Pakistan is one of the key emerging markets of South Asia with a total population of over 140 million people. Pakistan’s GDP is expected to grow at 3.6% during the year 2001-02.

The banking sector in Pakistan consists of Commercial Banks, Specialized Banking and other non-banking financial Institutions.

The key trends in the banking sector are as follows:

· Increased Merger & Acquisition activity in the banking sector with local private banks having made several domestic acquisitions.

· Large expansion of branch network and deposits by private and some foreign banks.

· Rationalisation of branches by nationalised banks

· Increased focus towards consumer finance

· Increased focus on attracting local rupee deposits

· Increased emphasis towards automation and customer service

· Reduction in the increase in non performing loans as a result of better governance of banks and greater accountability process initiated by the government

· Significant increase in inward remittance business as a result of governmental clamp down on unofficial remittance channels following September 11.

National Bank of Pakistan maintains its position as

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