institutions 12.99% 14,666,918 14,666,918 – – – – – – – – –
Investments 10.82% 47,786,041 752,974 12,809 2,900,451 27,476,993 5,787,308 2,997,890 2,424,316 1,001,623 – 4,431,677
Advances 11.73% 60,861,513 9,814,266 35,122,399 5,099,365 1,406,197 2,798,537 2,420,189 2,437,230 1,088,540 674,790 –
Other assets 14.60% 2,826,196 – 98,856 – – – – – – – 2,727,340
135,596,272 25,867,242 35,234,064 7,999,816 28,883,190 8,585,845 5,418,079 4,861,546 2,090,163 674,790 15,981,537
Liabilities
Bills payable _ 1,738,422 – – – – – – – – – 1,738,422

Borrowings 11.58% 47,382,031 37,762,782 4,720,052 3,130,867 – 52,996 480,371 822,527 412,436 – –
Other liabilities _ 2,414,227 – – – – – – – – – 2,414,227
141,001,327 50,130,061 44,070,177 7,826,508 6,838,057 242,702 507,857 836,822 412,551 – 30,136,592
On-balance sheet gap (5,405,055) (24,262,819) (8,836,113) 173,308 22,045,133 8,343,143 4,910,222 4,024,724 1,677,612 674,790 (14,155,055)

Foreign exchange contracts - purchase 56,859,837 15,399,112 23,141,924 17,755,251 563,550 – – – – – –

Off-balance sheet gap (1,927,274) (4,283,993) 7,820,844 (6,027,675) 563,550 – – – – – –
Total Yield / Interest Rate Risk Sensitivity Gap (28,546,812) (1,015,269) (5,854,367) 22,608,683 8,343,143 4,910,222 4,024,724 1,677,612 674,790 (14,155,055)
Cumulative Yield / Interest Rate Risk Sensitivity Gap (28,546,812) (29,562,081) (35,416,448) (12,807,765) (4,464,622) 445,600 4,470,324 6,147,936 6,822,726 (7,332,329)
163
164
2010
Not
Effective Over 1 Over 3 Over 6 Over 1 Over 2 Over 3 Over 5 Exposed
Yield / Total Upto 1 to 3 to 6 Months to 1 to 2 to 3 to 5 to 10 Over to Yield/
Interest Month Months Months Year Years Years Years Years 10 Years Interest
rate rate risk
(Rupees '000')
Assets
Balances with other banks 0.00% 2,952,593 2,642,636 – – – – – – – – 309,957
Lendings to financial institutions 12.11% 6,429,166 5,650,258 778,908 – – – – – – – –
Investments 10.10% 50,209,083 1,261,164 24,445,215 6,438,990 6,227,196 889,674 3,235,181 1,704,227 289,342 306,563 5,411,531
Advances 12.31% 74,583,584 10,893,149 49,442,820 4,327,328 1,696,632 2.877,050 2,210,875 1,902,342 711,978 521,410 –
Other assets 0.00% 3,454,611 – – – – – – – – – 3,454,611
146,465,511 20,447,207 74,666,943 10,766,318 7,923,828 3,766,724 5,446,056 3,606,569 1,001,320 827,973 18,012,573
Liabilities
Bills payable – 1,335,493 – – – – – – – – – 1,335,493
Borrowings 11.46% 42,361,934 28,563,313 7,513,257 4,468,556 200,912 376,794 329,268 656,699 253,135 – –
Sub-ordinated loans 13.72% 3,996,000 – – 3,996,000 – – – – – – –

Other liabilities – 3,621,795 39,740 – – – – – – – – 3,582,055
150,426,963 39,483,180 24,352,542 45,163,604 9,373,507 682,464 544,540 675,288 253,269 – 29,898,569
On-balance sheet gap (3,961,452) (19,035,973) 50,314,401 (34,397,286) (1,449,679) 3,084,260 4,901,516 2,931,281 748,051 827,973 (11,885,996)

Foreign exchange contracts - purchase 66,004,625 24,112,287 22,501,915 17,536,494 1,853,929 – – – – – –
Off-balance sheet gap (1,307,405) (4,707,834) (2,436,148) 3,982,648 1,853,929 – – – – – –
Total Yield / Interest Rate Risk Sensitivity Gap (23,743,807) 47,878,253 (30,414,638) 404,250 3,084,260 4,901,516 2,931,281 748,051 827,973 (11,885,996)
Cumulative Yield / Interest Rate Risk Sensitivity Gap (23,743,807) 24,134,446 (6,280,192) (5,875,942) (2,791,682) 2,109,834 5,041,115 5,789,166 6,617,139 (5,268,857)
Annual Report 2011

42.3 Liquidity Risk
Liquidity risk exposure is the risk caused, among others, by the inability of the Group to settle its liabilities on their due dates.
The Group objective of liquidity management is to ensure that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions,
without incurring unacceptable losses.
The liquidity risk policy is formulated keeping in view SBP's guidelines on risk management and international best practices. The Group maintains its liquidity by keeping a
level of liquid assets that is considered sufficient to settle its obligations when due.
The Group manages its liquidity risk through
Annual Report 2011

- Controlling the cash flow mismatch between on- and off-balance sheet assets and liabilities;
- Maintaining stable and diversified sources of funding;
- Ensuring the Group has the right asset portfolio mix and sufficient liquid assets on hand in relation to its daily cash flows.
The Group carries out careful monitoring and control of the daily liquidity position, and regular liquidity stress testing under a variety of scenarios. Scenarios encompass
both normal and stressed market conditions, including general market crises and the possibility that access to markets could be impacted by a stress event affecting
some part of the Group's business. Exposure to liquidity risk is also monitored through regular review of liquidity risk limits and escalation of any liquidity risk limit excesses
to senior management.
42.3.1 Maturities of assets and liabilities - Based on contractual maturity of the Assets and Liabilities of the Group
2011

(Rupees '000')
Assets
Investments 47,786,041 1,485,324 693,586 852,374 27,585,819 5,974,198 3,080,127 3,399,644 2,315,463 2,399,506
Advances 60,861,513 35,563,728 9,372,938 5,099,365 1,406,196 2,798,537 2,420,189 2,437,230 1,076,871 686,459
Intangible assets 3,785,755 41,240 82,461 123,690 226,902 326,953 315,316 575,072 493,495 1,600,626
Other assets 4,588,151 138,923 2,202,507 85,299 1,311,619 772,413 28,011 48,555 824 –
154,825,011 61,315,169 12,485,402 6,205,249 30,820,893 10,962,840 7,515,426 10,201,965 9,076,313 6,241,754
Liabilities
Bills payable 1,738,422 1,738,422 – – – – – – – –
Borrowings 47,382,031 37,762,783 4,720,052 3,130,866 – 52,996 480,371 822,527 412,436 –
141,161,341 105,494,261 14,433,727 8,032,907 7,092,730 944,173 1,840,899 2,832,814 489,830 –
Net assets 13,663,670 (44,179,092) (1,948,325) (1,827,658) 23,728,163 10,018,667 5,674,527 7,369,151 8,586,483 6,241,754

Reserves 218,276
Accumulated loss (43,333,909)
Total equity attributable to the equity holders
of the Bank 14,143,256
Non-controlling interest 9
14,143,265
Deficit on revaluation of assets-net (479,595)
165
13,663,670
166
The above maturity profile has been prepared in accordance with International Financial Reporting Standard 7, Financial Instruments: Disclosures, based on contractual maturities.
Consequently, all demand assets and liabilities such as running finance, current accounts and saving accounts are shown as having a maturity upto one month. However, based
on historical behaviour, management is of the opinion that the possibility of these inflows / outflows actually occurring entirely within one month is remote, as these flows normally
occur over a period of one month to three years.
2010

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (Rupees '000') - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Assets
Investments 50,209,083 1,261,163 25,167,345 1,539,302 6,362,527 1,122,503 4,309,570 4,368,873 1,642,224 4,435,576
Advances 74,583,584 46,084,562 8,575,339 4,830,123 2,581,342 4,035,876 3,436,860 3,349,207 1,020,533 669,742
Other assets 5,251,463 411,861 3,320,894 181,177 118,042 324,464 297,119 583,235 11,971 2,700
164,557,066 65,303,969 38,106,773 6,875,033 9,602,275 6,534,074 9,023,798 11,634,496 9,908,337 7,568,311
Liabilities
Bills payable 1,335,493 1,335,493 – – – – – – – –
Borrowings 42,361,934 28,563,313 7,513,257 4,468,556 200,912 376,794 329,268 656,699 253,135 –
150,672,126 100,767,455 25,881,528 7,796,675 9,953,946 712,728 1,226,152 3,338,958 994,684 –

Net assets 13,884,940 (35,463,486) 12,225,245 (921,642) (351,671) 5,821,346 7,797,646 8,295,538 8,913,653 7,568,311

Reserves 8,464,894
of the bank 7,892,204
Advance against proposed rights issue 6,352,360
14,244,564
13,884,940
The above maturity profile has been prepared in accordance with International Financial Reporting Standard 7, Financial Instruments: Disclosures, based on contractual maturities. Consequently, all
demand assets and liabilities such as running finance, current accounts and saving accounts are shown as having a maturity upto one month. However, based on historical behaviour, management
is of the opinion that the possibility of these inflows / outflows actually occurring entirely within one month is remote, as these flows normally occur over a period of one month to three years.
Annual Report 2011

42.3.2 Maturities of Assets and Liabilities - Based on historical pattern of the Assets and Liabilities of the Group
2011
Annual Report 2011

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (Rupees '000') - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Assets
Investments 47,786,041 1,485,324 693,586 852,374 27,585,819 5,974,198 3,080,127 3,399,644 2,315,463 2,399,506
Advances 60,861,513 11,900,866 9,917,149 5,533,499 24,090,713 2,798,537 2,420,189 2,437,230 1,076,871 686,459
Other assets 4,588,151 138,923 2,202,507 85,299 1,311,619 772,413 28,011 48,555 824 –
154,825,011 37,652,307 13,029,613 6,639,383 53,505,410 10,962,840 7,515,426 10,201,965 9,076,313 6,241,754
Liabilities
Bills payable 1,738,422 1,738,422 – – – – – – – –
Borrowings 47,382,031 37,762,783 4,720,052 3,130,866 – 52,996 480,371 822,527 412,436 –

141,161,341 62,898,504 16,712,396 19,744,628 11,856,300 5,704,696 6,604,469 7,600,738 5,262,107 4,777,503
Net assets 13,663,670 (25,246,197) (3,682,783) (13,105,245) 41,649,110 5,258,144 910,957 2,601,227 3,814,206 1,464,251

Reserves 218,276
Non-controlling interest 9
14,143,265
13,663,670
167
168
2010

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (Rupees '000') - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Assets
Investments 50,209,083 1,261,163 25,167,345 1,539,302 6,362,527 1,122,503 4,309,570 4,368,873 1,642,224 4,435,576
Advances 74,583,584 5,918,319 8,880,442 24,760,693 22,511,912 4,035,876 3,436,860 3,349,207 1,020,533 669,742
Other assets 5,251,463 411,861 3,320,894 181,177 118,042 324,464 297,119 583,235 11,971 2,700
164,557,066 25,137,726 38,411,876 26,805,603 29,532,845 6,534,074 9,023,798 11,634,496 9,908,337 7,568,311
Liabilities
Bills payable 1,335,493 1,335,493 – – – – – – – –
Borrowings 42,361,934 28,563,313 7,513,257 4,468,556 200,912 376,794 329,268 656,699 253,135 –
150,672,126 57,151,710 28,227,484 19,059,227 14,840,329 5,511,428 6,112,536 8,350,602 6,131,590 5,287,220
Net assets 13,884,940 (32,013,984) 10,184,392 7,746,376 14,692,516 1,022,646 2,911,262 3,283,894 3,776,747 2,281,091

Reserves 8,464,894
Advance against proposed rights issue 6,352,360
14,244,564
13,884,940
Annual Report 2011

42.4 Operational Risk Management

Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or
from external events. The Bank seeks to ensure that key operational risks are managed in a timely and effective
manner through a framework of policies, procedures and tools to identify, assess, monitor, control and report such
risks.
The key objectives of Operational Risk measurement and management include:
- Ensuring continued solvency of the Bank through capital adequacy and enhanced understanding and management
of significant operational risk exposures.
- Ensuring that customer impact is minimized through proactive and focused risk management practices.
- Ensuring senior management attention on significant operational risk exposure areas and that risk mitigation is
given prioritized focus.
The IRMC has the responsibility to supervise and direct the management of operational risks and key operational
risk exposures. The IRMC is also responsible for ensuring that adequate and appropriate policies and procedures
are in place for the identification, assessment, monitoring, control and reporting of operational risks.
The Bank has undertaken the following high-level strategic initiatives for the effective implementation of Operational
Risk Management:
- Developing policies, procedures and defining end to end information flow to establish a vigorous governance
infrastructure.
- Putting in place risk and control self assessment framework across the bank.
- Collection of Operational Loss data across the bank and take remedial / corrective action as required.
43. DATE OF AUTHORIZATION FOR ISSUE
These consolidated financial statements were authorized for issue on February 22, 2012 by the Board of Directors
of the Bank.

