LAHORE (PR): After implementing the core banking application, NBP now intends to priorities financing energy (Rs 125 billion) and agricultural sectors over the coming years. National Bank had successfully implemented core banking application in its main branch to provide ‘superb’ customer services, besides ensuring efficiency across the banking functions. After the successful launch of the main branch, the bank is planning to introduce core banking application in all its branches.

As the entire country is facing a serious crisis of energy followed by mounting circular debt, the bank is also planning to extend its financing to the energy sector. NBP “will finance energy-related project on top priority”.

“So far, some 10 energy projects had been initiated in the country, of which seven have been financed by the NBP. Of these seven, five have already commenced operations and two more are expected to become operational shortly. On the whole, as much as financing facility worth Rs 125 billion had been extended to the energy sector. Cut in key policy rate, 2012 was a difficult year for commercial banks because of persistent reduction in discount rates that significantly impacted the net interest income of all banks.

Under a declining interest rate scenario, the bank was redefining its business model and at present, while most commercial banks were investing heavily in government securities, the NBP had effectively kept its fresh investment in government securities at a minimum level and was trying to fulfill the demand of the private sector.