Annual Financial Report

We make memorable moments special for you
A N N U A L R E P O R T 2 0 0 9
CONTENTS
Vision 2
Mission 3
Corporate Values 4
Our Presence in Asia 5
Our Products and Services 6
Making moments special in 2009 8
Our Local Network 10
Corporate Information 11
Director's Report 12
Shariah Advisor's Report 18
Six Years Financial Summary 19
Statement of Compliance with the Code

of Corporate Governance 20
Auditor's Review Report on Compliance

with the Code of Corporate Governance 21
Notice of Annual General Meeting 22
Auditors' Report to the Members 23
Balance Sheet 26
Profit and Loss Account 27
Cash Flow Statement 28
Statement of Comprehensive Income 29
Statement of Changes in Equity 30
Notes to the Financial Statements 31
Pattern of Shareholding 90
Branch Network 92
Form of Proxy 97
RBS Annual Report 2009 01

VISION
Be the leading bank delivering
world class services to our
clients.
02 RBS Annual Report 2009

MISSION
Create value for our
stakeholders by delivering
global standards for banking
in Pakistan.

CORPORATE
VALUES
Customer focused - We
respect and depend on each
other for success by working
as collaborative teams.
Team oriented - We are

unrelenting in our focus on
customer relationships and
our customers' success.
Performance driven - Results

matter. We have a burning
desire to succeed. To “Make
it Happen”.
Entrepreneurial - We thrive
on being innovative in our
approach to business.

OUR
PRESENCE
The Royal Bank of Scotland
Group currently operates in more
than 50 countries around the
world. For further information,
please visit www.rbs.com
Countries in Asia where RBS branches

are located as at March 2010
Countries and territories where RBS has locations in Asia Pacific

Australia Korea (South)
China Malaysia
Hong Kong Pakistan**
India Singapore
Indonesia Taiwan
Japan Thailand
**As a result of our Group wide strategic review (announced on February 25, 2009), we are seeking to reduce
our global footprint by exploring new ownership opportunities for several countries, including Pakistan.

Corporate Banking
Our Corporate Bank offers a wide range of both
offshore and onshore products including
working capital financing and term loans, project
finance (including ECA backed facilities), cash
management and trade services. We deliver
cutting edge products and services to our
clients by offering tailor-made solutions, a strong
local and international network supported by our
highly skilled team of dedicated relationship
bankers.
Commercial Banking
With the Commercial Banking Group offerings
catering to the needs of Large and Medium
market enterprises along with Small and
Medium entrepreneurs, we commit to building
long term relationships so that our clients have
the support they need and a business partner to
OUR rely on. Keeping in view the potential of our

agriculture sector, we offer a complete range of
financial solutions to the agricultural community
which includes ever green scheme, tractor
financing, farm mechanization etc.
PRODUCTS
AND Royal Preferred Banking privileges
Our Royal Preferred Banking represents a new
standard of relationship banking designed
exclusively for our most esteemed customers.
From warm welcomes, luxurious lounges to
SERVICES dedicated Relationship Managers, our
enhanced level of service is a cut above the
rest.
Wealth Management products

At RBS, we present Wealth Management
solutions catering to our customers’ specific
financial and protection needs. With a diverse
range of deposit products and insurance
plans, we give them the freedom to bank on
their own terms along with the peace of mind
of a secure future.

Loan offerings
Our Loan products are specially designed to
exceed our customers’ business and lifestyle
requirements. From a host of loan facilities to
choose from, RBS is equipped to provide all
the financial assistance to its customers at
their time of need.
Innovative Banking services

Our relationship privileges are the focal point
of our efforts from where a world of
convenience begins for our customers. With
an online network spanning 24 cities and
facilities such as Customer Interaction Centre,
ATM network and Mobile Banking, we empower
our customers to conduct their banking
transactions at their leisure round-the-clock.
Credit Cards
Our family of Credit Cards represent a myriad
of features designed to match our card
holders’ lifestyles while
e being dependable and
accessible. From to co-branded Credit
Cards, we offer customized benefits ranging
from great discounts to instant rewards. The
RBS Platinum Card presents the very best of
style and elevates its valued members to a
higher level of convenience with a selection of
the finest privileges to enjoy.
Islamic Banking
We believe in providing our customers with
financial solutions that are in harmony with
their religious beliefs. With Islamic Banking,
we offer a diversified range of Shariah
Compliant products and services for
depository, financing, and commercial
banking needs and requirements.

MAKING MOMENTS SPECIAL IN 2009
RBS Platinum Card launch RBS’s collaboration with the nation’s favorite game
The launch of the RBS Platinum Card introduced an In a nation driven by one sport, cricket, RBS has
eclectic array of the finest privileges complimenting our revolutionized domestic cricket and taken it to a
esteemed customers’ superior preferences and completely different level in the past years. Steadfast
lifestyle. It is a passport to a unique experience that and committed in delivering only the best, the RBS
provides a personalized RBS Priority Pass every time our Twenty 20 Tournament 2008-09 ignited the passion of a
card members wish to travel or tee-off at the lush green cricket crazy nation and brought them together to
landscapes through the exclusive Platinum Greens witness legends.
Program. Our Global Platinum Collection provides
access to luxurious offers across the globe. Bancassurance solutions
Keeping with the tradition of continuously improving our
Business First launch product portfolio, RBS launched Wallet Guard and
2009 saw the launch of Business First, a unique deposit Business Cover giving customers round-the-clock
product offering catering to both business and personal protection of their valuables and business. This reaffirms
needs of our customers. Business First empowers them our ongoing commitment to offer our clientele security
with the transactional solutions and support they need and peace of mind.
to drive their business and lifestyle forward. Customers
also have access to a dedicated Relationship Manager
to guide them through the products and services and
help them attain their goals and aspirations.

Credit Card privileges 100% Cash back campaigns
We believe in rewarding our valued credit card members RBS believes in rewarding its loyal customers with
through loyalty programs and privileges throughout the year. promotions and loyalty programs that keep giving them their
In 2009, RBS Credit Cards opened doors to a world of money’s worth. Throughout 2009, a number of 100% Cash
benefits offering cardholders home and lifestyle products on back campaigns gave credit cardholders and BTF customers
exclusive 0% Installment Plans along with chances to win the unique opportunity to win back their spend through lucky
valuable prizes on special promotional activities. draws. So the more they spent, the more we gave back!
In the holy month of Ramadan, credit card members got SMS Alerts
more reasons to celebrate. A number of special promotions RBS introduced SMS Alerts, allowing customers to receive
and unique offers were introduced such as Double Reward real-time SMS alerts on every transaction conducted on their
Points, entitling customers to twice the privileges on their RBS Credit Cards, Debit Card or ATMs both domestically
credit card spend and fantastic discounts at some of the and internationally. This service further strengthened RBS’s
leading stores and restaurants of the country. philosophy of providing our customers the ability to stay on
top of their finances with confidence wherever they are.

OUR LOCAL
NETWORK
With a comprehensive network
spanning 24 cities, you can
rest assured that RBS has the
answer to all your needs no
matter where you are - with our
continuous philosophy of
providing solutions you
deserve and the
commitment to “Make it
Happen!”
Bhalwal Islamabad Peshawar

Bahawalpur Jhelum Quetta
Dera Ghazi Khan Karachi Rawalpindi
Faisalabad Kharian Sukkur
Gujranwala Lahore Sialkot
Gujar Khan Mardan Sargodha
Gujrat Multan Turbat
Hyderabad Mirpur (Azad Kashmir) Vehari

CORPORATE INFORMATION
Chairman
Mr. Muhammad Aurangzeb
Chief Executive Officer

Mr. Shehzad Naqvi
Directors
Mr. Robert Ralph Davis
Mr. James Alexander Brown
Lt. Gen (R) Muhammad Maqbool
Mr. Shamim Ahmad Khan
Mr. Shahid Hafiz Kardar
Audit Committee
Mr. Shamim Ahmad Khan (Chairman)
Lt. Gen. (R) Muhammad Maqbool (Member)
Mr. Shahid Hafiz Kardar (Member)
Mr. James Alexander Brown (Member)
Risk Management Committee

Mr. Shehzad Naqvi (Chairman)
Mr. James Alexander Brown (Member)
Mr. Shamim Ahmad Khan (Member)
Mr. Shahid Hafiz Kardar (Member)
Lt. Gen. (R) Muhammad Maqbool (Member)
Chief Financial Officer

Mirza Zafar Baig
Company Secretary
Mian Ejaz Ahmad
Auditors
Messrs M. Yousuf Adil Saleem & Co.
Chartered Accountants
Cavish Court, A-35, Block 7& 8, KCHSU
Sharah-e-Faisal, Karachi, Pakistan.
Legal Advisor
Messrs Hassan & Hassan (Advocates)
7-D, Kashmir/Edgerton Road,
Lahore, Pakistan.
Registrar
Messrs Hameed Majeed Associates (Pvt) Limited
H.M. House, 7-Bank Square,
The Mall,Lahore, Pakistan.
Principal Office
16, Abdullah Haroon Road
Karachi, Pakistan.
Registered / Head Office

77-Y, Phase-III, Commercial Area,
Defence Housing Authority,
Lahore, Pakistan.

DIRECTORS’ REPORT
Dear Members, part of a global strategy formally announced its intention to

explore opportunities for the sale of its business in Pakistan.
On behalf of the Board of Directors of The Royal Bank of In view of the potential sale, restricted asset acquisition,
Scotland Limited, I am pleased to present the 18th Annual maintaining liquidity in the asset profile, risk mitigation in
Report of your Bank together with the audited financial the portfolio, and consolidation of operations were the key
statements and the auditor’s report for the year ended focus areas for the Bank. The market view on the change in
December 31, 2009. ownership for the franchise has resultantly had a significant
impact on the Bank’s performance. This year therefore as
Economic Environment 2009 required by the business environment reflects the impact
of the impending change in ownership and the specific
The acute phase of the financial crisis has been weathered steps taken that were inherently necessary to ensure an
and a global economic recovery is under way. Following orderly transition.
the deepest global downturn in recent history, economic
recovery is returning slowly, however within a background In the year under review, owing to the transition phase the
of uncertainty. In most advanced economies, the recovery is deposit base of the Bank declined by Rs 15.46 billion over
expected to remain sluggish, whereas in many emerging and the level in December 08, comprising a reduction in both
developing economies, activity is expected to be relatively commercial and retail deposits. The advances portfolio
buoyant, driven largely by domestic demand. under a directed strategy was reduced to maintain liquidity,
decreased over the year by Rs 17.5 billion. The reduction
Monetary tightening and fiscal consolidation under the IMF in the size of the balance sheet of the Bank was in line with
stabilization program and the sharp decline in international the focus towards conservative business levels The major
commodity prices have had a positive impact on the macro reduction in exposures was in the Chemical, Food and
indicators, reflected in the narrowing of the current account Allied sectors and advances to individual borrowers. The
deficit and declining inflation from the high levels of last consumer sector due to credit quality issues in the market
year. Economic growth has also started to pick up modestly. also triggered a run off in product volumes. The liquidity
These developments have also facilitated an easement in in the balance sheet was diverted towards the holding in
the monetary policy with the discount rate being lowered government securities, resulting in an increase in investments
to 12.5% at the end of 2009 from 15% at the beginning of of Rs 8.3 billion over the year. The interbank borrowings and
the year. ERF increased in aggregate by Rs 3.1 billion, providing short
term funding through the money market.
On the external front the risk perception on Pakistan has
also reduced, as indicated by a significant reduction in the During the year ended December 31, 2009, adequate
country’s Eurobond yield and improvement in country ratings provisioning against the advances portfolio has been
from international rating agencies. created in accordance with the guidelines of State Bank of
Pakistan. The provisioning and write off expense against non
However security risks, concerns about political stability, performing loans for the year amounted to Rs 3.94 billion
the continuing strain on budgetary resources and poor which is higher than the amount of Rs 3.53 billion charged
availability of the required supply of energy would weigh on last year. There was an increase in credit losses on consumer
domestic and foreign investment and keep economic growth financing in line with the cyclical industry situation.
subdued in 2010. Resultantly the business environment
would remain challenging. External assistance will be During the year 2009, revenue decreased by Rs 1.608
required to meet the fiscal and current account gaps and billion over the last year mainly on account of the impact
maintain investor confidence in the country’s debt-servicing from contraction in business volumes across the Bank.
ability. The decrease in interest margins was Rs 644million in the
year and is reflective of the reduction in consumer and
Performance Review commercial loan portfolios. The increase in the holding of
government securities resulted to neutralize the reduction in
The expansion and growth phase of the Bank commenced interest earnings upon the decrease in the advances base.
in the year 2007, with a local acquisition followed by a The interest expense for the year increased under the impact
legal merger and functional integration. The year 2008 of the more competitive interest rate environment this year.
was dedicated to staff and system deployment to create Non Mark up interest income reduced by Rs 967m over 2008,
a wider scale for the business across Retail, Commercial mainly due to a reduction in fee and commission income
and SME segments. The phased expansion as planned streams. Derivative income contributed a large component
was curtailed in 2009 as a result of the shift in the strategy to the non –mark up based income of the Bank in 2009,
of RBS towards certain businesses including the Pakistan however gains were at a lower level than last year.
operations. In the first quarter of 2009 the RBS Group as

The administrative cost base of the Bank has reduced by Rs All RBS policies and processes were adapted to meet local
700m which is a decrease of 11%. This being substantial requirements and comply with the legal and regulatory
in view of inflationary impacts on the overhead cost across requirements as well. The RBS culture has been fully
the branch network. This has been achieved through stiff ingrained amongst staff and conscious efforts are made to
cost control measures across both front line and support maintain RBS values.
functions and in line with the staff reduction in business
segments. Statement of Internal Control
Information Technology The Board of Directors acknowledge the importance and

the responsibility for ensuring that an adequate and effective
Information Technology continued to play a critical role in the internal control system covering all aspects of our banking
business of the Bank with a number of initiatives including and financial operations is in place and applied stringently
streamlining of processes and enhancements to various across all segments of the Bank.
applications.
The management continually assesses that the internal
The most critical project undertaken was with respect to the controls encompassing material matters, is sound in design
centralization of operational processes, primarily in Lahore and is effectively implemented and monitored.
and Karachi. Another important project was the deployment
of Aspect, a predictive dialer for the collections staff. This also The development of an Internal Control System is an
required enhancements to a number of associated systems ongoing process which includes identification, evaluation
to which this application interfaces. Further the introduction and management of significant risks faced by the Bank.
of SMS alerts for branch banking and credit card customers The internal control system of the Bank has been designed
was implemented. Enhancements were made to applications to manage and mitigate risks and provides reasonable
in use by Trade Finance, Installments based loans module assurance against material misstatement or loss or any
and a number of other associated applications. In addition inherent weaknesses that may exist in any system of internal
a new application for the IT Helpdesk was introduced for control of an enterprise.
better incident management across the organization.
All policies and procedures are regularly reviewed to achieve
To streamline the products offered to the customers, the compliance with State Bank of Pakistan Guidelines on
entire ATMs units of the Bank across the country were Internal Controls and further strengthened by addressing
re branded and a consistent and standard menu was the IRAF questionnaire on Internal Controls specifically, while
implemented. The call center was upgraded to handle remaining current with the industry best
additional call volumes and products. practices.
In order to strengthen and automate the expense processing The Bank has an independent internal audit department.
system various improvements and additional controls have The head of internal audit reports to the Chairman of
been introduced in order to apply system checks and the Audit Committee. The internal audit department is
generate detailed expense and exception reports. responsible for conducting an independent assessment
of the adequacy and effectiveness of internal controls
A project to further improve the network bandwidth across and making recommendations concerning the processes,
the country and with the regional offices was completed this activities and departments to the Management.
year. This included upgrading of the bandwidth at various
locations for the existing links as well as migration of the links The members of the Audit Committee comprises mainly non-
onto the fiber based technology at key branches. In addition executive directors of the Bank. The Committee convenes
during the last year, country–wide Ex-Prime Bank network every quarter to receive feedback from the internal audit
equipments have also been upgraded successfully. department on their significant findings.
Human Resource Development Considering that the development of the internal control
system is an ongoing process, the bank has devised a well-
Human Resources play an important role in the growth defined and comprehensive Internal Control Programme
agenda of the bank. We at the RBS believe in attracting along the lines of the phased roadmap, as suggested by
talent and retaining the best by providing a learning culture SBP. In accordance with this Programme, the bank is in the
whereby staff have opportunities for development and advanced stages of completing detailed documentation
focus on the customer need. During 2009, HR was focused of the existing processes and controls, together with a
on managing uncertainty and apprehensions of staff and comprehensive gap analysis on the control design. Going
driving the people engagement across all businesses. forward, the bank plans to develop detailed remediation

plans on the areas for improvement where required and Prime Bank acquisition which have already been provided
to ensure implementation of planned initiatives to further for. Currency positions were also managed conservatively,
improve controls and processes in a timely manner. In while not impacting the bank’s ability to handle client flows.
addition, comprehensive management testing plans and Client take on standards and suitability criteria were carefully
framework are also planned to be developed for ensuring upheld. Risk oversight was strictly enforced, and monitoring
on-going operating effectiveness of key controls. stiffened.
Credit Rating Operational Risk Management
The Pakistan Credit Rating Agency (PACRA), has given The Country ORM Unit reports into the CRO and represents
your bank a long term rating of ‘AA’ and a short term rating a key independent oversight component of the Enterprise-
at ‘A1+’. These ratings represent very high credit quality, wide Risk Management framework of the bank. ORM serves
a low expectation of credit risk and highest capacity for as the second line of defense in the Bank’s risk governance
timely payment of financial commitments. These ratings are structure. Guided by the Group / Regional ORM Policies and
pertinent to the senior unsecured creditors (depositors) of Procedures, these are endorsed by the Risk Management
the Bank. Committee (RMC) of the (local) Board. . The efficacy
of this Framework is optimized by a state of the art and
Risk Management Framework contemporary Operational Risk system, initiated by FORTE
(Firm-wide Operational Risk Technology Environment) in
RBS has a well defined Risk Management Framework 2008 and further upgraded in 2009 to ORBIT which is the
which complies with all local and global standards and is future OR system for RBS Group. The tool enables effective
fine-tuned from time to time to account for the challenges capturing and tracking of the; i) Corporate Loss Database
the bank faces in its working environment. The year 2009 (CLD); ii) Change Risk Assessment (CRA); and iii) Issue
witnessed continued credit stress in the banking sector, in Management and Tracking (IMAT).
particular within the Retail, Commercial and SME segments.
While there are great challenges, there will continue to be During 2009, ORM initiatives included:
select opportunities for growth which the Bank is confident • Facilitation of timely OR event and issue
to pursue and capitalize on. identification, escalation and ongoing tracking.
• Facilitating reduction of Ops. Losses,
Credit Risk through continual Control Gap assessment
and remediation.
In line with the operating environment, aggressive portfolio • Deliver best practice ORM environment and
management actions were taken in 2009 through the Heat facilitate Capital Management.
Map, Sector Caps and Watch List exercises. A stringent • High level oversight and independent review of
Watch-listing process is being maintained to closely monitor control testing and gap analysis, and validation
and identify any potential weaknesses from developing in the of the quarterly Self Certification Process.
portfolio. A Credit Risk Management Committee has been • Launch of the Cross Functional Risk and
formed with representation of senior management to further Control Committee (CRandCC).
enhance the risk governance framework of the bank. ORM’s role in implementation of the 2010 Risk Initiatives /
Strategies is already underway as part of the governance
Risk and Facility ratings have been assigned to the Corporate structure, as it assesses Risk / Control issues across the
and Commercial Portfolios in line with global and regulatory Bank to ensure that all stake holders have a common view
standards. In 2010, the strategy would be to continue to keep of Key Risk.
a strict control and to further improve the overall portfolio
quality through reduction / exit of the high risk clients. Global Restructuring Group (GRG)
Market Risk During 2009, the Bank continued with its strategy to recover
non-performing loans through specific and vigorous efforts
During 2009, the bank managed its trading por tfolio in order to cope up with the prevalent economic scenario.
professionally and with restraint. The key focus during the This included restructuring of loans in order to facilitate the
year was on maintaining a high level of excess liquidity in recovery stream. We intend to continue to pursue defaulting
view of the sale of the bank. Basis Risk exposures were borrowers for settlements within our framework and will
increased to provide hedges to clients. The bank benefited continue to file recovery suits wherever amicable settlements
from reduction in interest rates and subsequently these are not possible.
positions were reduced. Exposure to equities is minimal
and represents certain legacy positions inherited from the

Retail /Consumer Risk The efficiency achieved in the loss management goal was
further amplified by simultaneous reduction in head count
In 2009, the RBS Retail Portfolio depleted at a high rate and overall credit cost. In addition, portfolio management
owing to restricted new acquisitions as well as the complete tools such as Fair Isaac’s TRIAD was effectively utilized in
closure of new acquisitions from two key products, i.e., key decision areas, recording lines project was successfully
Personal Installment Loans and Auto Loans. Additionally, implemented with the plan to launch Predictive Dialer to
pressure mounted on the existing portfolio due to restricted further enhance efficiency and Behavioral Scorecard was
macroeconomic growth resulting in inflationary pressures built to take more informed portfolio decisions as well as
and stagnant incomes eroding the ability of customers to ensure compliance to regulatory standards.
pay off their credit obligations.
Corporate Governance
Despite excruciating economic conditions pounding pressure
on consumer borrowers, Retail provisions were contained The Board of Directors of your Bank is responsible to the
as a result of increased focus and a series of actions being shareholders for managing the business of the Bank in
launched related to; i) Portfolio Management; ii) Collection compliance with regulatory requirements. It recognizes the
and Recovery; and iii) System and Infrastructure. These responsibility for sound internal controls and is committed
measures have resulted in a significant strengthening of the to upholding the highest standard of Code of Corporate
overall risk framework. Governance issued by the Securities and Exchange
Commission of Pakistan (SECP) are made effective from July
RBS total consumer losses for the year 2009 were lower 1, 2002. The Board is pleased to state that the provisions of
than the forecast for the year, however, slightly higher than the Code of Corporate Governance have been duly complied
losses booked in the year 2008. Although portfolio depleted with and a declaration in this regard has also been annexed
heavily, delinquencies of the unsecured products at the end to the Directors’ Review Report.
of 2009 were managed to remain at the same levels as they
were at the end of 2008. Secured delinquencies increased
as a result of external factors.
(i) Directors
The Board met four (4) times during the year under review. The attendance at the directors’ meetings during 2009 was
as under:
Name of the Director Designation Meetings Attended

Mr. Muhammad Aurangzeb Chairman/Director 4
Mr. Shehzad Naqvi CEO/Director 4
Mr. Robert Ralph Davis Director 4
Mr. James Alexander Brown Director 4
Lt. Gen (R) Muhammad Maqbool Director 4
Mr. Shamim Ahmad Khan Director 4
Mr. Shahid Hafiz Kardar Director 4

(ii) Audit Committee Staff Benefit Schemes
The Bank operates an approved Contributory Provident
The Audit Committee of the Board consists of four directors Fund Scheme for its permanent staff. The value of the fund,
with specific terms of reference. Mr. Shamim Ahmad Khan based on its audited accounts as of December 31, 2008,
is the Chairman of the audit committee while the other stands at Rs 808 million. Furthermore the Bank also operates
members of the committee are Mr. James Alexander Brown, a Funded Gratuity Scheme for all its permanent employees,
Lt. Gen. (R) Muhammad Maqbool and Mr. Shahid Hafiz the contribution for which is made in accordance with the
Kardar. The committee met four (4) times during the year. actuarial recommendations.
(iii) Directors’ Declaration Auditors
The Directors confirm compliance with the Corporate and The External Auditors, M/s, Yousuf Adil Saleem and Co.
Financial Reporting Framework of the Code of Corporate Chartered Accountants, retire and being eligible offer
Governance for the following: themselves for re-appointment. The Audit Committee and
the Board has also recommended their re-appointment
• The financial statements, prepared by the as External Auditors of the Company for the financial year
management of The Royal Bank of Scotland 2010.
Limited, present fairly its state of affairs, the
results of its operations, cash flows and the Statement of Compliance with the Best Practice on
changes in equity. Transfer Pricing
• Proper books of accounts of the Bank have
been maintained. The Bank has fully complied with the best practices on
• Appropriate accounting policies, except Transfer Pricing as contained in the Listing Regulation No.
for changes disclosed in the financial 38 of the Karachi Stock Exchange.
statements, have been consistently applied
in preparation of financial statements Pattern of Shareholding
and accounting estimates are based on
reasonable and prudent judgment. The pattern of shareholding as at December 31, 2009 is
• International Accounting Standards as annexed separately with this report.
applicable in Pakistan have been followed in
letter and spirit for the preparation of these Appropriations- 2009
financial statements.
• The system of Internal Control is sound in Appropriations for the current year are reflected as
design and has been effectively implemented follows:
and continuously monitored by internal audit Rs in ‘000
and other such procedures as given in the
Statement of Internal Control. Loss before tax (1,898,273)
• The Board is satisfied with the Bank’s ability Taxation 560,219
to continue as a going concern. Loss after tax (1,338,054)
• There has been no material departure from the Transfer of surplus on revaluation
best practices of Corporate Governance as – fixed assets 3,652
detailed in the listing regulations. Right issue expenses (5,051)
• Details of significant changes in the Bank’s Un-appropriated profit brought forward (2,508,205)
operations during the year ended December 31,
2009 are stated in the Director’s Report. Accumulated Loss (3,847,658)
• There are no statutory payments on account Appropriations:
of taxes, duties, levies and charges that
are outstanding as on December 31, 2009 Transfer to:
except for those disclosed in the Statutory Reserves NIL
financial statements. Reserve for Bonus Issue NIL
• Key operating and financial data for the six years Accumulated Loss carried forward (3,847,658)
in summarized form is annexed herewith.
Loss per share (0.80)

Future outlook
The corporate status of the entity continues to be in a

transition phase since the RBS Group is currently exploring
opportunities for the sale of your bank’s operations in
Pakistan. The business would remain focused on maintaining
market presence across all segments. An important area of
focus for the Bank under this phase includes maintaining
the strong human resource and systems infrastructure
developed under global policies and consistent with the
standards of the Bank. The service levels and delivery by
front end and support functions would remain targeted
towards customer requirements and quality. This combined
with effectiveness of recoveries against non performing loans
are viewed as critical to the success of the organization and
profitability for 2010. The commitment towards the customers
of the Bank remains a core component of franchise value.
Future opportunities for the Bank would arise as the strategic
change in ownership and direction crystallizes the potential
viewed by interested investors. The developments in the sale
process for the Bank are envisaged in the near future.
Acknowledgments
The Board expresses its gratitude to the State Bank

of Pakistan, Securities and Exchange Commission of
Pakistan and other regulatory authorities for their continuing
assistance and support, especially during the acquisition
and integration process.
We also acknowledge the support of our clients in helping

us achieve our objectives during the year 2009. Our
acknowledgment and special appreciation goes to the
efforts of our staff for their continuing commitment and
hard work.

For and on behalf of the Board
Muhammad Aurangzeb
Chairman
Karachi
March 03, 2010

SHARIAH ADVISOR’S REPORT
In the Name of Allah the Most Beneficent, the Most Merciful
2009 is the third year of business for the Islamic Banking Division of The Royal Bank of Scotland Limited.
During this period a number of new products, policies and processes were introduced, and some existing processes were
streamlined and improved. The Shariah aspect of all of these changes were reviewed and approved by myself.
In the period under review management has provided me free access to all records, documents and information from all
sources related to the business of the Islamic Banking Division. I have reviewed the operations of this Division on a periodic
basis to ensure that all the products and services being offered conform to the injunctions of Shariah.
Based on the foregoing, I am pleased to report:
1. I have examined on a test check basis, each class of transaction, the relevant documentation and procedures
adopted by the Islamic Banking Division.
2. During my review, any matters requiring corrective measures have been noted and were resolved by Management.
Subject to the foregoing, in my opinion the affairs of the Islamic Banking Division have been carried out in accordance
with the rules and principles of Shariah, SBP regulations and guidelines related to Shariah compliance and other
rules as well as specific fatwa and rulings issued by myself in my capacity as Shariah Advisor from time to time.
3. In my opinion the allocation of funds, weightages, profit sharing ratios, profits and charging of losses (if any) relating
to PLS accounts are in accordance with Shariah rules and principles.
4. In my opinion any earnings that have been realized from sources or by means prohibited by Shariah rules and
principles have been credited to the Charity Account.
And Allah knows best.
Mufti Mohib ul Haq Siddiqui

Shariah Advisor

SIX YEAR’S FINANCIAL SUMMARY
Rs in million
2009 2008 2007 2006 2005 2004
Operational Results
Net Interest Margin 5,198 5,842 6,225 5,939 4,483 2,680

Provision & Writeoffs against non-
performing loans and advances 3,945 3,590 3,873 861 621 200
Profit/(Loss) before tax (1,898) (559) (1,367) 3,571 2,955 1,672
Profit/(Loss) after tax (1,338) (518) (1,565) 2,395 1,803 1,059
Total Income (NIM+Non-mark up income) 7,987 9,595 8,427 8,358 6,450 3,936
Non-Markup Expenses 5,941 6,564 5,922 3,926 2,874 2,063
Cash Dividend - - - - 303 121

Bonus Issue - - - 418 303 101
Balance Sheet
Share Capital/HO Capital 17,180 17,179 13,474 5,297 4,835 3,807

Reserves (10,243) (8,904) (8,385) 3,401 2,732 2,249
Total Shareholder’s funds 6,937 8,276 5,089 8,699 7,567 6,056
Deposits 63,636 79,103 90,289 93,743 85,881 78,330
Advances 48,502 67,910 64,468 71,843 58,450 53,352
Borrowing from Financial Institutions 11,372 8,196 6,068 16,830 16,237 10,581
Investments 27,358 18,983 16,438 25,609 26,436 12,833
Total Assets 93,438 108,092 107,535 123,773 113,341 97,842
Ratios (% age)
Return on capital employed (19%) (6%) (31%) 28% 24% 17%

Advances to Deposits Ratio 76% 86% 71% 77% 68% 68%
Efficiency ratio 74% 68% 70% 47% 45% 52%
Share Information
Earnings per Share (0.80) (0.38) (1.16) 1.78 1.34 0.79

Net Assets per Share 4 0
Market Price per Share 18.00 21.13 47.95 48.60 25.70 19.70
Other information
Total Employees-permanent 1,643 1,860 2,319 2,085 1,784 1,381
Total Branches 79 79 82 81 71 56

STATEMENT OF COMPLIANCE
with the Code of Corporate Governance
The Statement is being presented to comply with 9. The Board has arranged orientation course for
Code of Corporate Governance as contained in its directors to apprise them of their duties and
Prudential Regulation No.G-1, responsibilities of the responsibilities.
Board of Directors advised vide SBP BSD Circular
No. 15 dated June 13, 2002 and the listing regulations 10. The directors’ report for this year has been prepared
of Karachi, Lahore and Islamabad Stock Exchanges in compliance with the requirements of the Code
for the purpose of establishing a framework of good and describes the salient matters required to be
governance, whereby a listed company is managed disclosed.
in compliance with the best practices of corporate
governance. 11. The financial statements of the Bank were duly
endorsed by the Chief Executive and Chief Financial
The Bank has adopted the Code of Corporate Officer before approval of the Board.
Governance and applied the principles contained
in the Code in the following manner: 12. The directors, Chief Executive and executives do
not hold any interest in the shares of Bank other
1. The Bank encourages representation of independent than that disclosed in the pattern of shareholding.
non-executive directors and directors representing
minority interest on its Board of Directors. At present 13. The Bank has complied with all the corporate and
the Board includes three independent/non-executive financial reporting requirements of the Code.
directors.
14. The Board has formed an audit committee. It
2. The directors have confirmed that none of them comprises four members, out of whom three
is serving as a director in more than ten listed members are non-executive directors including the
companies. Chairman of the Committee.
3. All the resident directors of the Bank are registered 15. The meetings of the audit committee were held at
as tax payers and none of them has defaulted in least once every quarter, prior to approval of interim
payment of any loan to a banking company, a DFI and final results of the Bank as required by the
or an NBFI or being a member of stock exchange, Code. The terms of the reference of the Committee
has been declared as a defaulter by that stock have been formed and advised to the Committee for
exchange. compliance.
4. The Bank has prepared a ‘Statement of Ethics and 16. The Board has set-up an effective internal audit
Business Practices’, which has been signed by all function.
the directors and the employees of the Bank.
17. The statutory auditors of the Bank have confirmed
5. The Bank has developed a vision/mission statement, that they have been given a satisfactory rating under
overall corporate strategy and significant policies. A the Quality Control Review Program of the Institute
complete record of particulars of significant policies of Chartered Accountants of Pakistan, that they or
along with the dates on which they were approved any of the partners of the firm, their spouses, and
or amended is maintained. minor children do not hold shares of the Bank and
that the firm and all its partners are in compliance
6. All the powers of the Board have been duly with International Federation of Accountants (IFAC)
exercised and the Board has taken decision on guidelines on Code of Ethics as adopted by Institute
material transactions, including appointment and of Chartered Accountants of Pakistan.
determination of remuneration and terms and
conditions of employment of the Chief Executive. 18. The statutory auditors or the persons associated with
them have not been appointed to provide services
7. The meetings of the Board were presided over by the other than approved services and the auditors have
Chairman and the Board met at least once in every confirmed that they have observed IFAC guidelines
quarter. Written notices of the Board meetings, along in this regard.
with agenda and working papers were circulated at
least seven days before the meetings. The minutes 19. The related party transactions have been placed
of the meetings were appropriately recorded and before the Audit Committee and approved by the
circulated. Board of Directors.
8. The Board approves appointments of Chief Financial 20. We confirm that all other material principles
Officer, the Company Secretary and Head of Internal contained in the Code have been complied.
Audit on the terms and conditions of employment,
as determined by the Chief Executive. On behalf of the Board
Karachi Shehzad Naqvi

March 03, 2010 Chief Executive

REVIEW REPORT TO THE MEMBERS
on the Statement of Compliance with Best Practices of
Code of Corporate Governance
We have reviewed the Statement of Compliance with Further, Listing Regulations of Karachi, Lahore and
the best practices contained in the Code of Corporate Islamabad Stock Exchanges require the Bank to place
Governance prepared by the Board of Directors of The before the Board of Directors for their consideration and
Royal Bank of Scotland Limited (the Bank) for the year approval, related party transactions distinguishing between
ended December 31, 2009, to comply with Regulation G-1 transactions carried out on terms equivalent to those that
of the Prudential Regulation for Corporate / Commercial prevail in arm’s length transactions and transactions which
Banking issued by the State Bank of Pakistan, and Listing are not executed at arm’s length price, recording proper
Regulations of the Karachi, Lahore and Islamabad Stock justification for using such alternate pricing mechanism.
Exchanges where the Bank is listed. Further, all such transactions are required to be separately
placed before the audit committee. We are only required
The responsibility for compliance with the Code of and have ensured compliance of requirement to the extent
Corporate Governance is that of the Board of Directors of of approval of related party transactions by the Board of
the Bank. Our responsibility is to review, to the extent where Directors and placement of such transactions before the
such compliance can be objectively verified, whether the audit committee. We have not carried out any procedures
Statement of Compliance reflects the status of the Bank’s to enable us to express an opinion as to whether the related
compliance with the provisions of the Code of Corporate party transactions were carried out at arm’s length price.
Governance and report if it does not. A review is limited
primarily to inquiries of the Bank’s personnel and review of Based on our review, nothing has come to our attention,
various documents prepared by the Bank to comply with which causes us to believe that the Statement of Compliance
the Code. does not appropriately reflect the Bank’s compliance, in all
material respects, with the best practices contained in the
As part of our audit of the financial statements, we are Code of Corporate Governance as applicable to the Bank
required to obtain an understanding of the accounting for the year ended December 31, 2009.
and internal control systems sufficient to plan the audit and
develop an effective audit approach. We have not carried
out any special review of the internal control system to
enable us to express an opinion as to whether the Board’s
statement on internal control covers all controls and the
effectiveness of such internal controls.
M. Yousuf Adil Saleem & Co.