170
(Rupees '000')
Interest/ Other
Annexure - 1
1 ZULFIQAR AHMED ZULFIQAR AHMED 32202-2514989-9 MOHAMMAD ABBAS 703 60 - 763 703 60 - 763
HOUSE # B-441, 1ST FLOOR, PEOPLE COLONY,
BLOCK N, NORTH NAZIMABAD, KARACHI.
2 ZEESHAN AHMED QURESHI ZEESHAN AHMED QURESHI 42201-2054225-7 MUHAMMAD HANIF 836 488 - 1,324 836 488 - 1,324
HOUSE NO 706/219, FATIMAH JINNAH COLONY,
JAMSHED ROAD NO 3, KARACHI.
3 ZAFAR IQBAL CHUDARY ZAFAR IQBAL CHUDARY 35201-1322748-1 CHUDARY MUHAMMAD RAFIQ 594 98 - 692 594 98 - 692
HOUSE NO 35/1, STREET NO 1, CROWN PARK,
BAGHBAN PURA, LAHORE.
4 TOUQEER IQBAL TOUQEER IQBAL 36302-5874120-1 MUHAMMAD IQBAL JAWAID 667 110 - 777 667 110 - 777
H NO 524, WARD NO 8 H MOHALA HAKEEMON
WAL INSIDE HARM GATE, MULTAN.
5 SHER MUHAMMAD SHER MUHAMMAD 35201-3903886-5 NADIR KHAN 530 44 - 574 530 44 - 574
House # 8/A, STREET # 3, SHAHEEN PARK,
MUGHAL PURA, LAHORE.
6 SHABAB ALI SHEIKH SHABAB ALI SHEIKH 37402-7515167-1 SHEIKH MUHAMMAD SALEEM 942 157 - 1,099 942 157 - 1,099
HOUSE # 692, STREET 100-A I-10/4,
ISLAMABAD.
7 SADIA RASHEED SADIA RASHEED 42301-4740346-6 SARDAR ABDUL RASHEED 588 52 - 640 588 52 - 640
FLAT NO. 104, BEST HOMES, BLOCK-2, CLIFTON,
KARACHI.
8 RANA KHALID MEHMOOD RANA KHALID MEHMOOD 31202-4365671-3 SHER MUHAMMAD 698 61 - 759 698 61 - 759
RANA KHALID MEHMOOD BACK SIDE ABBAS GOODS
TRANSPORT, MULTAN ROAD, BASTI BINDRA, BAHAWALPUR.
9 RAJA JAWAID SULTAN RAJA JAWAID SULTAN 42101-3099261-1 RAJA MUHAMMAD INAYAT KHAN 1,124 186 - 1,310 1,124 186 - 1,310
HOUSE NO. R-739, AL NOOR SOCIETY, BLOCK-19,
FEDERAL B. AREA, KARACHI.
10 RAFIQ QASIM ALI RAFIQ QASIM ALI 42101-1645106-3 QASIM ALI 942 157 - 1,099 942 157 - 1,099
FLAT NO. L 7 3 E 1, GULSHAN E KARIM, NAZIMABAD,
KARACHI.
11 NAVEED AHMED NAVEED AHMED 35202-2648398-5 CH GHULAM HUSSAIN 1,155 181 - 1,336 1,155 181 - 1,336
HOUSE NUMBER 170/B, SECTOR ARMY OFFICER
HOUSING SOCIETY, ASKARI-10, AIRPORT, LAHORE.
12 NAEEM UDDIN NAEEM UDDIN 42201-3576503-9 WAHEED UDDIN 504 307 - 811 504 307 - 811
HOUSE NO. 69-L, BLOCK-2, P.E.C.H.S.,
KARACHI.
13 NAEEM AHMED NAEEM AHMED 37301-7260054-9 SHEIKH GHULAM AHMED 1,313 210 - 1,523 1,313 210 - 1,523
HOUSE NO. C-424, BILAL TOWN,
JHELUM.
14 NADEEM YASEEN SHANAWAR NADEEM YASEEN SHANAWAR 35102-5630501-7 MUHAMMAD YASEEN 1,488 794 - 2,282 1,488 794 - 2,282
HOUSE NO. 19, S-93 STREET, MIAN SKENDAR MAIN
BAZAR ROAD, KOT KASUR, KASUR.
15 NADEEM NISAR AHMED NADEEM NISAR AHMED 42201-6070613-7 NISAR AHMED 636 104 - 740 636 104 - 740
FLAT NO. A-97, ERUM GARDEN, BLOCK 13/D-3,
16 NADEEM NADEEM 42301-1647265-5 MUHAMMAD ISMAIL 675 129 - 804 675 129 - 804
PLOT NO. 137/3, FLAT NO. B-514, 5TH FLOOR.
OWN PARADISE APPARTMENT, GARDEN WEST, KARACHI.
17 MUSHTAQ ALI MUSHTAQ ALI 42201-0639447-7 BARKAT ALI 645 106 - 751 645 106 - 751
HOUSE # 303, ZANAB BLOCK-B, 3RD FLOOR,
ZAINBIYA SAKOON BUILDING, NUMAISH, KARACHI.
18 MUHAMMAD YOUSUF SHEIKH MUHAMMAD YOUSUF SHEIKH 42301-6944454-9 MEHMOOD SHEIKH JI 576 92 - 668 576 92 - 668
FLAT # C 114, AL MUSTAFA PRIDE, 1ST FLOOR ,
BLOCK C-P/T-L-2/31, AL MUSTAFA PIDE,
REHMAT MASJID STREET, KARACHI.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
19 MUHAMMAD SOHAIL KHAN MUHAMMAD SOHAIL KHAN 42101-1788809-9 MUHAMMAD SHARIF KHAN 674 112 - 786 674 112 - 786
HOUSE # C-6-A, FIRDOS COLONY, LIAQUATABAD TOWN,
GULBAHAR, KARACHI.
20 MUHAMMAD SHOAIB BUTT MUHAMMAD SHOAIB BUTT 35202-1359856-7 MUHAMMAD AKBAR BUTT 979 158 - 1,137 979 158 - 1,137
HOUSE NO. 177, STREET NO. 8, BS SHARIF PARK,
OUT FALL ROAD, USMAN ROAD, SANAT NAGAR, LAHORE.
21 MUHAMMAD SALEEM MUHAMMAD SALEEM 42201-0550983-1 MUHAMMAD SHARIF 890 147 - 1,037 890 147 - 1,037
HOUSE # 30/1, STREET-19, MODEL COLONY,
KARACHI.
22 MUHAMMAD NAEEM MUHAMMAD NAEEM 42201-7197677-5 ALI MUHAMMAD 1,124 186 - 1,310 1,124 186 - 1,310
HOUSE NO. Q-190, Q AREA, KORANGI NO. 2,
KARACHI.
23 MUHAMMAD MUNAAF MUHAMMAD MUNAAF 42101-2381014-1 ABDUL SATTAR 850 140 - 990 850 140 - 990
HOUSE NO. 151, BANTWA NAGAR,
SIR SULEMAN SHAH ROAD, LIAQATABAD, KARACHI.
24 MUHAMMAD IRSHAD MUHAMMAD IRSHAD 35404-1531747-3 WALI MUHAMMAD 824 119 - 943 824 119 - 943
TOKRIYAN WALA BAZAR,
SHEIKHPURA.
25 MUHAMMAD AMIN MUHAMMAD AMIN 42101-8735231-9 MUHAMMAD MOOSA 846 136 - 982 846 136 - 982
FLAT NO. 409, SILANI CENTRE, BARAR SOCIETY,
KARACHI.
26 MOHSIN ZAFAR MOHSIN ZAFAR 35202-9475154-7 MUHAMMAD AZAM ZAFAR 1,226 217 - 1,443 1,226 217 - 1,443
HOUSE # 1, ZAFAR MANZIL, STREET # 3,
BUSHRA ZAFAR STREET, OPPOSITE WAPDA OFFICE,
MAIN BAZAR SANDA KALAN SECTOR 85, LAHORE.
27 MOHAMMAD RIZWAN AHMED KHAN MOHAMMAD RIZWAN AHMED KHAN 42201-5543652-5 IRFAN AHMED KHAN 1,450 235 - 1,685 1,450 235 - 1,685
HOUSE NO. 001/VI, BILLYS TERRACE, BLOCK 10-A,
28 MOHAMMAD ANIS KHAN MOHAMMAD ANIS KHAN 42201-6711711-1 MUHAMMAD NAFOOS KHAN 850 140 - 990 850 140 - 990
HOUSE NO. 53, SECTOR 35/B, KORANGI NO. 4,
KARACHI.
29 MOHAMMAD JAVED MOHAMMAD JAVED 42301-5600855-9 MOHAMMAD YOUSUF 526 77 - 603 526 77 - 603
FLAT # G-1, GROUND FLOOR, SEVEN STAR PRIDE,
ISLAM GANJ, GARDEN WEST, KARACHI.
30 MOHAMMAD IRFAN MOHAMMAD IRFAN 42201-0436254-7 MOHAMMAD MUBEEN 517 38 - 555 517 38 - 555
HOUSE # R-78, BLOCK # 13 / D - 3, GULSHAN-E-IQBAL,
KARACHI.
31 MEHMOOD AHMED MEHMOOD AHMED 33100-0707614-1 SAGHEER AHMED 681 113 - 794 681 113 - 794
ST NO. 1, P-97/15-C, GULISTAN COLONY NO. 2,
MOH. HAFEEZABAD, FAISALABAD.
32 MALIK SHAHID AMIN MALIK SHAHID AMIN 35202-0227040-9 MALIK MOHD AMIN 1,670 145 - 1,815 1,670 145 - 1,815
HOUSE NO, 279, PAK BLOCK MUHALLAH
ALLAMA IQBAL TOWN LAHORE LAHORE.
33 MALIK MUHAMMAD SHAKEEL MALIK MUHAMMAD SHAKEEL 35202-5832996-1 MANZOOR ILLAHI 616 102 - 718 616 102 - 718
HOUSE NO. D/17, SHAH FAISAL COLONY NO.1,
KARACHI.
34 KHALID KHALID 42201-0849422-7 MUHAMMAD SAEED 984 160 - 1,144 984 160 - 1,144
HOUSE # A-19, SECTOR # 8/B, BILAL COLONY, KORANGI,
KARACHI.
35 KASHIF JAVED KASHIF JAVED 42101-1569978-5 MUHAMMAD JAVED BALOCH 654 108 - 762 654 108 - 762
HOUSE NO. 20, BLOCK-78, SECTOR 5-D,
NEW KARACHI, KARACHI.
36 KAMAL AKHTER KAMAL AKHTER 42101-1429126-1 MUHAMMAD RAFIQ 850 140 - 990 850 140 - 990
HOUSE NO. R-472, BLOCK NO.16, F.B. AREA,
KARACHI.
171
172
(Rupees '000')
Interest/ Other
Annexure - 1
37 JAMSHED AHMED KHAN JAMSHED AHMED KHAN 42201-2336948-7 GULSHED AHMED KHAN 550 91 - 641 550 91 - 641
H NO. R-13,1ST FLOOR, SECTOR 33-C, KORANGI NO. 2,
KARACHI.
38 IMRAN ALI IMRAN ALI 42301-0807185-3 HAYDER ALI 650 64 - 714 650 64 - 714
FLAT NO. 604, 6TH FLOOR, EZAN GARDEN, PARSI COLONY,
SOLDIER BAZAR, KARACHI.
39 IMAD AZHAR HUSSAIN IMAD AZHAR HUSSAIN 42101-1857514-3 SYED AZHAR HUSSAIN 564 97 - 661 564 97 - 661
B-54, BLOCK-2, GULISTAN-E-JOHAR,
KARACHI.
40 HUMA JAMEEL HUMA JAMEEL 42101-8731397-4 JAMEEL AHMED 660 109 - 769 660 109 - 769
B-91, BLOCK-L, NORTH NAZIMABAD,
KARACHI.
41 HARIS KHALID HARIS KHALID 42201-2723198-1 MIAN KHALID UMAR 686 60 - 746 686 60 - 746
PLOT NO. 396/1, PEDRO DESOZA ROAD,
42 FAISAL MEHMOOD FAISAL MEHMOOD 35201-8520390-5 SH SADIQ ALI 596 50 - 646 596 50 - 646
HOUSE # 16, JAVED STREET, MAQBOOL ROAD, ICHRA,
LAHORE.
43 DILDAR SHAIKH DILDAR SHAIKH 42201-1023126-3 DOST MUHAMMAD SHAIKH 660 109 - 769 660 109 - 769
HOUSE NO. C-37/1, BLOCK 10-A, GULSHAN-E-IQBAL,
KARACHI.
44 CHAUDHRY MUHAMMAD HANIF CHAUDHRY MUHAMMAD HANIF 42301-9283363-9 CHAUDHRY MUHAMMAD AHMED 684 67 - 751 684 67 - 751
PLOT NO. 6-C, FLAT-1, RAHAT COMMERCIAL LANE NO. 1,
45 AYAZ SECURITY SERVICES PVT. LTD. ZAHID MEHMOOD MALIK 42101-4009799-9 SULTAN MAHMUD MALIK 790 140 - 930 790 140 - 930
A-2, 1ST FLOOR, PLOT NO. A-45, RAILWAY HOUSING ZAFAR MEHMOOD MALIK 42101-2187809-1
SOCIETY, BLOCK 13-B, GULSHAN-E-IQBAL, KARACHI.
46 AL HUDAIBIYAH (PVT) LTD. SHAHEEN BEGUM 42101-3544568-8 MUHAMMAD YAMIN 645 106 - 751 645 106 - 751
SUIT NO. 104, IST FLOOR, SUPREME SHOPPING MALL, MUHAMMAD JAVAID 42101-7638805-1
BLOCK-18, GULISTAN-E-JAUHAR, KARACHI. MUHAMMAD RAEES 42101-1912921-7
47 AJMAL ELAHI AJMAL ELAHI 42101-0855332-1 REHEM ELAHI 660 109 - 769 660 109 - 769
FLAT NO. 205, ZUBIADA HEIGHTS, NAZIMABAD,
KARACHI.
48 ABDUL HAFEEZ ABDUL HAFEEZ 36302-1674740-9 ABDUL RASHEED 520 46 - 566 520 46 - 566
HOUSE NO. 49/51 ST NO. BLOCK-Y, NEW MULTAN,
MULTAN.
49 ABDUL MAJEED ABDUL MAJEED 35202-8897922-7 ALI MUHAMMAD 517 38 - 555 517 38 - 555
802 G-4, JOHAR TOWN,
LAHORE.
50 ABDUL JABBAR ABDUL JABBAR 42201-8568926-9 SARDAR ALI 1,335 221 - 1,556 1,335 221 - 1,556
HOUSE NO.G-128, GALI NO.1, GULFISHAN SOCIETY,
AZEEMPURA, KARACHI.
51 MUHAMMAD EHTESHAM MUHAMMAD EHTESHAM 42201-2508144-1 MUAHMMAD YOUNUS 920 81 - 1,001 920 81 - 1,001
HOUSE NO. 87, SECTOR 35-B, KORANGI NO. 4,
KARACHI.
52 SYED NAJAMUL HASSAN SYED NAJAMUL HASSAN 42101-4805014-1 SYED AZIZ UR REHMAN 1,814 90 - 1,904 1,814 90 - 1,904
C-177, BLOCK-J, NORTH NAZIMABAD,
KARACHI.
53 MUHAMMAD IRSHAD MUHAMMAD IRSHAD 42301-1019531-7 MUHAMMAD IDREES 870 143 - 1,013 870 143 - 1,013
FLAT NO. 9, 4TH FLOOR, SAEEDA MANSION,
STREET NO. 6, BURNS ROAD, KARACHI.
