NBP Shareholders Approve Rs9.5 Million Monthly Salary for CEO

National Bank of Pakistan (NBP) shareholders have approved a compensation package for President and Chief Executive Officer Imran Sarwar, including a gross monthly salary of Rs9.5 million, according to a Pakistan Stock Exchange filing reported by Business Recorder.

The package applies from September 9, 2026, when Sarwar assumed office, and covers the 2026–2029 contract period. It is subject to applicable taxes and will remain fixed during the term, the report says.

Salary, housing and performance bonus

Alongside his monthly salary, Sarwar is entitled to a house rent allowance of Rs1 million per month in lieu of a concessional staff home loan. He may also receive an annual performance bonus based on key performance indicators, with his performance evaluated by the board.

The package includes two vehicles: one entitlement vehicle of up to 3,500 cc and another from the bank’s vehicle pool. NBP will provide two drivers or reimburse their salaries at Rs45,000 per driver per month.

Other stated benefits include utilities and telephone and mobile expenses at actual cost, residential security provided by four guards working 12-hour shifts, and reimbursement of up to Rs150,000 per month for five domestic staff. The package also provides medical and dental coverage for the CEO and dependent family members in Pakistan.

Insurance and other terms

The bank will provide life insurance cover of Rs30 million during the contract, with the annual premium divided equally between the CEO and NBP. The terms also include a residential generator facility capped at Rs1.5 million, gratuity of one month’s last-drawn gross salary for each year of service, and paid leave.

The approval records the package for the bank’s chief executive; it does not mean the gross salary is the total value of compensation. Allowances, reimbursements, insurance, vehicles and other benefits are listed separately, and the performance bonus is variable.