NIB Bank Limited (NIB) is a scheduled commercial bank which provides banking services for consumers, small and medium enterprises, commercial and financial
institutions, as well as corporate and investment banking services.
Highlights of the year
NIB acquired a controlling stake in PICIC in June 2007 and was running its acquired subsidiaries under joint management until 31 December 2007 when PICIC and PICIC Commercial Bank Limited were amalgamated with and into NIB. A new circular issued by State Bank of Pakistan, which removed the benefit of using Forced Sale Value of collateral against all Non-Performing Loans, has resulted in higher provisioning expenses for all banks including NIB.
| Key figures (PKR’m) | 2007 | FY ended 31 Dec
2006 |
| Revenue* | 2,950 | 1,515 |
| PATMI | (204) | 126 |
| EVA | (6,532) | - |
| Change in EVA | NA | - |
| Market Capitalisation | 51,187** | 7,395 |
| | | |
| ROE (%) | (1.5) | 2.9 |
| Gross Dividend Yield (%) | 0.0 | 0.0 |
| VA/Employment Cost | NA | NA |
| Price/Book | 1.1x | 1.7x |
| Price/Earnings | NM | 100.0x |
| 1-year | 3-year | 5-year |
| TSR (%)132.7 | 21.0 | 51.2 |
* Before provision for bad loans.
** Includes 642'm shares at PKRs 21.85 per share issued after 31 Dec 07.