54 MUHAMMAD AZAM SHEIKH MUHAMMAD AZAM SHEIKH 38403-2647375-7 SHEIKH MANZOOR AHMAD 623 94 - 717 623 94 - 717
VOHRA HOUSE, CLUB ROAD, HOUSE NO. 404,
CIVIL LINE, SARGODHA.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
55 MUHAMMAD ASLAM MUHAMMAD ASLAM 42101-8932412-5 MURAD KHAN 880 145 - 1,025 880 145 - 1,025
HOUSE # L-191, SECTOR 5-B-2, NORTH KARACHI,
KARACHI.
56 KHAWAJA NASIR MUHAMMAD KHAWAJA NASIR MUHAMMAD 37405-0259963-3 KHAWAJA NAZWAZ ULLAH AKHWAND 1,439 126 - 1,565 1,439 126 - 1,565
HOUSE NO. 109/8A, ST NO. 17, BEAUTY BANK CHAKLALA
SCHEEM-3, RAWALPINDI.
57 MUHAMMAD ISHTIAQ MUHAMMAD ISHTIAQ 35202-8761872-9 MUHAMMAD DIN 545 48 - 593 545 48 - 593
HOUSE NO. 27, STREET NO. 17, SADI PARK MAZONG,
LAHORE.
58 ASIF HAIDER ASIF HAIDER 13503-7680287-9 HAIDER ZAMAN 968 166 - 1,134 968 166 - 1,134
HOUSE NO. 29-B, MOHALLA GHAZI KOT TOWN SHIP
SECTOR-D MANSEHRA, MANSEHRA.
59 MALIK TANVEER SUBHANI MALIK TANVEER SUBHANI 81302-9551936-3 MALIK KARAMAT ULLAH 716 62 - 778 716 62 - 778
MAHAJAR COLONY, KHALIQABAD, MIRPUR AK,
MIRPUR.
60 MUHAMMAD NAVEED QADRI MUHAMMAD NAVEED QADRI 31304-9601904-1 HAFEEZ ULLAH 730 122 - 852 730 122 - 852
HOUSE # 1099, STREET NO. 01, MEHMOODABAD 06,
KARACHI.
61 SYED SARFARAZ HUSSAIN ZAIDI SYED SARFARAZ HUSSAIN ZAIDI 36302-6484853-5 SYED NAZAR ABBAS ZAIDI 713 119 - 832 713 119 - 832
ST NO. 5, HOUSE NO. 2, GULZAIB COLONY,
MULTAN.
62 JAMEEL AHMED JAMEEL AHMED 42101-7783834-9 MUHAMMAD MIRAJ UDDIN 629 104 - 733 629 104 - 733
HOUSE # 1-E 16/10 NAZIMABAD # 1,
KARACHI.
63 MUHAMMAD ASIM MUHAMMAD ASIM 35202-2741488-5 MUHAMMAD QASIM 882 76 - 958 882 76 - 958
G-2, PNT COLONEY, MULTAN ROAD,
LAHORE.
64 MALIK ABDUL KHALIQ MALIK ABDUL KHALIQ 42000-0381103-1 MALIK ABDUL JALIL 890 147 - 1,037 890 147 - 1,037
HOUSE A-19, BLOCK-I, NORTH NAZIMABAD,
KARACHI.
65 MUHAMMAD ISHFAQ MUHAMMAD ISHFAQ 35202-5275736-7 RIAZ AHMAD 638 57 - 695 638 57 - 695
4-A, SIRAJ BUILDING BEGUM ROAD, MOZANG,
LAHORE.
66 ABDUL RASHEED ABDUL RASHEED 42000-0467446-7 ABDUL MAJEED 898 153 - 1,051 898 153 - 1,051
HOSUE 3-D-9/9, SECTOR 3-D, DAKHANA NAZIMABAD,
KARACHI.
67 RASHID HUSSAIN RASHID HUSSAIN 42201-5697178-9 SHAHZADA NASEER QURESHI 917 152 - 1,069 917 152 - 1,069
HOUSE # 15, GALI NO.40, AREA 37, LANDHI 3 1/3,
KARACHI.
68 AZHAR IQBAL AZHAR IQBAL 38403-6466933-1 ZAHEER AHMAD 584 78 - 662 584 78 - 662
HOUSE NO. 53, SULTAN COLONY ROAD,
SARGODHA.
69 MALIK MUHAMMAD ALI MALIK MUHAMMAD ALI 31303-2420170-7 MALIK MUHAMMAD SAEED AKHTER 506 68 - 574 506 68 - 574
HOUSE NO. B3/65, MOHALLA MALIK FEROOZ DIN,
RAHIMYAR KHAN.
70 KHALID SAEED BUTT KHALID SAEED BUTT 36302-6617811-7 SAEED ULLAH BUTT 672 111 - 783 672 111 - 783
HOUSE NO. 239/B/2, SULTAN AHMED KHAN, STREET
CHAH BOHAR WALA, NEAR THANA JALIL ABAD, MULTAN.
71 MUSHTAQ ALI MUSHTAQ ALI 42201-3134944-9 HUSSAIN ALI 506 97 - 603 506 97 - 603
HOUSE NO 111-B/2, 1ST FLOOR, BAITUL MAJEED,
72 KHAWAJA SAADAT MASOOD SIDDIQUE KHAWAJA SAADAT MASOOD SIDDIQUE 36302-3891439-7 KHAWAJA ABDUL RAHEEM SIDDIQUE 543 104 - 647 543 104 - 647
HOUSE NO. 3081/8M PEER MARKET OUTSIDE
BOHAR GATE, MULTAN.
173
174
(Rupees '000')
Interest/ Other
Annexure - 1
73 SAYED ASAD ALI MEHMODI SAYED ASAD ALI MEHMODI 42201-2693411-1 SYED AHSAN ALI MEMOODI 714 53 - 767 714 53 - 767
HOUSE # 638-C, BLOCK-2, PECHS,
KARACHI.
74 IMRAN AHMED QURESHI IMRAN AHMED QURESHI 42000-9406939-7 MUHAMMAD AKRAM QURESHI 1,275 515 - 1,790 1,275 515 - 1,790
HOUSE NO. E/43, LIAQUAT ASHRAF COLONY 1,
MEHMOODABAD GATE, KARACHI.
75 SYED ABBAS RIZVI SYED ABBAS RIZVI 42201-8799735-5 SYED NASIR ABBAS RIZVI 648 108 - 756 648 108 - 756
HOUSE NO.2, STREET NO.E, BLOCK-4, SINDHI JAMIAT
CO-OPRETIVE SOCIETY, LANDHI BIN QASIM TOWN,KARACHI.
76 MUHAMMAD HANIF MUHAMMAD HANIF 42301-0701345-3 MUHAMMAD ISMAIL 686 61 - 747 686 61 - 747
HOUSE NO. 02, HAJI PEER WALI GALI, BARA-E-IMAM,
NISHTER ROAD, KARACHI.
77 MUHAMMAD IRFAN MUHAMMAD IRFAN 35202-2344438-7 MUHAMMAD SAIEN 707 117 - 824 707 117 - 824
HOUSE # 61 STREET # 53, GHAFFAR STREET MOHALLAH
CAPTAIN JAMAL ROAD, SANDA KALAN, LAHORE.
78 KHUSHI MUHAMMAD KHUSHI MUHAMMAD 42501-1160886-7 NOOR MUHAMMAD 1,289 218 - 1,507 1,289 218 - 1,507
HOUSE NO. P-126, PUNJAB TOWN, MALIR HALT,
KARACHI.
79 RANA HABEEB ULLAH RANA HABEEB ULLAH 42401-2369912-9 RANA ATA ULLAH 507 79 - 586 507 79 - 586
HOUSE NO. B-318, GALI NO.30, BALOCH GOTH,
SHAH FAISAL MOHALLAH, SECTOR 7-F, KARACHI.
80 MUHAMMAD RIZWAN ASLAM MUHAMMAD RIZWAN ASLAM 35202-2392049-7 SHEIKH MUHAMMAD ASLAM 667 110 - 777 667 110 - 777
HOUSE # 12, STREET # 15, QILA LAKSHMAN SINGH,
RAVI ROAD, LAHORE.
81 ABDUL MAALIK ABDUL MAALIK 42301-0943202-9 MOHAMMAD SALEEM 1,044 172 - 1,216 1,044 172 - 1,216
HOUSE # 192/2, BLOCK # B, KHUDADAD COLONY,
CAMBRON EMBBSI, SHAHRAH-E-QUIADEEN, KARACHI.
82 ABDUL QADIR ABDUL QADIR 42201-0469800-7 QAZI ABDUL MALIK 860 142 - 1,002 860 142 - 1,002
HOUSE NO E/268, NATHA KHAN GOTH,
SHAH FAISAL COLONY, KARACHI.
83 JAWED AKHTAR JAWED AKHTAR 42201-3465151-3 ABDUL SATTAR 1,720 283 - 2,003 1,720 283 - 2,003
B-38/1, BLOCK # 13-C, GULSHAN-E-IQBAL,
KARACHI.
84 MALIK KARAMAT ULLAH MALIK KARAMAT ULLAH 81302-5597003-3 MALIK SHAMUS DIN 746 64 - 810 746 64 - 810
KHALIQ ABAD PO KHAS MIRPUR AK MIRPUR AK
MIRPUR.
85 ASAD ULLAH KHAN ASAD ULLAH KHAN 17301-4389448-5 FARID ULLAH KHAN 1,682 279 - 1,961 1,682 279 - 1,961
HOUSE NO. 31 A III, GULBERG-III,
LAHORE.
86 SYED MOHAMMAD OBAID ATHAR WASTI SYED MOHAMMAD OBAID ATHAR WASTI 42101-2891157-5 SYED MUHAMMAD IDRESS AKHTAR WASTI 1,349 223 - 1,572 1,349 223 - 1,572
HOUSE # R-1183, BLOCK # 9, F.B. AREA,
KARACHI.
87 MUHAMMAD NAEEM ASMAT MUHAMMAD NAEEM ASMAT 42201-1325391-3 ASMAT ULLAH 915 89 - 1,004 915 89 - 1,004
HOUSE NO. 131, STREET NO 48, SECTOR I-8/2,
ISLAMABAD.
88 MUKESH KUMAR MUKESH KUMAR 42301-0151175-3 KANAYOMAL 870 143 - 1,013 870 143 - 1,013
FLAT C-303, NAZ PLAZA, M.A. JINNAH ROAD,
KARACHI.
89 MUMTAZ AHMED MUMTAZ AHMED 35202-5112823-9 KHUSHI MUHAMMAD 662 117 - 779 662 117 - 779
HOUSE NO. 659, BLOCK-E, GULSHAN RAVI,
LAHORE.
90 ALI RAZA SHAHANI ALI RAZA SHAHANI 35202-2714529-5 GHULAM HUSSAIN KHOKHAR 890 147 - 1,037 890 147 - 1,037
83 ZENAT BLOCK, ALLAMA IQBAL TOWN,
LAHORE.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Father’s / Husband’s Name
Annexure - 1
S.No. Name & Address of borrower Name NIC No. Principal Mark-up Others Total written off written off Relief Total
91 KHALEEL AHMED KHALEEL AHMED 31303-2452440-7 MUHAMMAD IBRAHIM 674 112 - 786 674 112 - 786
HOUSE NO. 01, SADIQ BAZAR, RAFIQUE CLOTH HOUSE,
RAHIMYAR KHAN.
92 MUSTANSAN GHIAS SADDIQI MUSTANSAN GHIAS SADDIQI 35201-4732112-7 GHAIS SIDDIQUE 688 114 - 802 688 114 - 802
HOUSE NO. 120, BLOCK-D, PUNJAB COOPERATIVE
HOUSING SOCIETY, DEFENCE, LAHORE.
93 SAIMA SAIMA 42301-0864662-6 AHMED 525 100 - 625 525 100 - 625
FLAT NO. 214, 2 FLOOR, FAIZAN HEIGHTS, KHARADAR,
MOOSALANE, KARACHI.
94 MUHAMMAD SHAMIM MUHAMMAD SHAMIM 42501-4958430-3 MUHAMMAD KABEER 522 100 - 622 522 100 - 622
FLAT NO. C-12, 3RD FLOOR, A ONE COMPLEX PHASE # 2,
MAIN ABUL HASSAN ISPHANI ROAD, GULSHAN-E-IQBAL,
KARACHI.
95 MUHAMMAD SHARJIL GOPLANI MUHAMMAD SHARJIL GOPLANI 42301-4432674-7 ABDUL SHAKOOR 1,088 145 - 1,233 1,088 145 - 1,233
HOUSE NO. 75-A/1, STREET-33, KHYABAN-E-SEHER,
PHASE-V, EXTENTION D.H.A., KARACHI.
96 ZAFAR IQBAL ZAFAR IQBAL 42201-0242921-7 MUHAMMAD IQBAL 637 105 - 742 637 105 - 742
FLAT NO. A-1/6, RUPALI RESIDENCY, BLOCK-19,
97 KHALID JAWED KHALID JAWED 42401-5786557-5 MUHAMMAD ANWAR 712 136 - 848 712 136 - 848
HOUSE NO 515, 3RD FLOOR, GALI NO 5, BLOCK-D,
SHAIR SHAH COLONY, KARACHI.
98 ASIM NAZIR GILL ASIM NAZIR GILL 35201-7719875-5 NAZIR AHMAD GILL 593 49 - 642 593 49 - 642
104-D, PUNJAB COOPERATIVE HOUSING SOCIETY,
CANTT LAHORE.
99 MUHAMMAD IRFAN MUHAMMAD IRFAN 41303-0170008-7 ABDUL RAZZAQ 1,514 722 - 2,236 1,514 722 - 2,236
HOUSE NO. F, PLOT NO. 38, SHAKHI PIR ROAD,
HYDERABAD.
100 ASIM IRSHAD ASIM IRSHAD 35404-6029816-5 MUHAMMAD IRSHAD 2,020 431 - 2,451 2,020 431 - 2,451
KASHIF PARK ST NO. 1, HOUSING COLONY,
SHEIKHUPURA.
101 JAVED HUSSAIN JAVED HUSSAIN 37401-2782569-5 SARDAR ALI 1,874 633 - 2,507 1,874 633 - 2,507
HOUSE NO. 38, QURESHIA STREET,
GUJAR KHAN.
102 ABDUL LATIF ABDUL LATIF 42501-4233635-9 YASEEN KHAN 645 106 - 751 645 106 - 751
HOUSE A/7, GULSHAN TAYYABI,
JAMA-E-MILLIA ROAD, MALIR, KARACHI.
103 FLEX POINT MUHAMMAD SALEEM 42301-3238650-9 SYED AMEER HUSSAIN 1,091 179 - 1,270 1,091 179 - 1,270
1ST FLOOR, SR 9/102, REATHA SWAMI BUILDING, SYED FAISAL AMEER 42101-5634542-7 ABDUL SATTAR
104 BABER GULZAR BUTT BABER GULZAR BUTT 42201-0291169-1 GULZAR MUHAMMAD BUTT 953 168 - 1,121 953 168 - 1,121
HOUSE NO. 388/3, LASBELLA HOUSE, GARDEN,
KARACHI.
105 JAMAL NASIR JAMAL NASIR 42101-1846738-1 KHUDA BUKSH 890 147 - 1,037 890 147 - 1,037
HOUSE C-4, BLOCK-20, RAILWAY SOCIETY,
106 MUNASIB KHAN MUNASIB KHAN 42501-1263522-9 BEHRAM KHAN 926 154 - 1,080 926 154 - 1,080
HOUSE NO. B-130, GULSHAN-E-RAFI,
SOCIETY JAMIA MILLIA ROAD MALIR, KARACHI.
