lescol
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NBP
Total remuneration of the National Bank of Pakistan (NBP) president increased 51% in 2015 despite the share price of the state-owned bank plummeting 22% over the same 12-month period.According to the bank’s annual securities filing, NBP President Syed Ahmed Iqbal Ashraf received total compensation of Rs71.1 million last year, which was Rs23.9 million higher than the comparable figure for 2014. Meanwhile, the share price of NBP at the end of 2015 clocked up at Rs54.04, down 22.2% from the beginning of the year when it sold at Rs69.46. Almost one-third of Ashraf’s total remuneration in 2015 was in the form of bonus. His bonus for 2015 clocked up at Rs23.3 million, which was 9.4 times higher on a year-on-year basis. Although the share value of NBP declined by more than one-fourth over the year, the unconsolidated profit of the bank surged 27.9% to Rs19.2 billion for 2015. In percentage terms, NBP posted the highest year-on-year expansion in the net profit among the five largest commercial banks, also known as Big Five. Although Ashraf received the highest raise in the total remuneration last year, he was hardly the highest paid bank CEO in Big Five.
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