Engagement Partner:
Mushtaq Ali Hirani
Karachi.
March 03, 2010

NOTICE OF 18TH ANNUAL GENERAL MEETING
Notice is hereby given that the 18th Annual General Meeting of The Royal Bank of Scotland Limited (“RBS”) will be held
on Tuesday, March 30, 2010 at 10:30 a.m. at Kohinoor Hall, Pearl Continental Hotel, Lahore, to transact the following
business:
Ordinary Business
1. To confirm the minutes of the 17th Annual General Meeting of the Bank held on March 30, 2009.
2. To receive, consider and adopt the Audited Accounts for the year ended December 31, 2009 alongwith Directors’
and Auditors’ Reports thereon.
3. To appoint Auditors for the year 2010 and to fix their remuneration.
Other Business
1. To transact any other business with the permission of the Chair.
By Order of the Board
Karachi Mian Ejaz Ahmad

Dated: March 6, 2009 Company Secretary
Notes:
1. The Share Transfer Books of the Bank will remain closed from March 21, 2010 to March 30, 2010 (both days
inclusive).
2. A member entitled to attend the meeting may appoint another member as proxy. Form of proxy is attached with the
notice. Proxies, in order to be effective, must be received at the Legal & Corporate Affairs Department of the Bank,
77 Y Phase-III, Defence Housing Authority, Lahore, not later than forty eight hours before the time of meeting and
must be duly stamped, signed and witnessed.
3. CDC shareholders desiring to attend the meeting are requested to bring their original Computerized National Identity
Card (CNIC), Account details and Participant’s ID number at the time of attending 18th Annual General meeting
in order to facilitate identification of the respective shareholders.
4. Shareholders are requested to promptly notify the Bank’s Registrar, M/s Hameed Majeed Associates (Pvt) Limited,
H.M. House, 7-Bank Square, The Mall, Lahore, of any change in their addresses.

AUDITORS’ REPORT TO THE MEMBERS
We have audited the annexed balance sheet of The Royal iii. the business conducted, investments made
Bank of Scotland Limited (the Bank) as at December and the expenditures incurred during the year
31, 2009 and the related profit and loss account, cash were in accordance with the objects of the
flow statement, statement of comprehensive income and Bank and the transactions of the Bank which
statement of changes in equity, together with the notes have come to our notice have been within the
forming part thereof (here-in-after referred to as the powers of the Bank;
financial statements) for the year then ended, in which are
incorporated the unaudited certified returns from branches (c) in our opinion and to the best of our information
except for 16 branches which have been audited by us and according to the explanations given to us the
and we state that we have obtained all the information balance sheet, profit and loss account, cash flow
and explanations which, to the best of our knowledge and statement, statement of comprehensive income
belief, were necessary for the purposes of our audit. and statement of changes in equity together with
the notes forming part thereof, conform with the
It is the responsibility of the Bank’s Board of Directors to approved accounting standards as applicable
establish and maintain a system of internal control, and in Pakistan, and give the information required by
prepare and present the financial statements in conformity the Banking Companies Ordinance, 1962 (LVII of
with approved accounting standards and the requirements 1962), and the Companies Ordinance, 1984 (XLVII
of the Banking Companies Ordinance, 1962 (LVII of 1962), of 1984), in the manner so required and give a true
and the Companies Ordinance, 1984 (XLVII of 1984). Our and fair view of the state of the Bank’s affairs as at
responsibility is to express an opinion on these statements December 31, 2009 and its true balance of the loss,
based on our audit. its comprehensive loss, its cash flows and changes
in equity for the year then ended; and
We conducted our audit in accordance with the International
Standards on Auditing as applicable in Pakistan. These (d) in our opinion, zakat deductible at source under the
standards require that we plan and perform the audit to Zakat and Ushr Ordinance, 1980 (XVIII of 1980),
obtain reasonable assurance about whether the financial was deducted by the Bank and deposited in the
statements are free of any material misstatement. An audit Central Zakat Fund established under section 7 of
includes examining, on a test basis, evidence supporting that Ordinance.
amounts and disclosures in the financial statements. An
audit also includes assessing the accounting policies
and significant estimates made by management, as well
as, evaluating the overall presentation of the financial
statements. We believe that our audit provides a reasonable
basis for our opinion and after due verification, which in
case of loans and advances covered more than 60 percent
of the total financings of the Bank, we report that: M. Yousuf Adil Saleem & Co.
(a) in our opinion proper books of account have been
kept by the Bank as required by the Companies Engagement Partner:
Ordinance, 1984 (XLVII of 1984) and the returns Mushtaq Ali Hirani
referred to above received from the branches have
been found adequate for the purpose of our audit; Karachi.
March 03, 2010
(b) in our opinion:
i. the balance sheet and profit and loss account

together with the notes thereon have been
drawn up in conformity with the Banking
Companies Ordinance, 1962 (LVII of 1962),
and the Companies Ordinance, 1984 (XLVII of
1984), and are in agreement with the books
of account and are further in accordance
with accounting policies consistently applied,
except for the changes as stated in note 3.3 to
the accompanying financial statements, with
which we concur;
ii. the expenditure incurred during the year was

for the purpose of the Bank’s business; and

FINANCIAL
STATEMENTS
For the year ended December 31, 2009
The Royal Bank of Scotland

Limited

Balance Sheet as at December 31, 2009
Note 2009 2008

Rupees in ‘000
ASSETS
Cash and balances with treasury banks 6 6,456,119 8,578,315

Balances with other banks 7 1,803,273 1,528,817
Lendings to financial institutions 8 800,000 1,783,375
Investments 9 27,357,638 18,983,027
Advances 10 48,501,829 67,910,051
Operating fixed assets 11 4,445,682 4,723,595
Deferred tax assets 12 1,587,230 1,490,856
Other assets 13 2,485,886 3,094,379
93,437,657 108,092,415

LIABILITIES
Bills payable 15 1,230,248 1,731,520

Borrowings 16 11,372,358 8,195,773
Deposits and other accounts 17 63,635,842 79,102,705
Sub-ordinated loan 18 798,560 798,880
Liabilities against assets subject to finance lease - -
Deferred tax liabilities - -
Other liabilities 19 7,595,887 8,208,833
84,632,895 98,037,711
NET ASSETS 8,804,762 10,054,704

REPRESENTED BY
Share capital 20 17,179,814 13,474,364

Advance against subscription for right shares - 3,705,450
Reserves (6,395,647) (6,395,647)
Accumulated loss (3,847,658) (2,508,205)
6,936,509 8,275,962
Surplus on revaluation of assets - net of tax 21 1,868,253 1,778,742
8,804,762 10,054,704

CONTINGENCIES AND COMMITMENTS 22

The annexed notes 1 to 47 form an integral part of these financial statements.

President / Chief Executive Director Director Director

Profit and Loss account for the year ended December 31, 2009
Note 2009 2008

Rupees in ‘000
(Restated)
Mark-up/return/interest earned 24 11,583,400 11,489,886
Mark-up/return/interest expensed 25 (6,385,845) (5,648,005)
Net Mark-up/ Interest Income 5,197,555 5,841,881

Provision against non-performing loans and advances-net 10.4 (2,388,452) (1,705,486)
Provision for diminution in the value of investments 9.3 (1,787) (60,351)
Bad debts written off directly 10.5 (1,554,316) (1,823,868)
(3,944,555) (3,589,705)
Net Mark-up/ Interest Income after provisions 1,253,000 2,252,176

NON MARK-UP/INTEREST INCOME
Fee, commission and brokerage income 1,232,228 1,936,012

Dividend income 1,742 1,769
Income from dealing in foreign currencies 416,042 649,344
Gain / (Loss) on sale of securities 26 119,020 (12,196)
Other Income 27 1,020,226 1,178,073
Total non-markup/interest Income 2,789,258 3,753,002
4,042,258 6,005,178

NON MARK-UP/INTEREST EXPENSES
Administrative expenses 28 (5,796,655) (6,520,763)

Other provisions/write-offs 29 (8,073) (30,362)
Other charges 30 (135,803) (12,610)
Total non-markup/interest expenses (5,940,531) (6,563,735)
(1,898,273) (558,557)
Extra ordinary/unusual items - -

LOSS BEFORE TAXATION (1,898,273) (558,557)

Taxation - Current (72,037) (1,064,870)
- Prior year 487,900 (88,000)
- Deferred 144,356 1,193,768
31 560,219 40,898
LOSS AFTER TAXATION (1,338,054) (517,659)

EARNINGS PER SHARE - BASIC (Rupees) 32 (0.80) (0.38)

EARNINGS PER SHARE - DILUTED (Rupees) 32 (0.80) (0.38)


Cash Flow Statement for the year ended December 31, 2009
Note 2009 2008

Rupees in ‘000
CASH FLOWS FROM OPERATING ACTIVITIES
Loss before taxation (1,898,273) (558,557)

Add: Dividend income (1,742) (1,769)
(1,900,015) (560,326)
Adjustments:
Depreciation 11.2 485,584 417,189
Amortization 11.3 70,285 56,511
Provision against non-performing advances 10.4 2,388,452 1,705,486
Provision for diminution in value of investments 9.3 1,787 60,351
Bad debts written off directly 10.5 1,554,316 1,823,868
(Gain) / Loss on sale of securities 26 (119,020) 12,196
Other provisions/write-offs 29 8,073 52,455
(Gain) / Loss on sale of operating fixed assets 27 (10,615) 64,818
Investment in subsidiary written off - 81
4,378,862 4,192,955
2,478,847 3,632,629
(Increase)/ decrease in operating assets
Lendings to financial institutions 983,375 5,198,696
Held-for-trading securities - 49,326
Advances 15,465,454 (7,283,974)
Others assets (excluding advance taxation) 601,403 (506,595)
17,050,232 (2,542,547)
Increase/ (decrease) in operating liabilities
Bills Payable (501,272) (352,847)
Borrowings 3,473,386 2,546,811
Deposits and other accounts (15,466,863) (11,185,949)
Other liabilities (excluding current taxation) 23,801 4,816,620
(12,470,948) (4,175,365)
7,058,131 (3,085,283)
Income tax paid (218,127) (988,565)
Net cash flows generated from / (used in) operating activities 6,840,004 (4,073,848)

CASH FLOWS FROM INVESTING ACTIVITIES
Net investments in available-for-sale securities (8,117,218) (2,640,030)

Dividend received 1,742 5,954
Investments in operating fixed assets (307,453) (647,369)
Sale proceeds of property and equipment disposed-off 40,112 30,941
Net cash flows used in investing activities (8,382,817) (3,250,504)

CASH FLOWS FROM FINANCING ACTIVITIES

Right shares issuance cost (7,771) (4,303)
Payment of sub-ordinated loan (320) (320)
Dividend paid (35) (105)
Net cash (used in) / generated from financing activities (8,126) 3,700,722

DECREASE IN CASH AND CASH EQUIVALENTS (1,550,939) (3,623,630)

CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 9,800,197 13,423,827
CASH AND CASH EQUIVALENTS AT END OF THE YEAR 33 8,249,258 9,800,197


Statement of Comprehensive Income for the year ended December 31, 2009
2009 2008
Rupees in ‘000
Loss after tax for the year (1,338,054) (517,659)

Items relating to other comprehensive income - -

Total comprehensive loss for the year (1,338,054) (517,659)


Statement of Changes in Equity for the year ended December 31, 2009
C
apital reserves Revenue reserves
Share Advance Merger Statutory General Accumulated Total
capital against reserve reserve reserve loss
subscrip-
tion for
right
shares
------------------------------------------------------------- Rupees in ‘000 -------------------------------------------------------------

Balance as at January 01, 2008 13,474,364 - (7,035,966) 611,949 28,370 (1,989,575) 5,089,142

Total comprehensive loss after tax
for the year ended December 31, 2008 - - - - - (517,659) (517,659)

Transfer from surplus on revaluation of fixed
assets to unappropriated profit - net of tax - - - - - 1,826 1,826

Advance against subscription for right shares - 3,705,450 - - - - 3,705,450

Right shares issuance cost - net of tax - - - - - (2,797) (2,797)

Balance as at December 31, 2008 13,474,364 3,705,450 (7,035,966) 611,949 28,370 (2,508,205) 8,275,962

Total comprehensive loss after tax
for the year ended December 31, 2009 - - - - - (1,338,054) (1,338,054)

Transfer from surplus on revaluation of fixed
assets to unappropriated profit - net of tax - - - - - 3,652 3,652

Advance against subscription for right shares 3,705,450 (3,705,450) - - - - -

Right shares issuance cost - net of tax - - - - - (5,051) (5,051)

Balance as at December 31, 2009 17,179,814 - (7,035,966) 611,949 28,370 (3,847,658) 6,936,509

Notes to the Financial Statements for the year ended December 31, 2009
1. STATUS AND NATURE OF BUSINESS

1.1 The Royal Bank of Scotland Limited (the Bank), was incorporated in Pakistan on September 30, 1991 as a public
limited company under the Companies Ordinance, 1984 and is listed on all stock exchanges of Pakistan. The
Bank’s parent company is ABN AMRO Bank N.V. Amsterdam, which holds 99.37% (2008: 99.22%) of issued
shares. ABN AMRO Bank N.V.’s parent company ABN AMRO Holdings N.V. is controlled and owned by RFS
Holdings B.V. which is ultimately owned by the RBS Plc, Fortis N.V., Fortis S.A./N.V. and Banco Santander S.A. The
ownership of the Bank vests in The Royal Bank of Scotland Group Plc. through ABN AMRO Bank N.V. Amsterdam.
In line with RBS Group Plc.’s strategy to sell its business in Pakistan, the Group is seeking potential buyers for the
Bank.

1.2 The Bank currently operates a network of seventy nine branches (2008: seventy nine) including 3 Islamic Banking
branches in Pakistan and Azad Jammu and Kashmir. The bank operates as a scheduled commercial bank in
Pakistan under a license obtained from the State Bank of Pakistan (SBP) and is principally engaged in retail
banking, corporate banking and treasury related activities.
1.3 The registered office of the bank in Pakistan is situated at 77-Y D.H.A Lahore, where as the principal office is
situated at 16-Abdullah Haroon Road, Karachi.
2. BASIS OF PRESENTATION

In accordance with the directives of the Federal Government regarding the conversion of the banking system to
Islamic modes, the State Bank of Pakistan has issued various circulars from time to time. Permissible forms of
trade-related modes of financing include purchase of goods by banks from their customers and immediate resale
to them at appropriate mark-up in price on deferred payment basis. The purchases and sales arising under these
arrangements are not reflected in these financial statements as such but are restricted to the amount of facility
actually utilized and the appropriate portion of mark-up thereon.
The financial results of the Islamic Banking Branches of the bank have been included in these financial statements
for reporting purposes, after eliminating intra branch transactions/balances. Key financial figures of the Islamic
Banking Branches are disclosed in Annexure - 2 to these financial statements.
3. STATEMENT OF COMPLIANCE

3.1 These financial statements have been prepared in accordance with approved accounting standards as applicable
in Pakistan. Approved Accounting Standards comprise of such International Financial Reporting Standards (IFRS)
issued by the International Accounting Standards Board (IASB) as are notified under the Companies Ordinance,
1984, provisions of and directives issued under the Banking Companies Ordinance, 1962, the Companies
Ordinance, 1984 and the directives issued by State Bank of Pakistan (SBP). In case requirements differ, the
provisions of and directives issued under the Banking Companies Ordinance, 1962, the Companies Ordinance,
1984 and the directives issued by SBP shall prevail.
3.2 The SBP has deferred the applicability of International Accounting Standard (IAS) 39, ‘Financial Instruments:
Recognition and Measurement’ and International Accounting Standard (IAS) 40, ‘Investment Property’ for banking
companies through BSD Circular Letter No. 10 dated August 26, 2002 till further instructions. Further, the SECP
has deferred the applicability of International Financial Reporting Standard (IFRS) 7 ‘ Financial Instruments:
Disclosures’ through its notification S.R.O 411(I)/2008 dated April 28, 2008. Accordingly, the requirements of these
standards have not been considered in the preparation of these financial statements. However, investments have
been classified and valued in accordance with the requirements prescribed by the SBP through various circulars.
In addition, Securities and Exchange Commission of Pakistan (SECP) has notified the Islamic Financial Accounting
Standard (IFAS) 1 - Murabaha issued by the Institute of Chartered Accountants of Pakistan. IFAS 1 was effective
for financial periods beginning on or after January 1, 2006. The IFAS 1 has not been adopted by stand alone
Islamic branches of conventional banks pending resolution of certain issues e.g. invoicing of goods, recording of
inventories, concurrent application with other approved accounting standards in place for conventional banks, etc.
Pakistan Banks Association and Modaraba Association of Pakistan have taken up the issue with SBP and SECP.

3.3 Changes in accounting policy and disclosures - standards, interpretations and amendments to published approved
accounting standards that are effective in the current year
(a) IAS 1 (revised), ‘Presentation of financial statements’ (effective from January 1, 2009). The revised standard
prohibits the presentation of items of income and expenses (that is, ‘non-owner changes in equity’) in the statement
of changes in equity. It requires non-owner changes in equity to be presented separately from owner changes
in equity. All non-owner changes in equity are required to be shown in a performance statement, but entities
can choose whether to present one performance statement (the statement of comprehensive income) or two
statements (the income statement and statement of comprehensive income). Where entities restate or reclassify
comparative information, they are required to present a restated statement of financial position as at the beginning
comparative period, in addition to the current requirement to present statements of financial position at the end of
the current period and comparative period.
The Bank has applied IAS 1 (revised) during the current period, and has accordingly changed its accounting
policy to comply with the new requirements of IAS. The Bank has elected to show elements of comprehensive
income in a separate statement. The change in presentation has not affected the values of the net assets of the
Bank for either the current or any of the prior periods and there is no impact on the earnings per share. Further,
as surplus on revaluation of assets does not form part of the equity under the local laws and is presented below
the equity in the balance sheet, accordingly changes in equity arising from surplus on revaluation of assets have
not been considered as part of comprehensive income and accordingly these are not included in the statement of
comprehensive income presented in these financial statements.
(b) IAS 23 (Amendment) ‘Borrowing costs’ (effective from January 1, 2009). This standard requires an entity to
capitalise borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset
(one that takes a substantial period of time to get ready for use or sale) as part of the cost of that asset. The option
of immediately expensing those borrowing costs has been removed. Further, the definition of borrowing cost has
been amended so that interest expense is calculated using the effective interest method. The bank has adopted
the aforementioned amendments from January 1, 2009. The management of the bank believes that presently this
amendment does not have any impact on the bank’s financial statements.
(c) IAS 19 (Amendment), ‘Employee benefits’ (effective from January 1, 2009).

- The amendment clarifies that a plan amendment that results in a change in the extent to which benefit
promises are affected by future salary increases is a curtailment, while an amendment that changes benefits
attributable to past service gives rise to a negative past service cost if it results in a reduction in the present
value of the defined benefit obligation.

- The definition of return on plan assets has been amended to state that plan administration costs are
deducted in the calculation of return on plan assets only to the extent that such costs have been excluded
from measurement of the defined benefit obligation.

- The distinction between short term and long term employee benefits will be based on whether benefits are
due to be settled within or after 12 months of employee service being rendered.

- IAS 37, ‘Provisions, contingent liabilities and contingent assets’, requires contingent liabilities to be disclosed,
which are not recognised. IAS 19 has been amended to be consistent.

The Bank has adopted the aforementioned amendments from January 1, 2009. The management of the Bank
believes that this amendment does not have any impact on the bank’s financial statements.

(d) IAS 36 (Amendment), ‘Impairment of assets’ (effective from January 1, 2009). As per the new requirements, where
fair value less costs to sell is calculated on the basis of discounted cash flows, disclosures equivalent to those for
value-in-use calculation should be made. The Bank has adopted the aforementioned amendments from January
1, 2009. The management of the bank believes that presently this amendment does not have any impact on the
Bank’s financial statements.
(e) IAS 38 (Amendment), ‘Intangible assets’ (effective from January 1, 2009). The amended standard states that a
prepayment may only be recognised in the event that payment has been made in advance of obtaining right of
access to goods or receipt of services. The Bank has adopted the aforementioned amendments from January
1, 2009. The management of the bank believes that this amendment does not have any impact on the Bank’s

(f) Pursuant to IBD circular no. 1 dated January 27, 2009 the Bank has adopted IFAS 2 - “Ijarah” for all Ijarah contracts
entered on or after January 01, 2009. As the policy would be applied to all future contracts, the adoption of this
standard did not require any restatement.
(g) There are other amendments to the approved accounting standards and interpretations that are mandatory for
accounting periods beginning on or after January 1, 2009 but are considered not to be relevant or to have any
significant effect on the Bank’s operations and are therefore not detailed in these financial statements.
3.4 Standards, interpretations and amendments to published approved accounting standards that are not applied

IFRS 8 ‘Operating segments’, (effective from January 1, 2009). IFRS 8 replaces IAS 14, ‘Segment reporting’. The
new standard requires a ‘management approach’, under which segment information is presented on the same
basis as that used for internal reporting purposes. In addition, the segments are reported in a manner that is
more consistent with the internal reporting provided to the chief operating decision-maker. All Banking companies
in Pakistan are required to prepare their annual financial statements in line with the format prescribed under
BSD Circular No. 4 dated February 17, 2006, ‘Revised Forms of Annual Financial Statements’, effective from the
accounting year ended December 31, 2006. The management of the Bank believes that the SBP has defined the
segment categorization through the BSD Circular. Accordingly, the requirements specified by the IFRS 8 as above
are presently not applicable on the Bank’s financial statements.
3.5 Standards, interpretations and amendments to published approved accounting standards that are not yet effective

The following standards, amendments and interpretations of approved accounting standards will be effective for
accounting periods beginning on or after January 1, 2010:

(a) IFRIC – 17 Distributions of Non-cash Assets to Owners (effective for annual periods beginning on or after July
01, 2009) states that when a Bank disributes non cash assets to its shareholders as dividend, the liability for
the dividend is measured at fair value. If there are subsequent changes in the fair value before the liability is
discharged, this is recognised in equity. When the non cash asset is distributed, the difference between the
carrying amount and fair value is recognised in the income statement. As the Bank does not distribute non-cash
assets to its shareholders, this interpretation has no impact on the Bank’s financial statements.
(b) Amendment to IFRS 5 ‘Measurement of non-current assets (or disposal groups) classified as held-for-sale’. The
amendment provides clarification that IFRS 5 specifies the disclosures required in respect of non-current assets (or
disposal groups) classified as held for sale or discontinued operations. It also clarifies that the general requirement
of IAS 1 still apply, particularly paragraph 15 (to achieve a fair presentation) and paragraph 125 (sources of
estimation uncertainty) of IAS 1. The Bank will apply IFRS 5 (amendment) from 1 January 2010. It is not expected
to have a material impact on the Bank’s financial statements.
(c) Amendment to IAS 32 - Financial Instruments: Presentation – Classification of Rights Issues (effective for annual
periods beginning on or after February 01, 2010). The IASB amended IAS 32 to allow rights, options or warrants to
acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency to be classified
as equity instruments provided the entity offers the rights, options or warrants pro rata to all of its existing owners
of the same class of its own non-derivative equity instruments.
(d) IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments (effective for annual periods beginning on
or after July 01, 2010). This interpretation provides guidance on the accounting for debt for equity swaps. This
interpretation has no impact on the Bank’s financial statements.
(e) IAS 24 - Related Party Disclosures (revised 2009) – effective for annual periods beginning on or after January
01, 2011. The revision amends the definition of a related party and modifies certain related party disclosure
requirements for government-related entities. The amendment would result in certain changes in disclosures.
(f) Amendments to IFRIC 14 IAS 19 - The Limit on a Defined Benefit Assets, Minimum Funding Requirements and
their Interaction (effective for annual periods beginning on or after January 01, 2011). These amendments
remove unintended consequences arising from the treatment of prepayments where there is a minimum funding
requirement. These amendments result in prepayments of contributions in certain circumstances being recognised
as an asset rather than an expense. This amendment is not likely to have any impact on Bank’s financial statements.
(g) The International Accounting Standards Board made certain amendments to existing standards as part of its
Second annual improvements project. The effective dates for these amendments vary by standard and most will
be applicable to the Bank’s 2010 financial statements.

(h) There are other amendments to the approved accounting standards and interpretations that are mandatory for
accounting periods beginning on or after January 1, 2010 but are considered not to be relevant or to have any
significant effect on the Bank’s operations and are therefore not detailed in these financial statements.
3.6 Early adoption of standards

The Bank did not early adopt new or amended standard in 2009.

4. BASIS OF MEASUREMENT

4.1 Accounting convention

These financial statements have been prepared under the historical cost convention except that certain fixed
assets, investments and derivative financial instruments are carried at fair value and certain staff retirement
benefits are carried at present value.

4.2 Critical accounting estimates and judgments

The preparation of financial statements in conformity with approved accounting standards requires to make certain
judgments, accounting estimates and assumptions. It also requires the management to exercise its judgment
in the process of applying the Bank’s accounting policies. These estimates and associated assumptions are
continually evaluated and are based on historical experience, statutory requirements and other factors considered
reasonable in the circumstances. Revision to accounting estimates are recognized in the period in which the
estimate is revised and in any future periods affected. The estimates and assumptions that are expected to have
a significant effect on the assets and liabilities, income and expenses have been disclosed in note 44 to these

5. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

5.1 Cash and cash equivalents

For the purpose of the Cash Flow Statement, cash and cash equivalents include cash and balances with treasury
bank and balances with other banks (net of overdrawn nostro accounts) in current and deposit accounts.

5.2 Repurchase and resale agreements

The Bank enters into transactions of borrowing (repurchase) from and lending (reverse repurchase) to financial
institutions, at contracted rates for a specified period of time. These are recorded as under:

(a) Repurchase agreement borrowings

Securities sold subject to a repurchase agreement at a specified future date (repos) continue to be recognized
in the balance sheet and are measured in accordance with accounting policies for investment securities. The
counterparty liability for amounts received under these agreements is included in borrowings. The difference
between sale and repurchase price is treated as mark-up expense and is accrued over the period of the repo
agreement.

(b) Repurchase agreement lendings

Securities purchased under agreement to resell at a specified future date (reverse repos) are not recognized in
the balance sheet. Amounts paid under these agreements are included in lendings to financial institutions. The
difference between purchase and resale price is treated as mark-up earned and is accrued over the period of the
reverse repo agreement.

Securities purchased are not recognised in the financial statements, unless these are sold to third parties, in which
case the obligation to return them is recorded at fair value as a trading liability under borrowings from financial
institutions.

5.3 Investments

The management determines the appropriate classification of its investments at the time of purchase and classifies
these investments as held for trading, held to maturity or available for sale as described below. These are initially
recognized at cost, being the fair value of the consideration given including the acquisition cost.

(a) Held-for-trading

These are securities, which are either acquired with the intention to trade by taking advantage of short term market
/ interest rate movements, dealer’s margin or are securities included in a portfolio in which a pattern of short-term
profit taking exits.

(b) Held-to-maturity

These are securities with fixed or determinable payments and fixed maturity that the bank has the positive intent
and ability to hold to maturity.

(c) Available-for-sale

These are investments that do not fall under the held for trading or held to maturity categories.

In accordance with the requirements of the SBP, quoted securities, other than those classified as held to maturity,
are stated at market value. Surplus / (deficit) arising on revaluation of quoted securities which are classified as
‘available for sale’ is taken to a separate account which is shown in the balance sheet below equity. Surplus /
(deficit) arising on revaluation of quoted securities which are classified as ‘held for trading’ is taken to the profit
and loss account. Investments classified as held to maturity are carried at amortized cost.
Unquoted equity securities are valued at the lower of cost and break-up value. Subsequent increases or decreases
in the carrying value are credited/charged to profit and loss account. Break-up value of equity securities is
calculated with reference to the net assets of the investee company as per the latest available audited financial
statements. Investments in other unquoted securities are valued at cost less impairment losses, if any. Impairment
loss is charged to the profit and loss account currently, if evidence exists that the same has occurred.
Gains and losses arising on sale of investments during the year are taken to the profit and loss account.

Provision for diminution in the value of securities (except for debentures, participation term certificates and term
finance certificates) is made after considering impairment, if any, in their value. Provision for diminution in value
of debentures, participation term certificates and term finance certificates are made in accordance with the
requirements of Prudential Regulations issued by SBP.
5.4 Advances

Advances are stated net of general and specific provisions.

Provisions against non-performing advances are made in accordance with the requirements of the Prudential
Regulations issued by the SBP and charged to the profit and loss account.
Corporate advances are written off when there is no realistic prospect of recovery. Consumer advances are
generally written off after a pre-determined number of days past due, or when warranted.
Leases, where the Bank transfers substantially all the risks and rewards incidental to the ownership of an asset are
classified as finance leases. A receivable is recognized at an amount equal to the present value of the minimum
lease payments, including guaranteed residual value, if any. Unearned finance income is recognized over the term
of the lease, so as to produce a constant periodic return on the outstanding net investment in lease.
5.5 Operating Fixed Assets and Depreciation

(a) Property and equipment

Property and equipment, other than freehold and leasehold land which is not depreciated, are stated at cost or
revalued amount less accumulated depreciation and accumulated impairment losses (if any). Land is carried at
revalued amount.

Surplus arising on revaluation of fixed assets is credited to surplus on revaluation of fixed assets account. Deficit
arising on subsequent revaluation of fixed assets is adjusted against the balance in the above mentioned surplus
account as allowed under the provisions of the Companies Ordinance, 1984. The surplus on revaluation of
fixed assets to the extent of incremental depreciation charged on the related assets, is transferred directly to
unappropriated profit (net of deferred tax).
Revaluation is carried out with sufficient regularity to ensure that the carrying amount of assets does not differ
materially from their fair value.
Depreciation is calculated so as to write off depreciable amount of the assets over their expected economic lives
at the rates specified in note 11.2 to these financial statements. The depreciation charge for the year is calculated
after taking into account residual value, if any, and using methods depending on the nature of the assets. The
residual values, useful lives and depreciation methods are reviewed and adjusted, if appropriate, at each balance
sheet date.