107 MATEEN FOODS INTERNATIONAL (PVT) LTD WASIF KHAN 91506-0135669-1 MUHAMMAD MATEEN KHAN 1,189 187 - 1,376 1,189 187 - 1,376
SB-1, BLOCK-1, PAKISTAN TULIP VELLEY, MUHAMMAD MATEEN KHAN 42101-9830916-3 CHOWDHRY MUHAMMAD GULRAIZ KHAN
GULISTAN E JAUHAR, SAMINA GULRAIZ 42101-5896501-0 MOHAMMAD KHALIL KHAN
KARACHI. CHOWDHRY MUHAMMAD GULRAIZ KHAN 42101-2790791-9 CH.MOHAMMAD IBRAHIM KHAN
108 FARHAN RASHEED FARHAN RASHEED 42401-5421870-7 ABDUL RASHEED 688 113 - 801 688 113 - 801
HOUSE NO.760, SECTOR 5/J, SAEEDABAD, BALDIA TOWN,
KARACHI.
175
176
(Rupees '000')
Interest/ Other
Annexure - 1
109 SAEED AHMED SAEED AHMED 36303-1751133-3 MUHAMMAD RAFIQ 624 103 - 727 624 103 - 727
318, E BLOCK, SHAH RUKNAY ALAM COLONY,
MULTAN.
110 NAFEES UR REHMAN NAFEES UR REHMAN 42301-2227462-1 ABDUL KHALIQ 828 136 - 964 828 136 - 964
FLAT # D 1, 1ST FLOOR, PLOT # 68/9/2 B AL YOUSUF GARDEN
GHULAM HUSSAIN QASIM ROAD, GARDEN WEST, KARACHI.
111 SHEIKH ABDUL REHMAN SHEIKH ABDUL REHMAN 42301-4507311-5 SHEIKH EHSAN ELAHI 949 84 - 1,033 949 84 - 1,033
FLAT NO 25, 5TH FLOOR, HUSSANI BUILDING,
HAKKANI CHOWK, KARACHI.
112 ADNAN ATHER ADNAN ATHER 37405-9079652-3 MUHAMMAD ATHER SHAMIM 891 80 - 971 891 80 - 971
HOUSE NO CB-403, AYAN STREET, QUBA MARKET,
LANE NO 05, PESHAWAR ROAD, RAWALPINDI.
113 GHULAM MUHAMMAD MUGHAL GHULAM MUHAMMAD MUGHAL 37201-0204298-1 KHAN MUHAMMAD MUGHAL 513 68 - 581 513 68 - 581
HOUSE NO F-2/81, MOHALLAH HUSSAINI,
NEAR GHALAH MANDI CHAKWAL.
114 ISHTIAQ AHMED ISHTIAQ AHMED 81302-2693057-9 CHAUDHARY ABDUL KHALIQ 556 106 - 662 556 106 - 662
HOUSE NO 26 B, SECTOR B 4, MIRPUR AK
MIRPUR.
115 MUHAMMAD AJAZ MUHAMMAD AJAZ 35201-8851023-7 MUHAMMAD SHAREEF 609 101 - 710 609 101 - 710
PLOT NO. MIIE-A 265, 1ST FLOOR, STREET 4, TANGA STAND
BLOCK-A, URDU BAZAR, SHERSHAH, KARACHI.
116 ABDUL MAJID CHAUDRY ABDUL MAJID CHAUDRY 42201-4721695-9 ABDUL MALIK 665 59 - 724 665 59 - 724
FLAT # A-10, PLOT NO. 1-2-3, DOLMEN ARCADE,
SHAHEED-E-MILLAT BAHADURABAD, KARACHI.
117 MAKHDOOM QAISER UZ ZAMAN HASHMI MAKHDOOM QAISER UZ ZAMAN HASHMI 36103-8455109-9 MAKHDOOM FAKHAR U ZAMAN HASHMI 943 180 - 1,123 943 180 - 1,123
COLONY NO 3, HOUSE NO 1382, ST NO 11,
BLOCK-A, KHANEWAL.
118 MUHAMMAD BUX MUHAMMAD BUX 41304-9731729-9 RAHEEM BUX 601 50 - 651 601 50 - 651
FLAT # 23, SADAF PLAZA, TANDO WALI MUHAMMAD,
HYDERABAD.
119 SHEIKH MUHAMMAD KHALIQ UR REHMAN SHEIKH MUHAMMAD KHALIQ UR REHMAN 37405-2752668-9 SHEIKH MUHAMMAD HAFEEZ UR REHMAN 526 47 - 573 526 47 - 573
HOUSE M 1001 STREET 41 MOHALLAH AMER PURA,
RAWALPINDI.
120 MUHAMMAD ANWAR BAIG MUHAMMAD ANWAR BAIG 35202-3051540-1 ALI AKBAR BAIG 1,007 165 - 1,172 1,007 165 - 1,172
HOUSE NO 31, ST NO 1, MALIK PARK, KARAM NAGAR,
KHOKHAR ROAD, LAHORE.
121 AFTAB SHAFIQ AFTAB SHAFIQ 42301-1108264-1 MUHAMMAD SHAFIQ 974 48 - 1,022 974 48 - 1,022
HOUSE NO 95/2, 21 STREET, KHAYABAN-E-SEHAR,
122 NAZEER HUSSAIN NAZEER HUSSAIN 35202-6064872-3 GHULAM QADIR 1,207 197 - 1,404 1,207 197 - 1,404
HOUSE NO 25-A, BLOCK-A, AL FAISAL TOWN,
CANTT LAHORE.
123 SHAHBAZ AHMED SHAHBAZ AHMED 33100-1031798-7 GHULAM RASOOL 850 140 - 990 850 140 - 990
HOUSE # 673-E, GALI # 4, BLOCK-D, SHER SHAH STREET,
3RD FLOOR, FLAT # 5, KARACHI.
124 MUDASSAR MALIK MUDASSAR MALIK 35202-1432544-3 MALIK MUZAFFAR 621 102 - 723 621 102 - 723
HOUSE NO 76, STREET NO 76, NATIONAL TOWN,
SANDA ROAD, LAHORE.
125 CHOUDHRY SHABIR AHMED CHOUDHRY SHABIR AHMED 61101-2925307-5 WADI HUSSIAN 1,418 250 - 1,668 1,418 250 - 1,668
BANGREEL KHURD PO RAWAT,
ISLAMABAD.
126 MALIK TASHIF YOUSAF MALIK TASHIF YOUSAF 34603-2824318-7 MALIK MUHAMMAD YOUSAF KHAN 770 121 - 891 770 121 - 891
PUL AIK HABIB PURA PASRUR ROAD C/O MUHAMMAD
SALEEM MIR TIMBER MARKET, SIALKOT.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
127 ZAHEER UL HASSAN ANSARI ZAHEER UL HASSAN ANSARI 42201-0692690-1 ZAMEER-UL-HASSAN ANSARI 828 136 - 964 828 136 - 964
D-22, BLOCK-3, CLIFTON BEHIND BILAWAL HOUSE,
CLIFTON, KARACHI."
128 ALTAF HUSSAIN ALTAF HUSSAIN 35201-1690262-7 GHULAM HUSSAIN 805 131 - 936 805 131 - 936
HOUSE NO. P-41, STREET-3, BLOCK-N,
NORTH NAZIMABAD, KARACHI.
129 AKRAM QURESHI AKRAM QURESHI 42101-6064246-3 ISLAM UDDIN 650 64 - 714 650 64 - 714
HOUSE L-1062, SECTOR 5 B 2, NORTH KARACHI,
KARACHI.
130 RANA MOHAMMAD BABER RANA MOHAMMAD BABER 42201-5312829-7 RANA MUHAMMAD NASEER 697 123 - 820 697 123 - 820
HOUSE NO 25 A, STREET 17, AREA C, QAYUMABAD,
KARACHI.
131 SYED SIBTE HASSAN NAQVI SYED SIBTE HASSAN NAQVI 42101-1615425-1 SYED AZIZ AHMAD NAQVI 938 165 - 1,103 938 165 - 1,103
H NO A-9, RUFI GREEN LAND SECTOR 13-A,
GULZAR-E-HIJRI, KARACHI.
132 ISLAM UD DIN ISLAM UD DIN 42301-9220125-5 MERAJ UDDIN 572 92 - 664 572 92 - 664
FLAT NO 302, 3RD FLOOR, SUMAIYA AMARA BUILDING,
SULEMAN STREET, SHOE MARKET, KARACHI.
133 MUDASSIR HUSSAIN MUDASSIR HUSSAIN 42201-2276812-5 MUZAMMIL MIAN 660 109 - 769 660 109 - 769
FLAT NO C-30, PARADISE SQUARE, PLOT NO 5 S NO 205
BLOCK 13/E, GULSHAN-E-IQBAL, KARACHI.
134 HAQ NAWAZ HAQ NAWAZ 32103-0269748-1 MUHAMMAD KHAN 637 105 - 742 637 105 - 742
HOUSE NO 76, STREET NO 15, CHUDHARY PARK,
RASHID ROAD, BILAL GUNJ, LAHORE.
135 MUHAMMAD YOUNUS KARAR MUHAMMAD YOUNUS KARAR 42201-2749316-3 TAYYAB KARAR 924 185 - 1,109 924 185 - 1,109
HOUSE NO. R-172, BLOCK-11, GULSHAN-E-IQBAL,
KARACHI.
136 MUHAMMAD IMRAN MUHAMMAD IMRAN 35302-1875428-3 TAJ UDDIN 660 109 - 769 660 109 - 769
HOUSE NO A-116, SECTOR 11-A, NORTH KARACHI,
KARACHI.
137 MUHAMMAD ASLAM MUHAMMAD ASLAM 35202-1285025-1 MUHAMMAD SULTAN 851 71 - 922 851 71 - 922
H # 141-D, MOHALLA NAWAB TOWN 1 KM RAIWIND
ROAD, LAHORE.
138 ABDUL WAHEED ABDUL WAHEED 42301-9751257-7 RASHEED AHMED 1,258 207 - 1,465 1,258 207 - 1,465
HOUSE NO 1607, STREET NO 26, AZAM BASTI,
KARACHI.
139 MUHAMMAD ARSHAD MUHAMMAD ARSHAD 33100-3374986-1 HAJI RANJHA 546 90 - 636 546 90 - 636
HOUSE # 22 STREET # 2 AKBAR ABAD,
FAISALABAD.
140 MUHAMMAD AMJAD MUHAMMAD AMJAD 35202-5091579-3 ABDUL RASHEED 660 109 - 769 660 109 - 769
HOUSE NO 286 D, MOHALLAH GULSHAN RAVI,
GULSHAN RAVI, LAHORE.
141 ABDUL JABBAR ABDUL JABBAR 42101-1433194-3 ABDUL SATTAR 1,720 283 - 2,003 1,720 283 - 2,003
HOUSE L-717, SECTOR 5C2, NORTH KARACHI,
KARACHI.
142 MUHAMMAD JAMAL MUHAMMAD JAMAL 42201-5341639-5 BASHIR AHMED 1,207 197 - 1,404 1,207 197 - 1,404
HOUSE NO. B-3 LANE NO G-23, BLOCK-05,
CLIFTON, KARACHI.
143 MUHAMMAD RIAZ MALIK MUHAMMAD RIAZ MALIK 35200-1557583-1 ALLAH BUKH 1,901 316 - 2,217 1,901 316 - 2,217
CHAUDHARY QAYYAUM HOUSE STREET AMBALA SWEETS,
SANDA ROAD, LAHORE.
144 MOIN SHIWANI MOIN SHIWANI 42301-5979311-3 ABDUL KARIM SHIWANI 1,376 228 - 1,604 1,376 228 - 1,604
FLAT NO F-07, ROCK HEAVEN APPARTMENT BLOCK-8,
CLIFTON, KARACHI.
177
178
(Rupees '000')
Interest/ Other
Annexure - 1
145 MUHAMMAD JAWED MUHAMMAD JAWED 42201-7063195-5 ABDUL GHAFFAR 1,376 228 - 1,604 1,376 228 - 1,604
FLAT NO B 10, 5TH FLOOR, PRINCE HOMES,
146 SYED SHAHID NAYYER SYED SHAHID NAYYER 42101-7773135-5 SYED NAYYER RAZA 509 75 - 584 509 75 - 584
HOUSE NO B-33, BLOCK-I, NORTH NAZIMABAD,
KARACHI.
147 ASLAM PERVAIZ ASLAM PERVAIZ 42201-8794775-3 ADDUL QUDDUS 944 84 - 1,028 944 84 - 1,028
HOUSE NO 103 PARDESI PALACE JAMSHED ROAD NO 3,
KARACHI.
148 ABDUL RASHID ABDUL RASHID 42101-7986470-7 ABDUL WAHID 921 162 - 1,083 921 162 - 1,083
HOUSE # 9/8, MASJID QUAT UL ISLAM COLONY,
LIAQUATABAD, KARACHI.
149 MUHAMMAD KASHIF PASHA MUHAMMAD KASHIF PASHA 42201-0722699-7 MUHAMMAD ANWAR PASHA 930 163 - 1,093 930 163 - 1,093
HOUSE # A-98, BLOCK 13-B, RAILWAY HOUSING SOCIETY,
150 ALI ASGHAR KHAN ALI ASGHAR KHAN 35201-1340687-7 MUAMBER KHAN 890 147 - 1,037 890 147 - 1,037
HOUSE 312, MAI PATHANI HOTEL STREET STREET 1,
QURBAN LINE, GULBERG, LAHORE.
151 MUNAWAR HUSSAIN MUNAWAR HUSSAIN 42201-7793132-3 ATHER HUSSAIN 653 108 - 761 653 108 - 761
HOUSE NO. R-13, BLOCK-11, GULSHAN-E- IQBAL,
KARACHI.
152 TARIQ MEHMOOD TARIQ MEHMOOD 31303-7342442-5 SALAMAT ALI 597 53 - 650 597 53 - 650
HOUSE NO 17-D, STREET NO 02, Z BLOCK,
GULSHAN E USMAN, RAHIMYAR KHAN.
153 ABDUL HAMEED ABDUL HAMEED 37201-1595130-9 GHULAM JELANI 520 69 - 589 520 69 - 589
HOUSE MADINA TOWN MASOOD ABAD,
BHOUN ROAD, CHAKWAL.
154 SHAHID HAROON QURESHI SHAHID HAROON QURESHI 37201-7840596-1 SHEIKH SHARIF HUSSAIN 603 99 - 702 603 99 - 702
HOUSE NUMBER MCB-1/1013, CHISTIAN DHOKOO ROAD,
CHAKWAL.
155 SARWAR ALI SARWAR ALI 42301-0716384-5 MUHAMMAD SIDDIQUE 678 67 - 745 678 67 - 745
HOUSE NO 212, 2 FLOOR, STREET NO 4, SECTOR-D,
156 MUHAMMAD JAVED RAO MUHAMMAD JAVED RAO 36103-4119478-3 RAO MUHAMMAD SARWAR KHAN 805 146 - 951 805 146 - 951
PEOPLES COLONY, HOUSE NO 1-3, STREET NO 4,
BLOCK-W, KHANEWAL.
157 SHAHID HASSAN SHAHID HASSAN 37405-9875511-3 DILBER HASSAN 680 766 - 1,446 680 766 - 1,446
HOUSE NO 93, BLOCK-B, SATELLITE TOWN,
RAWALPINDI.
158 MUHAMMAD HAFIZ UR REHMAN MUHAMMAD HAFIZ UR REHMAN 36302-1533429-9 ZIA UR REHMAN 567 47 - 614 567 47 - 614
473 MUHALLAH WALLAYATABAD COLONY NO 2,
MULTAN.
