NIB Bank was a Pakistani bank which was based in Karachi, Pakistan. It was formed in 2003 as a result of merger of IFIC Bank and the National Development Leasing Corporation (NDLC), and this newly formed entity was called the NDLC-IFIC Bank (NIB). The bank was established through the efforts of Khuwaja Iqbal Hassan and Sultan Ali Allana (now Chairman, HBL). In 2004, soon after NIB's creation, Fullerton Financial Holdings a subsidiary of Temasek Holdings acquired a majority stake in the bank. This was one of the largest Direct Foreign Investment in Pakistan at that time. More information...
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