KARACHI: Syed Ali Raza has come back as the Chairman of the National Bank of Pakistan. The employees have remarkably welcomed his return and gave him a cheerful gesture ever seen in the history of National Bank of Pakistan.
He is the son of Syed Hashim Raza, an ICS [ Indian Civil Services] officer of pre-partition India, who opted to Pakistan and joined the civil service. Syed Hashim Raza held top bureaucratic positions in the Government of Pakistan and was known for his love of English literature and language besides poetry and the arts.
Until his demise, he was active on the social scene. Syed Hashim Raza was a symbol of class, elegance and knowledge in Pakistan through the ages.
His book (in English) Hamari Manzil (Our Destination) is considered to be a hallmark in narration of Indo-Pakistan history. As his son, Syed Ali Raza inherited the limelight right from the young age along with his siblings: however, Syed Ali Raza rose to a level that few corporate professionals in Pakistan have ever witnessed.
Syed Ali Raza was the longest serving President of the National Bank of Pakistan, a highly politicised and sensitive institution. He succeeded in bringing reforms, good governance and profitability to the bank to the extent ever possible. Like most of public sector professionals in third world countries.
Syed Ali Razas notable contributions at National Bank were:
* Creating a professional senior executive team.
* Implementing the basis for Balanced Business Score Card at the top management level.
* Bringing profitability and focus on treasury and corporate banking.
* Making the branches and retail banking leaner, efficient and more effective.
He did his Bachelor of Science in Economics from the London School of Economics, M.Sc. in Administrative Sciences from Cass Business School and holds a graduate degree from IBA Karachi, Pakistan.
Prior to joining the National Bank of Pakistan, Syed Ali Raza worked for Bank of America for 26 years. His last position at Bank of America was Senior Vice President and Regional Head of Bank of America Operations for the Middle East, North Africa and Pakistan region. Syed Ali Raza is a cricket enthusiast.
Recently, The National Bank of Pakistan management and the Board of Directors lauded the growth-oriented performance of former bank President Syed Ali Raza during his tenure, at its 62nd annual general meeting.
Syed Ali Raza was removed in January 2011 after the Supreme Court termed his appointment as President of the bank for the fifth consecutive term as unconstitutional.
Mr. Qamar Hussain Acting President of the National Bank of Pakistan on behalf of the banks management and the Board of Directors appreciated the efforts and contribution made by Syed Ali Raza during his tenure of 10 years as President of the bank.
* The shareholders approved dividend payout of 75 per cent of Rs. 7.50 cash dividend and 25 per cent bonus shares at the AGM, which was earlier recommended in the Board of Directors meeting.
* The banks financial controller highlighted the key successes that the bank has achieved during the year, despite serious challenges that the Pakistans economy had to face due to the devastating floods, growing inflationary pressure and widening of fiscal deficit.
* The shareholders have been informed that the National Bank of Pakistan stood as the first Pakistani bank to surpass Rs One trillion benchmark with an impressive increase in deposits of Rs. 105 billion, or 14 percent.
* Advances remained at the same level as 2009 and this is in line with the industry trend. The banks capital and reserves increased from Rs.119 billion to Rs. 128 billion, the highest among all Pakistani banks.
* The bank posted a pre-tax profit of Rs. 24.4 billion, which is 15 pre cent higher from Rs. 21.3 billion in 2009. The increase is owing to higher core revenues and lower provision charges. Net interest income increased by 15 per cent from last year, while fee income was up by eight percent on account of higher trade finance and general banking income.
* The after-tax profit remained at the last years level of Rs. 17.6 billion due to prior years tax reversal of Rs. 4.1 billion in 2009. The earning per share for the year stood at Rs. 13.05, which is at the same level as of 2009, it was informed.
It seems very much desirable that under the new phenomenon, as Syed Ali Raza being the Chairman of the National Bank of Pakistan, this largest financial institution of the country, shall be scaling the ever aspiring heights and material successes.