159 AMIR AZIZ AMIR AZIZ 42201-1560426-5 ABDUL AZIZ 1,109 109 - 1,218 1,109 109 - 1,218
MUSTAFA TAIRAS, FLAT NO 201-202,
MAIN BAHADURABAD CHOWRANGI, KARACHI.
160 SYED MASHKOOR AHMED JILANI SYED MASHKOOR AHMED JILANI 42101-5980079-7 SYED MAHBOOB AHMED JILANI 645 106 - 751 645 106 - 751
HOUSE NO A-112, BLOCK-N, NORTH NAZIMABAD,
KARACHI.
161 MUHAMMAD SALEEM MUHAMMAD SALEEM 42201-0508273-1 HAJI WALI MUHAMMAD 555 29 - 584 555 29 - 584
HOUSE NO. A-42,43, SHEET-25,
MODEL COLONY, KARACHI.
162 MUHAMMAD ASGHAR MUHAMMAD ASGHAR 33203-1418102-7 SANA ULLAH 604 53 - 657 604 53 - 657
15-P, P BLOCK, GREEN TOWN,
FAISALABAD.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
163 MUHAMMAD HAJI MUHAMMAD HAJI 42401-5540380-1 YOUSUF 860 142 - 1,002 860 142 - 1,002
HOUSE NO. 1728/341, KS MUJAHID ROAD,
JUNA GARH MUHALA, BALIDIA TOWN, KARACHI.
164 MUHAMMAD SAGHIR AHMED MUHAMMAD SAGHIR AHMED 42401-8080664-7 MUHAMMAD RABAN 1,678 275 - 1,953 1,678 275 - 1,953
HOUSE # 739, STREET-32, SAEEDABAD, BALDIA TOWN,
UC-5, KARACHI.
165 MATI UR REHMAN MATI UR REHMAN 61101-1989406-9 MURID UL HAQ 1,248 109 - 1,357 1,248 109 - 1,357
HOUSE NO. 46-B, STREET NO. 23,
G-6/2, ISLAMABAD.
166 MUHAMMAD AQEEL MUHAMMAD AQEEL 42201-7632471-7 MUHAMMAD NAQI 681 113 - 794 681 113 - 794
HOUSE NO 1/623, SHAH FAISAL COLONY,
KARACHI.
167 SHEIKH MUHAMMAD ASHRAF SHEIKH MUHAMMAD ASHRAF 36302-0264230-7 SHEIKH MUHAMMAD GHAFOR 1,007 165 - 1,172 1,007 165 - 1,172
HOUSE NO 2353/9, MUHALA SULTANI,
NEAR CHOK GHANTA GHAR, MULTAN.
168 AQEEL AHMED AQEEL AHMED 42201-6326907-7 ATI ULLAH 621 102 - 723 621 102 - 723
HOUSE NO R-598, SECTOR NO 1-A, JACOB LINE,
KARACHI.
169 KHALID KHAN KHALID KHAN 42201-8577623-9 ZAMEER ULLAH KHAN 1,225 200 - 1,425 1,225 200 - 1,425
HOUSE NO D-11, GULISTAN-E-RAFI, MALIR,
KARACHI.
170 NADEEM KHAN NADEEM KHAN 32203-2794891-9 DARWASH KHAN 890 147 - 1,037 890 147 - 1,037
HOUSE # 02, STREET # 03, HASHTAM COLONY,
CHIRA ROAD, SADIQABAD, RAWALPINDI.
171 MOHAMMED AMEEN KHAN MOHAMMED AMEEN KHAN 42101-8467837-9 ABDUL SHAKOOR 616 102 - 718 616 102 - 718
HOUSE NO 269, SECTOR D, BHITTAI COLONY,
KORANGI CROSSING, KARACHI.
172 MUHAMMAD SHAKEEL MUHAMMAD SHAKEEL 42401-6255346-7 MUHAMMAD ISMAIL MALIK 621 102 - 723 621 102 - 723
HOUSE # 80, F BLOCK, NAVEL COLONY,
HAWKSBAY ROAD, MARI POOR, KARACHI.
173 DENZIL AYAN DENZIL AYAN 41304-1158729-9 JAMES 562 95 - 657 562 95 - 657
FLAT NO.513, REHMAN PLAZA, GARDEN EAST,
KARACHI.
174 ZAHOOR ELAHI PIRACHA ZAHOOR ELAHI PIRACHA 35201-8450517-9 MEHBOOB ELAHI PIRACHA 805 131 - 936 805 131 - 936
HOUSE # 141 D NEW SAMANABAD,
LAHORE.
175 MUHAMMAD HUSSAIN MIRZA MUHAMMAD HUSSAIN MIRZA 42201-0722927-7 ASAD ALI MIRZA 557 40 - 597 557 40 - 597
HOUSE NO B 120, BLOCK-13, GULISTAN-E-JAUHAR,
KARACHI.
176 HAYAT MUHAMMAD HAYAT MUHAMMAD 42201-0500212-7 MUHAMMAD QASIM ANSARI 630 55 - 685 630 55 - 685
HOUSE # K-512, 1ST FLOOR, SECTOR-35/B,
KORANGI NO.5, KARACHI.
177 TAJ UL WAQAR TAJ UL WAQAR 42101-7841648-1 TAJ UL IBRAR 989 164 - 1,153 989 164 - 1,153
HOUSE R 395, SECTOR-7, D-2 NORTH KARACHI,
KARACHI.
178 MUHAMMAD KAMRAN MUHAMMAD KAMRAN 16101-6418088-9 HAJI ABDUL RAHIM 792 28 - 820 792 28 - 820
House NO.221, STREET NO.5 01 SHEIKH MALTOON TOWN,
MARDAN.
179 RAJA SHAHID KHURSHEED RAJA SHAHID KHURSHEED 37405-9826561-7 RAJA KHURSHEED AKHTER 887 78 - 965 887 78 - 965
HOUSE NO 612-A, STREET NO 8, AFSHAN COLONY,
RAWALPINDI.
180 MUHAMMAD MOHSIN MUHAMMAD MOHSIN 35202-6274307-1 MUHAMMAD AMIN 913 160 - 1,073 913 160 - 1,073
HOUSE 2/A, STREET 109, ISLAM PURA,
LAHORE.
179
180
(Rupees '000')
Interest/ Other
Annexure - 1
181 MEHMOOB ALI MEHMOOB ALI 17301-5361253-1 BARKAT ALI 594 21 - 615 594 21 - 615
HOUSE IN QURESHI STREET, GULBARG # 01, PESHAWAR
PESHAWAR.
182 RIZWAN AZHAR RIZWAN AZHAR 35202-2552005-1 SHEIKH AZHAR HUSSAIN 1,137 168 - 1,305 1,137 168 - 1,305
232 BI JOHAR TOWN LAHORE,
LAHORE.
183 SHEIKH SHAKEEL AKHTAR SHEIKH SHAKEEL AKHTAR 34104-2323501-1 SHEIKH MANZOOR AHMED 816 134 - 950 816 134 - 950
MODEL COLONY, WAZIRABAD
WAZIRABAD.
184 MUHAMMAD ABDUL KAREEM MUHAMMAD ABDUL KAREEM 42201-4765314-3 ZAHOOR KHALDI 805 131 - 936 805 131 - 936
HOUSE NO, 655, C 1 AREA LANDHI,
KARACHI.
185 SHAMSHAD AHMED AKHTAR SHAMSHAD AHMED AKHTAR 36601-5689269-1 SHAHBUDD DIN 510 73 - 583 510 73 - 583
K T NO 694, STATION CHOWK, TOBA ROAD,
NEAR CITY SCHOOL, JHANG SADAR, JHANG.
186 SULEMAN ZAFAR SULEMAN ZAFAR 42301-4794170-1 MUHAMMAD ZAFAR IQBAL 934 155 - 1,089 934 155 - 1,089
HOUSE NO X-12, 19 EAST STREET, DEFENCE PHASE-1,
KARACHI.
187 SHEHZAD RASHEED TAREEN SHEHZAD RASHEED TAREEN 54400-3519472-3 ABDUL RASHEED 860 142 - 1,002 860 142 - 1,002
HOUSE NO 84-C, STREET NO 17, KHAYABAN E SEHAR,
188 NADEEM ABBAS NADEEM ABBAS 42201-6213628-9 MUHAMMAD SALEEM 629 103 - 732 629 103 - 732
HOUSE 78, SECTOR 32/C, KORANGI 1 1/2,
KARACHI.
189 MUHAMMAD AKRAM KHAN MUHAMMAD AKRAM KHAN 42201-0430937-1 MANZOOR AHMED KHAN 658 58 - 716 658 58 - 716
HOUSE # E-315-316, SECTOR-E, STREET # 4,
190 SHAFQUAT ULLAH SHAFQUAT ULLAH 42301-2112111-9 ZAFAR ULLAH 870 143 - 1,013 870 143 - 1,013
HOUSE NO 51/3/1, DAWOODIA COMPOUND, GHULAM
HUSSAIN QASIM ROAD, GARDEN WEST, KARACHI.
191 MUHAMMAD USMAN MUHAMMAD USMAN 42301-0892683-5 MOHAMMAD HASHIM 690 131 - 821 690 131 - 821
FLAT NO. B-101, 1ST FLOOR, NASHEMAN ARCADE,
PLOT NO 714/4, JAMSHED ROAD NO. 3, KARACHI.
192 MUHAMMAD MADNI MUHAMMAD MADNI 31202-3501430-3 SOFI MUHAMMAD RAMZAN 601 53 - 654 601 53 - 654
HOUSE NO BVI 1621, CHOWK SHADRA,
BAHAWALPUR.
193 MUHAMMAD ZULFIQAR MUHAMMAD ZULFIQAR 42101-8723982-3 MOHAMMAD ISHAQ 671 127 - 798 671 127 - 798
FLAT NO 1641, 1ST FLOOR, BISMILLAH TERRACE,
NAZIMABAD # NO: 2, KARACHI.
194 NOMAN ABDUL RAUF NOMAN ABDUL RAUF 42301-3275034-9 ABDUL RAUF AWAN 626 58 - 684 626 58 - 684
HOUSE NO A/566, MASOOM SHAH COLONY,
MEHMOODABAD, KARACHI.
195 MUNIR AHMED MUNIR AHMED 37101-1677189-1 GHULAM MUSTAFA 629 103 - 732 629 103 - 732
GALLI / MOHALLAH EID GAH, SHAKARDARAH,
ATTOCK.
196 JAVED IQBAL JAVED IQBAL 31303-1422372-5 MUHAMMAD IQBAL 566 92 - 658 566 92 - 658
HOUSE NO 100-BI, UMER BLOCK, ABBASIA TOWN,
RAHIMYAR KHAN.
197 AMJAD ALI AMJAD ALI 36302-5609756-9 JAMAT ALI 549 49 - 598 549 49 - 598
SAMIJA BAD NO 1 MUHALLA SAHREEF PURA MULTAN
MULTAN.
198 ABDUL HAFEEZ ATHER ABDUL HAFEEZ ATHER 34603-2256002-7 CHAUDHARY FATEH 683 86 - 769 683 86 - 769
HOUSE NO 30/376, SHAH SYEDAN CHURCH ROAD MUHAMMAD
NEAR GOVT SARDAR BEGUM HOSPITAL, SIALKOT.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
199 MEHDI RAZA MEHDI RAZA 35202-3044887-3 MUHAMMAD YASEEN 1,121 175 - 1,296 1,121 175 - 1,296
HOUSE NO 17, COLLEGE BLOCK, ALLAMA IQBAL TOWN,
LAHORE.
200 MUHAMMAD ARSHAD NADEEM MUHAMMAD ARSHAD NADEEM 36103-1589886-1 MUHAMMAD SADIQ 1,020 167 - 1,187 1,020 167 - 1,187
HOUSE 157, AL-HAMD GARDENS EST 2,
NEAR SAGIAN PULL, SHAHDARA, LAHORE.
201 MAZHAR MEHMOOD MAZHAR MEHMOOD 42101-6331005-3 SH RASOOL MEHMOODI 1,656 271 - 1,927 1,656 271 - 1,927
HOUSE # B-194, BLOCK-6, GULSHAN-E-IQBAL,
KARACHI.
202 MUHAMMAD IRFAN MUHAMMAD IRFAN 42101-9055092-9 MUKHTAR AHMED 653 108 - 761 653 108 - 761
HOUSE R-375, SECTOR 14-B, SHADMAN TOWN,
203 KANWAR ABID MAJEED KANWAR ABID MAJEED 42201-8485110-3 KANWAR ABDUL MAJEED 626 100 - 726 626 100 - 726
A-205/8, BLOCK 13-D/3, GULSHAN-E-IQBAL,
KARACHI.
204 SYED MUHAMMAD RAZI SYED MUHAMMAD RAZI 42101-9701338-1 SYED MUHAMMAD SAEED 839 138 - 977 839 138 - 977
HOUSE NO B-1, BLOCK-T, NORTH NAZIMABAD,
KARACHI.
205 SHAFIQ UR REHMAN KHAN SHAFIQ UR REHMAN KHAN 42201-6157756-3 ABDUL REHMAN KHAN 890 147 - 1,037 890 147 - 1,037
FLAT -A-5, PLOT-3, AL HAYAT SQUARE, AL HILAL
COOPERATIVE HOUSING SOCIETY GULSHAN-E-IQBAL,
KARACHI.
206 MUHAMMAD FAHIM MUHAMMAD FAHIM 36302-0213880-7 MALIK HAYAT ULLAH 793 129 - 922 793 129 - 922
SABZI MANDI ROAD, HOUSE NO 3707/1,
MUHALLA HASSAN PARWANA COLONY, MULTAN.
207 MOIZ MOIZ 42301-3616434-9 ABBAS BHAI 576 94 - 670 576 94 - 670
FLAT NO. 102,103, SAMAR CLASSICS, M.A. JINNAH ROAD,
208 ARIF MEHMOOD ARIF MEHMOOD 42101-7638393-5 MEHMOOD HASAN 580 50 - 630 580 50 - 630
HOUSE L-73, SECTOR 11/C-1, SIR SYED TOWN,
209 MUHAMMAD TASLEEM QAMER MUHAMMAD TASLEEM QAMER 36302-5540975-1 MEHARBAN QAMER 600 53 - 653 600 53 - 653
GALI BALDOZER WALI, MASOOM SHAH ROAD, ST NO 1,
MUHALA WRITERS COLONY, MULTAN.
210 MUHAMMAD FARID AWAN MUHAMMAD FARID AWAN 13101-0903290-7 ATTA MUHAMMAD AWAN 554 99 - 653 554 99 - 653
BEARR PO BOX, PUBLIC SCHOOL,
ABBOTABAD.
211 SYED IFTIKHAR HUSSAIN JAFEERY SYED IFTIKHAR HUSSAIN JAFEERY 42201-7905337-1 SYED MAZHAR HUSSAIN JAFFERY 677 129 - 806 677 129 - 806
HOUSE B-507, B-AREA, MALIR TOWN,
KARACHI.
212 MOAZZAM ALI MOAZZAM ALI 38403-9755919-9 MIAN ZAHOOR AHMAD 519 84 - 603 519 84 - 603
HOUSE NO.261, BLOCK-A, SATELLITE TOWN,
SARGODHA.
213 HABIB UR REHMAN QUERSHI HABIB UR REHMAN QUERSHI 35202-0145432-1 ABDUL GHAFOOR QURESHI 648 57 - 705 648 57 - 705
MUMTAZ STREET, HOUSE NO 18-B, MOHALLAH
HABIB ULLAH RAOD, GHARI SHAHU, LAHORE.
