Key Takeaways
- NBP shareholders approved a compensation package for CEO Imran Sarwar.
- Sarwar will receive Rs9.5 million per month as gross salary.
- He will also get Rs30 million life insurance cover during his tenure.
The shareholders of National Bank of Pakistan (NBP) have approved a compensation package for President and CEO Imran Sarwar, effective from September 9, 2026. The package includes a gross salary of Rs9.5 million per month, subject to applicable taxes.
In addition to the base salary, Sarwar will receive a variable annual performance bonus based on key performance indicators approved by shareholders and evaluated by the board. He will also be entitled to a house rent allowance of Rs1 million per month in lieu of a concessional staff home loan.
The compensation package includes several perks, such as utilities, two residential telephones, two mobile phones, and monthly bills at actual cost. Security arrangements will include four guards on 12-hour shifts at his residence, and reimbursement of Rs150,000 per month for five domestic help staff.
Sarwar will be provided with two vehicles: one vehicle up to 3,500 cc (Entitlement Vehicle) and the second vehicle from the available bank’s pool. He will have the option to purchase the Entitlement Vehicle at 10% of the cost or written-down value (WDV), whichever is higher, on expiry of the contract.
The package also includes two drivers, with an alternative of salary reimbursement at Rs45,000 per driver per month. Other benefits include 30 days annual leave and 18 days casual/sick leave per annum, with the option to accumulate up to 90 days for encashment.
Medical and dental coverage for Sarwar and his dependent family in Pakistan at actual costs, as well as a generator facility at his residence of up to Rs1.5 million amortised over the tenure, are also part of the package. Life insurance cover of Rs30 million during his tenure will be provided, with 50% of the yearly premium to be paid by the bank and the remaining 50% by Sarwar.
The CEO will also receive a gratuity of one month’s last drawn gross salary for each year of service. Entry fees for two clubs and subscription charges for three clubs will be paid by the bank. The package will remain fixed during the contract term.
In case of separation, if the employment agreement is terminated by the employer before expiry, Sarwar will be paid for the remaining unexpired term of the agreement in accordance with the applicable terms and conditions of the approved contract. In case of resignation, he will proceed on a three-months’ gardening leave as part of the notice period.
Imran Sarwar, with over 36 years of diverse banking experience, was appointed as the President and CEO of NBP for a three-year term, effective September 3, 2026.
