Key Takeaways
- NBP CEO Imran Sarwar will earn Rs. 114 million annually, including benefits.
- The package includes two vehicles, residential security, and medical cover.
- Sarwar’s term covers 2026 to 2029 and is subject to applicable taxes.
National Bank of Pakistan (NBP) has approved a compensation package for its President and CEO, Imran Sarwar, which will see him receive a gross monthly salary of Rs. 9.5 million, equivalent to an annual salary of Rs. 114 million, along with various benefits.
Under the terms of the agreement, Sarwar will be entitled to two vehicles, with one having an engine capacity of up to 3,500cc and the second selected from the bank’s existing vehicle pool. At the end of his contract, he can purchase the designated vehicle for 10 percent of its original cost or written-down value, whichever is higher.
The package also includes a monthly house rent allowance of Rs. 1 million, utility bills, two residential telephone connections, two mobile phones, and four security guards working 12-hour shifts at his residence. Additionally, NBP will reimburse Rs. 150,000 per month for five domestic staff.
Sarwar will receive two drivers or be reimbursed their salaries at Rs. 45,000 per driver per month. Other benefits include a residential generator costing up to Rs. 1.5 million, with the cost amortised over the contract period, and medical and dental coverage for himself and his dependent family members in Pakistan at actual cost.
The compensation package also provides life insurance coverage of Rs. 30 million during the contract, with Sarwar and the bank each paying 50 percent of the annual insurance premium.
In terms of leave and gratuity, Sarwar will receive 30 days of annual leave and 18 days of casual and sick leave each year. Annual leave can accumulate to 90 days and may be encashed at his last-drawn gross salary. The bank will pay gratuity equivalent to one month of his last-drawn gross salary for each year of service.
The package also covers the entry fees for two clubs and subscription charges for three clubs. Sarwar will be required to take three months of gardening leave as part of his notice period if he resigns.
Sarwar was appointed NBP president and CEO for a three-year term effective September 3, 2026, and the compensation filing states that the approved package applies from September 9, 2026, when he assumed office.
Before joining NBP, he served as Group Executive for Risk and Credit Policy and Chief Risk Officer at United Bank Limited.