Depreciation on additions is charged commencing from the month in which the asset is put to use whereas no
depreciation is charged for the month in which the asset is disposed off.
Subsequent costs are included in an asset’s carrying amount or recognized as a separate asset as appropriate,
only when it is probable that future benefits associated with the item will flow to the bank and the cost of the item
can be measured reliably. All other repairs and maintenance are charged to the profit and loss account as and
when incurred.
An item of property and equipment is derecognized upon disposal or when no future economic benefits are
expected from its use or disposal. Any gain or loss arising on derecognition of the assets is recognized in the profit
and loss account in the year when asset is derecognized, except that the related surplus on revaluation of fixed
assets (net of deferred tax) is transferred directly to equity.
(b) Capital work-in-progress

Capital work-in-progress is stated at cost.

(c) Intangible assets

Intangible assets having a finite useful life are stated at cost less accumulated amortization and accumulated
impairment losses, if any. Intangible assets are amortized from the month, when these assets are put to use, using
the straight line method, whereby the cost of the intangible is amortized on the basis of the estimated useful life
over which economic benefits are expected to flow to the Bank. The residual value, useful life and amortization
method is reviewed and adjusted, if appropriate, at each balance sheet date.
5.6 Non current assets held for sale

Non current assets (or disposal groups comprising assets and liabilities) that are expected to be recovered
primarily through sale rather than through continuing use are classified as held for sale. The assets (or disposal
groups) are measured at lower of their carrying amount and fair value less cost to sell. Impairment losses on initial
classification as held for sale and subsequent gains or losses on remeasurement are recognized in the profit or
loss account.

5.7 Impairment

The carrying amount of assets are reviewed at each balance sheet date for impairment whenever events or
changes in circumstances indicate that the carrying amounts of the assets may not be recoverable. If such
indication exists, and where the carrying value exceeds the estimated recoverable amount, assets are written
down to their recoverable amount. The recoverable amount is higher of an asset’s fair value less cost to sell
and value in use. The resulting impairment loss is taken to profit and loss account except for impairment loss on
revalued assets, which is adjusted against the related revaluation surplus to the extent that the impairment loss
does not exceed the surplus on revaluation of that asset.

5.8 Taxation

Current

Provision for current taxation is based on taxable income at the current rate of tax after taking into account applicable
tax credits, rebates and exemptions available, if any. The charge for current tax also includes adjustments, where
considered necessary, relating to prior years arising from assessments made during the year.

Deferred

Deferred tax is recognized, on all major temporary differences, tax credits and unused tax losses at the balance
sheet date between the amounts attributed to assets and liabilities for financial reporting purposes and amounts
used for taxation purposes. Deferred tax is calculated at the rates that are expected to apply to the periods when
the differences will reverse, based on tax rates that have been enacted or substantially enacted at the balance
sheet date.
A deferred tax asset is recognized only to the extent that it is probable that future taxable profit will be available
against which the asset can be utilized. Deferred tax asset is reduced to the extent that it is no longer probable
that the related tax benefit will be realized.
The Bank also recognizes a deferred tax asset / liability on deficit / surplus on revaluation of fixed assets and
securities which is adjusted against the related deficit / surplus in accordance with the requirements of International
Accounting Standard (IAS) 12 ‘Income Taxes’.
5.9 Provisions

Provisions are recognized when the bank has a legal or constructive obligation as a result of past events, it is
probable that an outflow of resources will be required to settle the obligation and a reliable estimate of the amount
can be made. Provisions are reviewed at each balance sheet date and are adjusted to reflect the current best
estimate.
5.10 Subordinated loans

Subordinated loans are initially recorded at the amount of proceeds received. Markup accrued on these loans is
recognized separately as part of other liabilities and is charged to the profit and loss account over the period on
accrual basis.
5.11 Staff retirement benefits

(a) Defined benefit plan

The Bank operates a funded gratuity scheme for all its confirmed employees who have completed five years of
service or more. Contributions to the fund are made in accordance with the recommendations of an independent
actuary to a separately administered fund (refer note 35). The most recent valuation in this regard was carried out
as at December 31, 2009, using the projected unit credit actuarial valuation method.
(b) Defined contribution plan

The Bank also operates an approved provident fund scheme for all its confirmed employees. Equal monthly
contributions are made by the bank and the employees to the fund at the rate of 10% of basic salary.
5.12 Segment reporting

A segment is a distinguishable component of the Bank that is subject to risks and rewards that are different
from those of other segment. A business segment is one that is engaged either in providing certain products or
services, whereas a geographical segment is one engaged in providing certain products or services within a
particular economic environment. Segment information is presented as per the Bank’s functional structure and the
guidance of State Bank of Pakistan. The Bank comprises of the following main business segments:

5.12.1 Business segments

(a) Corporate finance

This includes Investment Banking activities such as merger and acquisition, underwriting, privatization,
securitization, Initial Public Offers (IPOs) and secondary private placements.
(b) Trading and sales

This segment undertakes the bank’s treasury, money market and capital market activities.

(c) Retail banking

Retail banking provides services to small borrowers i.e. consumers, small and medium enterprises (SMEs) and
borrowers’ agriculture sector. It includes loan, deposits and other transactions with retail customers.
(d) Commercial banking

Commercial banking segment provides services related to project finance, export finance, trade finance, leasing,
lending, guarantees, bills of exchange and deposits from corporate customers.
(e) Agency services

Agency service includes income from rent of lockers provided to customers.

5.12.2 Geographical segments

The Bank conducts all its operations in Pakistan.

5.13 Foreign currencies

(a) Functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic environment
in which the bank operates. The financial statements are presented in Pakistani Rupees, which is the Bank’s
functional and presentation currency.
(b) Foreign currency transactions and translations

Foreign currency transactions are translated into Pakistani Rupees at the rates of exchange prevailing on the
date of transaction. Monetary assets and liabilities in foreign currencies are translated into Pakistani Rupees
at exchange rates prevailing at the balance sheet date. Foreign bills purchased and forward foreign exchange
contracts are valued at the rates applicable to their respective maturities. Exchange gains or losses are included
in the profit and loss account.
(c) Commitments

All forward exchange contracts are revalued using forward rates determined with reference to their respective
remaining maturities. Contingent liabilities / commitments for letters of credit and letters of guarantee denominated
in foreign currencies are expressed in rupee terms at the rates of exchange ruling on the balance sheet date.
5.14 Revenue recognition

Revenue is recognized to the extent that the economic benefits will flow to the bank and the revenue can be reliably
measured. The following recognition criteria are used for revenue recognition:
(a) Advances and investments

Markup/return on regular loans/advances and investments is recognized on time proportion basis. Where debt
securities are purchased at premium or discount, the same is amortized through the profit and loss account using
the effective interest rate method.

Interest or markup recoverable on classified loans and advances and investments is recognized on receipt basis.
Interest/return/mark-up on rescheduled/restructured loans and advances and investments is recognized as
permitted by the regulations of the SBP.
Dividend income is recognized when the Bank’s right to receive the dividend is established.

Gain and loss on sale of investments are recognized in the profit and loss account.

(b) Lease financing

Financing method is used in accounting for income from lease financing. Under this method, the unearned lease
income (excess of the sum of total lease rentals and estimated residual value over the cost of leased assets) is
deferred and taken to income over the term of the lease period so as to produce a constant periodic rate of return
on the outstanding net investment in lease.
Gains/losses on termination of lease contracts, documentation charges, front-end fees and other lease income are
recognized as income on receipts basis.
(c) Fees, brokerage and commission

Commission are generally recognized on an accrual basis. Other fees are recognized when earned.
5.15 Offsetting

Financial assets and financial liabilities are offset and the net amount is reported in the financial statements when
there is a legally enforceable right to set off the recognized amounts and the bank intends to either settle on a net
basis, or to realize the asset and to settle the liability simultaneously.
5.16 Earnings per share

The Bank presents basic and diluted earnings per share (EPS). Basic EPS is calculated by dividing the profit
or loss, as the case may be, attributable to ordinary shareholders of the Bank by the weighted average number
of ordinary shares outstanding during the year. Diluted EPS is determined by adjusting the profit attributable to
ordinary shareholders and the weighted average number of ordinary shares outstanding for the effects of all
dilutive potential ordinary shares, if any. The Bank does not account for the effect of potential ordinary shares while
calculating dilutive loss per share in accordance with the requirements of the IAS 33 ‘Earnings per Share’.
5.17 Financial instruments

5.17.1 Financial assets and liabilities

Financial instruments carried on the balance sheet include cash and bank balances, lendings to financial institutions,
investments, advances, certain other receivables, borrowings from financial institutions, deposits and certain other
payables. The particular recognition methods adopted for significant financial assets and financial liabilities are
disclosed in the individual policy statements associated with them. Financial assets are de-recognized when the
contractual right to future cash flows from the asset expire or is transferred along with the risk and reward of the
asset. Financial liabilities are de-recognized when obligation specified in the contract is discharged, cancelled or
expired. Any gain or loss on de-recognition of the financial asset and liabilities is recognized in the profit and loss
account of the current period.

5.17.2 Derivative financial instruments

Derivative financial instruments are initially recognized at their fair value on the date on which a derivative contract
is entered into and are subsequently remeasured at fair value using appropriate valuation techniques. All derivative
financial instruments are carried as assets when fair value is positive and liabilities when fair value is negative. Any
change in the fair value of derivative financial instruments is taken to the profit and loss account.

5.18 Dividends and appropriation to reserves

Dividend and appropriation to reserves, except appropriation which are required by the law after the balance
sheet date, are recognized as liability in the Bank’s financial statements in the year in which these are declared.

Note 2009 2008
Rupees in ‘000
6. CASH AND BALANCES WITH TREASURY BANKS

In hand:
Local currency 721,306 1,217,288
Foreign currencies 266,412 688,868
987,718 1,906,156

With State Bank of Pakistan in:

Local currency current account 6.1 2,850,021 3,810,081

Foreign currency accounts:

Cash reserve account - non-remunerative 6.2 631,832 676,649
Special cash reserve account - remunerative 6.3 1,895,460 2,028,877
Local US Dollar clearing account - non-remunerative 12,853 18,499
2,540,145 2,724,025
5,390,166 6,534,106
With National Bank of Pakistan in:

Local currency current account 77,024 133,939

National Prize Bonds 1,211 4,114

6,456,119 8,578,315

6.1 Deposits with SBP are maintained to comply with statutory requirements issued from time to time.

6.2 This represents foreign currency cash reserve maintained with SBP equivalent to atleast 5% of the Bank’s foreign
currency deposits.
6.3
This represents foreign currency special cash reserve maintained with SBP. Profit rates on this deposit account
are fixed on a monthly basis by SBP. However, the profit rates remained 0% in 2009 (2008: 0.90% and 3.60% per
annum).

2009 2008
Rupees in ‘000
7. BALANCES WITH OTHER BANKS

In Pakistan

On current account 241,772 182,191
On deposit account - -
241,772 182,191
Outside Pakistan

On current account 1,561,501 89,496
On deposit account - 1,257,130
1,561,501 1,346,626
1,803,273 1,528,817


Note 2009 2008
Rupees in ‘000
8. LENDINGS TO FINANCIAL INSTITUTIONS

Call money lending - 100,000
Repurchase agreement lendings (Reverse Repo) 8.2 & 8.3 800,000 1,683,375
800,000 1,783,375
8.1 Particulars of lending

In local currency 800,000 1,783,375
In foreign currencies - -
800,000 1,783,375
2009 2008
Held by Further Total Held by Further Total
bank given as bank given as
collateral collateral
Rupees in ‘000
8.2 Securities held as collateral against

lending to financial institutions

Pakistan Investment Bonds 8.2.1 800,000 - 800,000 - - -
Market Treasury Bills - - - 1,683,375 - 1,683,375
800,000 - 800,000 1,683,375 - 1,683,375
8.2.1 Pakistan Investment Bonds (PIBs) having face value of Rs. 700 million (2008: Rs. Nil) which were held as collateral
for lendings to various financial Institutions, were subsequently sold as part of money market activities. The market
value of the PIB’s sold has been disclosed as a trading liabilty under note 19 to these financial statements.

8.3 These represent lendings to various financial institutions at mark-up rates ranging between 11.85% to 12% (2008:
13% to 14.50%) per annum, maturing upto April 02, 2010.
2009 2008
Note Held by Given as Total Held by Given as Total
bank collateral collateral
Rupees in ‘000
9. INVESTMENTS
9.1 Investment by types:
Held-for-trading securities - - - - - -
Available-for-sale securities
Pakistan Investment Bonds 9.2.1 4,567,170 - 4,567,170 265,524 - 265,524
Market Treasury Bills 9.2.2 16,165,513 5,470,698 21,636,211 16,717,157 984,462 17,701,619
Pakistan Ijara Sukuk 9.2.3 1,000,000 - 1,000,000 1,000,000 - 1,000,000
Unlisted Ordinary shares 9.2.4 23,139 - 23,139 23,139 - 23,139
Listed Preference shares 9.2.5 54,630 - 54,630 54,630 - 54,630
Open end Mutual Fund Units 9.2.6 5,000 - 5,000 5,000 - 5,000
Term Finance Certificates - Un-listed 9.2.7 12,495 - 12,495 12,495 - 12,495
21,827,947 5,470,698 27,298,645 18,077,945 984,462 19,062,407
Investments at cost / carrying value 21,827,947 5,470,698 27,298,645 18,077,945 984,462 19,062,407
Less: Provision for diminution in
value of Investments 9.3 (68,264) - (68,264) (66,477) - (66,477)

Investments (Net of Provisions) 21,759,683 5,470,698 27,230,381 18,011,468 984,462 18,995,930

Surplus/(deficit) on revaluation of
Held-for-trading securities - - - - - -

Available-for-sale securities 21.2 123,100 4,157 127,257 (12,903) - (12,903)
123,100 4,157 127,257 (12,903) - (12,903)

Total investments at market value 21,882,783 5,474,855 27,357,638 17,998,565 984,462 18,983,027

Note 2009 2008
Rupees in ‘000
9.2 Investment by segments:

Federal Government Securities:

Pakistan Investment Bonds 9.2.1 4,567,170 265,524
Market Treasury Bills 9.2.2 21,636,211 17,701,619
Pakistan Ijara Sukuk 9.2.3 1,000,000 1,000,000
27,203,381 18,967,143

Fully paid up Ordinary shares - Unlisted 9.2.4 23,139 23,139

Fully paid up Preference shares - Listed 9.2.5 54,630 54,630

Open end Mutual Fund Units 9.2.6 5,000 5,000

Term Finance Certificates, Debentures,
Bonds and Participation Term Certificates:

Unlisted 9.2.7 12,495 12,495
Investments at cost 27,298,645 19,062,407
Less: Provision for diminution in value
of investments 9.3 (68,264) (66,477)
Investments (net of provisions) 27,230,381 18,995,930

Surplus/(deficit) on revaluation of

Held-for-trading securities - -
Available-for-sale securities 21.2 127,257 (12,903)
127,257 (12,903)
Total investments at market value 27,357,638 18,983,027

9.2.1 These represent Pakistan Investment Bonds (PIBs) with interest income receivable semi-annually with a maximum
remaining term upto five years. These are eligible for re-discounting with the State Bank of Pakistan.

9.2.2 Market treasury bills are for a period of twelve months with maturity up to October 07, 2010. These are eligible for
re-discounting with the State Bank of Pakistan.

9.2.3 These represent Pakistan Ijara Sukuk Bonds with rental income receivable semi-annually with a maximum term
upto 3 years. These are eligible for re-discounting with the State Bank of Pakistan.


Cost
Rating 2009 2008
Rupees in ‘000
9.2.4 Unlisted companies
Fully paid up ordinary Shares

Credit Rating Information Services Limited (Bangladesh)

260,000 (2008: 260,000) Ordinary shares of Taka 10/- each. Unrated 2,452 2,452
Equity held 18.5 % (2008: 18.5%). Value of investment based on
net assets shown in audited accounts as of December 31, 2004 is
Taka 1.672 million ( 2008: Rs. 1.672 million based on December 31,
2004 audited accounts)
Name of Chief Executive: Mr. Muzaffar Ahmed

Khushhali Bank Limited

15 (2008: 15) fully paid Ordinary shares of Rs. 1 million each. Unrated 15,000 15,000
Equity held 0.88% (2008: 0.88%).
Value of investment based on net assets shown in audited accounts
as of December 31, 2008 is Rs. 16.765 million (2008: Rs. 16.498 million
based on December 31, 2007 audited accounts)
Name of Chief Executive: Mr. Ghalib Nishtar

Pakistan Export Finance Guarantee Agency Limited

568,044 (2008: 568,044) fully paid Ordinary shares of Rs. 10/- each. Unrated 5,687 5,687
Equity held 5.27% (2008: 5.27%).
Value of investment based on net assets shown in audited accounts
as of December 31, 2007 is Rs. 1.787 million (2008: Rs. 1.787 million
based on December 31, 2007 audited accounts)
Name of Chief Executive: Mr. S.M. Zaeem
23,139 23,139
9.2.5 Fully paid up preference shares of listed companies

Paid-up
No. of shares value per Cost M
arket Value
2009 2008 share Rating 2009 2008 2009 2008
Rupees Rupees in ‘000

4,763,000 4,763,000 10 Chenab
Limited - 9.25% p.a. Unrated 47,630 47,630 - -
(note 9.2.5.1)

770,000 700,000 10 Noon Pakistan
Limited - 12% p.a. Unrated 7,000 7,000 16,155 8,106
54,630 54,630 16,155 8,106
9.2.5.1 Given the current financial position and market price of the company’ shares, the Bank has fully provided against
the value of these preference shares.

9.2.6 Open and Mutual Fund Units
Paid-up
No. of units value per Cost M
arket Value
2009 2008 unit Rating 2009 2008 2009 2008
Rupees Rupees in ‘000

100,500 100,500 50 ABAMCO Limited -
UTP A30 Fund Unrated 5,000 5,000 3,559 3,373
5,000 5,000 3,559 3,373
Cost
Rated 2009 2008
Rupees in ‘000
9.2.7 Term finance certificates, debentures,

bonds and participation term certificates - Unlisted

Dewan Sugar Mills Limited

10,000 (2008: 10,000) certificates of Rs. 5,000 each Unrated 12,495 12,495
Rate of Interest: SBP discount rate minus 2% p.a.
with 6% p.a. as floor and 12% p.a. as ceiling
Maturity date: June 11, 2008 (in delinquency)
Name of Chief Executive: Dewan M. Yousaf Farooqui
12,495 12,495

2009 2008
Rupees in ‘000
9.3 Particulars of provision

Opening balance 66,477 6,126
Charge for the year 1,787 60,351
Reversals - -
Closing balance 68,264 66,477

9.3.1 Particulars of provision in respect of type and segment

Available-for-sale securities

Ordinary shares - unlisted
Credit Rating Information Services Limited (Bangladesh) 2,452 2,452
Pakistan Export Finance Guarantee Agency Limited 5,687 3,900

Fully paid up preference shares - Listed
Chenab Limited 47,630 47,630

Term Finance Certificates - Unlisted
Dewan Sugar Mills Limited 12,495 12,495
68,264 66,477

Note 2009 2008
Rupees in ‘000
10. ADVANCES

Loans, cash credits, running finances, etc.
In Pakistan 55,110,344 72,053,391
Outside Pakistan - -
55,110,344 72,053,391
Net investment in finance lease
In Pakistan 10.2 379,669 620,544

Bills discounted and purchased (excluding treasury bills)
Payable in Pakistan 208,773 331,084
Payable outside Pakistan 251,831 535,342
460,604 866,426
Advances - gross 55,950,617 73,540,361

Provision for non-performing advances-Specific 10.4 (7,106,876) (5,123,823)
Provision for non-performing advances-General 10.4 (341,912) (506,487)
(7,448,788) (5,630,310)
Advances - net of provision 48,501,829 67,910,051

10.1 Particulars of advances (Gross)

10.1.1 In local currency 55,047,170 71,169,995
In foreign currencies 903,447 2,370,366
55,950,617 73,540,361

10.1.2 Short Term (for upto one year) 37,491,991 43,038,318
Long Term (for over one year) 18,458,626 30,502,043
55,950,617 73,540,361
10.2 Net investment in finance lease

2009 2008
Not later Later than Over Total Not later Later than Over Total
than one one and less five than one one and less five
year than five years years year than five years years
Rupees in ‘000 Rupees in ‘000
Lease rentals receivable 22,311 252,270 - 274,581 215,824 307,078 752 523,654
Residual value 29,238 119,547 - 148,785 98,341 97,722 118 196,181
Minimum lease payments 51,549 371,817 - 423,366 314,165 404,800 870 719,835

Financial charges for future periods (2,260) (41,437) - (43,697) (36,507) (62,532) (252) (99,291)
Present value of minimum

lease payments 49,289 330,380 - 379,669 277,658 342,268 618 620,544

10.3 Advances include a sum of Rs.10,664.487 (2008: Rs.7,688.318) million which have been placed under non-
performing status as detailed below:-
2009 2008
Classified Provision Provision Classified Provision Provision
Advances Required Held Advances Required Held
Category of Classification

*Other Assets Especially Mentioned 36,870 - - - - -
Substandard 1,071,422 527,076 527,076 2,902,486 1,183,180 1,183,180
Doubtful 2,426,112 990,979 990,979 889,135 359,815 359,815
Loss 7,130,083 5,588,821 5,588,821 3,896,697 3,580,828 3,580,828
10,664,487 7,106,876 7,106,876 7,688,318 5,123,823 5,123,823

* This represents non-performing portfolio of agricultural financing classified as ‘Other Assets Especially Mentioned’ as per the
requirements of the Prudential Regulation for Agricultural Financing issued by SBP.
10.4 Particulars of provision against

non-performing advances
2009 2008
Note Specific General Total Specific General Total
Opening balance 5,123,823 506,487 5,630,310 3,384,750 579,000 3,963,750

Charge for the year 2,823,273 - 2,823,273 2,079,875 - 2,079,875
Reversals (270,246) (164,575) (434,821) (301,876) (72,513) (374,389)
2,553,027 (164,575) 2,388,452 1,777,999 (72,513) 1,705,486

Amounts written off 10.6 (569,974) - (569,974) (38,926) - (38,926)
Closing balance 7,106,876 341,912 7,448,788 5,123,823 506,487 5,630,310
10.4.1 Particulars of provisions against

non-performing advances

2009 2008
Specific General Total Specific General Total
In local currency 7,106,876 341,912 7,448,788 5,123,823 506,487 5,630,310

In foreign currencies - - - - - -
7,106,876 341,912 7,448,788 5,123,823 506,487 5,630,310
Note 2009 2008

Rupees in ‘000
10.5 Particulars of write offs:

10.5.1 Against provisions 10.4 569,974 38,926
Directly charged to profit and loss account 1,554,316 1,823,868
2,124,290 1,862,794

10.5.2 Write Offs of Rs. 500,000 and above 10.6 196,733 168,103
Write Offs of Below Rs. 500,000 1,927,557 1,694,691
2,124,290 1,862,794

10.6 Details of loan write-off of Rs. 500,000/- and above
In terms of sub-section (3) of Section 33A of the Banking Companies Ordinance, 1962 the Statement in respect
of written-off loans or any other financial relief of five hundred thousand rupees or above allowed to a person(s)
during the year ended December 31, 2009 is given in Annexure-1. However, this write off does not affect the
Bank’s right to recover debts from these customers.
2009 2008
Rupees in ‘000

10.7 Particulars of loans and advances
to Directors, Associated companies, etc.

Debts due by directors, executives or officers
of the bank or any of them either severally
or jointly with any other persons

Balance at beginning of the year 1,984,629 1,494,312
Loans granted during the year 883,847 1,119,752
Repayments (490,666) (629,435)
Balance at end of the year 2,377,810 1,984,629
2009 2008
Rupees in ‘000
Restated
Debts due by companies or firms in which the

directors of the bank are interested as directors,
partners or in the case of private companies as members

Balance at beginning of the year 477,680 225,366
Loans granted during the year 1,005,453 1,080,291
Repayments (1,415,998) (827,977)
Balance at end of the year 67,135 477,680

Note 2009 2008

Rupees in ‘000
11. OPERATING FIXED ASSETS

Capital work-in-progress 11.1 1,920 128,020
Property and equipment 11.2 4,369,075 4,464,679
Intangible assets 11.3 74,687 130,896
4,445,682 4,723,595

11.1 Capital work-in-progress

Civil works 1,920 -
Advances to suppliers and contractors - 128,020
1,920 128,020

11.2 Property and equipment

2009 Rupees in ‘000
Cost / Revaluation Accumulated Depreciation Net Book Value

At January 01 Additions/ Surplus on At December 31 At January 01 For the year / Revaluation At December 31 At December 31 Rate of
(Deletions)/ revaluation (on deletions) adjustment depreciation
(Adjustments) %
Owned
Land
- Freehold 799,425 - - 799,425 - - - - 799,425 -
- Leasehold 1,212,776 - - 1,212,776 - - - - 1,212,776 -

Buildings on
- Freehold land 287,480 3,177 - 290,657 3,605 12,786 - 16,391 274,266 2.5
- Leasehold land 662,799 - - 662,799 8,387 10,287 - 18,674 644,125 2.5

Furniture and fixtures 367,227 28,999 - 384,624 221,918 57,710 - 272,628 111,996 20
(11,602) (7,000)
Electrical, office and
computer equipment 1,553,943 366,180 - 1,912,968 772,543 300,630 - 1,067,377 845,591 20 - 33.33
(7,155) (5,796)
Motor vehicles 121,619 - - 75,447 76,161 18,009 - 52,601 22,846 20
(46,172) (41,569)
Alteration costs of rented
premises 808,333 21,121 - 802,273 266,309 86,162 - 344,223 458,050 10
(27,181) (8,248)

Total 5,813,602 419,477 - 6,140,969 1,348,923 485,584 - 1,771,894 4,369,075
(92,110) (62,613)
Cost / Revaluation Accumulated Depreciation Net Book Value

At January 01 Additions/ Surplus on At December 31 At January 01 For the year / Revaluation At December 31 At December 31 Rate of
(Deletions)/ revaluation (on deletions) adjustment depreciation
(Adjustments) %
Owned
Land
- Freehold 203,201 - 596,224 799,425 - - - - 799,425 -
- Leasehold 171,046 - 1,045,829 1,212,776 4,099 - (4,099) - 1,212,776 -
(4,099)*
Buildings on
- Freehold land 95,604 5,547 205,725 287,480 18,431 4,570 (19,396) 3,605 283,875 2.5
(19,396)*
- Leasehold land 776,116 - 18,966 662,799 124,133 16,537 (132,283) 8,387 654,412 2.5
(132,283)*
Furniture and fixtures 354,026 39,967 - 367,227 180,542 57,164 - 221,918 145,309 20
(26,766) (15,788)
Electrical, office and
computer equipment 1,435,587 365,601 - 1,553,943 776,609 232,089 - 772,543 781,400 20 - 33.33
(247,245) (236,155)
Motor vehicles 131,106 21,760 - 121,619 68,851 22,949 - 76,161 45,458 20
(31,247) (15,639)
Alteration costs of rented
premises 871,071 93,179 - 808,333 280,263 83,880 - 266,309 542,024 10
(155,917) (97,834)

Total 4,037,757 526,054 1,866,744 5,813,602 1,452,928 417,189 (155,778) 1,348,923 4,464,679
(461,175) (365,416)
(155,778)* -
* These represents revaluation adjustments.
11.2.1 The gross carrying value of fully depreciated assets still in use amounted to Rs. 627.930 (2008: Rs. 424.554) million.

11.2.2 The fair value of other fixed assets is not materially different from their carrying amount.

11.2.3 No fixed assets (2008:Rs. Nil) have been written off during the year.

11.2.4 Effect in the current year on profit and loss account due to incremental depreciation on revaluation surplus of
building is Rs. 5.618 (2008: 2.809) million.
11.2.5 Last year the properties of the bank were revalued by independent professional valuer M/s. Iqbal A. Nanjee &
Co., on the basis of professional assessment of present market value. The revaluation resulted in net increase in
the carrying values of the properties by Rs. 1,859.300 million (2008: Rs 1,864.918 million). Had there been no
revaluation, the carrying amount of revalued assets would have been as follows:
2009 2008
Rupees in ‘000
- Freehold land 203,201 203,201

- Leasehold land 166,947 166,947
- Building on freehold land 76,256 66,191
- Building on leasehold land 625,870 651,983

11.3 Intangible assets
Cost Amortisation Net Book Value
At January 01 Additions At December 31 At January 01 For the/ At December 31 At December 31 Rate of
year Amortisation
%
Computer software 292,474 14,076 306,550 161,578 70,285 231,863 74,687 33.33

Cost Amortisation Net Book Value
At January 01 Additions/ At December 31 At January 01 For the/ At December 31 At December 31 Rate of
(Deletions) year Amortisation
%
Computer software 234,756 99,192 292,474 146,541 56,511 161,578 130,896 33.33
(41,474) (41,474)
Total 234,756 99,192 292,474 146,541 56,511 161,578 130,896
(41,474) (41,474)
11.3.1 The gross carrying value of fully amortized assets still in use amounted to Rs.136.491 (2008: Rs.136.491) million.

11.4 Disposal of fixed assets during the year

11.4.1 The following fixed assets, having cost above one million rupees or book value above two hundred and fifty
thousand rupees which ever is lower, were sold to persons other than the bank’s executives during the year ended
December 31, 2009.
Rupees in ‘000
Net book Sales Mode Particulars
Asset Cost value proceeds of disposal of buyers

Vehicle 1,320 88 1,031 Tender Mr. Muhammad Akram Khan, Karachi
Vehicle 1,028 154 927 Tender Mr. Mohammad Akram Khan, Karachi
Vehicle 1,018 - 781 Tender Mr Javed Zakaria, Karachi
Vehicle 1,319 44 960 Tender Mr. Tahir Gul, Karachi
Vehicle 1,299 22 976 Tender Mr. Tahir Gul, Karachi
Vehicle 1,004 - 778 Tender Mr. Tahir Gul, Karachi
Vehicle 1,053 - 550 Tender Mr. Tahir Gul, Karachi
Vehicle 2,643 - 757 Tender M/s Habibullah Associates, Karachi
Vehicle 1,319 154 927 Tender Mr. Mohammad Yousuf, Karachi
Vehicle 1,353 - 719 Tender M/s Auto Scan, Lahore
Vehicle 1,015 - 804 Tender M/s Auto Scan, Lahore
Vehicle 1,035 - 822 Tender Mr. Raheel Mithani, Karachi
Vehicle 1,027 - 863 Tender Mr. Raheel Mithani, Karachi
Vehicle 1,068 196 913 Tender Mr. Imran Shiekh, Karachi
Vehicle 1,049 - 741 Tender Mr. Liaquat Ali Khan, Islamabad
Vehicle 1,070 184 907 Tender Mr. Mohammad Zakir Ayub, Karachi
Vehicle 1,361 317 957 Tender Mr. Mohammad Zakir Ayub, Karachi

Items having book
value of less than
Rs. 250,000 and
cost of less than
Rs. 1,000,000 61,633 26,623 21,040
82,614 27,782 35,452

The following fixed assets were disposed off to the bank’s executives during the year as per the terms of employment:
Rupees in ‘000
Net book Sales
Asset Cost value proceeds Mode of disposal Particulars of buyers
Vehicle 1,196 60 600 HR Policy Mr. Salman Malik

Vehicle 4,000 867 2,000 HR Policy Mr. Faisal Anwar
Vehicle 4,000 733 2,000 HR Policy Mr. Naim Abdullah
Equipment 300 55 60 HR Policy Mr. Kafeel A Khan
9,496 1,715 4,660

Total 92,110 29,497 40,112
Note 2009 2008

Rupees in ‘000
12. DEFERRED TAX ASSETS
Deferred tax debits arising in respect of:

Provision against non-performing advances 12.1 1,925,687 1,357,987
Unused tax losses - 504,954
Minimum tax on turnover 71,863 41,000
Deficit on revaluation of securities 21.2 (42,611) 4,386
1,954,939 1,908,327
Deferred tax credits arising due to:
Differences between accounting and tax written down values (292,016) (339,812)
Surplus on revaluation of fixed assets (75,693) (77,659)
(367,709) (417,471)
1,587,230 1,490,856

12.1 Through Finance Act 2007, a new section 100A and the Seventh Schedule (the Schedule) were inserted in the
Income Tax Ordinance, 2001 governing taxation of banking companies. The Schedule seeks to simplify the taxation
of banking companies and is applicable from the tax year 2009 (financial year ended on December 31, 2008).
The Finance Act, 2009 has made significant amendments in the Schedule. Through these amendments dedcution
of provision for advances and off balance sheet items will be allowed upto 1% of total advances. The amendments
do not contain transitory provisions to deal with the disallowances made upto the year ended December 31,
2007. This matter has been taken up with the tax authorities through Pakistan Banks’ Association for formulation
of transitory provisions to deal with the items which were previously treated differently under the then applicable
provisions. Accordingly, deferred tax assets have been taken on the deductible temporary differences upto the
said income year.
13. OTHER ASSETS Note 2009 2008

Rupees in ‘000
Income/ mark-up accrued in local currency 1,631,768 2,364,082

Income/ mark-up accrued in foreign currency 22,803 33,519
Advances, deposits, advance rent and other prepayments 372,246 471,379
Non-banking assets acquired in satisfaction of claims 13.1 13,000 13,000
Stationery and stamp paper 5,165 4,280
Others 550,955 310,097
2,595,937 3,196,357

Less: Provision held against other assets 13.2 (110,051) (101,978)
Other Assets (net of provision) 2,485,886 3,094,379


Note 2009 2008
Rupees in ‘000
13.1 Market value of non-banking assets acquired in satisfaction of claims
(As per valuation report dated May 5, 2008) 20,570 20,570
13.2 Provision against other assets

Reversals (23,953) (22,093)

14. CONTINGENT ASSET

There were no contingent assets as at December 31, 2009 (2008: Nil).

