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National Bank of Pakistan

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Introduction

VISION To be the pre-eminent financial institution in Pakistan and achieve market recognition both in the quality and delivery of service as well as the range of product offering MISSION STATEMENT To be recognized in the market place by Institutionalizing a merit & performance culture, Creating a powerful & distinctive brand identity, Achieving top-tier financial performance, and Adopting & living out our core values. FINANCIALS / HISTORY OF NATIONAL BANK OF PAKISTAN National Bank of Pakistan maintains its position as Pakistan's premier bank determined to set higher standards of achievements. It is the major business partner for the Government of Pakistan with special emphasis on fostering Pakistan's economic growth through aggressive and balanced lending policies, technologically oriented products and services offered through its large network of branches locally, internationally and representative offices.1 NBP is looked forward to meet the expectations through Market-based products and solutions, by rewarding entrepreneurial efforts and creating value for stockholders. National Bank of Pakistan- Financial and Market Leader: In the domestic banking industry of Pakistan National Bank of Pakistan possesses a unique position. National Bank of Pakistan was established under the National Bank of Pakistan Ordinance 1949 in Pakistan. National Bank of Pakistan is providing every possible facility to nation's socio-economic development. It also undertakes Government Treasury operations. It is the largest contributory agent of Government and Semi-Government requirements. ...read more.

Middle

Many scientific management techniques are being used to enhance the productivity and good will of the bank in the eyes of common people. National Bank of Pakistan is also introducing corporate culture, risk management tactics, total quality management traditions, and above all concept of good governance in each and every department of National Bank of Pakistan. Comparative Analysis of Domestic Banking Industry of Pakistan (Rs. million) Bank Deposit Advances Investments ACB 51,732 30,035 26,759 BAH 34,240 23,775 18,831 Bop 23,767 6,621 8,295 BB 7,761 3,298 1,328 FB 24,554 21,935 6,842 HBL 328,182 167,523 142,877 KB 2,640 490 2,118 MCB 182,706 78,924 89,610 NBP 362,866 140,547 143,525 PCB 21,155 10,876 10,306 PB 14,640 9,016 7,534 SB 20,545 11,378 9,844 UB 37,760 28,890 11,822 UBL 154,915 74,117 69,385 Gross Assets of Different Domestic Banks of the Country (Rs. in Million) Bank 2002 2003 ACB 70,313 85,387 BAH 49,437 58,148 BOP 29,525 43,621 BB 10.595 11,726 FB 36,671 47,606 KB 4,037 8,990 MCB 235,139 272,324 NBP 432,803 471,860 PCB 27,982 40,134 PB 21,637 29,566 Total 955,907 1,139,446 Total Equity of Different Domestic Banks (Rs. Million) Bank 2003 BB 1,113 FB 4,120 KB 593 MCB 6,314 NBP 14,279 PCB 1,323 PB 1,380 It is great opportunity for NBP to monopolize the huge potential market of common consumers in the country and to increase the profitability of the bank. ...read more.

Conclusion

Present Value of Cash Flows By using WACC (15.1%) to discount all the cash flows to the most recent times, we got the total value of the company: Value of enterprise = Rs. 165,746,855 (000s) Estimated Price Per Share By subtracting the outstanding debt from the value of firm and then dividing it with the number of shares outstanding we calculated the price per share. ( all values are in 000s) Enterprise value = 165,746,855 Less: Outstanding debt = 33,731,297 Equals: Value of equity = 132,015,558 Divide: No. of shares = 590,893 Equals: Equity value/share 223 Cross Check From our analysis: Share value = 223 From market: Share value = 220.05 (on 5th June 2006) Sensitivity Analysis Difference in share price = 223-220.05 = 2.95 Since there is a difference in share price so according to the sensitivity analysis: Sensitivity analysis Discount rate (%) Share price(Rs.) 14.0 226.12 15.1 223.0 16.0 221.24 16.5 220.05 1 www.nbp.com.pk 2 Source: (Japan Credit Rating Agency Credit Rating, 2003) 3 http://www.bluechipmag.com/pi/1004/pf02.html 4 All facts and figures taken from www.mediamonitors.net/biopakbymuhkhan.html 5 In-depth Report Pakistan Pre Budget 29 May 2006 Pakistan Research Team, research@kasb.com 6 Information provided by Mr. Bilal Sethi, Senior Associate, Investment Banking Group North, KASB securities. 7 Flying High - Ali Raza by Mashaal Gauhar http://www.bluechipmag.com/pi/1004/pf02.html ?? ?? ?? ?? 1 ...read more.

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