214 SHAHZAD ALI SHAHZAD ALI 33100-0794405-3 SUBHAN ALI 606 54 - 660 606 54 - 660
P-3374, MOH. MANSOORABAD,
NEAR AL-MAKKAH GENERAL STORE, FAISALABAD.
215 MUHAMMAD RAFEY MUHAMMAD RAFEY 42000-6860181-5 JAMEEL UR REHMAN 503 44 - 547 503 44 - 547
HOUSE NO. B-81, KHAYABAN-E-BADAR, 21ST STREET,
216 MUHAMMAD RAZA MUHAMMAD RAZA 42201-0773264-3 BARKAT ALI 606 98 - 704 606 98 - 704
FLAT NO B-4, 2ND FLOOR, AMAN HEIGHTS, PATEL PARA,
KARACHI.
181
182
(Rupees '000')
Interest/ Other
Annexure - 1
217 SALEEM ALI SALEEM ALI 42301-0891930-5 JUMMA SALAH MUHAMMAD 877 143 - 1,020 877 143 - 1,020
FLAT NO 4, ALI ASGHER HOUSE, 2ND FLOOR,
218 MANZOOR AHMED AWAN MANZOOR AHMED AWAN 38403-5864814-3 BADAR UD DIN 816 132 - 948 816 132 - 948
HOUSE NO 270, STREET NO. 24, GULZAR-E-QUAID,
RAWALPINDI.
219 MUHAMMAD JAMIL KHAN MUHAMMAD JAMIL KHAN 37405-0640712-1 MUNSHI KHAN 870 143 - 1,013 870 143 - 1,013
HOUSE 98-A, RAHAT COLONY, KAMALABAD,
RAWALPINDI.
220 RAVI PLASTIC INDUSTRIES (PVT) LTD KHALEEQ UR REHMAN / 35202-9256360-1 MUHAMMAD RAFIQ QURESHI 510 73 - 583 510 73 - 583
PLOT NO. 1174-1175, USMAN STREET, ATIQ UR REHMAN / 35202-0196327-7
NEAR BABA RAFAI DARBAR, OPPOSITE CHOHAN ROAD, SHAFIQUE UR REHMAN 35202-5624983-5
STOP BUND ROAD, LAHORE.
221 MUHAMMAD IMRAN SHAIKH MUHAMMAD IMRAN SHAIKH 41303-1197998-1 MUHAMMAD AHSAN SHAIKH 799 68 - 867 799 68 - 867
HOUSE NO A/116-34-197, HIRABAD,
HYDERABAD.
222 NAZEER AHMAD NAZEER AHMAD 36302-6188593-3 KABIR KHAN 610 56 - 666 610 56 - 666
HOUSE NO. 09, NEAR IQBAL COLLEGE,
SHAMSHABAD COLONY, MULTAN.
223 MUHAMMAD YOUSUF MUHAMMAD YOUSUF 42201-8450371-9 JALAL UDDIN 631 56 - 687 631 56 - 687
HOUSE NO. A-21, MADINA COLONY, 13-D,
224 MUHAMMAD ASLAM AWAIS MUHAMMAD ASLAM AWAIS 35201-1374578-5 MUHAMMAD BASHIR 629 49 - 678 629 49 - 678
255-B, SHALIMAR HOUSING SCHEME, BAGHBAN PURA,
LAHORE.
225 MOHAMMAD ASLAM MOHAMMAD ASLAM 42101-8817989-1 MOHAMMAD YAR 561 107 - 668 561 107 - 668
HOUSE NO. 86/10, ORANGABAD, CHOOTA MEADAN,
NAZIMABAD NO.3, KARACHI.
226 MUBEEN AHMED QURESHI MUBEEN AHMED QURESHI 42201-0549702-3 SHAMIM AHMED QURESHI 603 99 - 702 603 99 - 702
HOUSE # E/30, AREA-E, KORANGI # 5 3/4 (PONAY CHAY),
KARACHI.
227 FAISAL SOHAIL FAISAL SOHAIL 42101-1602839-5 MUHAMMAD ASLAM 623 118 - 741 623 118 - 741
HOUSE NO. R-301, SECTOR NO. 14/B, SHADMAN TOWN,
228 MUHAMMAD ATHAR LODHI MUHAMMAD ATHAR LODHI 31202-8606179-7 ABDUL GHAFFAR 720 62 - 782 720 62 - 782
HOUSE NO. 17-D, OFFICER COLONY,
BAHAWALPUR.
229 SYED ZULFIQAR HAIDER NAQVI SYED ZULFIQAR HAIDER NAQVI 42101-1895817-9 SYED ALI MUKHTAR NAQVI 805 131 - 936 805 131 - 936
HOUSE NO. R-633, SECTOR 11-C/1, NORTH KARACHI,
KARACHI.
230 ALTAF HUSSAIN ALTAF HUSSAIN 42401-0976141-9 GUL HASSAN 1,609 263 - 1,872 1,609 263 - 1,872
HOUSE # M-2EB 15/18 A, SINDH MAHAL STREET # 29,
BLOCK-B, AKBER ROAD, SHER SHAH, KARACHI.
231 SHAHID BASHIR SHAHID BASHIR 42301-8448099-1 SHEIKH BASHIR 1,050 162 - 1,212 1,050 162 - 1,212
HOUSE NO. 113-C, KHAYABAN-E-BAHRIA, PHASE-VII,
DEFENCE, KARACHI.
232 MUHAMMAD FAROOQ MUHAMMAD FAROOQ 42301-2012152-9 ABDUL SATAAR 601 93 - 694 601 93 - 694
FLAT NO. 2-A, 2ND FLOOR, WAHEED CENTRE,
URDU BAZAR, KARACHI.
233 FAISAL MUHAMMAD IBRAHIM FAISAL MUHAMMAD IBRAHIM 42000-0557548-7 MUHAMMAD IBRAHIM 1,189 194 - 1,383 1,189 194 - 1,383
FLAT NO. 21, BLOCK-B, 6TH FLOOR, GIZRA ARCADE,
GARDEN WEST, KARACHI.
234 TARIQ ISHTIAQ KHAN TARIQ ISHTIAQ KHAN 42201-3457198-1 ISHTIAQ RASOOL KHAN 904 155 - 1,059 904 155 - 1,059
HOUSE NO. B-52, BANGLOW TOWN,
KARACHI.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Interest/ Other
Annexure - 1
235 MOHAMMAD KHURRAM MOHAMMAD KHURRAM 35202-2835081-9 MUHAMMAD RAFI 875 663 - 1,538 875 663 - 1,538
32 H-2, JOHAR TOWN, NEAR STAR BAKERS AND SWEETS,
JOHAR TOWN, LAHORE.
236 NADEEM YASEEN SHANAWAR NADEEM YASEEN SHANAWAR 35102-5630501-7 MUHAMMAD YASEEN 744 1,376 - 2,120 744 1,376 - 2,120
HOUSE NO. 19 S 93 STREET MIAN SKENDAR
MAIN BAZAR ROAD, KOT KASUR, KASUR.
237 NASIR ALI NASIR ALI 36302-0286605-9 BAGH ALI 509 40 - 549 509 40 - 549
HOUSE # 35 T BLOCK ST # C, NEW MULTAN,
MULTAN.
238 MUHAMMAD YOUSUF MUHAMMAD YOUSUF 42501-5145261-1 GHULAM RASOOL 594 97 - 691 594 97 - 691
HOUSE A-28, GULISTAN SOCIETY,
KARACHI.
239 MUHAMMAD SALEEM MUHAMMAD SALEEM 42101-1826752-5 MUHAMMAD ASHRAF 535 86 - 621 535 86 - 621
HOUSE NO. 1384/B MOHALLAH 5 NISHTER COLONY,
GULBAHAR NAZIMABAD, KARACHI.
240 ALI HASSAN ALI HASSAN 42201-0452201-9 LAL MUHAMMAD 1,018 164 - 1,182 1,018 164 - 1,182
PLOT # 449, 1ST FLOOR, SECTOR 51-B, KORANGI # 6,
KARACHI.
241 MUHAMMAD RAMZAN MUHAMMAD RAMZAN 34501-1058929-1 NAZEER AHMED 905 80 - 985 905 80 - 985
HOUSE NO. MIIE-A/831, STREET-37, JINNAH ROAD,
BLOCK-C, SHER SHAH, KARACHI.
242 MUHAMMAD ASHRAF MUHAMMAD ASHRAF 42201-1604084-7 SALEH MUHAMMAD 1,035 170 - 1,205 1,035 170 - 1,205
A-502, PANAMA CENTRE, BLOCK 13-D,
243 AHSAN ULLAH SALEEMI AHSAN ULLAH SALEEMI 42301-0300274-1 BASHIR AHMED 509 82 - 591 509 82 - 591
HOUSE # 530, SECTOR-C, STREET # 8, REHMAN COLONY,
KARACHI.
244 MUHAMMAD TAHIR MUHAMMAD TAHIR 42201-8096499-1 IBRAHIM 653 108 - 761 653 108 - 761
FLAT NO. C-402, CRESCENT VIEW, BLOCK-13,
245 MUHAMMAD JAMAL MUHAMMAD JAMAL 42201-6545062-3 LATIF UR REHMAN 736 956 - 1,692 736 956 - 1,692
REHMAN BUILDING, FLAT NO. LSB-6, STREET NO. 4,
BLOCK-10, GULSHAN-E-IQBAL, KARACHI.
246 SHEIKH MUHAMMAD ANWER SHEIKH MUHAMMAD ANWER 37401-1503210-5 SHEIKH ABDUL MAJEED 646 658 - 1,304 646 658 - 1,304
HOUSE NO 230, AMEER BAZ,
OPOSITE MUHAMMADI MOSQUE, GUJAR KHAN.
247 MUJEEB UNNISA MUJEEB UNNISA 42401-7252719-0 MUHAMMAD SALEEM 528 654 - 1,182 528 654 - 1,182
FLAT NO B-17, BLOCK-J, TAQI CENTER ,
NORTHNAZIMABAD, KARACHI.
248 MUHAMMAD YAMEEN MUHAMMAD YAMEEN 42301-2109142-7 NASEER AHMED 976 569 - 1,545 976 569 - 1,545
FLAT NO.5, GHOSIA CENTRE, GIZRI,
KARACHI.
249 WAQAR AHMED WAQAR AHMED 42401-3734675-3 ASHRAF KHAN 768 490 - 1,258 768 490 - 1,258
HOUSE NO. KMC-537-A, SECTOR 14/E, AKBAR SHAHEED
CHOWK, ORANGI TOWN, KARACHI.
250 CHAUDHRY SAIF ULLAH CHAUDHRY SAIF ULLAH 37405-2728189-7 CHAUDHRY MUHAMMAD 696 330 - 1,026 696 330 - 1,026
HOUSE NO. 5, HAQ LANE MUHALLA NEW LALA ZAR, SIDDIQUE
ADYALA ROAD, RAWALPINDI.
251 ALI TRADERS (PROP.IMMAD ZAFAR) IMMAD ZAFAR 34101-2528289-7 MUHAMMAD ANWAR 2,098 396 - 2,494 2,098 396 - 2,494
GHALLA MANDI GHAKKAR MANDI,
GUJRANWALA.
252 FEROZ KHAN FEROZ KHAN 35202-1141339-7 JUMA KHAN 654 647 - 1,301 654 647 - 1,301
HOUSE # 104, SECTOR 131, TOWNSHIP,
LAHORE.
183
184
(Rupees '000')
Interest/ Other
Annexure - 1
253 M/S PAK MOTORS & RENT A CAR MUHAMMAD NADEEM AHMED BUTT 34603-2172177-9 MUHAMMAD SHARIF 1,080 320 - 1,400 1,080 180 - 1,260
2 ALLAMA IQBAL CHOWK, SIALKOT,
PUNJAB.
254 FUEL POWER CNG MUHAMMAD SAQIB 37405-3400269-9 JAMIL UR REHMAN 935 26 - 961 935 - - 935
ASGHAR MALL ROAD, NEAR NAZ CINEMA,
RAWALPINDI.
255 ARIF ARIF 15602-1186379-1 SHAUKAT ALI 550 210 - 760 550 210 - 760
MOHALLA, LANDAYKAS, MINGORA, TEHSIL/DISTT SWAT,
N.W.F.P.
256 AZMAT BHATTI (DECEASED) AZMAT BHATTI 422016-810220-3 BASHIR AHMED BHATTI 573 - - 573 573 - - 573
25/B, SHAD BAGH HOUSING SOCIETY, MALIR HALT,
KARACHI.
257 KHAWAJA TARIQ FAROOQ (DECEASED) KHAWAJA TARIQ FAROOQ 35202-1548702-3 KHAWAJA FAROOQ SADIQ 557 - - 557 557 - - 557
403, EME SECTOR D.H.A MULTAN ROAD,
LAHORE.
258 SYNERGY CORPORATION JAVED ASGHAR 35201-1458037-1 M ASGHER SHEIKH 2,791 4,221 - 7,012 2,791 4,221 - 7,012
SUIT # 15, 7TH FLOOR, CENTRAL PLAZA, CIVIC CENTRE, HASSAN IKRAM 35202-2534160-1 IKRAM-UL-HAQ
NEW GARDEN TOWN, LAHORE. QAZI MOEED ALI 35202-6634158-3 QAZI FARHAT ALI
259 RECTO SPORTS SHAHZAD KOUSER CHEEMA 34603-4526639-7 CH. MIAN KHAN CHEEMA 11,999 4,220 - 16,219 11,999 4,220 - 16,219
DASKA ROAD, CH. FAROOQ A. CHEEMA 34603-6623013-5 CH. MIAN KHAN CHEEMA
SIALKOT-6. IMRAN FAROOQ CHEEMA 34603-1792850-9 CH. FAROOQ A. CHEEMA
260 TAIBA MODEL JEWELLERS M. YOUNUS 35202-6559478-5 MAULA BAKHSH 1,795 7,280 - 9,075 1,795 7,280 - 9,075
SV-8-5-4/1, UMER STREET, SUNEHRI MANDI, M. SHAHZAD YOUNUS 35202-9705130-3 MUHAMMAD YOUNUS
OLD ANARKALI ROAD, LAHORE.
261 ASIF ENTERPRISES MUHAMMAD TAHIR 42101-1782295-1 MUHAMMAD HUBAIR - 588 - 588 - 588 - 588
R-453, SECTOR 14-B, SHADMAN TOWN, NORTH KARACHI,
KARACHI-75850.
262 GALAXY TEXTILE MILLS ARIF GULZAR 35201-4424476-7 GULZAR MUHAMMAD 140,178 56,010 - 196,188 - 56,010 - 56,010
7-D-1, GULBERG-III, ASAD GULZAR 35201-7622962-9 ARIF GULZAR
LAHORE. FEROZ GULZAR 35201-3511954-1 ARIF GULZAR
265 ARAIN MILLS LIMITED MUNEER AHMED 36602-0930881-7 SHABEER AHMED 7,200 27,269 - 34,469 7,200 27,269 - 34,469
266 SULEMAN SPINNING MILLS MUNEER AHMED 36602-0930881-7 SHABEER AHMED 6,234 38,367 - 44,601 6,234 38,367 - 44,601
267 YAKTA TRAVELS & TOURS SYED MEHMOOD UL HASSAN RIZVI 36302-0334318-9 SYED ABDUL HASSAN RIZVI 2,848 1,672 - 4,520 - 1,672 - 1,672
UNIT 5, 2ND FLOOR, SARDAR PLAZA, MUHAMMAD QASIM QURESHI 37405-5451824-3 BASHIR AHMED
6TH ROAD STOP, MURREE ROAD, RAWALPINDI.
Annual Report 2011