15. BILLS PAYABLE

In Pakistan 1,157,786 1,651,515
Outside Pakistan 72,462 80,005
1,230,248 1,731,520

16. BORROWINGS

In Pakistan 11,372,358 7,902,418
Outside Pakistan - 293,355
11,372,358 8,195,773

16.1 Particulars of borrowings with respect to currencies

In local currency 11,372,358 7,902,418
In foreign currencies - 293,355
11,372,358 8,195,773

16.2 Details of borrowings secured / unsecured

Secured
Borrowings from State Bank of Pakistan
Under export refinance scheme 16.2.1 4,787,080 4,605,840
Long term financing of export oriented projects 16.2.1 504,446 499,536
Repurchase agreement borrowings 16.2.2 5,470,698 983,462
10,762,224 6,088,838
Unsecured
Call borrowings 16.2.3 600,000 1,800,000
Overdrawn nostro and other accounts 10,134 306,935
610,134 2,106,935
11,372,358 8,195,773
16.2.1 These are secured against promissory notes, export documents and undertaking of the Bank by granting the right
to State Bank of Pakistan (SBP) to recover the outstanding amount from the Bank at the date of maturity of the
finance by directly debiting the current account maintained with the SBP. The mark-up rate on these borrowings is
4.0% to 7.0% (2008: 5.0% to 6.5%) per annum, payable quarterly or upon maturity of loans, whichever is earlier.

16.2.2 These represent borrowings from various financial institutions against repurchase agreements at mark-up rates
ranging from 11.25% to 12.51% (2008: 11% to 11.50%) per annum, with maturities up to January 06, 2010.

16.2.3 These represent call borrowings from financial institutions, carrying mark-up at rates, ranging from 12.13% to
12.50% (2008:8.75% to 15.75%) per annum, with maturities up to January 30, 2010.

2009 2008
Rupees in ‘000
17. DEPOSITS AND OTHER ACCOUNTS
Customers
Fixed deposits 27,771,221 37,810,060
Savings deposits 19,486,221 23,578,740
Current Accounts - Non-remunerative 14,975,910 16,164,094
Margin Accounts 571,204 1,003,376
62,804,556 78,556,270
Financial Institutions
Remunerative deposits 670,434 420,204
Non-remunerative deposits 160,852 126,231
831,286 546,435
63,635,842 79,102,705

17.1 Particulars of deposits

In local currency 51,282,495 66,052,895
In foreign currencies 12,353,347 13,049,810
63,635,842 79,102,705

18. SUBORDINATED LOAN
This represents the balance payable on the subordinated Term Finance Certificates, issued for a total amount
of Rs.800 million and is listed on the Lahore Stock Exchange. The instrument is unsecured, subordinated as to
the payment of principal and profit to all other indebtedness of the Bank (including depositors) and is not
redeemable before maturity without prior approval of the State Bank of Pakistan. The rate of profit is based on a
floating rate “Base Rate” of six months KIBOR plus 1.9% per annum and will be paid semi-annually, with no floor
and ceiling. The floating rate “Base Rate” for the profit due at the end of first semi-annual period will be set a day
preceding the Issue date and for subsequent semi-annual periods on the immediately preceding date before the
start of each six months period for the profit due at the end of that semi-annual period. During the year principal
amounting to Rs.0.320 (2008: Rs.0.320) million was redeemed, however, major redemptions will commence from
February 2010.
Note 2009 2008

Rupees in ‘000

19. OTHER LIABILITIES

Mark-up/ Return/ Interest payable in local currency 676,888 897,481
Mark-up/ Return/ Interest payable in foreign currency 1,212 18,863
Unearned commission and income on bills discounted 52,586 89,135
Accrued expenses 579,759 389,249
Advance payments 12,909 18,257
Current taxation - net (provisions less payments) 336,761 973,473
Unclaimed dividend 6,036 6,071
Payable to defined benefit plan 35.3 9,162 19,548
Unrealized loss on forward foreign exchange contracts 89,652 34,061
Fair Value of interest rate derivative contracts 4,641,751 4,712,206
Security deposits against finance lease 148,715 198,618
Trading liability 676,106 -
Others 364,350 851,871
7,595,887 8,208,833

2009 2008
Rupees in ‘000
20. SHARE CAPITAL
20.1 Authorized
2009 2008
Number of shares
2,300,000,000 2,300,000,000 Ordinary shares of Rs.10 each 23,000,000 23,000,000
20.2 Issued, subscribed and paid up

2009 2008
Number of shares
515,647,284 145,102,278 Ordinary shares of Rs. 10 each fully paid in cash 5,156,473 1,451,023

Ordinary shares of Rs. 10 each
128,834,891 128,834,891 issued as fully paid bonus shares 1,288,349 1,288,349

Ordinary shares of Rs. 10 each issued pursuant
1,073,499,216 1,073,499,216 to the Scheme of Amalgamation 10,734,992 10,734,992
1,717,981,391 1,347,436,385 17,179,814 13,474,364
20.2.1 As at December 31, 2009, ABN AMRO Bank N.V., the parent company, held 1,707,107,891 (99.37%) Ordinary
shares [2008: 1,336,926,381 (99.22%)] of the Bank.
20.3 Movement in issued, subscribed and paid up capital during the year

2009 2008 2009 2008
Number of shares Rupees in ‘000
1,347,436,385 1,347,436,385 At January 1 13,474,364 13,474,364

Ordinary shares of Rs. 10 each issued during
370,545,006 - the year ended as fully paid right shares 3,705,450 -

1,717,981,391 1,347,436,385 At December 31 17,179,814 13,474,364

21. SURPLUS ON REVALUATION OF ASSETS - net of tax

Fixed assets 21.1 1,783,607 1,787,259
Securities 21.2 84,646 (8,517)
1,868,253 1,778,742
21.1 Surplus on revaluation of fixed assets

Surplus on revaluation of fixed assets at January 1 1,864,918 -
Surplus on revaluation of fixed assets booked during the year - 1,866,744
Transferred to unappropriated profit in respect of incremental
depreciation charged during the year (3,652) (2,809)
Related deferred tax liability charged during the year (1,966) 983
1,859,300 1,864,918
Less: Related deferred tax liability on:
Revaluation as on January 1 77,659 -
Revaluation of fixed assets during the year - 78,642
Incremental depreciation charged during the year transferred
to profit and loss account (1,966) (983)
75,693 77,659
1,783,607 1,787,259


2009 2008
Rupees in ‘000
21.2 Surplus / (Deficit) on revaluation of available-for-sale securities

Federal Government Securities 119,543 (12,382)
Quoted Shares 9,155 (521)
Other Securities (1,441) -
127,257 (12,903)
Less: Related deferred tax (liability) / asset (42,611) 4,386
84,646 (8,517)
22. CONTINGENCIES AND COMMITMENTS

22.1 Direct Credit Substitutes
Including guarantees and standby letters of credit serving as financial

guarantees for loans and securities

(i) Government - -
(ii) Financial Institutions - -
(iii) Others 1,363,063 1,847,244
1,363,063 1,847,244
22.2 Transaction-related Contingent Liabilities

Including performance bonds, bid bonds, warranties, advance
payment guarantees, shipping guarantees and standby letters
of credit related to particular transactions

(i) Government - 187,030
(ii) Financial Institutions 6,765,447 9,973,905
(iii) Others 3,812,264 4,792,978
10,577,711 14,953,913
22.3 Trade-related Contingent Liabilities

Letters of credit 2,617,103 13,768,699
22.4 Tax Contingencies
The income tax returns of the Bank have been submitted upto the tax year 2009. In assessing the taxable income
of prior years, the Income Tax Department had disallowed provisions against non-performing advances and made
certain other add backs against which the Bank had filed appeals in the Income Tax Appellate Tribunal (ITAT).
These cases were decided in favour of the Bank by CIT and ITAT. However, the Income Tax Department has filed
appeals in the High Court and in case of adverse outcome in the High Court, a liability amounting to Rs. 443
million may arise.
22.5 Commitments in respect of forward lending

The Bank makes commitments to extend credit in the normal course of its business but none of these commitments
are irrevocable and do not attract any significant penalty or expense if the facility is unilaterally withdrawn.


2009 2008
Rupees in ‘000
22.6 Commitments in respect of forward exchange contracts

Purchase 46,014,898 45,819,801

Sale 12,705,878 19,986,494

22.7 Commitments for the acquisition of operating fixed assets 1,280 54,866

22.8 Other commitments
Interest rate and foreign currency derivative contracts (notional) 78,667,516 79,428,271

23. DERIVATIVE INSTRUMENTS
The Bank is an Authorized Derivative Dealer (“ADD”) of the SBP. The purpose of the derivative business of the Bank
is to provide risk solutions for the clients of the Bank and to hedge and manage the risks in its own books. The Bank
currently deals in Interest Rate and Cross Currency derivatives with clients.
The Bank’s Group Risk Management (GRM) function is independent from the Business Line. GRM reviews Credit
Risks, Market Risks and other risks associated with a transaction or area of activity and assigns Limits within which
the transaction / area of activity can be carried out. Adherence to these Limits is ensured through independent
Monitoring and Control functions.
Derivative Risk Management

There are a number of risks undertaken by the Bank, which need to be monitored and assessed. Major risks
associated with derivatives are market risk and credit risk. The Bank uses internal models to measure and manage
these risks.
Market Risks

The authority for approving policies and limits rests with GRM, via the Global Risk Committee (GRC). Limit approval
process is further delegated to specialized Risk Management Committees (RMC) by the GRC. For each location’s
derivatives business, the relevant committee approves limits and products, as well as reviews the activity through
periodic portfolio reviews. The most important measures used to manage market risks are Delta, Value at Risk and
OCP. These measures are calculated through the relevant systems.
Credit Risk

There are two types of credit risk (Settlement and Pre-Settlement risk) that are associated with derivatives
transactions and monitored on a regular basis. GRM sets the policies and limits for counterparty risk based on
internal ratings model. The significant measures used to manage credit risk are MDDR and OBSI respectively.
Liquidity Risk

Liquidity risk is managed as part of the overall liquidity risk of the Bank.

Asset and Liability Management

The business line follows its business plans and profit targets while managing exposures within the pre-approved
limits. The local trading desk works under guidance of the Regional Trading desk of RBS.
The Trading desk closes its cash positions with the Banking book. The asset and liability implications of derivatives
business are therefore managed within the overall asset and liability management limits.


23.1 Product Analysis
2009 2008
Interest Rate and Interest Rate and
Cross Currency Swaps Cross Currency Swaps
Counterparties No. of Notional No. of Notional
Contracts Principal Contracts Principal
Rs. in ‘000 Rs. in ‘000
With Banks for

Hedging 41 28,151,344 30 30,600,235
Market Making - - - -
With other entities for

Hedging - - - -
Market Making 94 50,516,172 70 48,828,037
Total
Hedging 41 28,151,344 30 30,600,235
Market Making 94 50,516,172 70 48,828,037
135 78,667,516 100 79,428,272

23.2 Maturity Analysis

Interest Rate Swaps and Cross Currency Swaps
2009
Remaining No. of Notional Mark to Market
Maturity Contracts Principal Negative Positive Net
Rupees in ‘000
Upto I month - - - - -
1 to 3 months - - - - -
3 to 6 months 4 1,073,238 (5,617) 16,416 10,799
6 month to 1 Year 5 3,515,652 (440,448) - (440,448)
1 to 2 Year 29 8,755,103 (1,409,416) 264,559 (1,144,857)
2 to 3 Years 23 6,589,636 (587,685) 79,513 (508,172)
3 to 5 Years 60 51,615,713 (3,421,272) 202,548 (3,218,724)
5 to 10 years 14 7,118,174 - 659,651 659,651
135 78,667,516 (5,864,438) 1,222,687 (4,641,751)
2008
Remaining No. of Notional Mark to Market
Maturity Contracts Principal Negative Positive Net
Rupees in ‘000
Upto I month - - - - -
1 to 3 months 2 858,962 (866,508) 762,595 (103,913)
3 to 6 months - - - - -
6 month to 1 Year 5 5,060,297 (41,808) 27,657 (14,151)
1 to 2 Year 8 5,595,264 (405,045) 157,191 (247,854)
2 to 3 Years 28 11,623,645 (1,635,551) 437,434 (1,198,117)
3 to 5 Years 42 19,819,959 (2,224,451) 210,766 (2,013,685)
5 to 10 years 15 36,470,145 (1,445,156) 310,670 (1,134,486)
100 79,428,272 (6,618,519) 1,906,313 (4,712,206)

2009 2008
Rupees in ‘000
24. MARK-UP / RETURN / INTEREST EARNED

On loans and advances to:
Customers 8,325,086 9,030,223
Financial Institutions 36,648 51,067

On Investments in:
Held for Trading Securities 72,816 7,262
Available for sale securities 2,960,015 1,409,414
3,032,831 1,416,676

On deposits with financial institutions 45,724 171,433
On securities purchased under resale agreements 143,111 820,487
11,583,400 11,489,886
25. MARK-UP / RETURN / INTEREST EXPENSED

Deposits 4,833,122 4,551,546
Securities sold under repurchase agreements 159,236 161,559
Other short term borrowings 1,246,141 799,259
Long term borrowings 147,346 135,641
6,385,845 5,648,005
26. GAIN / (LOSS) ON SALE OF SECURITIES

Federal Government Securities
Market treasury bills 32,009 1,052
Pakistan investment bonds 87,011 (13,248)
119,020 (12,196)
27. OTHER INCOME

Rental income 7,545 17,988
Gain / (Loss) on sale of operating fixed assets 10,615 (64,818)
Income on interest rate and cross currency derivatives contracts 984,035 1,221,710
Others 18,031 3,193
1,020,226 1,178,073

Note 2009 2008
Rupees in ‘000
(Restated)
28. ADMINISTRATIVE EXPENSES
Salaries, allowances, etc. 2,890,682 3,237,232

Charge for defined benefit plan - gratuity 35.5 92,381 89,676
Contribution to defined contribution plan - provident fund 89,948 96,514
Non-executive directors’ fees, allowances and other expenses 2,601 2,245
Rent, taxes, insurance, electricity, etc. 596,117 636,885
Legal and professional charges 39,424 59,328
Communications 336,664 439,770
Repairs and maintenance 457,622 409,306
Commission and brokerage 15,090 7,864
Stationery and printing 90,850 191,230
Advertisement and publicity 151,038 280,361
Auditors’ remuneration 28.1 10,225 6,556
Depreciation 11.2 485,584 417,189
Amortization 11.3 70,285 56,511
Staff training 7,288 25,037
Travel expenses 42,622 101,618
Sundry automation expenses 30,953 39,812
Others 387,281 423,629
5,796,655 6,520,763

2009 2008
Rupees in ‘000
28.1 Auditors’ remuneration

Audit fee 2,500 2,200
Special certifications, foreign reporting, half yearly review
and sundry advisory services 7,125 3,800
Out-of-pocket expenses 600 556
10,225 6,556

2009 2008
Rupees in ‘000
(Restated)
29. OTHER PROVISIONS / WRITE-OFFS

Provision against other assets (net of reversals) 8,073 30,362

Note 2009 2008
Rupees in ‘000
30. OTHER CHARGES

Penalties imposed by State Bank of Pakistan 112,987 402
Other operational losses 22,816 12,208
135,803 12,610
31. TAXATION

For the year
Current 72,037 1,064,870
Deferred (144,356) (1,193,768)
(72,319) (128,898)
For prior years (487,900) 88,000

(560,219) (40,898)

31.1 Relationship between tax expense and accounting loss

Loss before taxation (1,898,273) (558,557)

Tax at the applicable tax rate of 35% (2008: 35%) (664,395) (195,495)
Tax effect of items that are not included in
determining taxable profit 520,039 52,641
Tax effect of income chargeable at lower rate 174 177
Minimum Tax on Turnover 71,863 -
Tax effect of prior year adjustments 31.1.1 (487,900) 88,000
Others - 13,779
Net tax (reversal) / charge for the year (560,219) (40,898)
31.1.1 These include reversal of tax liability for the year ended December 31, 2008 (tax year 2009) on the basis of
changes introduced in Seventh Schedule to Income Tax Ordinance 2001 through Finance Act 2009.

2009 2008
Rupees in ‘000
32. EARNINGS PER SHARE - BASIC AND DILUTED

Loss for the year (1,338,054) (517,659)

Number in ‘000
(Restated)
Weighted average number of Ordinary shares 1,672,017 1,382,438

Rupee Rupees
(Restated)
Earnings per share - basic and diluted (0.80) (0.38)

2009 2008
Rupees in ‘000

33. CASH AND CASH EQUIVALENTS

Cash and Balance with Treasury Banks 6 6,456,119 8,578,315
Balance with other banks 7 1,803,273 1,528,817
Overdrawn nostro and other accounts 16.2 (10,134) (306,935)
8,249,258 9,800,197

2009 2008
Number

34. STAFF STRENGTH

Permanent 1,640 1,858
Temporary/on contractual basis 3 2
Bank’s own staff strength at end of the year 1,643 1,860
Out sourced 1,514 2,199
Total Staff Strength 3,157 4,059

35. DEFINED BENEFIT PLAN

35.1 General description

Benefits under the defined benefit plan (i.e. gratuity) are payable to all confirmed employees, totaling 1,643
(2008:1,860), on retirement at the age of 60 years or earlier cessation of service, in lump sum. The benefit is equal
to one month’s last drawn basic salary for each year of eligible service or part thereof, subject to minimum of five
years service.

The latest actuarial valuation was carried out using the “Projected Unit Credit Actuarial Cost method” as at
December 31, 2009.


2009 2008
35.2 Principal actuarial assumptions

The principal actuarial assumptions used as at the balance sheet date are:
Discount rate 12.75% 15%

Expected rate of return on plan assets 12.75% 15%
Expected long term salary increase rate 12.75% 15%

2009 2008
Rupees in ‘000
35.3 Reconciliation of payable to defined benefit plan
Present value of defined benefit obligations 435,612 397,704

Fair value of plan assets (333,445) (260,545)
Net actuarial gains or losses not recognized (93,005) (117,611)
9,162 19,548

35.4 Movement in payable to defined benefit plan

Adjusment (8,393) -
Contribution to fund made during the year (94,374) (85,500)

35.5 Charge for defined benefit plan

Current service cost 67,095 58,805
Interest cost 61,916 43,186
Expected return on plan assets (42,618) (28,371)
Past service cost - 9,693
Amortization of actuarial loss 5,988 6,363
92,381 89,676

35.6 Actual return / (loss) on plan assets 21,370 (3,513)

35.7 Movement in the present value of defined benefit obligation

Current service cost 67,095 58,804
Interest cost 61,916 43,186
Actuarial gain on obligation (41,950) (61,604)
Benefits paid during the year (49,153) (56,500)

35.8 Movement in fair value of plan assets

Expected return on plan assets 42,618 28,372
Actuarial loss on plan assets (14,940) (55,111)
Contribution for the year 94,374 85,500
Benefits paid during the year (49,153) (56,500)

35.9 Five year data on surplus / deficit of the plan and experience adjustments

2009 2008 2007 2006 2005
Rupees in ‘000
Present value of defined

benefit obligation 435,614 397,704 413,818 274,027 203,147
Fair value of plan assets 333,445 260,546 258,285 214,825 179,967
Deficit 102,169 137,158 155,533 59,202 23,180

Experience gain / (loss) on obligation 41,950 61,604 (63,840) (31,858) (5,271)

Experience (loss) / gain on plan assets (14,940) (55,111) (2,588) (8,057) 5,794

35.10 Composition of fair value of plan assets
2009 2008

Debt Instruments 84,598 25% 107,089 41%
Mutual Fund investments and cash at bank 248,846 75% 153,457 59%
Fair Value of total plan assets 333,444 100% 260,546 100%
36. DEFINED CONTRIBUTION PLAN

The Bank operates an approved funded provident fund scheme for all permanent employees, totaling 1,643 (2008:
1,860), administered by a Board of Trustees. Equal monthly contributions are made by the Bank and its employees
to the fund at the rate of 10% (2008: 10%) per annum of the basic salaries of the employees.
37. COMPENSATION OF CHIEF EXECUTIVE AND EXECUTIVES
President/
Directors Executives
Chief Executive
2009 2008 2009 2008 2009 2008
Rupees in ‘000
Managerial remuneration 48,430 44,758 - - 556,607 655,999

Cash settled share based payments - - - - 6,422 3,159
Charge for defined benefit plan 1,399 1,363 - - 45,153 35,003
Contribution to defined contribution plan 1,680 1,636 - - 54,205 42,020
Rent and house maintenance 6,720 5,459 - - 235,088 178,520
Utilities 1,680 1,415 - - 54,732 42,434
Medical - 23 - - 12,900 8,954
Fee - - 2,601 2,245 - -
Others - 306 - - 342,290 200,873
59,909 54,960 2,601 2,245 1,307,397 1,166,962

Number of persons 1 2 7 7 465 357
37.1 Executive means employee, other than the Chief Executive and directors, whose basic salary exceeds five hundred
thousand rupees in a financial year. The Chief Executive and executives are provided with free use of company
maintained cars in accordance with their entitlements.


38. FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable
willing parties in an arm’s length transaction. Consequently differences can arise between carrying values and the
fair values and the fair value estimates.
Underlying the definition of fair value is the presumption that the Bank is a going concern without any intention or
requirement to curtail materially the scale of its operations or to undertake a transaction on adverse terms.
The fair value of investments in Term Finance Certificates and Federal Government securities are based on quoted
market prices and PKRV rates, respectively. Fair value of unquoted equity investments is determined on the basis
of lower of cost and breakup value of these investments as per the latest available financial statements.
Fair value of fixed term loans, other assets, other liabilities, fixed term deposits, cannot be calculated with sufficient
reliability due to absence of current and active market for such assets and liabilities and reliable data regarding
market rates for similar instruments. The provision for non-performing advances has been calculated in accordance
with the Bank’s accounting policy as stated in note 5.4.
The maturity and repricing profile and effective rates are stated in notes 43.3.2 and 43.4.1, respectively.

In the opinion of the management, the fair value of the remaining financial assets and liabilities are not significantly
different from their carrying values since assets and liabilities are either short term in nature or, in the case of
customer loans and deposits, are frequently repriced.

39. SEGMENT DETAILS WITH RESPECT TO BUSINESS ACTIVITIES

The segment analysis with respect to business activity is as follows:-

2009
Corporate Trading & Retail Commercial Agency
Finance Sales Banking Banking Services Total
Rupees in ‘000

Total income (net of interest expense) 18,490 3,143,110 3,392,000 1,411,000 22,213 7,986,813
Administrative and other expenses 12,436 183,240 6,558,217 3,131,193 - 9,885,086
Net income / (loss) 6,054 2,959,870 (3,166,217) (1,720,193) 22,213 (1,898,273)
Segment assets (gross) - 36,439,833 23,089,589 41,467,074 - 100,996,496
Segment non performing loans - - 2,051,520 8,612,967 - 10,664,487
Segment provision required - 9,932 1,456,105 6,092,802 - 7,558,839
Segment liabilities - 17,585,074 49,741,235 17,306,586 - 84,632,895
Segment return on assets (ROA) (%) 8.63% 14.69% 3.40%
Segment Cost of funds (%) 3.59% 6.49% 6.15%

2008
Corporate Trading & Retail Commercial Agency
Finance Sales Banking Banking Services Total
Rupees in ‘000
(Restated)

Total income (net of interest expense) 97,808 2,795,712 4,512,599 2,164,202 24,562 9,594,883
Administrative and other expenses 13,950 277,639 6,959,484 2,902,367 - 10,153,440
Net income / (loss) 83,858 2,518,073 (2,446,885) (738,165) 24,562 (558,557)
Segment assets (gross) - 30,907,053 29,546,072 53,371,578 - 113,824,703
Segment non performing loans - - 1,912,983 5,775,335 - 7,688,318
Segment provision required - 9,932 1,490,061 4,232,295 - 5,732,288
Segment liabilities - 13,765,854 59,417,960 24,853,897 - 98,037,711
Segment return on assets (ROA) (%) 9.05% 15.27% 4.05%
Segment cost of funds (%) 3.40% 4.15% 5.04%


40. TRUST ACTIVITIES

The bank is not engaged in any significant trust activity.

41. RELATED PARTY TRANSACTIONS

Related parties comprise the parent company and group companies outside Pakistan, retirement benefit plans,
directors and key management personnel of the Bank. These transactions were made on substantially the same
commercial terms as those prevailing at the time for comparable transactions with unrelated parties and did not
involve more than a normal amount of risk. There were no transactions with the key management personnel other
than those under the terms of their employment.

Detail of transaction with the related parties, other than those which have been disclosed elsewhere in these
financial statements, are as follows:

2009 2008
Rupees in ‘000
Key management personnel

Advances
As at January 01 82,487 48,344
Given during the year 74,373 92,024
Repaid during the year (62,374) (57,881)
As at December 31 94,486 82,487

Deposits
As at January 01 58,758 103,952
Received during the year 73,211 1,881,838
Withdrawn during the year (113,091) (1,927,032)
As at December 31 18,878 58,758

Mark-up / return / interest earned 648 2,489

Mark-up / return / interest expensed 1,449 827

Retirement benefit plans

Deposits 708,025 117,894

Balances with parent company and group companies
outside Pakistan as at December 31

Deposits and other balances taken 76,687 75,405
Deposits and other balances placed 1,555,135 1,346,448
Overdrawn nostros 72,462 293,355
Guarantees issued favoring related parties or on their behalf 5,512,344 8,749,426
Other contingencies and commitments 43,073,988 54,353,034

The income and expense in respect of related parties, other than
key management personnel, included in the financial statements
are as follows:

Mark-up / return / interest earned 17,072 337,530
Mark-up / return / interest expensed - 14,555

42. CAPITAL ASSESSMENT AND ADEQUACY
42.1 Scope of Applications

The Basel II Framework as prescribed by the SBP is applicable to the bank in the assessment of its capital
adequacy requirement.

42.2 Capital Structure

The Bank’s regulatory capital is analyzed into two tiers.

Tier 1 capital, which includes fully issued, subscribed and paid up capital, advance against subscription for right
shares, reserves as per the financial statements and net un-appropriated profits/accumulated losses, etc after
deductions for deficit on revaluation of available for sale investments and intangible assets.

Tier 2 capital, which includes unsecured subordinated Term Finance Certificates, general provisions for loan
losses (up to a maximum of 1.25 % of risk weighted assets), reserves on the revaluation of fixed assets and equity
investments (up to a maximum of 45 % of the balance in the related revaluation reserves) and subordinated debt
(up to a maximum of 50 %).  

Tier 3 capital has also been prescribed by the SBP for managing market risk; however, the bank does not have any
Tier 3 capital.

The required capital is achieved by the bank through:

(a)    enhancement in the risk profile of asset mix at the existing volume level;

(b)   ensuring better recovery management; and

(c)    maintain acceptable profit margins.
Note 2009 2008
Rupees in ‘000
Regulatory Capital Base

Tier I Capital
Shareholders capital 20 17,179,814 13,474,364
Advance against issue of right shares - 3,705,450
Reserves (6,395,647) (6,395,647)
Accumulated loss (3,847,658) (2,508,205)
6,936,509 8,275,962
Less: Intangible assets (computer software) 11.3 (74,687) (130,896)
Deficit on account of revaluation of investments
held in AFS category 21.2 - (8,517)
Total Tier I Capital 6,861,822 8,136,549

Tier II Capital
Subordinated Debt (upto 50% of Total Tier I Capital) 479,136 639,104
General Provisions subject to 1.25% of Total Risk
Weighted Assets 10.4 341,912 506,487
Revaluation Reserve (upto 45%) 802,181 804,646
Total Tier II Capital 1,623,229 1,950,237

Eligible Tier III Capital - -
Total Regulatory Capital Base 8,485,051 10,086,786


42.3 Capital Adequacy

Objectives of Managing Capital

Capital Management aims to ensure that there is sufficient capital to meet the capital requirements of the Bank
as determined by the underlying business strategy and the minimum requirements of the SBP. The Capital
Management process is governed by the Bank’s Asset & Liability Committee (ALCO). ALCO is responsible for
managing Bank’s capital position vis-à-vis internal as well as regulatory requirements. ALCO also reviews the
volume and mix of the Bank’s assets, liabilities and funding sources in light of liquidity, capital, risk and profitability
considerations.

Banks capital management seeks:

- to comply with the capital requirements set by the regulators and comparable to the peers;
- to improve the liquidity of the bank’s assets to allow for an optimal deployment of the bank’s resources;
- to protect the bank against unexpected events and maintain strong ratings;
- to safeguard the bank’s ability to continue as a going concern so that it can continue to provide adequate
return to shareholders;

- availability of adequate capital (including the quantum) at a reasonable cost so as to enable the bank to
expand; and
- to achieve low overall cost of capital with appropriate mix of capital elements.

Externally Imposed Capital Requirements

In order to strengthen the solvency of Banks / Development Financial Institutions (DFI), SBP through its BSD
Circular No. 07 of 2009 dated April 15, 2009 has asked the Banks to raise their minimum paid up capital to Rs.
6 billion by the end of financial year 2009. Further, banks are required to increase their minimum paid up capital
to Rs. 10 billion in a phased manner by the end of financial year 2013. The Bank has at present a paid-up capital
(free of losses) amounting to Rs. 6.937 billion which has to be raised by the Bank to the above-mentioned level in
a phased manner.
SBP through its BSD Circular No. 07 of 2009 dated April 15, 2009 has asked banks to achieve the minimum Capital
Adequacy Ratio (CAR) of 10% latest by December 31, 2009. The capital adequacy ratio (CAR) of the Bank stands
at 11.96% of its risk weighted exposures as at December 31, 2009.

42.4 Risk-Weighted Exposures
2009 2008
Capital Risk Weighted Capital Risk Weighted
Requirements Assets Requirements Assets
Rupees in ‘000

Credit Risk
Bank exposure 165,073 1,650,728 221,385 2,767,309
Corporate exposure 2,649,839 26,498,392 3,041,772 38,022,149
Retail exposure 1,411,912 14,119,117 1,483,197 18,539,958
Residential mortgage exposure 156,296 1,562,959 149,321 1,866,514
Exposure for other assets 848,534 8,485,341 747,893 9,348,666
Total Credit Risk (A) 5,231,654 52,316,537 5,643,568 70,544,596

Market Risk
Interest Rate Risk 154,900 1,936,244 76,633 957,913
Equity Position Risk - - - -
Foreign Exchange Risk 24,391 304,883 29,727 371,588
Option Transactions - - - -
Total Market Risk (B) 179,291 2,241,127 106,360 1,329,501

Operational Risk (C) 1,311,650 16,395,625 1,161,800 14,522,500

TOTAL of A + B + C 70,953,289 86,396,597

Capital Adequacy Ratio

Total regulatory capital base (Note 43.2) (A) 8,485,051 10,086,786

Total Risk Weighted Assets (Note 43.4) (B) 70,953,289 86,396,597

Capital Adequacy Ratio (A) / (B) 11.96% 11.67%
43. RISK MANAGEMENT

Risk management is a process where management tries to limit the effect of risk by means of prevention,
containment and repair. An essential component of risk management is control measures. Control measures are
measures that enable management to limit the negative consequences of uncertain events, which could affect the
realization of the bank’s objectives.

Examples of control measures are:
• Policies
• Procedures
• System controls
• Individual self-control

Banks’ risk management processes are designed to identify and analyze risks at an early stage to set and
monitor prudent limits, and to manage a volatile and rapidly changing business environment. Each of the bank’s
departments analyses the risks involved in the transaction it originates, verifying that risks are compatible with their
assigned limits, ensuring that they are properly managed.


At bank level, risks are managed through two principal directorates:

• Bank Risk Management (GRM); and
• Bank Asset and Liability Management (GALM).

At country level, responsibility of the overall implementation of the risk policy lies with the Country Risk Officer
(CRO) and Country Financial Officer (CFO).

GRM is responsible for the management of credit, country, market, operational and reputation risks. This risk
management function within the Country is headed by the CRO reporting to regional GRM.

