National Bank of Pakistan (NBP) President and Chief Executive Officer Imran Sarwar will receive a gross monthly salary of Rs. 9.5 million, along with two vehicles, residential security and other benefits under a compensation package approved by the bank’s shareholders.
Over 12 months, that payous equates to Rs. 114 million plus benefits.
The listed bank disclosed the package in a regulatory filing at the Pakistan Stock Exchange on Friday. The terms cover 2026 to 2029 and are subject to applicable taxes.
Sarwar will also receive a variable annual performance bonus based on key performance indicators approved by shareholders and assessed by the board. The package includes a monthly house rent allowance of Rs. 1 million in lieu of a concessional staff home loan.
The bank will cover utility bills, provide two residential telephone connections and two mobile phones, and arrange four security guards working 12-hour shifts at his residence. It will also reimburse Rs. 150,000 per month for five domestic staff.
Two Cars, Medical Cover and Insurance
The package entitles Sarwar to two vehicles. One can have an engine capacity of up to 3,500cc, while the second will be selected from the bank’s existing vehicle pool. At the end of his contract, he can purchase the designated vehicle for 10 percent of its original cost or written-down value, whichever is higher.
NBP will provide two drivers or reimburse their salaries at Rs. 45,000 per driver per month.
Other benefits include a residential generator costing up to Rs. 1.5 million, with the cost amortised over the contract period, and medical and dental coverage and his dependent family members in Pakistan at actual cost.
The package also provides life insurance coverage of Rs. 30 million during the contract. Sarwar and the bank will each pay 50 percent of the annual insurance premium.
Leave, Gratuity and Club Memberships
Sarwar will receive 30 days of annual leave and 18 days of casual and sick leave each year. Annual leave can accumulate to 90 days and may be encashed at his last-drawn gross salary.
The bank will pay gratuity equivalent to one month of his last-drawn gross salary for each year of service. It will also cover the entry fees for two clubs and subscription charges for three clubs.
The compensation package will remain fixed throughout the contract period. If NBP terminates his employment before the agreement expires, payment for the remaining term will be governed by the approved contract’s terms and conditions. In case of resignation, Sarwar will be required to take three months of gardening leave as part of his notice period.
Sarwar was appointed NBP president and CEO for a three-year term effective September 3, 2026. The compensation filing states that the approved package applies from September 9, 2026, when he assumed office.
Before joining NBP, he served as Group Executive for Risk and Credit Policy and Chief Risk Officer at United Bank Limited.
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