(Rupees '000')
Annual Report 2011

Annexure - 1
Interest/ Other
268 BUKHARI COMMERCIAL EXPORTERS ABDUL QADIR JANGDA 42301-5862447-7 ABDUL RAZZAQ 101,551 11,821 5,900 119,272 - 2,194 - 2,194
ATTIQUE MARKET, 3RD FLOOR, BOMBAY BAZAR,
KHARADAR, KARACHI.
269 SOUTHERN ELECTRIC POWER COMPANY LTD. ANTHONY RUSTIN NON-RESIDENT SYDNEY RUSTIN 30,867 3,153 - 34,020 - 3,153 - 3,153
NO.38, FIRST STREET, F-6/3, LYNN MARGARET ISOBEL NON-RESIDENT WILLIAM JOHN ALEXANDER
ISLAMABAD. S.M.GHALIB 35201-1597411-3 SARDAR MUHAMMAD AKRAM
CAROLE LINDA NON-RESIDENT YAHIA A. ADRIS
FLORIAN ZENNER NON-RESIDENT TIMM ZENNER
MANUEL MAKKI NON-RESIDENT ALIAN
SALMAN RAHIM NON-RESIDENT DR. S.A. RAHIM
RASHID MIRZA 42301-5026134-7 MUHAMMAD IFTIKHAR MIRZA
270 RAWAT CNG TASEER AHMED 37401-1402647-9 MUHAMMAD KHALID MARGHOOB - 1,378 - 1,378 - 1,378 - 1,378
KALAR ROAD, OPPOSITE WAPDA OFFICE, TEHSIL L RAWAT, SHEIKH MUHAMMAD YASIN 37405-0372117-5 SHEIKH QAMAR DIN
RAWALPINDI. NISAR AHMED 37405-0433772-3 MEHARBAN KHAN
271 KUNJAH TEXTILE MILLS LIMITED SHAFAY HUSSAIN 35202-4255471-1 CH. SHUJAT HUSSAIN 103,206 27,932 - 131,138 - 27,932 - 27,932
20/E-1 (C), GULGERB-III, MUHAMMAD MEHBOOB 35202-2324124-9 ABDUL HAMEED
LAHORE. HAMID NAZIR 35201-7973297-7 CHUADHRY NAZIR AHMED
272 PRIME DAIRIES LTD HASAN MAHMOOD 35202-9061529-5 LIAQAT MAHMOOD 24,819 6,664 19,829 51,312 - 6,664 19,829 26,493
38, EMPRESS ROAD, AHMED MAHMOOD 35201-2550198-3 LIAQAT MAHMOOD
LAHORE. LIAQAT MAHMOOD 35201-7907619-7 CH. SULTAN MAHMOOD
AISHA CHAUDHRY 35202-2433151-6 KARAMATULLAH CHAUDHRY
QASIM CHAUDHRY 35202-2556962-5 KARAMATULLAH CHAUDHRY
SARAH LEGHARI 35201-2295859-4 AHMED MAHMOOD
FATIMA HAMEED 35201-1366941-8 FAROOQ HAMEED
273 SECCO PAK (PVT) LTD. KAMAL ALAM 244-48-140963 AKHTAR ALAM KHAN - 13,486 - 13,486 - 13,486 - 13,486
18 KM. LAHORE SHEIKHUPURA ROAD, KHALID HAMID KHAN 277-50-106041 ABDUL HAMID KHAN
LAHORE. RAFIQUR REHMAN 271-37-049402 KHALILUR REHMAN KHAN
SIKANDAR HAMID 277-48-347640 ABDUL HAMID KHAN
SHAHID KARIM 517-49-191524 MOHAMMAD KARIN
274 SHAHPUR TEXTILE MILLS (PVT) LTD MIAN NAZIR AHMED PERACHA 274-42-430485 AZIZUDDIN PERACHA 18,965 2,337 - 21,302 7,215 2,337 - 9,552
HOUSE NO.77-A, ST.NO.16, CALVERY GROUND, QAMAR NAZIR PERACHA 517-48-043072 NAZIR AHMED PERACHA
LAHORE CANTT. FARIHA NAZIR PERACHA 274-50-430486 MIAN NAZIR AHMED PERACHA
CYMA NAZIR PERACHA 517-90-043074 MIAN NAZIR AHMED PERACHA
TAYMUR ALAM PARACHA 35201-1702969-3 MIAN NAZIR AHMED PARACHA
HASAN MAHMOOD 212-69-087723 MOHAMMAD YAMEEN
HAFIZ LAEEQ AHMED 270-67-545943 KHURSHEED AHMED
275 INVEST CAPITAL INVESTMENT BANK LIMITED NUSRAT YAR AHMED 42301-4241881-7 IFTIKHAR AHMED CHAUDHRY 48,733 10,877 - 59,610 - 10,877 - 10,877
(FORMERLY AL-ZAMIN LEASING) SAEED IQBAL CHAUDHRY 35201-1444666-5 MUHAMMAD IQBAL CHAUDHRY
C3C,12TH LANE , ITTEHAD COMMERCIAL, PHASE-II EXT., MUHAMMAD ZAHID 33102-1817745-5 MUHAMMAD SHARIF
D.H.A KARACHI" AAMER SAEED 42301-6373132-9 ANWER SAEED
REHMAN GHANI 43201-5250481-9 AMJAD HUSSAIN
FIRASAT ALI 42301-3598846-5 FARMAN ALI
BASHIR A CHOUDHRY 42301-1067986-1 KARAM ELAHI
276 ADIL CERAMICS BABAR SULTAN 34101-4247219-1 SULTAN - 3,669 - 3,669 - 3,669 - 3,669
10 KM LAHORE SIDE, GT ROAD, AZRA BABAR 34101-3479860-8 BABAR
GUJRANWALA.
277 ANZ TELECOM NAVEED NAIYAR HUSSAIN 42301-4883876-9 NAIYAR HUSSAIN - 1,329 - 1,329 - 1,329 - 1,329
HOUSE NO. 29/2, STREET NO. 29, PHASE-V, D.H.A.,
KARACHI.
278 AZIZ BROTHERS SYED IFTIKHAR ALI 36302-6231997-3 SYED ANWAR ALI BUKHARI - 934 - 934 - 934 - 934
41 D, INDUSTRIAL ESTATE,
MULTAN.
279 DAWOOD MILLS STORE SHEIKH AHMAD DAWOOD 35201-8843168-7 SHEIKH DAWOOD AHMED - 1,142 - 1,142 - 1,142 - 1,142
46 BRANDRETH ROAD,
LAHORE.
185
186
Annexure - 1