Asset and Liability Management:

Asset and Liability Management (ALM) is a key financial and risk management discipline. It is about managing the
bank’s on and off balance sheet positions in such a way that the bank is able to offer competitively priced products
to customers while at the same time maintaining an appropriate risk and reward profile that creates shareholders’
value. At country level, bank has an Asset and Liability Committee (ALCO). ALM function assists ALCO to manage
Assets and Liability Management process in their specific areas of interest. The members of ALCO are drawn from
the business, as well as from the finance and other functions.

The main responsibility of ALCO includes managing interest rate risk, liquidity management, defining the transfer
pricing policies at the country level.

This function at country level is headed by Country Financial Officer.
43.1 Credit Risk

The Bank is subject to credit risk through its lending and investing activities as well as in cases where its acts as
an intermediary on behalf of customers or other third parties or issues guarantees.
GRM is responsible for establishing the credit policies and the mechanisms, organization and procedures required
to analyze, manage and control risk. In this respect, counterparty limits are set and an internal system of credit
ratings is applied.
The Bank’s primary exposure to credit risk arises through its loans, credit facilities and guarantees issued. The
Bank is also exposed to credit risk on various other financial assets including financial investments, call placements
and derivatives used for hedging. The risk that counterparties might default on their obligations is monitored on
an ongoing basis. For each transaction the Bank evaluates whether collateral and master netting agreement is
required to mitigate the credit risk.
There are two types of credit risk (Settlement and Pre-Settlement risk) that are associated with derivatives
transactions and monitored on a regular basis. GRM sets the policies and limits for counterparty risk based on
internal ratings model. The significant measures used to manage credit risk are MDDR and OBSI.
Per party exposure limit is maintained in accordance with SBP Prudential Regulation R-1. The credit risk exposure
on derivative assets held for trading is measured as the current positive replacement value plus the potential
future changes in replacement value, taking into account master netting agreements with individual counterparties
where they are enforceable in insolvency. For interest earning securities the amortized cost is included to reflect
credit risk exposure.
The Bank creates specific loan loss provisions against non-performing commercial advances in accordance with
Prudential Regulations issued by SBP. Specific and general loan loss provisions against non-performing consumer
advances are created in accordance with SBP’s guidelines available to the Bank. Please refer note 10.4 for
reconciliation in changes in Specific and General Loan loss provision.
Concentrations of credit risk (whether on or off balance sheet) that arise from financial instruments exist for
counterparties when they have similar economic characteristics that would cause their ability to meet contractual
obligations to be affected in a similar way by changes in economic or other conditions. As part of managing
concentration risk, sector risk is managed on a portfolio basis. Please refer to note 43.1.1.1 for segment reporting.

The Bank is also conducting stress testing of existing portfolio, which includes all assets, i.e. advances as well
as investments. This exercise is conducted on a semi-annual basis in line with regulatory requirement through
assigning shocks to all assets of the Bank and assessing its resulting effect on capital adequacy.
As a matter of paramount importance the affairs of the clients enjoying credit facilities are carefully reviewed
and reconsidered periodically. The facility review provides a timely signal of unfavorable developments in clients’
affairs and warns of dangers before the Bank is faced with undesirable positions. For this reason, all facilities of a
continuing character are only approved until the next review date, unless otherwise agreed.
Credit administration tasks include the following:

- Maintain Credit, Custody and Security documentation files,
- Register Security and Collateral documents,
- Tracking of covenants,
- Verify signature requirements,
- Administer facility fees/receipts/payments,
- Load limits into credit system, and
- Satisfy internal and external risk reporting requirements.
It is the Bank’s policy to reduce or mitigate credit risk on credit facilities or exposure, as much as possible, in
a given commercial environment by securing credit facilities or exposure with collateral. To correctly asses the
extent to which the collateral mitigates the credit risk the collateral must be valued according to a specified
valuation method and documented and monitored. The legal mechanism by which collateral is pledged - and
the Bank’s procedures ensures that the Bank has clear rights over the collateral and may liquidate, retain or take
legal possession of it in a timely manner in the event of the default, insolvency or Bankruptcy or otherwise defined
credit event set out in the transaction documentation, of the counterparty and, where applicable, of the custodian
holding the collateral.
Management for non-performing loans

The Bank has a Financial Risk and Recovery (FR&R) department, which is responsible for management of non-
performing loans. FR&R department undertakes restructuring/ rescheduling of problem loans as well as litigation
both civil and criminal for collection of debts.

43.1.1 Segmental information

Segmental Information is presented in respect of the class of business and geographical distribution of Advances,
Deposits, Contingencies and Commitments.

43.1.1.1 Segments by class of business
2009
Advances (Gross) Deposits Contingencies and
Commitments
Rupees Percent Rupees Percent Rupees Percent
in ‘000 in ‘000 in ‘000

Agriculture, forestry, hunting and fishing 846,261 1.51% 227,117 0.36% 104,230 0.72%
Automobile and transportation equipment 255,623 0.46% 185,265 0.29% 101,325 0.70%
Cement 127,189 0.23% 3,987 0.01% 23,381 0.16%
Chemical and pharmaceuticals 3,835,158 6.85% 829,083 1.30% 568,677 3.91%
Electronics and electrical appliances 1,202,495 2.15% 311,879 0.49% 161,977 1.11%
Exports / imports - 0.00% 16,637 0.03% 656,492 4.51%
Financial 77,786 0.14% 905,576 1.42% 6,752,479 46.38%
Food & Allied 2,321,245 4.15% 437,995 0.69% 513,439 3.53%
Footwear and leather garments 719,807 1.29% 105,143 0.17% 30,011 0.21%
Individuals 14,572,499 26.05% 40,860,387 64.21% 63,550 0.44%
Insurance - 0.00% 76,660 0.12% - -
Mining and quarrying - - 1,479,351 2.32% 157,879 1.08%
Power (electricity), gas, water, sanitary 1,981,343 3.54% 4,038,522 6.35% 1,329,580 9.13%
Services - other than financials 1,294,565 2.31% 3,706,192 5.82% 299,616 2.06%
Sugar - - 8,556 0.01% - -
Textile 9,044,443 16.17% 736,197 1.16% 682,655 4.69%
Transport, storage and communication 3,576,131 6.39% 1,957,696 3.08% 9,856 0.07%
Wholesale and Retail Trade - 0.00% 1,751,264 2.75% 737,972 5.07%
Others 16,096,072 28.76% 5,998,335 9.43% 2,364,758 16.25%
55,950,617 100% 63,635,842 100% 14,557,877 100%

2008
Commitments
in ‘000 in ‘000 in ‘000

Segments by class of business

Agriculture, forestry, hunting and fishing 800,173 1.09% 91,274 0.12% 158,208 0.52%
Automobile and transportation equipment 1,098,365 1.49% 445,396 0.56% 461,657 1.51%
Cement 854,266 1.16% 17,624 0.02% 2,878,731 9.42%
Chemical and pharmaceuticals 5,395,063 7.34% 1,067,981 1.35% 4,029,409 13.18%
Electronics and electrical appliances 405,586 0.55% 798,084 1.01% 229,981 0.75%
Exports / imports - 0.00% - 0.00% 441,322 1.44%
Financial 555,790 0.76% 1,805,575 2.28% 9,955,812 32.57%
Food & Allied 4,018,110 5.46% 1,479,196 1.87% 1,125,880 3.68%
Footwear and leather garments 845,451 1.15% 152,951 0.19% 52,318 0.17%
Individuals 22,335,246 30.37% 43,336,051 54.78% 162,273 0.53%
Insurance 189,154 0.26% 427,487 0.54% - -
Mining and quarrying - - - - 1,400 0.00%
Power (electricity), gas, water, sanitary 2,398,461 3.26% 8,051,398 10.18% 4,925,554 16.11%
Services 2,045,029 2.78% 3,495,524 4.42% 431,486 1.41%
Sugar - - 35,359 0.04% - -
Textile 9,916,919 13.49% 793,101 1.00% 802,548 2.63%
Transport, storage and communication 3,855,616 5.24% 4,515,800 5.71% 267,465 0.87%
Wholesale and Retail Trade - 0.00% - 0.00% 1,459,948 4.78%
Others 18,827,132 25.59% 12,589,904 15.92% 3,185,864 10.43%

73,540,361 100% 79,102,705 100% 30,569,856 100%

2009
Commitments
in ‘000 in ‘000 in ‘000
43.1.1.2 Segment by sector

Public/ Government - 0.00% 338,215 0.53% - 0.00%
Private 55,950,617 100.00% 63,297,627 99.47% 14,557,877 100.00%
55,950,617 100.00% 63,635,842 100.00% 14,557,877 100.00%

2008
Commitments
in ‘000 in ‘000 in ‘000
Segment by sector

Public/ Government 244,422 0.33% 2,720,048 3.44% 192,516 0.63%
Private 73,295,939 99.67% 76,382,657 96.56% 30,377,340 99.37%
73,540,361 100.00% 79,102,705 100.00% 30,569,856 100.00%
2009 2008
Classified Specific Classified Specific
Advances Provisions Advances Provisions
Held Held
Rupees in ‘000
43.1.1.3 Details of non-performing advances and

specific provisions by class of business segment

Agriculture, forestry, hunting and fishing 135,704 22,756 27,462 13,000
Automobile and transportation equipment 132,117 124,885 36,837 36,261
Cement - - - -
Chemical and pharmaceuticals 226,756 104,403 172,192 115,317
Electronics and electrical appliances 459,820 318,296 - -
Exports/Imports - - - -
Financial - - - -
Food & allied 513,825 358,283 94,468 94,468
Footwear and leather garments 10,580 7,373 - -
Individuals 1,196,074 660,170 1,543,866 1,218,040
Insurance - - - -
Mining and quarrying - - - -
Power (electricity), gas, water, sanitary 1,092,590 758,934 1,033,795 432,795
Services - other than financials 332,186 277,474 - -
Sugar - - - -
Textile 2,774,598 2,190,838 2,024,906 1,687,320
Transport, storage and communication 9,764 5,602 35,702 30,869
Wholesale and Retail Trade 855,446 354,335 - -
Others 2,925,027 1,923,527 2,719,090 1,495,753
10,664,487 7,106,876 7,688,318 5,123,823
43.1.1.4 Details of non-performing advances and
specific provisions by sector

Public/ Government - - - -
Private 10,664,487 7,106,876 7,688,318 5,123,823
10,664,487 7,106,876 7,688,318 5,123,823

2009
Contingencies
Loss before Total assets Net assets and
taxation employed employed commitments
Rupees in ‘000

43.1.1.5 Geographical Segment Analysis
Pakistan (1,898,273) 93,437,657 8,804,762 14,557,877

Asia Pacific (including South Asia) - - - -
(1,898,273) 93,437,657 8,804,762 14,557,877
2008
Contingencies
Loss before Total assets Net assets and
taxation employed employed commitments
Rupees in ‘000

Pakistan 558,557 108,092,415 10,054,704 30,569,856

Asia Pacific (including South Asia) - - - -
558,557 108,092,415 10,054,704 30,569,856
43.2 Credit Risk - General Disclosure Basel II Specific

43.2.1 For credit risk, the bank has implemented the Standardized Approach for all the portfolios.

43.2.2 For the portfolios under the Standardized Approach, the bank has used the following ECAIs (External Credit
Assessment Institutions) and ECAs (Export Credit Agencies):

- JCR VIS
- PACRA
- S&P
- Moodys

In addition, the following are the type of exposures for which the above-mentioned institutions and agencies are
used:

Types of Exposures and ECAI’s used
Exposures JCR-VIS PACRA S&P Moodys Fitch OTHER (Specify)
Corporate Yes Y
es Yes Yes Yes Unrated
Banks Yes Yes Yes Yes Yes Unrated
Sovereigns Unrated
SME’s Unrated
Securitizations N/A
Others (Specify)


43.2.3 For exposure amounts after risk mitigation subject to the Standardized Approach, amount of bank outstanding
(rated & unrated) in each risk bucket as well as those that are deducted are as follows:
Exposures Rating Amount Inflow / (outflow) Net amount

Category Outstanding Adjustments

Corporate Unrated 19,365,819 (3,305,244) 16,060,575
Rated 4,972,055 3,305,244 8,277,299
Banks Unrated - - -
Rated 2,680,298 - 2,680,298
PSEs Unrated - - -

Rated - - -
Total 27,018,172 - 27,018,172

43.2.4 Collateral and guarantees are used by the bank for credit risk mitigation (CRM). The amount and type of credit risk
mitigation depends on the level of exposure and facility. Credit risk mitigation under applicable risk management
policy and procedure guidelines are used in a consistent manner, also in order to meet operational requirements
for their legal, practical and timely enforceability. These are supported by detailed processes and procedures for
the ongoing management of each type of mitigant used.
The main types of collateral taken for CRM comprise of deposits/cash margins and government securities which
results in full mitigation of credit risk concentration.
Guarantees and similar legal contracts are obtained particularly in support of credit extension to larger groups of
companies. Guarantor counterparties include banks, parent company and associated companies. Creditworthiness
is established for the guarantor prior to approval and eligibility as collateral.
For credit risk mitigation (CRM), the bank has used the Simple Approach as stipulated by the Regulatory Capital
Framework for Basel II as prescribed by the SBP.
43.3 Market Risk

Market risk is the risk of loss arising from movements in market variables including observable variables such as
interest rates, exchange rates and equity indices, and others which may be only indirectly observable such as
volatilities and correlations. The Bank warehouses market risks for customer facilitation, and also positions itself in
the financial markets for proprietary trading. The Bank’s policy is that all market risk taking activity is undertaken
within approved market risk limits, and that the Bank’s standards / guiding principles are upheld at all times.

Market Risk Management is an independent control function with clear segregation of duties and reporting lines
with the business-line. Its main responsibility is to ensure that the risk-taking units manage the Bank’s market risk
exposure within a robust market risk framework and within the Bank’s risk appetite. The Bank’s standard systems
are used to furnish senior trading and Market Risk staff with risk exposures. All trading activities and any business
proposal that commit or may commit the Bank (legally or morally) to deliver risk sensitive products require approval
by independent authorized risk professionals or committees, prior to commitment.
The chief sources of market risk are the Banking book, which consists of loans and deposits, and the trading
book, which consists of proprietary trading positions. The chief risks run are FX, and Interest Rate risk. The
Bank uses Internal Models approach to measure and manage these risks, primarily through OCP, Delta and VaR
measures. VaR is calculated using a Historical Simulation based internal model.

43.3.1 Foreign Exchange Risk

Foreign Exchange Risk is the risk of loss resulting from changes in exchange rates. Foreign exchange positions
are reported on a consolidated basis and limits are used to monitor exposure in individual currencies.
Treasury Department of the Bank is responsible for managing foreign exchange risk. The objective of foreign
exchange risk management function is to minimize the adverse impact of foreign exchange assets and liabilities
mismatches coupled with maximizing the earnings for the Bank within the prudent and regulatory limits set for the
Bank. The Bank manages its foreign exchange risks by matching its foreign currency assets and liabilities. The net
exposures are managed within the statutory limits i.e. Net Open Position (NOP) limits prescribed by the State Bank
of Pakistan.
Positions arising on balance sheet items are generally hedged by foreign exchange contracts not included in the
balance sheet. Hedging transactions are concluded on behalf of customers, as a hedge against the Bank’s own
interest rate and currency exposure and, to a limited extent, the Bank’s proprietary foreign exchange dealings as
these activities are of limited size.
2009
Assets Liabilities Off-balance Net foreign
sheet items Currency
exposure
Rupees in ‘000

Pakistan Rupee 88,138,462 72,160,367 (7,474,264) 8,503,831
United States Dollar 3,541,543 9,622,163 6,276,707 196,087
Great Britain Pound 1,247,008 1,277,075 39,555 9,488
Japanese Yen 7,559 5,134 3,443 5,868
Euro 436,258 1,567,941 1,162,577 30,894
Other currencies 66,827 215 (8,018) 58,594
93,437,657 84,632,895 - 8,804,762
2008
Assets Liabilities Off-balance Net foreign
sheet items Currency
exposure
Rupees in ‘000

Pakistan Rupee 100,921,302 84,443,173 (6,793,071) 9,685,058
United States Dollar 5,439,694 10,433,308 5,325,547 331,933
Great Britain Pound 1,302,230 1,296,350 (4,814) 1,066
Japanese Yen 391 64,925 66,606 2,072
Euro 353,996 1,799,781 1,443,840 (1,945)
Other currencies 74,802 174 (38,108) 36,520
108,092,415 98,037,711 - 10,054,704

43.3.2 Mismatch of Interest Rate Sensitive Assets and Liabilities
2009
Exposed to Yield/ Interest risk
Effective Yield/ Total Upto Over 1 to Over 3 to Over 6 Over 1 to Over 2 to Over 3 to Over 5 to Above 10 Non-interest
Interest 1 Month 3 Months 6 Monhts Months to 2 Years 3 Years 5 Years 10 Years Years bearing
rate 1 Year financial
instruments
Rupees in ‘000

On-balance sheet financial
instruments

Assets

Cash and balances with
treasury banks 0% 6,456,119 1,895,436 - - - - - - - - 4,560,683
Balances with other banks - 1,803,273 - - - - - - - - - 1,803,273
Lending to financial institutions 11.85% - 12.00% 800,000 - 300,000 500,000 - - - - - - -
Investments 9.25% - 14.36% 27,357,638 8,766,871 8,766,871 8,766,871 1,022,312 - - - - - 34,713
Advances 2.0% - 24.26% 48,501,829 4,699,196 10,381,418 13,595,153 17,584,459 298,235 269,943 386,146 578,437 708,842 -
Other assets - 2,042,782 - - - - - - - - - 2,042,782
86,961,641 15,361,503 19,448,289 22,862,024 18,606,771 298,235 269,943 386,146 578,437 708,842 8,441,451
Liabilities
Bills payable - 1,230,248 - - - - - - - - - 1,230,248

Borrowings 4% to 12.51% 11,372,358 6,354,609 3,686,772 1,058,605 46,704 76,021 68,486 53,595 27,566 - -
Deposits and other accounts 0.1% - 13.4% 63,635,842 21,516,896 4,920,671 8,367,893 10,677,512 1,083,272 1,090,353 271,279 - - 15,707,966
Sub-ordinated loans 16.43% 798,560 - 798,560 - - - - - - - -
Liabilities against assets subject -
to finance lease - - - - - - - - - - - -
Other liabilities - 7,530,392 29,884 3,456,286 1,921,339 - - - - - - 2,122,883
84,567,400 27,901,389 12,862,289 11,347,837 10,724,216 1,159,293 1,158,839 324,874 27,566 - 19,061,097
On-balance sheet gap 2,394,241 (12,539,886) 6,586,000 11,514,187 7,882,555 (861,058) (888,896) 61,272 550,871 708,842 (10,619,646)

Off-balance sheet financial
instruments

Forward Lending - - - - - - - - - - -
Forward exchange
contracts-Purchases 46,014,898 - - - - - - - - - 46,014,898

Forward borrowings - - - - - - - - - - -
Forward exchange contracts-Sales (12,705,878) - - - - - - - - - (12,705,878)

Off-balance sheet gap 33,309,020 - - - - - - - - - 33,309,020

Total Yield/Interest Risk
Sensitivity Gap (12,539,886) 6,586,000 11,514,187 7,882,555 (861,058) (888,896) 61,272 550,871 708,842

Cumulative Yield/Interest
Risk Sensitivity Gap (12,539,886) (5,953,886) 5,560,301 13,442,856 12,581,798 11,692,902 11,754,174 12,305,045 13,013,887
Yield / interest rate risk arises from the possibility that changes in interest rate will affect the value of financial instruments. Yield risk is the
risk of decline in earnings due to adverse movement of the yield curve. The Bank is exposed to both interest rate risk and yield risk as
a result of mismatch or gaps in the amounts of assets and liabilities and off-balance sheet instruments that mature or reprice in a given
period. The Bank manages this risk by matching the repricing of assets and liabilities through risk management strategies.

The position for on-balance sheet financial instruments is based on the earlier of contractual repricing or maturity date and for off-
balance sheet instruments is based on settlement date.

43.3.2.1 Reconciliation of Assets and Liabilities exposed to Yield/Interest Rate Risk with Total Assets and Liabilities

2009
Rupees in ‘000
Total financial assets as per 43.3.2 86,961,641

Add Non Financial Assets
Operating fixed assets 4,445,682
Deferred tax assets 1,587,230
Other assets 443,104
Total assets as per balance sheet 93,437,657

Total financial liabilities as per 43.3.2 84,567,400
Add Non Financial Liabilities
Other liabilities 65,495
Total liabilities as per balance sheet 84,632,895

2008
Exposed to Yield/ Interest risk
Effective Yield/ Total Upto Over 1 to Over 3 to Over 6 Over 1 to Over 2 to Over 3 to Over 5 to Above 10 Non-interest
Interest 1 Month 3 Months 6 Monhts Months to 2 Years 3 Years 5 Years 10 Years Years bearing
rate 1 Year financial
instruments
Rupees in ‘000

On-balance sheet financial
instruments

Assets

Cash and balances with
treasury banks 0.90% - 3.60% 8,578,315 2,047,573 - - - - - - - - 6,530,742
Balances with other banks 1.50% - 1.85% 1,528,817 1,257,130 - - - - - - - - 271,687
Lending to financial institutions 13.00% - 14.50% 1,783,375 1,783,375 - - - - - - - - -
Investments 9.10% - 14.00% 18,983,027 - 17,644,200 16,696 - 187,982 1,000,981 38,425 - 7,000 87,743
Advances 2.06% - 22.29% 67,910,051 9,501,108 13,243,730 18,538,422 24,248,470 182,247 344,660 322,607 556,777 972,030 -
Other assets - 2,420,839 - - - - - - - - - 2,420,839
101,204,424 14,589,186 30,887,930 18,555,118 24,248,470 370,229 1,345,641 361,032 556,777 979,030 9,311,011
Liabilities

Bills payable - 1,731,520 - - - - - - - - - 1,731,520
Borrowings 5.00% - 15.75% 8,195,773 3,031,287 3,226,987 1,233,860 4,218 - 182,108 57,996 152,382 - 306,935
Deposits and other accounts 5.00% - 16.30% 79,102,705 22,668,492 11,168,478 11,067,231 14,511,071 335,622 1,212,850 845,260 - - 17,293,701
Sub-ordinated loans 14.86% 798,880 - 160 - 160 199,680 199,680 399,200 - - -
Other liabilities - 2,188,832 - - - - - - - - - 2,188,832
92,017,710 25,699,779 14,395,625 12,301,091 14,515,449 535,302 1,594,638 1,302,456 152,382 - 21,520,988
On-balance sheet gap 9,186,714 (11,110,593) 16,492,305 6,254,027 9,733,021 (165,073) (248,997) (941,424) 404,395 979,030 (12,209,977)

Off-balance sheet financial instruments

Forward Lending - - - - - - - - - - -
Forward exchange
contracts-Purchases 45,819,801 - - - - - - - - - 45,819,801

Forward borrowings - - - - - - - - - - -
Forward exchange contracts-Sales (19,986,494) - - - - - - - - - (19,986,494)
Off-balance sheet gap 25,833,307 - - - - - - - - - 25,833,307

Total Yield/Interest Risk
Sensitivity Gap (11,110,593) 16,492,305 6,254,027 9,733,021 (165,073) (248,997) (941,424) 404,395 979,030

Cumulative Yield/Interest Risk Sensitivity Gap (11,110,593) 5,381,712 11,635,739 21,368,760 21,203,687 20,954,690 20,013,266 20,417,661 21,396,691
Yield / interest rate risk arises from the possibility that changes in interest rate will affect the value of financial instruments. Yield risk is
the risk of decline in earnings due to adverse movement of the yield curve. The Bank is exposed to both interest rate risk and yield risk
as a result of mismatch or gaps in the amounts of assets and liabilities and off-balance sheet instruments that mature or reprice in a
given period. The Bank manages this risk by matching the repricing of assets and liabilities through risk management strategies.

The position for on-balance sheet financial instruments is based on the earlier of contractual repricing or maturity date and for off-
balance sheet instruments is based on settlement date.

Reconciliation of Assets and Liabilities exposed to Yield/Interest Rate Risk with Total Assets and Liabilities

2008
Rupees in ‘000
Total financial assets as per 43.3.2 101,204,424

Add Non Financial Assets
Operating fixed assets 4,723,595
Deferred tax assets 1,490,856
Total assets as per balance sheet 108,092,415

Total financial liabilities as per 43.3.2 92,017,710
Add Non Financial Liabilities
Other liabilities 6,020,001
Total liabilities as per balance sheet 98,037,711

43.4 Liquidity Risk

A liquidity risk arises in a situation when Bank may be unable to fund its portfolio of assets at appropriate maturities
and rates or may find itself unable to liquidate a position in a timely manner at a reasonable price.

The Bank holds capital to absorb unexpected losses, and manages liquidity to ensure that sufficient funds are
available to meet not only the known cash funding requirements but also any unanticipated ones that may arise.
The Bank’s management is responsible for managing liquidity requirements under the supervision of Regional
ALCO.
The Bank adheres to Group / Regional contingency funding plans in the event of drastic change in normal business
activities. As regards committed credit facilities, Bank’s liquidity management process also involves assessing the
potential effect of the contingencies inherent in these types of transactions on our normal sources of liquidity and
finance.

43.4.1 Maturities of Assets and Liabilities

2009
Total Upto Over 1 to Over 3 to Over 6 Months Over 1 to Over 2 to Over 3 to Over 5 to Above 10
1 Month 3 Months 6 Monhts to 1 Year 2 Year 3 Years 5 Years 10 Year Year
Rupees in ‘000
Assets

Cash and balances with treasury banks 6,456,119 6,456,119 - - - - - - - -
Balances with other banks 1,803,273 1,803,273 - - - - - - - -
Lendings to financial institutions 800,000 - 300,000 500,000 - - - - - -
Investments 27,357,638 8,766,871 8,766,871 8,766,871 1,057,025 - - - - -
Advances 48,501,829 4,027,661 6,848,229 6,560,467 12,606,845 3,353,919 7,381,915 2,196,849 3,487,044 2,038,900
Operating fixed assets 4,445,682 32,328 68,351 102,527 205,054 387,516 788,193 22,960 826,552 2,012,201
Deferred tax assets 1,587,230 26,453 52,908 79,361 158,723 317,446 317,446 634,893 - -
Other assets 2,485,886 773,550 1,423,401 96,312 192,623 - - - - -
93,437,657 21,886,255 17,459,760 16,105,538 14,220,270 4,058,881 8,487,554 2,854,702 4,313,596 4,051,101
Liabilities
Bills payable 1,230,248 1,230,248 - - - - - - - -
Borrowings 11,372,358 6,354,609 3,686,772 1,058,605 46,704 76,021 68,486 53,595 27,566 -
Deposits and other accounts 63,635,842 24,449,909 5,301,474 12,048,150 10,677,512 1,083,272 9,804,246 271,279 - -
Subordinated loan 798,560 - 199,520 - 160 199,680 199,680 199,520 - -
Liabilities against assets subject to finance lease - - - - - - - - - -
Deferred tax liabilities - - - - - - - - - -
Other liabilities 7,595,887 510,748 961,484 933,906 977,647 1,144,857 508,172 3,218,724 (659,651) -
84,632,895 32,545,514 10,149,250 14,040,661 11,702,023 2,503,830 10,580,584 3,743,118 (632,085) -

Net assets 8,804,762 (10,659,259) 7,310,510 2,064,877 2,518,247 1,555,051 (2,093,030) (888,416) 4,945,681 4,051,101

Share capital 17,179,814
Reserves (6,395,647)
Accumulated loss (3,847,658)
Deficit on revaluation of assets 1,868,253
8,804,762
2008
Total Upto Over 1 to Over 3 to Over 6 Months Over 1 to Over 2 to Over 3 to Over 5 to Above 10
1 Month 3 Months 6 Monhts to 1 Year 2 Year 3 Years 5 Years 10 Year Year
Rupees in ‘000
Assets

Cash and balances with treasury banks 8,578,315 8,578,315 - - - - - - - -
Balances with other banks 1,528,817 1,528,817 - - - - - - - -
Lendings to financial institutions 1,783,375 1,783,375 - - - - - - - -
Investments 18,983,027 - 17,656,695 16,696 - 187,982 1,000,981 38,425 - 82,248
Advances 67,910,051 7,905,727 9,063,781 10,255,556 18,048,720 5,425,448 4,053,468 7,659,057 2,719,321 2,778,973
Operating fixed assets 4,723,595 36,850 73,700 110,551 221,101 314,183 315,492 541,974 389,533 2,720,211
Deferred tax assets 1,490,856 - 9,745 - 205,835 - 74,825 1,200,451 - -
Other assets 3,094,379 817,114 1,817,662 129,851 259,702 35,025 35,025 - - -
108,092,415 20,650,198 28,621,583 10,512,654 18,735,358 5,962,638 5,479,791 9,439,907 3,108,854 5,581,432
Liabilities

Bills payable 1,731,520 1,731,520 - - - - - - - -
Borrowings 8,195,773 3,338,222 3,226,987 1,233,860 4,218 - 182,108 57,996 152,382 -
Deposits and other accounts 79,102,705 24,781,293 14,758,261 15,448,530 21,720,889 335,622 1,212,850 845,260 - -
Subordinated loan 798,880 - 160 - 160 199,680 199,680 399,200 - -
Deferred tax liabilities - - - - - - - - - -
Other liabilities 8,208,833 2,345,103 4,678,064 395,222 790,444 - - - - -
98,037,711 32,196,138 22,663,472 17,077,612 22,515,711 535,302 1,594,638 1,302,456 152,382 -
Net assets 10,054,704 (11,545,940) 5,958,111 (6,564,958) (3,780,353) 5,427,336 3,885,153 8,137,451 2,956,472 5,581,432

Share capital 13,474,364

Reserves (6,395,647)
Accumulated loss (2,508,205)
Advance against subscription for right shares 3,705,450
Deficit on revaluation of assets 1,778,742
10,054,704

43.5 Operational Risk

Operational Risk is the risk of losses resulting from inadequate or failed internal processes, human behavior and
systems or from external events. This risk includes operational risk events such as IT problems, shortcomings in
the organizational structure, missing or inadequate internal controls, human errors, frauds and external threats.
Structure and Reporting

Country Operational Risk Management (ORM), which administers and manages country wide ORM activities,
reports to the Country Risk Office which is part of Bank’s Group Risk Management. Country ORM prepares and
submits to Management a monthly ORM report.
Bank uses the following tools to manage its Operational Risk:

Risk Self Assessment:

A structured approach that helps management to identify, assess risks and take actions to mitigate risks that are
identified as unacceptable. Risks are assessed with the assistance of facilitators, who are usually Operational Risk
Management staff.
Operational Risk Approval Process (ORAP):

A change management exercise that aims to structurally identify, assess and approve operational, legal and
reputation risks arising from the introduction of new products, processes, activities, systems or significant changes
in the organization set-up.
Corporate Loss Database (CLD):

A web based database that allows for the systematic registration of operational risks losses. CLD is the primary
source used for Bank’s operational risk loss data analysis and reporting at group level.
Key Risk Indicators:

An approach used to indicate possible changes in the operational risk profile. Key risk indicators allow for a trend
analysis over time and trigger actions if required.
Business Continuity and IT controls/system security.

Business Continuity Management (BCM) is a holistic process that incorporates the following functional areas:
• BCM strategy
• Crisis Management
• Business Impact Analysis
• Business Continuity Risk Assessment
• Business Process Continuity Planning
• Technology Continuity Planning
• Property Continuity Planning
• Call Tree Tests

BCM policies minimize negative impacts of any events that might endanger the continuity of the bank’s processes
but not necessarily eliminate them. While an effective BCP program is the responsibility of all Line Managers,
the same is administered by a dedicated unit. This unit on an annual basis, reviews, updates and documents the
Bank’s business continuity standard operating procedures. These are compiled in a BCP plan document which
is updated every year based on organizational change regarding logistics, systems, critical staff and business
needs.
Information Security at the bank is defined by Confidentiality, Integrity and Availability of information; key steps
taken to ensure the aforesaid elements of Information Security are Security User Matrix, Periodical ID reviews and
password changes, Dual control policy, Encryption, Processing up-gradations.

43.5.1 Operational Risk -Disclosure Basel II Specific

The Bank adopts the Basic Indicator Approach (BIA) for calculating operational risk capital charge under Basel II
framework. The capital charge is calculated by multiplying the average positive annual gross income of the Bank
over the past three years by a fixed percentage of 15%.

44. ACCOUNTING ESTIMATES AND JUDGMENTS

The preparation of financial statements in conformity with approved accounting standards requires the use of
certain critical accounting estimates. It also requires management to exercise its judgment in the process of
applying the bank’s accounting policies. Estimates and judgments are continually evaluated and are based on
historic experience and other factors, including expectations of future events that are believed to be reasonable
under the circumstances. Revisions to accounting estimates are recognized in the period in which the estimate is
revised and in any future periods affected.
In the process of applying the bank’s accounting policies, management has made the following estimates and
judgments which are significant to the financial statements:

(a) classification of investments (Note 5.3);
(b) determining the residual values and useful lives of property and equipment (Note 5.5);
(c) impairment (Note 5.7);
(d) recognition of taxation and deferred tax (Note 5.8);
(e) provisions (Note 5.9);
(f) accounting for post employment benefits (Note 5.11); and
(g) valuation of derivatives (Note 5.17.2).

