Latest news with #NBP
Business Recorder
4 days ago
- Business
- Business Recorder
NBP upgrades ATM services on Murree Road
ISLAMABAD: The National Bank of Pakistan (NBP) has upgraded its ATM services at the Passport Office Branch on Murree Road, Rawalpindi, by revamping an existing ATM and installing an additional machine to meet growing customer needs. The inauguration ceremony was held in the presence of GM NBP Islamabad Cluster Imran Gul, NBP Operations Chief Rawalpindi Syed Anjum Naseer, and Regional Head Majid Chaudhary. The event was also attended by valuable local customers, reflecting strong community engagement and appreciation for the improved facilities. On this occasion, Anjum Naseer briefed that with this upgrade, the number of NBP ATMs in the region has reached 81. Copyright Business Recorder, 2025
Business Standard
6 days ago
- Business
- Business Standard
SBI Life Insurance registers New Business Premium of Rs. 7,268 crores for the period ended on 30th June, 2025
PRNewswire Mumbai (Maharashtra) [India], July 25: SBI Life Insurance, one of the leading life insurers in the country registered a New Business Premium of Rs. 7,268 crores for the period ended on 30th June, 2025 vis-a-vis Rs. 7,033 crores for the period ended June 30, 2024. Regular premium has increased by 12% over the corresponding period ended on 30th June, 2024. Establishing a clear focus on protection, SBI Life's protection new business premium stood at Rs. 980 crores for the period ended June 30, 2025. Protection Individual new business premium stands at Rs.165 crores for the period ended June 30, 2025. Individual New Business Premium stands at Rs. 4,939 crores with 4% growth over the corresponding period ended on 30th June, 2024. SBI Life's profit after tax stands at Rs. 594 crores for the period ended June 30, 2025 with a growth of 14% over the corresponding period last year. The company's solvency ratio continues to remain robust at 1.96 as on June 30, 2025 as against the regulatory requirement of 1.50. SBI Life's AUM also continued to grow at 15% to Rs. 4,75,813 crores as on June 30, 2025 from Rs. 4,14,772 crores as on June 30, 2024, with the debt-equity mix of 60:40. 94% of the debt investments are in AAA and Sovereign instruments. The company has a diversified distribution network of 323,838 trained insurance professionals and wide presence with 1,146 offices across the country, comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, Point of sale persons (POS), insurance marketing firms, web aggregators and direct business. Performance for the period ended June 30, 2025 * Private Market leadership in IRP & Ind. NBP with market share of 22.3% & 25% respectively. * Annualized Premium Equivalent (APE) stands at Rs. 3,969 crores with growth of 9%. * Individual New Business sum assured stands at Rs. 66,631 crores with 73% growth. * Improvement in 13M & 61M persistency by 58 bps & 501 bps respectively. * Value of New Business (VoNB) stands at Rs. 1,088 crores with a growth of 12%. * VoNB Margin stands at 27.4%. * Indian Embedded Value (IEV) stands at Rs. 74,257 crores with growth of 20%. * Profit After Tax (PAT) stands at Rs. 594 crores with 14% growth * Robust Solvency ratio of 1.96 * Assets under Management stands at Rs. 4,75,813 crores with 15% growth About SBI Life Insurance SBI Life Insurance ('SBI Life' / 'The Company'), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001. Serving millions of families across India, SBI Life's diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions. Driven by 'Customer-First' approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike. SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,146 offices, 27,040 employees, a large and productive network of about 253,799 agents, 62 corporate agents and 9 bancassurance partners with more than 41,000 partner branches, 150 brokers and other insurance marketing firms. In addition to doing what's right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally. SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2024-25, the Company touched over 53,000 direct beneficiaries through various CSR interventions. Listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE'), the company has an authorized capital of ' 20.0 billion and a paid up capital of ' 10.0 billion. The AuM is ' 4,758.1 billion. For more information, please visit our and connect with us on Facebook, Twitter, YouTube, Instagram, and Linkedin. (Numbers & data mentioned above are for the period ended June 30, 2025) Logo:
Business Recorder
23-07-2025
- Business
- Business Recorder
NBP installs two ATMs on Murree Road
PESHAWAR: National Bank of Pakistan (NBP) has installed two ATM machines on Murree Road Rawalpindi to facilitate customers. NBP Operation Chief Rawalpindi, Syed Anjum Naseer and Regional Head Majid Chaudhary inaugurated the newly installed ATM machines during their visit at Passport Office Branch at Murree Road. Speaking on the occasion, NBP Operation Chief Rawalpindi, Syed Anjum Naseer said that the installation of more ATM machines was the longstanding demand of the local customers that has been materialized by the NBP management. Copyright Business Recorder, 2025
Business Recorder
21-07-2025
- Business
- Business Recorder
Jubilee Spinning & Weaving Mills says soon to receive NOC from NBP to change company name
Jubilee Spinning & Weaving Mills Limited announced on Monday that it was in the process of soon receiving No Objection Certificate (NOC) from the National Bank of Pakistan (NBP) in order to change the name of the company. The company shared the development to the Pakistan Stock Exchange today. It said that getting the NOC was the only remaining requirement for the approval of Form-26 related to change of company name. 'As soon as we receive the NOC from NBP, we will submit the same to the SECP and then apply for Certified True Copy of Memorandum of Association to the SECP.' Further progress report will be submitted to you within 15th day of every quarter ended as per requirement of the listing regulations of the Exchange, read the notice to the bourse. Jubilee Spinning & Weaving Mills Limited was incorporated in Pakistan as a public limited company on 12 December 1973 under the Companies Act, 1913 (Now the Companies Act, 2017). The principal objective of the company is to engage in the business of manufacturing and selling of yarn, buying, selling and otherwise dealing in yarn and raw cotton.
Express Tribune
19-07-2025
- Business
- Express Tribune
'BRI states must adopt diversified supply chain'
Listen to article In the current environment, the global supply chain has been continuously upgrading digitally, ie, achieving innovative and sustainable development, which is also a major responsibility that Pakistan and China should shoulder together, remarked National Bank of Pakistan (NBP) Beijing Office Chief Representative Shaikh Muhammad Shariq. Speaking at a panel discussion on supply chain services held during the 3rd China International Supply Chain Expo, the chief representative pointed out that the key link is to provide complete localised financial services and reduce conflicts between traders, which is crucial for both large leading enterprises and small startups. "The global supply chain must take a diversified path, not only for industrial powers like China, but also for all countries participating in the Belt and Road Initiative (BRI), and of course Pakistan, which is jointly developing CPEC (China-Pakistan Economic Corridor)." Shariq emphasised, "The optimised financing mechanism will allow us to have smoother capital flow and reduce our reliance on a single path, helping us to seek better financing strategies." Talking specifically about financial links between China and Pakistan, Shariq elaborated on NBP's efforts. "In 1981, we entered the Chinese market and opened a representative office in Beijing. Since then, we have been helping Chinese companies in different fields that are interested in doing business in Pakistan." "From a deeper perspective, policymakers in China and Pakistan have established very deep connections to simplify all financial-related processes, assisting us to confidently provide comprehensive services in the current complex and changing international environment, solving financial problems and of course the most important liquidity problem for enterprises. In a nutshell, a very stable supply chain ecosystem allows better cross-border cooperation between our two countries."
