National Bank to close branches in Bangladesh, Afghanistan

The National Bank of Pakistan has decided to shut down its branches in Bangladesh and Afghanistan due to financial losses.

According to reports, the NBP officials said that the government will shut down three branches in Bangladesh situated in Sylhet, Chittagong, and Dhaka along with some branches in Afghanistan.

According to details, the NBP branch in Sylhet has been facing financial losses for the past eight years and that it would be shut down by the end of this year. The State Bank of Pakistan has approved the decision to close the branch down in Sylhet, while the remaining two in Bangladesh will also be closed soon.

On Monday, the Senate’s Standing Committee of Finance and Revenue directed the National Bank of Pakistan to submit details of non-performing loans.

Citing non-performing loans as reason, the NBP officials had informed the committee that the bank has closed two branches in Bangladesh and Afghanistan due to continuous losses, while more will be shut down soon.

The meeting was further informed that 23 branches of the bank were established in various countries.