45. CREDIT RATING

PACRA has determined the bank’s short term credit rating at (A1+) and long term credit rating at (AA).

46. DATE OF AUTHORIZATION

These financial statements were authorized for issue on March 03, 2010 by the Board of Directors of the Bank.

47. GENERAL

47.1 Comparative information has been reclassified and re-arranged wherever necessary to facilitate the comparison.
Significant reclassification include the following:

47.2 From To 2008
Rupees in ‘000

Administrative expenses Other provisions /write-offs 22,093
Other assets Investments 6,248
47.3 These financial statements have been prepared in accordance with the revised form of annual financial statements
of the Bank issued by the State Bank of Pakistan through its BSD Circular No. 4 dated February 17, 2006.
47.4 Figures have been rounded off to the nearest thousand rupees.

Details Of Write-off or any Financial Relief above Rs. 500,000 during the Year 2009
S. Name Name of Individuals / Father’s / Outstanding Liabilities at beginning of year Principal Interest / Other Total
No. of Address Partners / Directors Husband’s Principal Interest / Others Total written-off Mark-up Financial (10+11+12)
person (with NIC No.) Name Mark-up written-off Reliefs
(6+7+8) provided
1 2 3 4 5 6 7 8 9 10 11 12 13
RBS Annual Report 2009

1 Zahur Cotton Mills Ltd 55- C-1, Gulberg iii, Lahore Mr. Javed Zahur Mian Zahur-ul-haq 36,998 13,269 - 50,267 - 13,269 - 13,269
35202-2668061-7
Mrs. Mukamila Javed Mr. Javed Zahur
35202-2762008-2
Mr. Fazal Hussain Mr. Sher Khan
35202-2557275-5
Mr. Nazir Akhtar Mr. Ramzan Masih
35202-2918483-1
Mr. Muhammad Arif Muhammad Khan
35201-9400036-5
Mr. Abdul Samad (NIT Nominee) Mohammad Abdul Majeed
(Not Available)

2 Falcon International 14- Sheikh Masood Chambers M.A. Jinnah Road, Karachi Mr. Baber Najam (Late)
42301-6933232-1 “ Mr. Muhammad Fazal 12,471 - - 12,471 4,988 - - 4,988

3 Jm Textiles 55- C-1, Gulberg iii, Lahore Mr. Hassan Zahur Mr. Javed Zahur 6,050 1,688 - 7,738 2,950 1,688 - 4,638
35202-2918485-7
Mr. Ali Zahur Mr. Javed Zahur
35202-5147760-9

4 Waqar Enterprises 100 B-1, Gulberg iii, Lahore Mr. Waqar Ahmed Mr. Muhamamd Akbar Khan 39,999 5,666 - 45,665 - 3,665 - 3,665
35201-7377477-7

5 Fawad Brothers House No.189, Akbari Mandi, Lahore Mr. Fawad Akram Mr. Muhammad Akram
35202-1780397-5” 9,493 1,367 - 10,860 - 1,367 - 1,367

6 Nazer Din House No.9-13/162, Al-galani Road, Quetta “Mr. Nazer Din Haji Sangeen Khan
54400-449488-1” 9,816 1,328 - 11,144 - 1,328 - 1,328

7 Deans Fashion Garments 189-s, Industrial Area, Kot Lakhpat, Lahore “Mian Aurangzaib Mr. Abdul Gafoor
35202-6656421-7” 3,068 1,218 - 4,286 - 1,218 - 1,218

8 Muhammad Usman Khan House No.109-a, Khugani Tughlaq Road, Multan “Mr. Muhammad Usman Khan Mr. Ghulam Haider Khan
36302-0436852-5” 2,804 1,251 - 4,055 - 1,055 - 1,055

9 Toweline Mills Halloki Road, Kahna Kacha, Lahore Mr. Khalid Mahmood (Late) Aziz Ur Rehman 26,480 2,898 - 29,378 - 1,000 - 1,000
374-47-071060

10 Consolidation Shipping & Room No.1109, 11th Floor, Business Plaza, Karachi “Mr. Alamdar Hussain Bhatti
Logistics 517-69-556583” Mr. Muhammad Iqbal Bhatti - 771 - 771 - 771 - 771
Mr. Abid Ali Mr. Muhammad Aslam
244-41-007029
Mr. Muhammad Aslam Mr. Muhammad Yousaf
244-37-007025

79
80
(6+7+8) provided
1 2 3 4 5 6 7 8 9 10 11 12 13

11 Poly Sale Trading Co. 601-e2, Johar Town, Lahore Mr. Shaukat Ali Mr. Noor Din 3,000 753 - 3,753 - 753 - 753
270-92-019645

12 Fine Garments Shop No.28-b, D-point, Parking Plaza, Rang Mehal, Lahore “Mr. Iftikhar Aslam Mr. Muhammad Aslam
35202-2836417-7” 2,000 645 - 2,645 - 645 - 645

13 Nasir Usman & Co. 5- Usman Chamber, Weaver Lane, Karachi “Mr. Nasir Usman Mr. Muhammad Usman
42301-1046950-5” 2,138 588 - 2,726 - 588 - 588

14 Adnan Sanni 132-d Block 4 Clifton Karachi 4230193134179 Maj M Sanni 473 99 32 605 473 99 32 605
15 Aftab Ali Khan House 761 Azam Basti Street 9 Karachi 4230198166799 Muhammad Ashraf Khan 387 33 - 420 387 39 103 529
16 Akbar Ali H No 15 Hashmi St Near Mao College Ground New Chau 3520210115075 Ali Ahmad 403 31 - 435 403 36 118 558
17 Anees Aslam House 6 Khan Colony Lmq Road Chungi 7 Multan 3630287828727 Muhammad Aslam 723 46 - 768 723 53 144 920
18 Arshad Ahmad Khan 87- K Model Town Lahore 3520299108309 Muzaffar Ali Khan 404 112 33 549 404 112 33 549
19 Ashaq Ameer Hs#7/c Mohallah Arbab Colony Khushal Bagh Wasak Ro 1730199672437 Ameer Arshad Siddqiue 409 36 - 445 409 41 172 623
20 Ashique Ali H# A-1/32 Akhter Colony Sec#- A Pindi Chowk Nr M 4520805057433 Lal Bux Shaikh 443 56 - 499 443 65 - 508
21 Asim Azeem 250 Askari Housing Complex Zarar Shaheed Road Cant 3520228080565 Sheikh Muhammad Azeem 387 88 66 542 387 88 71 547
22 Atta Ur Rehman H # 245 A St #3 F 10 / 3 Islamabad 6110132514243 Mia Mohammad Atta Ullah 463 463 - 927 451 76 12 539
23 Avais Akhter Sherwan 8-b-1 Johar Town Lahore 3520259477833 Akhtar Ali Khan Sherwani 509 115 62 685 509 115 68 692
24 Ch M Safdar Iqbal H-26 St-8 New Muslim Colony Rajgarh Lahore 3520281657389 Chaudhry Muhammad Iqbal 468 59 - 527 468 69 - 537
25 Ejaz Ahmed Pib Colony H # C-2196 Near Qadri Masjid Karachi 4220118618563 Abdul Razzaq 468 59 - 527 468 69 - 537
26 Fakhar Ayub Qureshi 72 Nargis Block Allama Iqbal Town Lahore 3520227234909 M Ayub Qureshi 497 119 21 637 497 119 21 637
27 Farhad Ali Sheikh B-33 Block 2 Gulberg F B Area Karachi 4210154421397 Dilshad Ali Sheikh 441 78 40 560 441 78 45 565
28 Farhan Khan House No 211 Block A-3 Johar Town Lahore 3520229098387 Rehmat Khan 440 83 55 578 440 83 60 583
29 Farida Khan D-60 Darkshan Villas Phase V Off Khy E Bukhari Sea 6110169668040 Darya Khan Bangash 437 58 24 519 437 58 25 520
30 Farrukh Ali Plot # 638-639 Kaleem Shaheed Colony # 1 Narwala R 3310079688115 Muhammad Akram 443 56 - 499 443 65 - 508
31 Ghulam Hussain 3-f 3rd Floor Madina Mansion Mosa Street Kharadar 4230164901779 Muhammad Ibrahim 1,213 152 - 1,365 1,213 177 - 1,389
32 Gohar Tasneem House # 92/1 Street # 29 Khayaban E Sehar Phase # 4220149915651 Tasneem Sheikh 375 84 43 502 375 84 47 506
33 Hafiz Shahid Munir H # 1867-b St # 33 Allama Iqbal Colony Tench Bhatt 3740503873331 Munir Ahmad Mughal 468 59 - 527 468 69 - 537
34 Imran Mehboob H# R/c 137 Near Masjid Jalal Din Moh Khawajgan Guj 3420160230371 Mehboob Alam 384 31 - 416 384 36 100 521
35 Irfan Ullah Khan H # 203 Vip Suit # Blochistan House Agha Khan Rd F 5440074314157 Habib Khan 548 46 - 595 548 54 181 783
36 Jahangir Ahmed House #5 Street 7 Saddi Queabad Colony 2 Saddiquea 3630265566607 Malik Allah Baksh 448 57 - 505 448 66 - 514
37 Javed Iqbal Dhobi Gate Stop Sunny Biscuite Factory H#18 Darog 3520015754975 Muhammad Latif 433 38 - 470 433 44 49 525
38 Lal Muhammad Baloch House #m-4/3 Khayaban E Saadi Phase 7 Dha Near Sta 4220112521415 Muhammad Peral Baloch 450 53 35 538 450 53 40 543
39 Liaqat Farooq Butt House# 314 Block K Sabzazar Scheme More Lahore 3520236404701 Sardar Muhammad Butt 546 74 56 677 546 74 62 683
40 M Fasi Uddin C-33-34 Sector W-1 Gulshan E Maymar Near Hiway Pol 4220114006073 Mohammad Nizam Uddin Siddiquie 453 57 - 511 453 66 - 520
41 M Yameen Khan H No F 5 Ls 20 Sec 12 C Bismillah Market Orangi To 4240165174395 Muhammad Yosuf Khan 463 59 - 522 463 68 - 531
42 Mohammad Maskeen H No 292 Sec E Street No 13 Korangi Crossing Nr Fa 4220104102027 Fakeer Mohammad 381 85 40 506 381 85 45 510
43 Mohsin Riaz 529-a Model Town, Gujranwala 3410123939011 Muhamad Riaz 444 38 - 482 444 44 118 606
44 Mohummad Khursheed S House# R-48 Sector 5/b/2 Gulshan E Saeed North Kar 4210118491475 Mohammad Saif Ul Islam 405 50 49 505 405 50 49 505
45 Muhammad Amin 120-d Liaqat Town Near Wasa Disposal Center Faisal 3520228794211 Akhter Hussain 469 62 - 531 469 72 - 541
46 Muhammad Aslam H # 30 St # 7 Masoodabad Samanabad Nr Abdul Majeed 3310218024031 Muhammad Anwar Khan 448 57 - 505 448 66 - 514
47 Muhammad Bilal H # 582 B-blk Peoples Colony # 2 Faisalabad 3310060718979 Muhammad Saddique 436 55 - 491 436 64 - 500
48 Muhammad Hanif H # B-19 Bara Bazar Raja Bazar Near Chiragh Market 3740526451953 Muhammad Siddique 445 56 - 501 445 65 - 510
49 Muhammad Kamran H # G/443 Bakra Mandi Haji Umeed Ali Rd Phulaili O 4130373325289 Muhammad Yameen 478 63 - 541 478 73 - 551
50 Muhammad Nadeem Munir H No 36 St-4 Jalal Park Khot Khwaja Saeed Lahore 3520286414655 Munir Ahmad 448 57 - 505 448 66 - 514
51 Muhammad Nauman 217-218-a Gulfishan Colony Jhang Road Nr Sara Hosp 3310071423865 Liaquat Ali 515 515 - 1,030 498 88 17 603
52 Muhammad Nauman Liaq 217-218-a Gulfishan Colony Jhang Road Nr Sara Hosp 3310071423865 Liaquat Ali 476 106 53 635 476 106 59 641
53 Munir Abbas Baluch H No 491 Naqshband Colony Rasheed Abad Near Naseer 3130206199071 Sardar Rasool Bukhsh Khan 468 59 - 527 468 69 - 537
54 Nauman Ahmad Qureshi 75-e Model Town Lahore 3520274908835 Noor Ahmad Qureshi 443 56 - 499 443 65 - 508
55 Nazir Hussain H No # C-170 Ground Flr Gulshan E Hadeed Phase 2 N 4250114786643 Sohab Khan 453 57 - 511 453 66 - 520
56 Rana Riaz Ahmed H# 256 C Block Hameed Chowk Batala Colony Faisalab 3310085519403 Chudhary Sofi Ghulam Rasool 441 56 - 497 441 65 - 506

(6+7+8) provided
1 2 3 4 5 6 7 8 9 10 11 12 13
57 Riaz Ahmed Nizam House No 30/7 B-area Liaqatabad Near Jamia Masjid 4210113852279 Nizam Uddin 488 70 36 593 488 70 36 593
58 S Tabasam Muneer Upper Story Khan Lab Khushab Road Block- 07.sgd. V 3840384927673 Muneer Hussain Shah 468 59 - 527 468 69 - 537

59 Saleem Akhtar Choudh 81-6 C-2 Green Town Lahore 3610324567375 Choudhary Abdul Rashid 501 88 38 627 501 88 38 627
60 Saleem Mustafa 58/15 Sector 5-d New Karachi Karachi 4320357963197 Ghulam Mustafa 468 43 - 511 468 50 - 517
61 Shahid Hanif H# 35/ 65 Mohallah Vadarian Alamgir Bazar Sialkot 3460388997261 Muhammad Hanif 755 65 - 820 755 75 75 906
62 Shahid Mahmood H #62 F-block Sabaza Bazar Lahore 3520186310383 Manzoor Ahmed 453 57 - 511 453 66 - 520
63 Shahzad Ahmed H# B Vi 757 Muhammadi Colony Sadiqabad Street 5 Ra 3740559685037 Abdul Ghani 326 27 - 353 326 31 225 582
64 Shahzad Ur Rehman H # 12 Str 40 Gunj Mughal Pura Lahore 3520225324769 Shoaib Ur Rehman 464 464 - 929 451 79 14 543
65 Shakeel Sarwar Khanz 257-x Block Dha Defence Lahore 3520162789111 Sarwar Khan 522 91 59 672 522 91 65 678
66 Syed Abid Hussain H#7 St#4 Mian Meer Upper Mall Lahore 3520165949187 Syed Zafar Hussain 458 58 - 516 458 67 - 526
67 Syed Hammad Raza Chah Samandri Sher Shah Road Muzafarabad Multan 3630269346129 Syed Murtaza Shah 308 26 - 334 308 30 180 518
68 Syed Khushnood Ali S House # 388-c Street # 14 Madina Town Officers Col 3310007088323 Syed Mehmood Ali Shah 458 67 37 562 458 67 37 562
69 Syed Tauqir Hussain House # 17 4moin Abad Phase Iii Model Colony Khan 4220199987931 Syed Sagheer Hussain Naqvi 421 85 45 552 421 85 50 557
70 Talha Ahmed H# Su-136 Askari Ph# 4 Rashid Minhas Rd Nr Millin 4220180042935 Nisar Ahmed 443 56 - 499 443 65 - 508
71 Tariq Mehmood Afghan Abad # 2 St # 4 H # P159 Nr Shahbaz Karyana 3310089568885 Muhammad Rafiq 441 56 - 497 441 65 - 506
72 Usman Rasool House No 238 Sector B/3 Mirpur (Azad Kashmir) 8130240130969 Ghulam Rasool 326 26 - 352 326 30 228 584
73 Waseem Pasha A 51 North Nazima Bad Karachi Karachi 4210119230931 Muhammad Yaseen 477 93 58 628 477 93 64 633
74 Zaheer Abbas Ranjha House # 415 St No 1 Sector G-8 Islamabad 3840102228715 Muhammad Baksh 399 80 29 508 399 80 29 508
75 Abdul Qadeer Khawaja 4-r Dha Cantt Lahore 3520113410641 Abdul Aziz 485 97 34 616 485 114 37 636
76 Abdul Qayum H # 2 Haji Park Rehman Pura Lahore 3520292659405 Abdul Jahan 483 78 28 589 483 95 31 609
77 Akram Ali H# 133 Road Bhanis Colony Landhi 34 Near Kamala Ch 4250172642485 Malik Abdul Majeed 436 46 - 482 436 64 - 500
78 Ali Raza H-4 Bilal-1 Aslam Park St Nr Dak \khana Shara 3520240429483 Nazir Hussain 443 47 - 490 443 65 - 508
79 Arif Maqsood Butt H No 1407 B-2 Block Faysal Park China Scheme Lahor 3520261544493 Maqsood Ahmad Butt 456 456 - 912 442 78 14 534
80 Asad Ullah Agha B-100feroz Nan Road Bath Ice Land Clifton Karachi 4230182411081 Karam Ullah Agha 459 47 - 505 459 63 - 522
81 Asif Khan House # A-518 Street # 8 Block-n North Nazimabad N 4210155910295 Mehboob Khan 443 47 - 490 443 65 - 508
82 Asim Mehmood Flat No 306 4th Floor Block B-6 Savana City Gulsha 4220187408589 Muhammad Youns 470 108 32 610 470 124 36 630
83 Azam Khan Plot 12 Street 4 Haji Hussain Street Shah Waliulla 1330298672601 Sher Rehman 456 35 - 492 456 49 - 505
84 Aziz Ullah H-50 St#45 Tipu St Sanat Nagar Lahore 3520211260283 Aman Ullah 452 31 - 484 452 44 37 533
85 Ch Hamid Mehmood House No 1 St # 13 Data Nager Badami Bagh Lahore 3520285718867 Ch Ghulam Nabi 458 49 - 507 458 67 - 526
86 Faisal Mahmood House # 168 Q-1 Phase Ii Wapda Town Nr Village Kha 3520219103307 Faqeer Hussain 463 49 - 512 463 68 - 531
87 Faiz Ikram Rasool House # 27-a Street # 9 Inayat Bagh Near Shalimar 3520112071495 Mian Ghulam Rasool 403 64 73 540 403 79 86 568
88 Irfan Rashid 60-p Model Town Ext. Lahore 3520015256999 Bashir Ahmad Khan 12,735 149 - 12,883 1,526 2,069 - 3,595
89 Farhahd Ali Khan Flat # 502 A Homeland Appt Block 13 C Gulshan E Iq 4220130760045 Mohammad Aslam 414 70 49 532 414 84 61 559
90 Hammad Jamil Malik P-60 Street 3 Sargodha Road Muslim Town #1 Nr Colo 3310010166333 Muhammad Jamil Malik 496 496 - 991 481 84 14 580
91 Hussein Atta Ul Rehm H # 245 A St #3 F 10 / 3 Islamabad 6110132514243 Mia Mohammad Atta Ullah 420 135 52 607 420 151 66 637
92 Jawwad Ul Haq H No 3a-2/4 Nazimabad No 3 Near Eid Gah Ground Nr 4210165876253 Syed Ansar Ul Haq 438 46 - 484 438 64 - 502
93 Kamran Sadiq H # B-ii-326 St # 10 Muslim Town Rawalpindi 3740566736127 Subah Sadiq Chaudhri 467 467 - 934 451 80 16 546
94 Khawaja Muhammad Awais H # 112 Kashana Mehar Dastagir Muhallah Khalid Col 3630229704845 Khawaja Khuda Buksh 463 49 - 512 463 68 - 531
95 M Ashgar Urf Raheel H# 1696/a St 10 Ashiyana Quresh Mohallah Nizam Aba 3630205251101 Muhammad Ayoub 453 48 - 501 453 66 - 520
96 Rizwan Ayaz 251/1 Z Phase 3 Dha Lahore 3520114545233 Muhammad Ayaz Khan 999 999 - 1,998 547 - - 547
97 M Saqib Khan H # B 33 Sec 51 B Korangi No 6 Karachi 4220105615551 Khalil Khan 504 504 - 1,008 480 87 24 591
98 M. Javed Rafiq 5/45-zaman Colony Cavalry Ground Lahore 3110205975605 Muhammad Rafiq 973 76 - 1,049 973 103 - 1,076
99 Malik Muhammad Nasir H # 73 St # 01 Near Umal Qura Masjad Aziz Colony 3840320753659 Riaz Hussain 694 49 - 744 694 68 49 811
100 Muhammad Afzal Butt H # 13/170 Ada Pasrorian Moh Tibbatanch Near Ahly 3460322235925 Muhammad Haneef Butt 513 513 - 1,027 498 88 15 601
101 Muhammad Ahsan Malik Ho # 158 St #64 G 8/1 Islamabad 6110119518685 Maqsood Ahmed Malik 486 56 29 571 486 72 32 591
102 Muhammad Akram 170 B Satellite Town Gujranwala 3410119249143 Sheikh Muhammad Ismiyal 432 49 - 481 432 68 - 500
103 Muhammad Amin House # 173 St# 7 Gobind Pura Nr Akbari Masjid F 3310081688951 Muhammad Yaseen 408 75 13 497 408 89 16 514
104 Muhammad Amin House # 173 St# 7 Gobind Pura Nr Akbari Masjid F 3310081688951 Muhammad Yaseen 445 445 - 889 431 74 14 519
105 Muhammad Ashraf House # 537-x Lane No 3 Westridge No 3 Rawalpindi 3740580662291 Haji Ch Allahdad 584 41 - 626 584 57 53 694
106 Muhammad Athar Qures 402 Dd Phase Iv Dha Lahore Lahore 3520256422223 Muhammad Idrees Qureshi 443 76 78 597 443 92 94 629
107 Muhammad Javaid H# 292 St# 04 Main Rd Alnajaf Clny Faisalabad 3310009274103 Munir Ahmad 458 49 - 507 458 67 - 526
108 Muhammad Javid Ilyas 1881-x Shams Abad Colony Al Quresh Street Multan 3630233023833 Muhammad Ilyas 463 49 - 512 463 68 - 531
109 Muhammad Nadeem H # 21 St-22 Usman Park Faisal Rd Bund Road Nr Sh 3520215973707 Muhammad Rafique 450 49 - 499 450 68 - 518
110 Muhammad Saleem H # R-1841 1st Floor Block 14 Fb Area Near Jaffery 3120464734791 Allah Devya 443 47 - 490 443 65 - 508
111 Nauman A Qureshi 75-e Model Town Lahore 3520274908835 Noor Ahmad Qureshi 495 51 47 594 495 69 61 625
112 Rana Arshad Javed Fa 446 Jahanzab Block Iqbal Town Lahore 3520201485009 Zulfikar Ali Mumtaz Rana 453 85 21 559 453 101 25 578
81
82
(6+7+8) provided
1 2 3 4 5 6 7 8 9 10 11 12 13
113 Rasheed Ahmad H # G-4 Ptcl Colony Nr District Court Faisalabad 3310422452335 Nazir Ahmad 441 47 - 488 441 65 - 506
114 Rehana Ataullah 245 A St# 3 F-10/3 Islamabad 6110112378962 Mian Mohammad Nurullah 429 117 37 583 429 132 40 601
115 Sajid Bashir H # 10-13/1 St # 02 Shehzad Colony Satiana Road Fa 3650227813699 Bashir Ahmad Malik 486 486 - 973 473 72 14 558
116 Sajid Iqbal House# P-1015-e Main Asghar Mall Rd Angat Pura Raw 3740561141309 Muhammad Iqbal 432 26 15 473 432 53 18 503
117 Shahnawaz Akhtar Co/mashaal Inter National Flat#1 Bl#5 Alabbasia 6110130560011 Fayyaz Akhter 465 465 - 929 451 78 14 543
118 Syed Mohsin Ali Shah H-4 Doultana House Mumtaz St Habib Ullah Road Laho 3310078742279 Syed Sakhawat Ali Shah Bukhari 461 84 29 574 461 99 33 593
119 Syed Noor Qadir House No 21/18 Fb Area Karachi 4200005071475 Syed Abdul Qadir 512 512 - 1,024 486 88 26 600
120 Tasneem Farhat House # 18-f/1 Pechs Block 6 1st Flr Near Pso Pum 4220105740284 Hayat Ahmmed Ansari 452 82 36 571 452 97 36 586
121 Ahmed Nadeem House No 3 B Street 72 F 8/3 Islamabad 6110121177391 Mohammed Ashraf 659 40 - 699 659 66 - 725
122 Ameer Ali Shroff F#h 216 Ml Park View Soldier Bazar Karachi 4200004205945 Akbar Ali 431 58 16 505 431 87 22 540
123 Arslan Riaz House No 186 J Area Korangi 5 Karachi 3520284482467 Muhamad Riaz 618 33 - 652 618 57 26 702
124 Bilal Shabbir Sabbir Building House No 18/378 Taj Pura Near Butt 3460323470851 Tariq Shabbir 453 39 - 492 453 66 - 520
125 Dilawar Khan Flat#27 Aamir Chamber Sohrab Katrac Road Saddar Ka 4230142310171 Dost Mohammad 443 38 - 481 443 65 - 508
126 Faisal Adeel Gazi Moh Hamayun Street No 1 Zafar Abad Nai Abadi 3460321520971 Munawar Hussain 474 44 - 518 474 75 - 549
127 Faisal Mehmood House # 168 Q-1 Phase Ii Wapda Town Nr Village Kha 3520219103307 Faqeer Hussain 507 38 27 572 507 72 49 627
128 Farhan Khan House No 211 Block A-3 Johar Town Lahore 3520229098387 Rehmat Khan 448 38 - 486 448 66 - 514
129 Farman Ali Abbu Bakar Street Blk D Chakala Sch Iii Nr Car Cho 5440043174839 Alam Ali 492 27 - 518 492 46 52 589
130 Ghulam Ali Shah House# B-70 Samina Banglows Qasimabad. Near Ali P 4130344120217 Ghulam Hussain Shah 636 29 - 666 636 50 61 747
131 Javed Farooq 88 B Askari Apartment Sarfraz Rafiqui Rd Cantt Lah 3330344563151 Muhammad Hayat 403 73 25 501 403 101 27 532
132 Khurram Tariq House #310 Block C Faisal Town Lahore 3520229258093 Tariq Gulzar 420 40 44 504 420 68 50 538
133 Malik Sharaz Ali House # 53 A1 Vallincia Town Near Wapda Town Valli 3520298942275 Maalik Zulfiqar Ali 444 65 15 524 444 95 25 564
134 Mansoor Ahmed H No 5 Budhan Shahstreet Qilla Gujjar Singh Lahore 3520293378001 Ch Zahoor Ahmed 464 58 28 550 464 89 31 584
135 Muhammad Afsar Khan H# 358/8cb Mustafa Chowk Chamnabad Street 4 Misria 3720392895957 Peer Buksh 430 23 - 453 430 40 43 513
136 Muhammad Altaf Flat 3 312 3rd Flr Prime Market Near Gulzar Hijri 4210114040209 Muhammad 453 39 - 492 453 66 - 520
137 Muhammad Rehan Rafiq H#248 St#23-a Mujahidabad Mughalpura Lahore 3520142792567 Mir Muhammad Rafique 479 55 44 578 479 84 67 630
138 Muhammad Usman H# 88 Phase 2 Koh E Noor Housing Scheme Chungi Ama 3520115617543 Muhammad Anwar 458 69 20 548 458 101 26 585
139 Muhammad Wasim Ul Ha Flat #a-11 Al Rehman Premier Appartment Block 16 G 4230169326619 Muhammad Naim Ul Haque Sheikh 390 51 53 494 390 80 73 543
140 Muhammad Wasimuddin R 28 Sector 10 North Karachi Karachi 4220107050541 Muhammad Raziuddin 461 47 31 539 461 73 39 574
141 Muhammad Yasin H# A15/5 Rabia City Blk-18 Gulistan-e- Johar Karac 4220112132725 Haji Muhammad Hashim 676 48 - 725 672 67 73 811
142 Muhammad Younas Hashmi House# 447-a Street#1 Qadaria Colony Peshawar Road 4230143574337 Muhammd Yaqoob 422 25 - 447 422 43 47 512
143 Munir Ahmad House # 31 Street # 3 Najaf Bazar Kot Lakhpat Laho 3520224257105 Abdul Haq 453 39 - 492 453 66 - 520
144 Rehan Qayyum Khan H#460 St#98 I-10/4 Islamabad 6110118854729 Abdul Qayyum Khan 503 503 - 1,006 488 84 15 587
145 Sajeel Ahmed H # 10 6c Zaildar Park Shahjamal Lahore 3520201698859 Aqeel Pervaiz 463 463 - 925 449 77 14 540
146 Shahid Karim Khan H#1238 St#10 I-10/2 Islamabad 6110163553119 Mohammad Karim 504 504 - 1,008 489 84 15 588
147 Syed Mubashir Abbas Flat No.a-7 Noman Arcade Blk-14 Gulshan-e-iqbal Ka 4220190723795 Syed Ghulam Abbas 461 36 - 498 461 62 - 524
148 Syed Zulqarain House No 400 Meer Hassan Road Model Town Sialot Si 3460317900805 Nazer Muhiyodeen Saien 453 39 - 492 453 66 - 520
149 Tanveer Ul Hassan 116 Garden Block Garden Town Lahore 3520243609831 M Zaheer Burq 411 40 38 488 411 69 58 538
150 Tariq Ahmad H#16 St#22 Empress Park Gari Shahu Near Back Side 3520227677627 Sher Mohammad 506 9 30 546 506 57 50 612
151 Tariq Ali H # 419 St # 4 Manzor Park Mansora Abad Faisalabad 3310082334103 Ghulam Rasool 436 37 - 473 436 64 - 500
152 Tehseen Ahmed Atif Ameer Park Street No 5 D C Road Gujranwala 3410126705273 Nasir Ahmad Sajid 469 27 - 496 469 47 48 564
153 Waseem Ahmad H # 163 Block-a Gulberg Colony Faisalabad 3310062746819 Jamil Ahmad 443 443 - 887 431 67 13 510
154 Abdul Rasheed H # 4 Street # 3 Nasir Bagh Road Faisal Town Pesh 2120369769469 Haji Abdul Manan 555 24 - 579 555 53 5 613
155 Ahmad Raza Bhutta 46 Shaheen Street, Taj Bagh, Lahore. 3520252262179 Atta Ullah Butta 695 41 - 735 695 41 - 735
156 Ahmad Sohail Astana Naqshabandi Gt Road Opp Alhavi Foundation D 3520116432061 Mian Ahmed Kabir 408 51 20 478 408 91 25 524
157 Azher Hussain H No 80/3 Sheet No 9 Model Colony Nr Awami Hotel K 3730153654911 Mazher Husain 439 439 - 879 417 72 13 503
158 Babar Ilyas H# E-26/37-x, Ghosia Colony, Walton Road, Lahore. 3520113539253 Chaudhry Ilyas 683 45 - 728 683 45 - 728
159 Chaudhry Muhammad Ra H # 24 Rasool Park Shama Road Ichra Near Govt Free 3520014708801 Ch Muhammad Iqbal 467 28 10 506 467 68 23 558
160 Dawood Ahmed Khan House # J-217/22 St # 02 Ayria Mohala Nadeem Colon 3740570091723 Mehtab Gull 399 49 31 479 399 90 59 548
161 Imran Ali H# P-225-st# 8 Main Bzr Afghanabad#1 Faisalabad 3310006396421 Haji Muhammad Bashir 463 30 - 493 463 68 - 531
162 Jawad Asghar 404 Block 15 F B Area Dastigir Society Karachi 4210179069871 Ali Hadir 163 41 16 220 504 77 26 606
163 M.aslam H # 163/5 A Dasqat Park Umar Rd Sanda Khurd Lahore 3520227600025 Asgher Ali 507 507 - 1,014 499 84 15 598
164 Malik M. Tufail New Abadi Near Govt Primary School Rang Pura Sialk 3460375548893 Malik Deen Muhammad 446 26 - 472 446 60 - 506
165 Mir Sherbaz Khetan Fl # 9 Nahaz Plaza F-8 Markaz Islamabad 6110154995163 Sardar Amir Muhamad Khethan 423 26 - 448 418 44 40 502
166 Muhammad Ahsan Malik Ho # 158 St #64 G 8/1 Islamabad 6110119518685 Maqsood Ahmed Malik 477 477 - 954 446 78 12 537
167 Muhammad Akbar Prem Nagar Street No-2 Near Session Court Sialkot 3460396492509 Abdul Rasheed 453 29 - 483 453 66 - 520

(6+7+8) provided
1 2 3 4 5 6 7 8 9 10 11 12 13
168 Muhammad Arshad Qure H No Bb-581 St No 9 Jamia Masjid Road Qademi Imam 3740561163623 Mohammad Akbar Qureshi 462 48 17 527 462 93 23 579
169 Muhammad Azam Nathoki P.o Barki, Lahore, Cantt. 3520149601643 Mohammad Asghar 456 19 - 475 624 36 - 660

