National Bank of Pakistan (NBP) has closed its branches,
subsidiaries and representative offices in six different countries.
According to Annual Report 2022, the closed branches are in
South and Central Asia as well as North America.
The bank has shut down branch operations in the following
countries:
1. Bangladesh (Sylhet)
2. Afghanistan
(Jalalabad)
3. Uzbekistan (Tashkent)
4. Turkmenistan
(Ashgabat)
5. Canada (Toronto)
6. Tajikistan (Dushanbe)
In addition, the
public sector bank of Pakistan is working to complete the regulatory
requirements to shut down four additional branches. The branches to be closed
down include:
1. Kazakhstan (Almaty)
2. Kyrgyzstan (Bishkek)
3. Azerbaijan (Baku)
4. France (Paris)
The closure of these branches will reduce the foreign presence of the bank and will stop its liabilities and burden going forward.
Besides the National
Bank of Pakistan, major banks including Habib Bank Limited, United Bank
Limited, and MCB Bank had also shut down their foreign branches mainly to
contain the losses.