NIB Bank was a Pakistani private, commercial bank based in Karachi. It was formed in 2003 as a result of merger of IFIC Bank and the National Development Leasing Corporation (NDLC), and this newly formed entity was called the NDLC-IFIC Bank (NIB).
The bank was established through the efforts of Khawaja Iqbal Hassan and Sultan Ali Allana (now Chairman, HBL). In 2004, soon after NIB's creation, Fullerton Financial Holdings, a subsidiary of Temasek Holdings, acquired a majority stake in the bank. This was one of the largest foreign direct investments in Pakistan at that time.
Fullerton Financial Holdings at that time had stakes in banks across Asia and ran highly successful SME and commercial businesses. Their models were adopted at NIB Bank and the Pakistan banking industry saw its first structured commercial and SME lending programs.
As of Dec 31, 2015 NIB Bank had a paid up capital of PKR 103 billion and total assets of PKR 243 billion. The bank had presence in 52 cities in Pakistan with over 170 branches connected online. NIB Bank had around 3,000 employees and its head office was in the city of Karachi. NIB Bank's main business units included Retail Banking, Commercial Banking, Corporate and Investment Banking and Treasury Services. The bank competed with all other major banks operating in Pakistan.[2]
NIB bank ceased its operations in Pakistan with effect from July 7, 2017 after its merger with the