nib bank in Pakistan
NIB Bank started operations in October 2003 when National Development Leasing Corporation (NDLC) and Pakistan operations of IFIC Bank were amalgamated. The Bank grew rapidly and further acquisitions took place – the Pakistan operations of Credit Agricole Indosuez were acquired in April 2004, and in 2007, PICIC Commercial Bank Limited merged with the Bank. Temasek Holdings of Singapore continues to be the largest single investor in NIB Bank with a stake in excess of 88%.