170 Muhammad Haroon Rasheed H # M 811 Gulshan-e-zia Liaqat Chowk Sec 16 Orangi 4240132914689 Abdul Aziz 660 24 - 684 660 53 10 723
171 Muhammad Ibrar Kothi # 30, P-724 Islam Nagar Road New Civil Lines 3310075042685 Muhammad Ismail 508 508 - 1,016 500 85 15 600
172 Muhammad Imran Javed H# 592 Mohallah Samanabad Block-n- Lahore 3520297270659 Javed Akhtar 694 30 - 724 694 69 6 769
173 Muhammad Iqbal H- 22 Street # 25 B Wasanpura Lahore 3520223582869 Muhammad Bashir 439 29 - 469 439 67 - 506
174 Muhammad Nadeem H# 32, St# 24, National Town, Sanda Road, Lahore. 3520251219781 Ellahi Buksh 727 48 - 775 727 48 - 775
175 Muhammad Nasir Moh Muhammad Pura Commissioner Road Opp Pak Alam I 3460241739749 Shamas Ul Din 453 29 - 483 453 66 - 520
176 Muhammad Saeed H # 21-e Gulshan Park Akhri Weagon Stop Nishat Col 3520158871681 Abdul Majeed 448 38 - 486 443 65 - 508
177 Muhammad Saleem H # A 11 Street Rufi Cottage Blk1 13d Gulshan E Iq 4220107212485 Muhammad Siddiq 475 67 44 586 475 116 81 673
178 Muhammad Shahbaz Zafar H# 817 St# 4 Khizarabad Peoples Colony # 2 Faisala 3310018686821 Sheaikh Zafar Ahmad 463 30 - 493 463 68 - 531
179 Muhammad Zahid P-168 St # 5 Al Masoom Town Faisalabad 4220146650615 Muhammad Aslam 506 506 - 1,011 498 84 15 597
180 Mukhtar Ahmad H # 18 St # 17 Toheed Road Nasir Park Nazad Bilal 3520295057031 M Iqbal 448 38 - 486 443 65 - 508
181 Naeem Hussain Hh Tariq Road Cantt Near Stational Headquarter Sia 3460325630795 Allah Ditta 119 34 22 175 471 64 50 586
182 Qasim Sardar H-14 St-45 Dar Street Sanda Kalan Nr Dr Shaharyar 3520223107859 Ch Sardar Ahmaad 448 38 - 486 443 65 - 508
183 Rao Muhammad Amjad Ghosabad Colony Ward# 55 St # 55 New Central Jail 3630293013189 Rao M Jamil 438 438 - 876 431 73 13 517
184 Sajid Naseer H# 42/b-s-1 Sheraz Park Ittehad Colony Samanabad L 3520275075105 Wajid Naseer Butt 483 28 - 511 476 48 10 535
185 Shahbaz Akbar H # 15 St # 1 Elahi Park Misri Shah Lahore 3520227998469 M. Akbar Malik 505 505 - 1,010 497 84 15 595
186 Shahid Mehmood 1 518-e, Taj Pura Scheme, Mughal Pura, Lahore 3120202214313 Mohammad Sadiq 456 19 - 475 632 36 - 668
187 Shehzad Munier House No 12-65 Hamza Ghous Pasrur Road Naika Pura 3460323312377 Muhammad Munier Raees 448 29 - 477 448 66 - 514
188 Sher Bahadar Mohallah Puran Nagar Street No 3 H No 3/295 Near J 3460316533479 Rana Shouqat Ali 448 29 - 477 448 66 - 514
189 Sumair Abbas Malik H # 211, St# 94 G-9/4 Islamabad 3740585189339 Altaaf Ali Malik (Late) 477 19 - 495 477 43 - 519
190 Syed Kazim Ali Naqvi H # D/1/ 6 Rabia Flower Nr Abul Hassan Isphani Rd 4250114994667 Syed Asad Naqvi 470 33 - 502 470 74 - 544
191 Syed Mujahid Hussain House 196 Blk E-2 Nr Wafaqi Colony Doctors Hospita 3520249739907 Syed Muhd Hussain Shah 624 29 - 653 624 65 - 689
192 Vakar Haider Farrukh House No B-4 Roomi Garden Plot # Fl-14 Khy E Roomi 4230128712829 Ahmed Hussain 461 57 25 543 461 100 31 591
193 Dilawar Hussain 96 Gulshan Block Iqbal Town Lahroe 3520290684909 Badruddin 289 289 - 578 291 291 22 604
194 Waqar Ahmed Abbasi H # Dk-922-h, Dhok Paracha Satellite Town Rawalpin 3740503345907 Muhammad Ishaq Abbasi 463 30 - 493 463 68 - 531
195 Yasir Sajjad H No 176 Hunza Block Allama Iqbal Town Near Akbari 3520229941223 Sajjad Hussain 506 506 - 1,012 498 84 15 598
196 Ali Rehman Al Rehman House Gharibabad 2 D Dalzak Road Peshawa 1710270609463 Mutabar Khan 467 12 - 479 467 39 49 555
197 Amjad Kamran H No 9 St No 1 Air Force Officers Housing Scheme F 3740594099597 Atta Ullah Qureshi 407 407 - 814 401 98 18 518
198 Anwar Ali Mohammad House No C74 /75 Behind Rangon Wala Hall Block 4 D 4220124681683 Ali Muhammad Umer 427 45 45 518 434 101 88 623
199 Atiq Ahmed Sheikh 73-a Lalazar Beach Luxury Hotel M T Khan Road Near 4240168340689 Muhammad Shafi 164 28 22 213 416 66 62 543
200 Chaudhary Munir Ahma H# 811 E Cvhs Canal View Houseing Soceity Lahore 3520225700373 Chaudhry Sultan Ahmad 438 36 29 502 438 94 42 574
201 Ejaz Ahmed Abbasi H# B Iv 1314 Abbasia Street Muslim Town Rawalpindi 3740505470339 Hukam Dad Abbasi 257 39 38 334 370 82 76 528
202 Irfan Daud &/or B 167 Block 18 Gulshan E Iqbal Karachi 4220141853923 Muhammad Iqbal 618 19 - 637 618 61 - 679
203 Jabran Munir Flat # 20-b Johar Block Saleem Garden Shahdra Nr J 3540142554605 Muhammad Munir 453 29 - 483 448 66 - 514
204 Liaqat Khan H # Zb-382, St # 8 Fauji Colony, Pir Wadhai Rawalp 6110166461365 Lalkhan 536 14 - 550 536 48 54 638
205 Mian Tanveer Asif H # 10 St # 4 Mian Mir Road Upper Mall Scheme Laho 3520175475331 Mian Muhammad Mushtaq 398 31 20 449 398 80 31 509
206 Muhammad Alam P-439 St#6 Mustafa Abad Bale De Jhugi Nr Sargodha 3310074417217 Muhammad Din 83 33 14 129 414 73 48 535
207 Muhammad Arif Plot No 11-c Flat 106 3rd Flr Moon Stone Appt 9th 4220103846169 Wali Muhammad 479 22 - 501 479 76 - 555
208 Muhammad Ashraf H # 1, Sohnay Shah St Muhammadia Chowk Baghban Pur 3520177941395 Muhammad Sheikh 477 477 - 954 474 82 15 571
209 Muhammad Hassan Khan D-31 Blk 6 F B Area Kh Nr Rangers Head Quators Kar 4210116616537 Muhammad Asif Khan 108 24 23 154 448 61 60 569
210 Muhammad Hussain Flat #303 Fatima Arcade Stadium Road 3rd Floor Bah 4220138040317 Ismail Moosa 356 45 62 463 356 94 95 546
211 Muhammad Ilyas H 54 Lda Block A Ghoisa Colony Nabi Pura Laal Pull 3520122582975 Fazal Dad Khan 735 21 - 756 735 72 51 858
212 Muhammad Maqsood House # N-257 Labour Square Site Rasheed Abad Nr H 4240140462977 Muhammad Yaqoob 448 19 - 468 448 66 - 514
213 Muhammad Siddique Plot No 11-c 2nd Floor Fl 104 9th Lane Zamzama Pha 1310194406807 Gul Zaman 483 22 - 505 483 77 - 560
214 Muhammad Yousaf H # 84 St # 4 Main Bazar Saddiqa Colony Khokhar Rd 3520201547243 Gulzar Hussain 481 24 48 553 437 49 106 591
215 Nasir Mehmood H#pd 153-c8 Muhalla Mehmood Abad Said Pur Road Pin 3740581119987 Feroz Din 494 26 16 536 494 92 60 646
216 Nizam Sabir P-344 Street# 8 Muzafar Colony Nawabanwala Near Bh 3310420765373 Saraj Din 496 496 - 992 493 85 15 593
217 Noor Mohammad Memon Flat 102 2nd Floor Plot 5-e 8 Lane Zamzama Commerc 4240151150309 Mohammad Ameen 53 16 10 78 479 59 20 557
218 Noor Mohammad Memon Flat 102 2nd Floor Plot 5-e 8 Lane Zamzama Commerc 4240151150309 Mohammad Ameen 483 22 - 505 483 77 - 560
219 Khawaja Muhammad Anwar H No 292-a Shamsa Abad Colony Usmani Wala Nr Chung 3630255561211 Khawaja Muhammad Farooq 1,477 32 - 1,509 1,456 123 - 1,580
220 Rehan Azhar Qureshi 21-a, Lane No 20 Sunset Lane Phase 02 Defence Kara 4210167649855 Azhar Muhammad Qureshi 355 33 30 418 355 82 65 502
221 Rizwan Mushtaq H-71 Block -b Gulshan Iqbal Colony Risalawala Road 3310065100825 Mushtaq Ahmad 465 22 - 487 465 74 - 539
83
84
(6+7+8) provided
1 2 3 4 5 6 7 8 9 10 11 12 13
222 Syed Muhammad Ali Plot 528 1st Flr 170-d Sector 617 Mahmoodabad Ubl 4210115478835 Nazim Ali 501 501 - 1,003 498 86 15 600
223 Tariq Mehmood St#10 P-105 Haseeb Sheed Colony Hilal Road Nr Barf 3520112409689 Haji Muhammad Amin 482 482 - 964 479 82 14 576
224 Tauqeer Ur Rehman Kh 107/106-b Air Avenue Housing Scheme Opp New Airpor 3520113952721 Aziz Ur Rehman Khan 451 48 32 531 476 110 74 661
225 Waqar Ahmed Bhatti E-1 Bilal Town Badian Road Lahore Cantt Lahore 3520116886691 Abdul Ghani Bhatti 702 20 - 722 702 69 34 805
226 Waseem H # 8 St No 16 Islampura Mukkan Pura New Shad Bagh 3520224829625 Mahmood Aslam Meer 503 503 - 1,007 500 87 15 602
227 Abrar Hussain House # R1-5/15 Kasba Colony Mangopir Road Karachi 4230160964899 Fayyaz Hussain 437 437 - 874 438 77 12 527
228 Aijaz Khan House # A-279 Shadman Town North Nazimabad Town Se 4210187584767 Bundoo Khan 475 44 18 537 475 114 50 639
229 Ali Ahmed H# 53/iii First Flr 33rd St Ph-v Ext Dha Near Muba 4230149487503 Ghulam Hussain 501 501 - 1,001 498 86 17 601
230 Amanat Ali Butt H#10 St#16 Beadon Road Lahore 3520253071741 Shokat Ali Butt 644 27 - 671 606 56 40 701
231 Amir Rafiq H# 5 Block B Model Town Lahore 3520252046455 Rafiq Ahmad 306 25 10 341 463 91 31 586
232 Anjum Jamil 12 Queen Rd Near Calteax Pump Lahore 3410165059999 Abdul Aziz 423 21 21 465 423 91 35 549
233 Asad Alam Niazi 86/1 Khayaban-e-seher Phase # 6 Dha Karachi 6110133756969 Tassadaq Hussain 498 33 9 540 494 93 24 611
234 Atiq Ahmed 73-a Lalazar Beach Luxury Hotel M T Khan Road Near 4240168340689 Muhammad Shafi 447 447 - 894 443 77 18 537
235 Ehsan Ali Naeem H# 310/12 Abdul Aziz Street # 3 Opp Shalimar Bagh 3310567402087 Ansaf Ali Qureshi 533 8 - 540 533 52 62 646
236 Faisal Jabbar House# 15 C Nisthar Block Allama Iqbal Town Lahore 3520262712901 Sheikh Muhammad Asghar 436 35 14 485 404 76 34 514
237 Farooq Hameed House 116 A Babar Block New Garden Town Lahore 3520256157383 Hameed Mirza 425 30 24 479 425 101 59 584
238 Humair Saleem Sehgal H# 01 Rabani Block Usman Street Kashmir Road Khaya 3310094064671 Qamar Saleem Sehgal 479 34 - 514 471 77 - 548
239 Ijaz Ahmed Awan H# 15-a-1 Sector Main Peco Rd Township Lahore 3520228037479 Ghulam Ahmad 384 34 37 455 434 99 54 587
240 Irfan Daud B 167 Block 18 Gulshan E Iqbal Karachi 4220141853923 Muhammad Iqbal 472 34 13 518 478 56 35 569
241 Jibran Ashraf Baig H No A-43 Long Life Banglows Blk 17 Gulistan E Joh 4220105965597 Muhammad Ashraf Baig 498 498 - 996 484 86 26 595
242 Kahkashan Dar Appartment # 207 Block A 1 City Block 13 D Gulshan 3520270594474 Kareem Buksh Dar 432 27 8 467 432 98 23 552
243 Kamran Haider 321 E Pia Housing Soceity Opp Wapda Town Lahore 3520268284743 Ghulam Hussain 448 19 - 468 443 65 - 508
244 Khawaja Safdar Rasheed H#a-10 3rd Floor Paposh Nagar Nazim Abad Altaf Mar 4210197849473 Khawaja Iqbal Ahmed 422 19 - 440 416 43 46 504
245 M Salman Ali H#1 Jamal Manzil Raghu Street Ramswami South Karac 3520227336585 Qasim Ali Qasim 493 493 - 987 493 83 14 590
246 Malak Muhammad Yaqoo 98-b1 Johar Town Cng Stop Lahore 3520240589705 Malak Faroz Din 463 30 27 520 463 108 74 645
247 Muhammad Aleem H # 23-a-sanda Khord Zahid Street 02 Sanda Khord N 3520291701297 Muhammad Idrees 212 19 25 256 476 82 87 644
248 Muhammad Arif Plot No 11-c Flat 106 3rd Flr Moon Stone Appt 9th 4220103846169 Wali Muhammad 78 17 14 109 491 73 59 623
249 Muhammad Awais Flat # 4 Jamshad Arcade Jamshad Rd 1 New Town Masj 4220192965337 Mohammad Qasim 188 20 23 231 414 65 40 519
250 Muhammad Iftikhar Ja Al Mumtaz House # 54-b St # 4 Muslim Rd Samna Abad 3520069512331 Rana Zulfiqar Ali Mumtaz 443 38 29 510 443 97 67 607
251 Muhammad Ishtiaq Ahm House#r-76 Sec 11-c2 Sir Syed Town North Karachi N 4210117131175 Allah Diya 45 13 4 62 455 58 13 525
252 Muhammad Khalil Garjakh Near Qazafi Rd Gali # 2 Mohallah Kareem Pu 3410177091393 Muhammad Rafique 524 15 - 539 513 49 30 592
253 Muhammad Naeem H-169- A/2 Gulberg 3 Near Fedex Lahore 3520172547795 Choudary Noor Muhammad 429 17 8 454 429 87 26 542
254 Muhammad Saleem House 42 Yousaf Colony Chaklala Sch 3 Street 3 Raw 3740544832715 Karam Dad 455 12 - 467 442 37 59 538
255 Muhammad Sikandar P-89 St# 9 Canal Side Near Guro Nanak Pura Faisala 3310007971807 Muhammad Hussain 465 22 - 487 461 73 - 533
256 Muhammad Yasin H# A15/5 Rabia City Blk-18 Gulistan-e- Johar Karac 4220112132725 Haji Muhammad Hashim 536 8 - 544 536 52 49 638
257 Muhammad Younus Flat # A-17 3rd Floor Star Hight Blk # 22 F B Area 4210119378863 Muhammad Ismail 473 15 - 488 468 50 - 517
258 Muhammad Zia H.no.b-281, Sect-35a, Zaman Town Korangi No.4, Nea 4220174950441 Muhammad Salim Akhter 458 49 - 507 438 64 - 502
259 Parvaiz Paul Nr Ayesha Masjid Fateh Garh Mohallah Tahir Town Si 3460386586999 Khadim Masih 443 19 - 462 438 64 - 502
260 Qasim Ali Shah H # B 52 Fb Area Block 13 Karachi 4200088438713 Bunyad Ali Shah 231 37 30 298 424 83 54 561
261 Rashid Ud Din R-880 Sector 9 North Karachi Karachi 4210126135159 Razi Ud Din 484 16 14 514 484 95 64 644
262 Salman Ahmed A-174/1 Block-8 K A E C H S Karachi 4200004663943 Iqbal Ahmed 263 27 15 305 478 89 45 611
263 Shakeel Ahmed House 10 Qatra Rahmat Rd Sanda Kalan Nr Wapda Offi 3520279164585 Ghulam Rasool 474 11 - 485 474 75 - 549
264 Shehzad Dero 11-c Flat 106 3rd Flr Moonstone Appt Zamzama Comm 4130651109689 Ghulam Muhammad 96 10 14 121 417 58 52 528
265 Syed Masood Nasir Fa Hno. L-303 North Karachi Sector 5-c/2 Karachi 4210146958501 Syed Nasir Saeed 43 15 15 72 401 62 47 510
266 Syed Muhammad Ali Plot 528 1st Flr 170-d Sector 617 Mahmoodabad Ubl 4210115478835 Nazim Ali 499 30 7 536 499 111 20 630
267 Wajid Ali 94 Raza Blk Allama Iqbal Town Near Usman Masjid La 3520015487569 Molla Buksh 421 22 16 459 421 80 57 558
268 Zafar Niaz Ahmed Kwt#151, Upper Story, Opp. Darbar Jhund Pir, Old S 3630262713121 Niaz Ahmed Khan 499 499 - 998 498 79 15 592
269 Zahid Bashir House # B-1-1010/8 Moh Zia Ul Islam Ward # 4 Near 3420135345357 Muhammad Bashir Ahmad 443 11 - 453 443 69 - 512
270 Abdul Qadeer Sheikh House# R-85 Sector 50b So Quartors Korangi 5 1/2 K 4220172992725 Abdul Saleem Sheikh 29 17 7 52 467 75 55 597
271 Abdul Razzaq 288 Badar Block Allama Iqbal Town Nargis Block Lah 3110417000789 Nazir Ahmed 308 39 51 398 389 120 91 599
272 Adeel Ahmed Khan H# 6-a Phase 01 Dha Lahore 3520278713423 Rais Ahmed Khan 949 16 - 965 939 106 - 1,044
273 Akif Manzoor D-93 Bazar Area Malir Cantt Karachi 4220106729637 Manzoor Hussain Akhtar 445 445 - 890 444 78 14 535
274 Ali Raza P-37 X-13 Susan Rd Madina Town Mustafa Masjid Fais 3310095242197 Tofail Muhammad 107 15 21 143 461 67 39 568
275 Attique Ur Rehman H# L-2697 Blk-2 Metrovile#3 Gul-e-hijri Sch#33 Nr 4540129170129 Muhammad Hafeez 657 28 - 685 599 55 61 715
276 Azam Javid H # 27 V St # 4 Rasheed Park Schme More Multan Roa 3520298085499 Muhammad Thrail Farooqi 103 8 1 112 441 69 24 534

(6+7+8) provided
1 2 3 4 5 6 7 8 9 10 11 12 13
277 Farooq Syed Shah 291/7 Jehlum Line Iqbal Camp Paf Base Malir Cant K 8220307380429 Ilam Shah 195 15 10 220 407 75 27 509
278 Farukh Haroon Sabir H No 301/4 Lane # 2 Sadiq Town Adyala Road Rawalpi 3740579081527 Muhammad Sabir 279 23 36 339 457 92 61 610

279 Farzana Mufti House #184 Street 36 Khy Itehad Phase 6 Dha Karach 4230128344916 Faisal Sultan Mufti 234 20 51 305 404 88 116 608
280 Hussain Ali Khan A-148 Block No. 2 Gulshan E Iqbal Karachi 4220104310769 Mohammad Ali Khan 309 21 31 361 446 94 61 601
281 Irfan Shoukat Adda Mohlanwal 23 Km Multan Road Near Shafiq Genre 3520275171981 Shoukat Ali 444 16 10 471 444 100 34 578
282 Kanwar Zohaib House#2648/9, Justice Hameed Colony, Nishter Road 3630234477313 Kanwar Khalid Akhtar 501 501 - 1,003 491 88 24 604
283 Khawaja Fakhar Uddin P-1 Darbar Chishtia Chak # 108 G.b Soni Di Khui Fa 3310421711969 Tariq Wali 398 8 10 416 398 87 56 541
284 Meesam Abbas H No 670 N Block Samanabad Pak Thathi Stop Lahore 3520264684969 Asif Ali 499 499 - 997 500 87 15 602
285 Mehmood Ul Hassan 117- Bilal Street Mustafa Town Lahore 3520115497675 Muhammad Rafique 681 29 - 710 657 65 42 764
286 Mian Tariq Masood Kh 183-a Pcsir Housing Society New Campus Lahore 3520223810467 Masood Akhtar Khan 466 - - 466 499 106 61 666
287 Muhammad Afzal P-1127 1126 203-rb Manawala Hussaini Mohalah Nr Dr 3310073892771 Haji Naseer Ahmad 453 20 - 473 443 65 - 508
288 Muhammad Aslam H.no # 201-b Blk-4 Saadi Town Street-6 Malir Ca 3520266561473 Masood Ul Haq Siddiqui 470 1 8 479 470 105 69 643
289 Muhammad Farooq H No 8 Blk 9 Sec 11-d New Karachi Nr Junajo Jamat 4200085871277 Mohammad 393 32 23 448 480 97 81 658
290 Muhammad Intizaar H-5/33 St-2 Joyashah Road Sanda Kalan Road Lahore 3520230068431 Muhammad Iqbal 469 26 13 508 469 118 71 659
291 Muhammad Kashif Arif 251 Nargis Block Allama Iqbal Town Lahore 3520294977221 Arif Mehmood 399 13 4 416 399 91 20 510
292 Muhammad Kashif Arif 251 Nargis Block Allama Iqbal Town Lahore 3520294977221 Arif Mehmood 439 439 - 878 440 80 14 533
293 Nadeem Mushtaq House No 2 Plats No 73/2 Al Safa Appt Beigam Ayesh 4230154141421 Mushtaq Ahmed 230 12 3 245 399 78 31 508
294 Qadeer Ahmad Albani H # 24/4a St # 5 Alfazal Park Sanda Lahore 3520267919297 Maqsood Ahmad 282 16 48 346 324 75 104 502
295 Rahat Hussain R-238 Sector # Z-6 Gulshan E Maymar Masjid Nr Mamo 4250161300331 Muhammad Zaman Khan 101 16 8 125 457 74 23 554
296 Reahan Saeed H # 71-a Kamran Park Misri Shah Lahore 3520230846037 Saeed Ahmad 499 499 - 997 498 87 15 600
297 Saleem Jahangir H# Na-291-a New Mulpur Sattelite Town Rawalpindi 3740535560425 Ch. Chiragh Din 341 55 38 433 406 120 107 632
298 Shafqat Hasnain H # 2035 Haidria Committee Shah Shakoor Alang Daul 3630235123439 Hasnain Ahmed 448 448 - 896 449 79 12 540
299 Shahina Nawaz 18/1 White House Lane # I Sundar Das Road Lahore 3520224379496 Ahmed Nawaz Rana 125 3 - 128 502 69 35 605
300 Sultan Ahmed P-75 Liaqat Road Opp Police Line Faisalabad 3310073996703 Fatch Muhammad Chaudhary 442 442 - 884 433 66 20 520
301 Syed Shaukat Raza Za House No. B-17 F.b Area Blk-20 Karachi 4210105948363 Syed Shahid Hussain 461 25 29 515 457 114 67 638
302 Tariq Mahmood Khan House No O-353 Street No 2 Kartarpura Saidpur Road 3740579788279 Abdul Latif Khan 482 17 5 505 482 111 21 614
303 Yasir Munir Chaudrhr 212 Madina Block Awan Town Lahore 3520225700363 Chaudhary Munir Ahmad 374 12 12 398 374 86 60 520
304 Zillur R. Khan Lodhi A-19 Gallant Summit Block 11 Ghulshan-e- Iqbal Kar 3520259883323 Zaka Ur Rahman 499 499 - 998 498 80 15 593
305 Zillur Rahman Khan L A-19 Gallant Summit Block 11 Ghulshan-e- Iqbal Kar 3520259883323 Zaka Ur Rahman 93 8 2 103 495 65 59 619
306 Aijaz Ali H# 0=99-c 1st Floor 9th Commerical Street Phae-4 D 4230111143643 Choudhry Ali Ahmed 501 501 - 1,002 494 88 22 603
307 Asif Iqbal Sehgal Plot # 85-c Flat # 1 Khayaban-e- Jam Dha Phase 7 G 4230159683455 Mohammad Iqbal Anwar Sehgal 475 475 - 950 479 83 15 577
308 Chaudhry M. Hussain H # H344 Garden College Road Garden College Road R 6110172855287 Chaudhry Karm Baksh 420 420 - 840 442 78 13 533
309 Haroon Suleman R-30 Khayaban E Tanzim Phase 05 Dha Karachi 4230110537859 S M Suleman Aziz 466 37 32 535 443 76 50 569
310 Iqbal Munawar Hno S-b-67 Blk 13c Flat No A-3 2nd Flr Naz Arcade 4220127820287 Munawar Hasan 443 - - 443 438 64 - 502
311 Khurram Ali H # 73/1/1 Lane #16 Phase-7 Dha Karachi 4230101504033 Javaid Shafi 377 14 13 404 371 91 71 532
312 Latf Ullah Sheikh 617-a Nargis Block Allama Iqbal Town Lahore 3520294180453 Sheikh Muhammad Islam 127 17 17 161 400 63 41 504
313 Majno Khan Khaskheli Po Talti Taulka Sehnan Dist Dadu Hyderabad 4120688645955 M Usman 441 12 - 453 428 41 45 514
314 Malik Ghulam Mujtaba House # J-413 Street # 8 Umer Road Near Aleem Mode 3740506489403 Malik Ghulam Mustafa Awan 215 11 20 245 437 81 81 599
315 Jawad Ghulam Rasool 116 M A/2 Pechs Block 2 Karachi 4220107839185 Khuaja Ghulam Rasool 1,520 - - 1,520 518 - - 518
316 Masood Ahmed Raja Tanrad Po Puna Thess Dist Bimber Mirpur (Azad Kash 8130249996861 Raja Fazal Dad Khan 501 22 - 523 450 33 26 509
317 Mughis Anwar 169-2 Dha Lahore 3520136347585 Sheikh Muhammad Anwar 421 - 0 421 421 84 21 525
318 Muhammad Iqbal Tariq H No G 460 Ugoki Model Town Near Imran Butt Chakki 3460313150941 Tariq Mehmood 448 - - 448 443 65 - 508
319 Muhammad Ishaq H # Po 426 C Link Rd New Town Rawalpindi 3320212547495 Allah Ditah 454 6 - 460 428 35 40 503
320 Muhammad Munir Ali Flt # F-56 4th Floor Jatpur Plaza Amir Khusro Road 4210151082377 Alio Muhammad Bawany 303 2 6 311 481 93 48 622
321 Shahid Mehmood P-1324 St # 2 Main Bazar Mansoor Abad Faisalabad 3310074937247 Muhammad Ramzan 1,326 - 1 1,327 351 140 18 510
322 Syed Arif Raza H # No R 1402 Fb Area Block 8 Karachi 4210185916865 Syed Mohsin Raza 280 28 22 330 406 100 82 588
323 Syed Rehan Shah B9 Farhan Square Sector 15a5 Bufferzone North Nazi 4210145247343 Syed Mehboob Shah 190 11 18 219 432 77 46 555
324 Abdul Razzaq H # 405 D Sir Syed Town Opp Flat Block-2 Faisalaba 3310065786379 Abdul Rasheed 421 421 - 841 420 74 13 507
325 Abdul Sami Saggu H # 20 Askari Villas Chaklala Sheme # 3 Rawalpindi 3740517257921 Abdul Qayyum Saggu 283 74 45 402 342 137 117 597
326 Abdul Sattar H # A-33 Abdullah Blessign Qasimabad Hyderabad 4130601125149 Darya Khan 622 35 - 657 573 56 43 673
327 Adnan Ali Kayani House No 189 Street No 55 Sector G-7/2-4 Islamab 6110119645489 Raja Mazhar Ali Kayani 401 11 24 436 401 79 67 548
328 Agha Farrukh Raheem H # 14 St #63 Chamber Lain Rd Gawal Mandi Lahore 3520261049495 Agha Rahim Udin Ahmed 478 17 7 501 463 109 37 609
329 Arshad Mehmood Kiyani H No 65 Arshad Manzil Street Mistaryan Jhelum 3730122101979 Mian Abdul Waheed 450 - - 450 437 44 40 521
330 Mohammad Afzal Rinch A-203 63/15 Al Rehman Cottage Bahadurabad Karachi 4220154967773 Wali Mohammad Ringh 3,147 212 - 3,359 247 489 - 736
331 Ehtisham Ahmed Khan H# 46 Street 30 Khy-e-mujahid Phase 5 Dha Karachi 4210133756633 Ehtram Ahmed Khan 30 14 2 46 411 101 28 540
85
86
(6+7+8) provided
1 2 3 4 5 6 7 8 9 10 11 12 13
332 Jabar Hussain Turabe H # Biv-451 Makki Street # 4 Muslim Town Rawalpind 3740583573151 Amanat Hussain Turabi 414 8 17 439 416 100 31 546
333 Kamran Lodhi 29-a Modal Town Lahore Lahore 3520252563645 Akhtar Qadeer Khan 381 5 66 452 366 86 70 522
334 Mian Muhammad Adnan P-1238 D Type Colony Faisalabad 3310010250169 Mian Muhammad Saleem Iqbal 499 499 - 997 494 89 15 599
335 Mohammad Aslam 9-b Ii 5th Comm Street Phase #iv Dha Karachi 4230186130237 Muhammad Ilyas 323 14 8 345 468 92 42 602
336 Muhammad Ahsan Jameel House#445/1-b/1, Suraj Miani Rd Chungi#1,nr. Dr.ha 3630217606333 Jameel Javed 501 501 - 1,003 490 81 13 583
337 Muhammad Aslam 9-b Ii 5th Comm Street Phase #iv Dha Karachi 4230186130237 Muhammad Ilyas 441 441 - 882 451 80 12 542
338 Muhammad Imran Suit # 3 Siraj Palace Abdali Chowk Islam Pura Laho 3460108873885 Chuadharyzafar Iqbal 13 - 0 14 446 61 25 532
339 Muhammad Nasir Khan H # 180-a Near Jamia Masque Afzal. Afzal Town.nr G 3740502693371 Muhammad Aslam 705 30 - 735 658 65 57 779
340 Muhammad Saleem 5 Mahi Lal Street Nila Gumbag Islamabad 4230182812409 Muhammad Ismail 135 10 12 158 512 82 34 628
341 Muzammil Hussain Sha House #9/1 Iqbal Anwar St Pir Ghazi Rd Ichra Lahor 3520224974169 Walayat Shah 458 - - 458 499 107 27 632
342 Naveed Ur Rehman Sha House # 92 Street # 6 Askari Nine Zarar Shaheed Ro 3520254244687 M A R Sharif 384 25 17 425 381 93 34 509
343 Shahzad Munir House No 12-65 Hamza Ghous Pasrur Road Naika Pura 3460323312377 Muhammad Munier Raees 273 8 2 282 476 98 25 599
344 Shahzad Rasheed H # 3605/e Railway Rd Mohallah Nazar Abad Colony M 3630206041851 Abdul Rasheed Rahi 432 34 17 483 432 56 37 526
345 Sheikh Muhammad Ayub H# 1 Mohallah D2 Block Gulshan Ravi Lahore Lahore 3520298815365 Sheikh Muhammad Ismail 454 - - 454 439 44 43 527
346 Syed Zulfiqar Ali H # 5 Rehman Street # 6 88- Railway Road Brandreth 3520239809721 Syed Ikhtiar Ali 203 13 15 231 360 86 71 517
347 Taseer Ahmed 68-a Opp Rabi Centre Satellite Town Rawalpindi 3740114026479 Muhammad Iqbal 384 2 16 402 402 108 56 566
348 Tauqir Hussain H # 32 St # 03 Khayaban E Tanveer Chaklala Sch 3 N 3740533105661 Mazher Hussain 124 9 1 134 479 77 43 599
349 Walayat Shah H#9/1 Iqbal Anwar Street Hamid Ali Park Peer Ghazi 3520223326521 Sardar Shah 454 - - 454 468 99 26 592
350 Zahid Mahmood 255 Z Dha Lahore 3520260756393 Haji Muhammad Shafi 450 15 0 466 494 114 27 635
351 Zameer Ahmad Hous # 141 A Block A Johar Town Lahore 3520123812653 Choudry Nazeer Ahmad 473 - - 473 463 59 - 522
352 Abdul Qayum Madina Colony Near Jhoolay Lal Kabar Khana Chung L 3520226948763 Muhamad Shafi Mian 571 - - 571 542 53 43 638
353 Abdul Razzaq House Nw-215 Street No 9 Mohallah Raja Sultan Near 3740577765353 Khushi Muhammad 693 - - 693 665 66 50 781
354 Ahmad Iqbal House No 535/2-e Block Punjab Coorporative Society 3520228968287 Ramooz Iqbal 497 497 - 994 499 92 19 610
355 Arshad Ali H # 2 Block # 7 Rana Mkt. F-7/2 Islamabad. 6110190354531 M Yousaf 447 15 3 466 442 98 32 572
356 Ayub Khan Appt No 302 3rd Flr Pl No 34-c Bukhari Comm Lane 7 4230113234785 Hussain Ahmed Khan 403 9 2 414 472 86 27 585
357 Hussain Ehtsham 79-b Air Avenue Housing Scheme Opposite New Air Po 3530219438965 Ch Abid Hussain 210 8 5 224 477 72 36 585
358 Jabbar Ahmad Main Lehtrar Road Near Badar Masjid Tarlai Islamab 6110127165735 Abdul Majeed 499 499 - 998 498 90 15 603
359 Muhammad Iqbal H # 1 Street # 3 Shama Park Multan Road Lahore 3520291680209 Muhammad Ibrahim 455 - - 455 434 44 51 529
360 Nadeem Rauf Hno 9/225 Mohallah Islam Pura Near Sweet Palace Si 3460344029633 Abdul Rauf Bhatti 362 12 4 377 391 91 27 509
361 Saqib H#p- 530 Block A Mohalla Gm Abad Nr Latif Chowk Fa 3310099795625 Abdul Ghafoor 390 390 - 781 498 95 17 609
362 Sheikh Muhammad Saeed H# 74 Karam Park Near Tanveer Gilrs School Lahore 3520267281161 Sheikh Muhammad Sardar 703 - - 703 675 62 64 801
363 Syed Usman Ali H # 438/5 G Rasheed Street Tench Bhatt Rawalpindi 3740503185987 Syed Farhat Hussain Shah 489 489 - 979 489 89 15 593
364 Tasawar Iqbal H # 484 St 3 Madina Olony Lahore 3520231180405 Jalal Din 485 22 - 507 461 48 52 561
365 Amjed Bashir P-36-e Extension Muslim Town # 1 Nr Medical Colleg 3310217473557 Bashir Ahmed 396 55 52 503 327 99 140 566
366 Arbab Shah Jahan Khalil H # 234/5, Allam Iqbal Road, St # 8 Kamalabad Near 3740512400311 Arbab Haji Hazrat Gull 491 - - 491 450 44 34 528
367 Asad Ali H No B 595 St No 1 New Mohallah Liaqat Road Rawalp 3740503813713 Abdul Wahid 234 11 1 246 402 94 41 537
368 Asad Syed Reza Flat No 806 Park Tower F 10/3 Islamabad 9150901460121 Syed Huzur Nawab 118 0 3 121 489 91 33 613
369 Imran Hussain H#921subhan St#kashimir Pura Pesh Multan 1730167712879 Ghulam Hussain 541 32 - 573 490 49 53 593
370 Imtiaz Ahmed Awan 10 Kaar Daar Park Mohni Road Lahore 3520230449663 Ghulam Begum 427 71 34 532 388 152 95 634
371 Irfan Mushtaq Flat # 13 Nadeem Pride Phase # 2 Blk 13d2 Gulshan 4220152852237 Mushtaq Ahmed 127 4 0 131 418 97 24 539
372 Jabbar Ahmed Main Lehtrar Road Near Badar Masjid Tarlai Islamab 6110127165735 Abdul Majeed 290 0 0 290 487 95 29 611
373 Kamran Aijaz Qureshi H 61/2 Lane A24 Phase 7 Defenc Ekh E Badban Karach 4200004974953 Aijaz Qureshi 450 450 - 899 451 78 12 541
374 Khawaja Kashif Ikram H# 342/15 Tariq Abad Rafi Road Lal Kurti Rawalpind 3740567492407 Khawaja Muhammad Ikram 693 - - 693 655 65 47 767
375 Majid Younas Rana H # E-872 St # 2 Sec 3 Khayaban E Sirsyed Nr Shell 3740506767633 Muhammad Younas 744 10 - 754 694 64 54 812
376 Malik Safeer Ahmed H # 65 Friends Colony Misrail Rd Rawalpindi 3740510870417 Malikshabir Ahmed 557 8 - 565 524 53 52 629
377 Mazhar Nawaz Khan Ni 2 Allah Bukhsh Colony Shamsabad Colony Near Bismil 3630242219969 Muhammad Nawaz Khan Niazi 382 35 19 435 379 76 56 512
378 Mohammad Adnan Haris A-14 Block B Pbs Society North Nazimabad Karachi 4200005073305 Khalif Ullah Amir 971 45 - 1,016 798 79 - 878
379 Mohammad Haseeb Ur R H # E-71 Block # 4 Near Pateel Hospital Gulshan E 4220104140081 Muhammad Habib 8 7 - 14 495 74 19 589
380 Mohammad Iqbal Floor No5th Jedahh Centre St 5 Dehli Colony No1 Ka 4230197222743 M. Mutaqeem - - - - 445 77 13 536
381 Mohammad Riaz Plot 0-t9/96-97 Rasheed Manzil 1st Flr Tanki 2 Kag 4230189807805 Abdul Razzaq (63) - - (63) 489 77 33 599
382 Moin Id Din Sheikh H # 121 St # 4 Phase # 1 Educator School Near Guls 3520204623001 Charagh Din 488 - - 488 459 46 26 531
383 Muhammad Asif H No 8 -5-86 C Asifamir Manzil Al Habib Park Near 3520212726523 Sheikh Abdul Wahab 83 8 0 92 452 68 35 554
384 Muhammad Ijaz Anjum H No 225/226 B Block New Chubergi Park Lahore 3520273186469 Muhamamd Hafiz Anjum 393 15 9 417 386 88 32 506
385 Nadeem Irshad P-1752 Near Choudhary Medical Store D Type Nr Chou 3310073944467 Muhammad Irshad 496 496 - 991 498 84 15 597