(Rupees '000')
Interest/ Other
280 DAWOOD SPINNING MILLS LIMITED MUHAMMAD IMRAN DAWOOD 35201-4903314-3 SHEIKH DAWOOD AHMAD 59,549 4,205 - 63,754 - 4,205 - 4,205
46 BRANDRETH ROAD, SHEIKH AHMAD DAWOOD 274-88-305116 SHEIKH DAWOOD AHMAD
LAHORE.
281 GRACE SHOES SHAHID RAZA 34603-7839428-5 GHULMAN RASOOL - 1,161 - 1,161 - 1,161 - 1,161
RAILWAY ROAD, CHOWK ALLAMA IQBAL,
SIALKOT.
282 ISLAMABAD PHOTO SERVICE & KODAK EXPRESS LAB MUHAMMAD ILYAS 61101-5615049-9 ADBUL AZIZ 334 41 280 655 334 41 280 655
SHOP NO. 24-B, BLOCK 12-C, JINNAH SUPER MARKET,
F-7 MARKAZ, ISLAMABAD.
283 MAHRAB PIPE INDUSTRIES MUSTANSAR HAFEEZ 35201-1681739-1 HAFEEZ ULLAH KHAN - 2,271 - 2,271 - 2,196 - 2,196
KALA KHATAI ROAD JAVEED PARK,
OPP MADRAS -TUL-BINAT, SHAHDARA, LAHORE.
284 MANZOOR & SONS SYED ETHESHAM HAIDER ZAIDI 35202-4627086-3 SYED HAMEED ASGHAR ZAIDI 518 - 873 1,391 518 - 873 1,391
252/A-II, BLOCK-5, TOWNSHIP,
LAHORE.
285 SABRI INDUSTRIES SYED AZIZ ANWAR 36302-8884357-1 SYED ANWAR ALI BUKHARI 10,000 537 - 10,537 - 537 - 537
144C FATIMA JINNAH S.I.E, NADEEM AKHTAR 36302-7868986-5 SYED ANWAR ALI BUKHARI
DISTRICT SIALKOT.
286 SAMI SONS WEAVING FACTORY ABDUL SAMI 33100-0595318-7 MUHAMMAD SHARIF - 3,928 - 3,928 - 3,928 - 3,928
P-2 NEW CIVIL LINES, GORAYA ROAD,
FAISALABAD.
287 SHAFY SPORTSWEAR NARGIS MUSTAFA 34603-1624780-0 GHULAM MUSTAFA CH 45,000 2,305 - 47,305 - 2,243 - 2,243
HOUSE NO 31/5, ZAFAR ALI ROAD, NAZIA ALI 34603-9457984-2 ZULFIQAR ALI CH
SIALKOT CANTT
288 SHAHEEN PETROLEUM SERVICE SIRAJUDDIN 41306-3875860-3 KHAN GUL 21,300 6,634 - 27,934 3,300 6,634 - 9,934
MAIN SHAH MAKKI ROAD, QACHA QILA,
HYDERABAD
289 T.P CORPORATION TARIQ HAMEED PURI 33100-2210978-7 ABDUL HAMEED PURI 12,500 2,681 - 15,181 - 2,158 - 2,158
P-15, MONGOMRY BAZAR,
FAISALABAD
290 SHAIKH INTERNATIONAL SHEIKH SOHAIL IBRAHIM 42000-5183618-7 SHEIKH MUHAMMAD IBRAHIM 1,012 346 - 1,358 497 346 - 843
MR 7/1, VIRJEE STREET, JODIA BAZAR,
KARACHI.
863,572 304,519 26,882 1,194,973 254,056 294,066 20,982 569,104
Annual Report 2011

Pattern of Shareholding as at December 31, 2011
Shareholdings
Number of Shares held Percentage
Shareholders From To
1,544 1 100 61,492 0.0006
3,449 101 500 1,209,343 0.0118
3,778 501 1,000 3,299,748 0.0320
10,308 1,001 5,000 29,672,990 0.2880
2,921 5,001 10,000 22,756,360 0.2209
3,652 10,001 50,000 86,119,155 0.8359
701 50,001 100,000 52,908,425 0.5135
420 100,001 200,000 59,471,621 0.5772
118 200,001 300,000 29,465,985 0.2860
78 300,001 400,000 27,158,623 0.2636
45 400,001 500,000 20,546,153 0.1994
18 500,001 600,000 10,035,361 0.0974
27 600,001 700,000 17,579,003 0.1706
15 700,001 800,000 11,473,895 0.1114
17 800,001 900,000 14,459,883 0.1404
11 900,001 1,000,000 10,739,480 0.1042
89 1,000,001 5,000,000 183,912,579 1.7851
14 5,000,001 10,000,000 96,835,093 0.9399
4 10,000,001 15,000,000 48,412,190 0.4699
6 15,000,001 20,000,000 98,507,971 0.9561
2 20,000,001 25,000,000 46,603,800 0.4523
2 25,000,001 30,000,000 58,321,082 0.5661
1 30,000,001 50,000,000 32,460,451 0.3151
1 50,000,001 250,000,000 208,111,883 2.0199
1 250,000,001 10,000,000,000 9,132,728,598 88.6427
27,222 10,302,851,164 100.0000

Categories of Shareholders as at December 31, 2011
Number of
Category Shareholders Shares held Percentage
Directors, Chief Executive Officer,

and their spouse and minor children 1 16,083,935 0.16
Associated Companies, Undertakings

and Related Parties 1 9,132,728,598 88.64
NIT, ICP & IDBP/ICP 5 31,615,386 0.31
Banks, Development Financial Institutions,

Non Banking Financial Institutions 35 123,754,105 1.20
Insurance Companies 17 5,682,110 0.06
Modarabas and Mutual Funds 21 6,565,225 0.06
Public Sector Companies & Corporations 5 236,840,121 2.30
Executives / Employees 22 633,913 0.01
Foreign Companies 66 61,240,852 0.58
Shareholders holding 10% or more {excluding

Bugis Investments (Mauritius) Pte Limited} – – –
General Public (including local &

foreign individuals) 26,812 572,760,829 5.56
Others 237 114,946,090 1.12
TOTAL 27,222 10,302,851,164 100.00

Details of Pattern of Shareholding
as at December 31, 2011
Number of Number of
S. No. Categories of Shareholders Shareholders Shares held Percentage
1 Associated Companies,
Undertakings and Related Parties 1 9,132,728,598 88.64
Bugis Investments (Mauritius) Pte Ltd. 1 9,132,728,598
2 NIT & ICP 5 31,615,386 0.31
National Investment Trust Limited 2 31,500,968

Investment Corporation of Pakistan 2 13,516
IDBP/ICP 1 100,902
3 Directors, CEO and their spouses and

minor children 1 16,083,935 0.16
Teo Cheng San, Roland

Syed Aamir Zahidi
Tejpal Singh Hora
Chia Yew Hock Wilson
Asif Jooma
Muhammad Abdullah Yusuf
Najmus Saquib Hameed
Khawaja Iqbal Hassan 1 16,083,935
Badar Kazmi
4 Executives / Employees 22 633,913 0.01
5 Public Sector Companies and Corporations 5 236,840,121 2.30
6 Foreign Companies 66 61,240,852 0.58
7 Banks, Development Financial 73 136,001,440 1.32

Institutions, Non-banking Financial
Institutions, Insurance Companies,
Modarabas and Mutual Funds
8 General Public (including local &

foreign individuals) 26,812 572,760,829 5.56
9 Others 237 114,946,090 1.12
Total 27,222 10,302,851,164 100.00

NIB Bank Limited
Proxy Form
I/We ________________________________S/o,D/o,W/o _______________________________

of _____________________________________________________________________________
(full address) being a member of NIB Bank Limited and holder of shares as per Registered
Folio No. ______________ and / or CDC Participant I.D. No. _______________________
and Account No. ____________ do hereby appoint ___________________________________
of ____________________________________________________________________________
(full address) or failing him/her ___________________________________________________
of ____________________________________________________________________________
(full address) as my/our proxy to attend, speak and vote for me/us and on my/our behalf
at the 9th Annual General Meeting of NIB Bank Limited scheduled to be held on Friday,
the 30th March 2012 at 10:00 A.M. at ICAP Auditorium, Institute of Chartered Accountants
of Pakistan (ICAP) Building, G-10/4, Mauve Area, Islamabad and at any adjournment
thereof.
As witness my / our hand this _____________ day of _______________ 2012.
Witnesses :
1. _____________________________
Name : Signature of Member(s)
CNIC No.: on Rs. 5/- Revenue Stamp
Address :
2. _____________________________
Name:
CNIC No.:
Address :
NOTE: A member entitled to attend a General Meeting is entitled to appoint a proxy to attend and
vote instead of him / her. No person shall act as proxy (except for a Corporation)
unless he / she is entitled to be present and vote in his / her own right.
Proxies, in order to be valid, must be complete in all respects and be received at the
Head Office of the Bank not later than 48 hours before the meeting.
NIB Bank Limited
Registered Office:
First Floor, Post Mall, F-7 Markaz, Islamabad
Head Office:
Muhammadi House, I.I. Chundrigar Road, Karachi
UAN: 111-333-111 www.nibpk.com

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Moving ahead with focus

NIB Bank Limited Annual Report 2011

Notice of Annual Notes to the

Auditors Report to the Members

Statements of Compliance and Consolidated

Auditors’ Review Report on Consolidated

Auditors’ Report to the Members Consolidated

Unconsolidated Notes to the

Unconsolidated 187 Pattern of Shareholding

Annual Report 2011 1

Board of Directors Teo Cheng San, Roland Chairman

Board Audit Committee Muhammad Abdullah Yusuf Chairman

Company Secretary Ather Ali Khan

Chief Financial Officer Yameen Kerai

Registered Office First Floor, Post Mall

Head Office Muhammadi House

Email & URL Email: info@nibpk.com

Share Registrar Office THK Associates (Pvt.) Limited

Auditors M/s. KPMG Taseer Hadi & Co.

Legal Advisor M/s. Mandviwalla & Zafar

Credit Rating Long Term: AA-

2 Annual Report 2011

Karachi Ather Ali Khan

Annual Report 2011 3

STATEMENT UNDER SECTION 160(1) (B) OF THE COMPANIES ORDINANCE, 1984

1) REMUNERATION TO NON EXECUTIVE DIRECTORS AND CHAIRMAN

4 Annual Report 2011

Annual Report 2011 5

• Proper books of accounts of the Bank have been maintained.

6 Annual Report 2011

Six years financial data for NIB unconsolidated is provided hereunder:

SIX YEARS FINANCIAL DATA

Rs mn 2011 2010 2009 2008 2007 2006

Total Meetings Total Meetings

INTERNAL CONTROL AND RISK MANAGEMENT FRAMEWORK

CORPORATE SOCIAL RESPONSIBILITY

Annual Report 2011 7

On behalf of the Board,

Teo Cheng San, Roland Badar Kazmi

8 Annual Report 2011

Annual Report 2011 9

On behalf of the Board,

Date: 22 February 2012

10 Annual Report 2011

Internal Control System

• Efficiency and effectiveness of operations

3. A clear organizational structure exists which supports clear lines of communication.

Annual Report 2011 11

Information and Communication

Risk Management Framework

a) Credit Risk Management

Credit Risk Management (CRM)

Market Risk Management (MRM)

12 Annual Report 2011

Operational Risk Management (ORM)

On behalf of the Board,

Date: 22 February 2012

Annual Report 2011 13

Date: 22 February 2012 KPMG Taseer Hadi & Co.

14 Annual Report 2011

Annual Report 2011 15

Date: 22 February 2012 KPMG Taseer Hadi & Co.

16 Annual Report 2011