(6+7+8) provided
1 2 3 4 5 6 7 8 9 10 11 12 13
386 Nisar Ahmed House No 132 Lane No 3 Gulistan Colony Rawalpindi 3740504542773 Muahmmad Qasim Khan 696 20 - 716 638 63 40 741
387 Shahid Iqbal P-898 St # 14 Liaqat Abad # 2 Faisalabad 3310098273219 Muhammad Iqbal Bhatti 89 3 9 101 436 73 36 545

388 Sheikh Liaqat Ali 241-b Sarwar Road Cantt Lahore 3520115193555 Sheikh Lal Muhammad 479 31 13 522 444 87 53 584
389 Sohail Yaqoob H # 429 Block 4 Sector B-1 Town Ship Lahore 3520218746711 Muhammad Yaqoob Khan 344 344 - 688 451 80 16 546
390 Aftab Hussain House A 143 North Nazimabad Block L Karachi 4210116872113 Altab Hussain 494 18 3 515 492 115 36 643
391 Rohail Rasheed Khan H # 489 B St #9 F 10/1 Islamabad 6110133404243 Abdul Rashid Khan 545 545 - 1,091 480 480 - 959
392 Behzad Hussain Shah H No 47, St No 17, Mohalla Chaklala Scheem Iii Raw 3740568530893 Munir Hussain Shah 703 10 - 713 645 59 57 761
393 Ejaz Ahmed Flat #3 Wahid Build Al-rehman Ubl N.j Modi St I.i 4220104893031 Muhammad Azad 349 349 - 697 485 88 16 589
394 Hussain Sabri H. No. 594 St. No.14 G-10/1 Islamabad. 6110147510481 Mohammad Sabri 676 11 - 687 484 42 - 526
395 Kamran Aijaz Qureshi H 61/2 Lane A24 Phase 7 Defenc Ekh E Badban Karach 4200004974953 Aijaz Qureshi 42 8 0 50 497 70 36 603
396 Mohammad Rizwan Sial House No 323 Block Ee Phase 4 D.h.a. Lahore 3520179291479 Mohammad Ismail Sial 89 6 0 95 470 76 26 572
397 Mohsin Ali Raza 2-commercial Area 2nd Floor Defence Gate Near Enam 3410423579231 Syed Nisar Ali Shah 499 499 - 997 498 90 21 608
398 Muhammad Askari House No B 105 Block 13 Gulistan-e- Jauhar Karachi 4210116699069 Syed Taqi M Naqvi 474 19 27 520 484 132 85 701
399 Muhammad Iqbal Floor No5th Jedahh Centre St 5 Dehli Colony No1 Ka 4230197222743 M. Mutaqeem 45 - 0 46 461 70 26 557
400 Muhammad Nadeem Asla H# 57 /4-a-2 Township Lahore 3520268734655 M. Aslam 34 6 0 41 478 79 33 589
401 Muhammad Saleem H #54-a Qazi Town Kharak Multan Road Lahore 3520295759681 M Siddique 450 450 - 899 451 81 17 548
402 Muhammad Shaban Khok H# 3 Abu Bakar St Makhdoom Abad Chungi Amar Sidhu 3520188094705 M Arif Khokhar (0) - - (0) 517 84 37 638
403 Muhammad Shahbaz Plot #951-a 2nd Floor Street #4 Block #c Near Par 4240186089309 Muhammad Khan 485 485 - 970 498 90 18 605
404 Muhammad Shoaib Fl# 601 Zainab Hajiyani Kharadar Farooqi Masjid K 4230112735265 Abdul Lateef 453 3 14 470 469 114 49 632
405 Nisar Ahmad Mushtaq 89- Macloed Road Lahore 20 Tagore Road Lahore 3520284752663 Mushtaq Ahmad 271 - - 271 476 82 40 598
406 Noor Mohiuddin Ahmed Flat No 702-b Royal Apt Kda Scheme #1 Karsaz K 4220175579117 Nasir Uddin 420 420 - 840 447 71 16 533
407 Pasha Anthany H # 1478/e Nadeem Manzil Alamgir Road Lalkurti Raw 3740590238233 Rasal Youait 472 472 - 944 500 90 16 606
408 Urangzaib House No 404 Mohallah Ziarat Wali Mohd Nothia Jade 1730115579293 Juma Khan 566 - - 566 531 53 37 621
87
Islamic Banking Business Annexure-2
2009 2008
Rupees in ‘000
The Bank is operating 03 Islamic banking branches at the end of current year.

Assets

Cash and balances with treasury banks 120,272 63,056
Balances with and due from financial institutions - -
Investments 588,089 50,000
Financing and receivables - net off specific provision
- Morabaha 365,832 332,278
- Ijara 51,457 82,178
- Musharaka - -
- Diminishing musharaka 391,325 286,833
- Salam - -
- Other Islamic modes - -
- General provision (5,310) (3,705)
Other assets 158,150 143,894
Total Assets 1,669,815 954,534
Liabilities

Bills payable 786 1,743
Due to financial institutions 500,000 -
Deposits and other accounts - -
- Current accounts 158,899 141,344
- Saving accounts 162,766 106,940
- Term deposits 463,568 296,428
- Others 18,906 24,208
- Deposit from financial institutions - remunerative - -
- Deposits from financial institutions - non-remunerative - -
Due to head office 210,000 160,000
Other liabilities 50,162 82,518
1,565,087 813,181
Net assets 104,728 141,353

Represented by

Islamic Banking Fund 308,000 270,000
Reserves - -
Unappropriated loss (211,780) (128,647)
96,220 141,353
Surplus on revaluation of assets 8,508 -
104,728 141,353

Remuneration to Shariah Advisor 1,740 3,320

CHARITY FUND

Opening Balance 1,686 1
Additions during the period 5,568 1,685
Payments / Utilization during the period (1,686) -
Closing Balance 5,568 1,686

Islamic Banking Business Annexure-2
2009 2008
Rupees ‘000
Mark-up/return/interest earned 155,663 73,447

Mark-up/return/interest expensed 96,933 44,515
Net Mark-up/ Interest Income 58,730 28,932

Provision against non-performing loans and advances 7,176 19,123
Provision for diminution in the value of investments - -
Bad debts written off directly 2,140 -

9,316 19,123
Net Mark-up/ Interest Income after provisions 49,414 9,809

NON MARK-UP/INTEREST INCOME
Fee, commission and brokerage income 4,295 3,602

Dividend income - -
Loss from dealing in foreign currencies (31) (643)
Other Income - (41)
Total non-markup/interest Income 4,264 2,918
53,678 12,727
NON MARK-UP/INTEREST EXPENSES

Administrative expenses (135,046) (91,381)
Other provisions/write-offs - -
Other charges (1,765) (8)
Total non-markup/interest expenses (136,811) (91,389)
LOSS BEFORE TAXATION (83,133) (78,662)

Taxation - Current - -
- Prior year - -
- Deferred - -
- -
LOSS AFTER TAXATION (83,133) (78,662)

Unappropriated profit brought forward (128,647) (49,985)
ACCUMULATED LOSS CARRIED FORWARD (211,780) (128,647)


Pattern of Shareholdings as on December 31, 2009
Number of Shareholding Total Number of Percentage of

Shareholders From To Share Held Total Capital
777 1 100 37,215 0.0022
1,620 101 500 465,244 0.0271
790 501 1000 635,921 0.0370
2,108 1001 5000 3,990,943 0.2323
147 5001 10000 1,062,276 0.0618
45 10001 15000 554,960 0.0323
29 15001 20000 500,512 0.0291
14 20001 25000 314,218 0.0183
7 25001 30000 185,448 0.0108
3 30001 35000 99,473 0.0058
2 35001 40000 77,100 0.0045
1 40001 45000 44,821 0.0026
3 45001 50000 142,647 0.0083
4 55001 60000 230,001 0.0134
1 60001 65000 64,000 0.0037
1 65001 70000 65,061 0.0038
1 70001 75000 74,850 0.0044
2 95001 100000 200,000 0.0116
1 110001 115000 111,198 0.0065
1 125001 130000 126,362 0.0074
1 150001 155000 153,600 0.0089
1 230001 235000 234,939 0.0137
1 1500001 1505000 1,502,711 0.0875
1 1707105001 1707110000 1,707,107,891 99.3671
5,561 1,717,981,391 100.0000

Category of shareholding as on December 31, 2009
No. of Shares %age of

S.No. Category
shareholders held Capital
1 Individuals 5,457 8,702,117 0.5065

2 Investement Companies 10 78,446 0.0046

3 Insurrance Companies 2 1,509,817 0.0879

4 Joint Stock Companies 77 492,679 0.0287

5 Financial Instituations 9 1,707,165,982 99.3705

6 Modaraba Companies 2 15,765 0.0009

7 Mutual Fund 4 16,585 0.0010

TOTAL 5,561 1,717,981,391 100.0000
Disclosure to pattern of shareholding as on December 31, 2009
Shares %age of
held Capital
Associated Companies, Undertakings and Related Parties Nil Nil

NIT & ICP

INVESTMENT CORPORATION OF PAKISTAN 200 0.0000

Directors, CEO and their Spouse and minor Children Nil Nil

Executive 13,570 0.0008

Banks, Development Finance institutions, Non-Banking Finance
Institutions, Insurance Companies, Modarabas and Mutual Funds 1,709,343,274 99.4972

Public sector companies & corporations Nil Nil

Shareholders holding ten percent or more voting interest

M/s. ABN AMRO N.V Amsterdam 1,707,107,891 99.3671

KARACHI
Main Branch
16, Abdullah Haroon Road.
UAN: (021) 111-11-22-33
Fax: (021) 3568 3432
Abdullah Haroon Road

State Life Building No. 11,
Abdullah Haroon Road.
Tel: (021) 3568 4525, 3568 2639 & 3568 3981
Fax: (021) 3568 3975
I. I. Chundrigar Road
Nadir House, I.I.Chundrigar Road.
Tel: (021) 3241 8487, 3241 8300 - 9
Fax: (021) 3241 8485
Zamzama
13 - C, 7th Zamzama Commercial Lane,
Phase V, D.H.A.
Tel: (021) 3587 5323, 3587 5401
BRANCH Fax: (021) 3587 5404
Defence
NETWORK
World Business Centre,
Main Korangi Road, Phase I, D.H.A.
Tel: (021) 3580 5182, 3580 5170 - 9
Fax: (021) 3580 5180
Shahrah-e-Faisal
Progressive Centre,
Shahrah - e - Faisal.
Tel: (021) 3438 9573 - 7
Fax: (021) 3453 5170
Shaheed-e-Millat Road -
Islamic Banking
SNP, A / 6 - A 1, Commercial Area,
Karachi Cooperative Housing Society
Union Ltd., Union Area,
Shaheed - e - Millat Road.
Tel: (021) 3431 2585, 3439 8355 - 7
Fax: (021) 3431 1658
Cloth Market
Cloth Market, New Naham Road,
Off M. A. Jinnah Road.
Tel: (021) 3247 2704, 3247 2616 - 9
Fax: (021) 3247 2595

Jodia Bazar Federal B Area
NP 12 / 74, Mohammad Shah Street, C-25, Block 17.
Jodia Bazar. Tel: (021) 3680 0693, 3680 0342 - 3
Tel: (021) 3253 3976, 3252 2225 - 9 Fax: (021) 3680 0344
Fax: (021) 3252 2224
Gulistan-e-Jauher
Khy-e-Shahbaz Billy’s Heights, KDA Scheme No.36.
43 - C, Khayaban-e-Shahbaz, Tel: (021) 3402 6833, 3402 6826 - 30
Phase V, D.H.A. Fax: (021) 3402 6832
Tel: (021) 3534 2388, 3534 2364 - 8 Kh-e-Itehad
Fax: (021) 3534 2387 8-C, Itehad Commercial Lane 9,
Phase VI, D.H.A.
North Karachi Tel: (021) 3535 0274, 3535 0268 - 72
Nimra Corner, Sector 12-A, Fax: (021) 3535 0275
Industrial Area, North Karachi.
Tel: (021) 3695 8456, 3692 0621 -5 Tipu Sultan Road
Fax: (021) 3695 6237 Plot No.110, Zonal Commercial Area,
Banglore Cooperative Housing Society.
Paper Market Tel: (021) 3430 1181 - 85
Shahrah-e-Liaquat, Paper Market. Fax: (021) 3430 1187
Tel: (021) 3221 3940, 3221 3946 - 7
Fax: (021) 3221 3941 Defence
22/C, Lane 2, Shahbaz Commercial,
Dhoraji Phase V, D.H.A.
Sana Pride, 35/244, CP & Berar Tel: (021) 3585 4460
Cooperative Housing Society, Dhoraji. Fax: (021) 3585 5131
Tel: (021) 3413 6551, 3413 1421 - 3 UAN: (021) 111-111-338
Fax: (021) 3413 6550
Gulshan-e-Iqbal - KDA Scheme No. 24
S.I.T.E. SB-25, Block 13/C, KDA Scheme No. 24,
Plot No. B / 9 - B - 2, University Road.
Estate Avenue, S.I.T.E. Tel: (021) 3499 2055
Tel: (021) 3256 9772, 3256 9934 - 43 Fax: (021) 3497 2270
Fax: (021) 3256 9771 UAN: (021) 111-335-335
North Nazimabad - Block G Shaheed-e-Millat

Almas Square, Plot No. SD - 5, 72-A/Z, Block 7/8,
Block G, North Nazimabad. Al-Riaz Cooperative Housing Society.
Tel: (021) 3664 8441, 3664 8750 - 1 Tel: (021) 3431 1950
Fax: (021) 3664 8440 Fax: (021) 3431 0749, 3438 2583
UAN: (021) 111-321-321
Metroville
ST-15, Block-3, Metroville I, S.I.T.E. North Nazimabad - Block D
Tel: (021) 3666 1300 D4, Block D, North Nazimabad.
Fax: (021) 3666 2774 Tel: (021) 3672 1601 - 5, 3672 1640
Fax: (021) 3672 1614
Marriot Road
G/5-7, St. No. MR-1, Survey No. 54. Korangi - Islamic Banking
Tel: (021) 3241 4093, 3241 2803 - 7 KM Centre, 130, 130/1,
Fax: (021) 3241 4095 Main Korangi Road, Phase I, D.H.A.
Fax: (021) 3531 1441
Gulshan-e-Iqbal - Block 6 UAN: (021) 111-11-71-72
FL-2/4, Block 6.
Tel:(021) 3481 9741, 3481 9572 - 6
Fax: (021) 3481 9744

LAHORE Baghbanpura
Bilal Market, Chowk Shalamar Bagh,
Main Branch G. T. Road, Baghbanpura.
310, Upper Mall, Tel: (042) 3684 0310 - 5, 3684 0318
Shahrah-e-Quaid-e-Azam. Fax: (042) 3684 0316
Fax: (042) 3575 1020
UAN: (042) 111-11-22-33 Badami Bagh
343-Circular Road, Badami Bagh.
Gulberg Tel: (042) 3770 8160, 3770 8171
61- Main Gulberg. Fax: (042) 3770 8170
Tel: (042) 3575 7666
Fax: (042) 3575 3111 Raiwind Road
131/178, Bohbatein Chowk,
Egerton Road 10 K.M. Raiwind Road.
Ground Floor, Building No. 3, Tel: (042) 3532 0164, 3532 0406
Aiwan-e-Iqbal Complex, Egerton Road. Fax: (042) 3532 0706
Tel: (042) 3637 1111, 3627 8782
Fax: (042) 3636 8500 Bilal Gunj
16, Shahjehan Road, Bilal Gunj.
Defence Tel: (042) 3721 4084 - 8
77-Y, Phase III, D.H.A. Fax: (042) 3721 4074
Tel: (042) 3572 8282, 3572 6601
Fax: (042) 3572 5767 Gulshan-e-Ravi
2/B, Civic Centre, Gulshan-e-Ravi.
New Garden Town Tel: (042) 3740 4511-6, 3630 1107
Awami Complex, Block No. 2, Fax: (042) 3740 4517
New Garden Town.
Tel: (042) 3586 1111, 3594 0191 Valancia Society
Fax: (042) 3586 9181 A-6, H-Block, Commercial Zone,
Valancia Society.
Allama Iqbal Town Tel: (042) 3518 8604 - 5
20 Gulshan Block, Fax: (042) 3518 8606
Allama Iqbal Town.
Tel: (042) 3541 5588, 3541 7262 T-Block
Fax: (042) 3541 9394 CCA-22, T-Block, Phase II, D.H.A.
Tel: (042) 3574 9742, 3503 3331 &
Gulberg Industrial Area 3844 5101-3
25-B-2 Gulberg III. Fax: (042) 3574 9741
Tel: (042) 3571 7141-5
Fax: (042) 3571 8050 Shahdara
Mauza Begum Kot,
Township Sheikhupura Road, Shahdara.
894-D, Faisal Town, PECO Road. Tel: (042) 3790 0260 - 1, 3790 0268
Tel: (042) 3517 6051-9, 3517 6002
Fax: (042) 3517 6041 Faisal Town
594-A Faisal Town.
Circular Road Tel: (042) 3520 3881 - 4, 3520 3892
Outside Shah Alam Gate, Fax: (042) 3520 3880
Main Circular Road.
Tel: (042) 3767 0600, 3767 0501 Cavalry Ground - Islamic Banking Branch
Fax: (042) 3767 0666 97 Commercial Area,
Cavalry Ground.
Qurtaba Chowk Tel: (042) 3660 3412 - 17
Qurtaba Chowk, 110-A, Lytton Road. Fax: (042) 3660 3411
Tel: (042) 3721 0500-4, 3790 0268
Fax: (042) 3721 0505 Cavalry Ground
4/5, Hassan Plaza,
PIA Town Cavalry Ground Cantt.
188, Block-F, Phase I, Fax: (042) 3665 5591
PIA Employees Housing Society, UAN: (042) 111-321-321
Wapda Chowk.
Tel: (042) 3518 9011 - 6, 3518 9020
Fax: (042) 3518 9010

ISLAMABAD Bilal Road
P - 17/1, Bilal Road, Civil Lines.
Main Branch Tel: (041) 260 6138
15 Markaz, F - 7, Opposite FG College Fax: (041) 260 6001-2
for Women, F-7/2. UAN: (041) 111-11-22-33
Tel: (051) 265 1318
Fax: (051) 265 1331 MULTAN
UAN: (051) 111-11-22-33
Abdali Road
Blue Area 80 - Abdali Road.
78 - W, Roshan Centre, Tel: (061) 458 1905-6, 457 1768
Jinnah Avenue, Blue Area. Fax: (061) 458 1904
Tel: (051) 227 5252
Fax: (051) 227 5254 Nusrat Road
01-Nusrat Road, Multan Cantt.
F-10 Markaz Tel: (061) 478 1054
7-L, F-10 Markaz. Fax: (061) 478 0126 - 7
Tel: (051) 229 3386, 229 1487 UAN: (061) 111-11-22-33
Fax: (051) 221 3207
SIALKOT
PESHAWAR
Paris Road
Ashraf Road Sialkot Chamber of Commerce & Industry
New Rampura Gate. Building, Paris Road.
Tel: (091) 259 3364 - 5, 259 3164 Tel: (052) 426 5216
Fax: (091) 259 3165 Fax: (052) 426 7030
Cantt. Daska Road

6- Sadar Road, Peshawar Cantt. Pul Aik, Daska Road.
Tel: (091) 527 5156, 527 5182 Tel: (052) 324 0203-4, 324 0200
Fax: (091) 527 3251 Fax: (052) 324 0205
QUETTA HYDERABAD
1-25/14-15, Qandhari Bazar. CB 474, Opposite Cantt. Police Station,

Tel: (081) 282 0916, 283 7890 Saddar.
Fax: (081) 282 0915 Tel: (022) 278 1604, 278 1077 - 8
Fax: (022) 278 0879
RAWALPINDI
GUJRAT
Mall Road
Century Tower, 6-The Mall. 2-Prince Fan Colony, G. T. Road.
Tel: (051) 570 1054-6, 570 1060 Tel: (053) 353 3143, 353 5931
Fax: (051) 556 7016 Fax: (053) 353 3145
Gunj Mandi MIRPUR (AZAD KASHMIR)

Raja Bazar.
Tel: (051) 553 9115, 553 3315 & 553 5988 Akbar Plaza Plot No. 2A/2 Sector A-2
Tel: (058610) 111-11-22-33
Meo Road Fax: (058610) 37 260 & 42 812
CL / 55 - A, Civil Lines, Meo Road.
Tel: (051) 579 5105 SARGODHA
Fax: (051) 556 7955
UAN: (051) 111-321-321 Khayyam Chowk, Railway Road.
Tel: (048) 372 6646 - 8
FAISALABAD Fax: (048) 372 6649
Liaquat Road GUJRANWALA

P-3, Liaquat Road.
Tel: (041) 264 7161, 263 6341 Al-Majeed Centre, G.T. Road.
Fax: (041) 261 2064 Tel: (055) 373 5531 - 5, 373 5337
Fax: (055) 373 5536

VEHARI MARDAN
94-B, Iqbal Road, Main Bazar, Bank Road.

Behind Grain Market. Tel: (0937) 87 1761 - 2
Tel: (067) 336 6582, 336 6481 Fax: (0937) 87 0546, 87 0902
Fax: (067) 336 6584
GUJAR KHAN
JHELUM
Plot No. 204-A, G. T. Road.
Old G. T. Road, Jhelum Cantt. Tel: (051) 351 6425, 351 6324
Tel: (0544) 62 1122 Fax: (051) 351 6325
Fax: (0544) 625 648, 620 404
KHARIAN
TURBAT
G. T. Road.
Main Bazar. Tel: (053) 753 6249
Tel: (0852) 41 3816
Fax: (0852) 41- 2673 BHALWAL
DERA GHAZI KHAN 131-A, Liaquat Shaheed Road,

Chak No. 8, Tehsil Bhalwal,
Pakistan Plaza, Jampur Road. District Sargodha.
Tel: (0642) 47 4182, 47 4175 - 7 Tel: (048) 664 3671, 664 2405 & 664 2408
Fax: (0642) 47 4178 Fax: (048) 664 3545
SUKKUR BAHAWALPUR
Shaheed Gunj. V/912, Circular Road.

Tel: (071) 562 8967 Tel: (062) 273 1112, 273 1115 - 8
Fax: (071) 562 8968 Fax: (062) 287- 4503

Form of Proxy
18th Annual General Meeting
I/We _______________________________________________________________________________________________________
of ________________________________________________________________________________________________________
being member(s) of The Royal Bank of Scotland Limited, holding _______________________ordinary shares hereby
appoint _________________________________________________________________________________________________ of
__________________________________________________________________________________________ or failing him/her, _
___________________________________________________________________________________________________________
__________________________________________________________________________________________________________
of _____________________________________________________________________________________________________
who is/are also member(s) of The Royal Bank of Scotland Limited as my/our Proxy in my/our absence to attend and vote
for me/us and on my/our behalf at the 18th Annual General Meeting of the Bank to be held on Tuesday, March 30,
2010 at 10:30 a.m. and or/any adjournment thereof.
As witness my/our hand/seal this _____________________________ day of ________________________ 2010 signed by ___
________________________________________________________ in the presence of __________________________________
_________________________________________________
Ledger Folio
CDC Account Holder

Signature on Five
Rupees Revenue
Participant/CDC Sub Account No./CDC
Stamp
Service ID Investor Account
The signatures should agree with the

Specimen registered with the Bank.
IMPORTANT:
1. This Proxy Form duly stamped, completed and signed, must be received at the Legal & Corporate Affairs Department
of The Royal Bank of Scotland Limited, 77 - Y Phase III, D.H.A, Lahore, not less than 48 hours before the time of
holding the meeting.
2. No person shall act as Proxy unless he/she is a member of the Bank.
3. If a member appoints more than one Proxy and more than one instruments of Proxy are deposited by a member with
the Bank, all such instruments of Proxy shall be rendered invalid.

ANNUAL
REPORT
2009
Advertising
The Royal Bank of Scotland Limited

Main Branch
(Country Principal Office)
16 Abdullah Haroon Road
Karachi-75530
Pakistan
Designed by:
UAN: (021) 111-11-22-33

Fax : (021) 5683432
Website: www.rbs.com.pk

Annual Financial Report

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Annual Financial Report

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We make memorable moments special for you

Our Presence in Asia 5

Our Products and Services 6

Making moments special in 2009 8

Our Local Network 10

Shariah Advisor's Report 18

Six Years Financial Summary 19

Statement of Compliance with the Code

Auditor's Review Report on Compliance

Notice of Annual General Meeting 22

Auditors' Report to the Members 23

Profit and Loss Account 27

Cash Flow Statement 28

Statement of Comprehensive Income 29

Statement of Changes in Equity 30

Notes to the Financial Statements 31

RBS Annual Report 2009 01

02 RBS Annual Report 2009

RBS Annual Report 2009 03

Team oriented - We are

Performance driven - Results

04 RBS Annual Report 2009

Countries in Asia where RBS branches

Countries and territories where RBS has locations in Asia Pacific

RBS Annual Report 2009 05

OUR rely on. Keeping in view the potential of our

Wealth Management products

06 RBS Annual Report 2009

Innovative Banking services

RBS Annual Report 2009 07

08 RBS Annual Report 2009

RBS Annual Report 2009 09

Bhalwal Islamabad Peshawar

10 RBS Annual Report 2009

Chief Executive Officer

Risk Management Committee

Chief Financial Officer

Registered / Head Office

RBS Annual Report 2009 11

Dear Members, part of a global strategy formally announced its intention to

12 RBS Annual Report 2009

Information Technology The Board of Directors acknowledge the importance and

RBS Annual Report 2009 13

Credit Rating Operational Risk Management

14 RBS Annual Report 2009

Name of the Director Designation Meetings Attended

RBS Annual Report 2009 15

(iii) Directors’ Declaration Auditors

16 RBS Annual Report 2009

The corporate status of the entity continues to be in a

The Board expresses its gratitude to the State Bank

We also acknowledge the support of our clients in helping

RBS Annual Report 2009 17

In the Name of Allah the Most Beneficent, the Most Merciful

Based on the foregoing, I am pleased to report:

And Allah knows best.

Mufti Mohib ul Haq Siddiqui

18 RBS Annual Report 2009

Net Interest Margin 5,198 5,842 6,225 5,939 4,483 2,680

Cash Dividend - - - - 303 121

Share Capital/HO Capital 17,180 17,179 13,474 5,297 4,835 3,807

Return on capital employed (19%) (6%) (31%) 28% 24% 17%

Earnings per Share (0.80) (0.38) (1.16) 1.78 1.34 0.79