Karachi: In accordance with section 15B of Banking Companies Ordinance 1962, Where by the term of office of a director of any banking Company is limited to a maximum period of six years, Mr. Francis Andrew Rozario, the current Chairman and member of the Board of Directors of NIB Bank limited (NIB) shall complete his term of office on July 31, 2011 and shall upon that date retire from the Board of Directors of NIB Bank Limited.

Mr. Roland Teo Cheng San, an existing director of NIB has, at the 43rd meeting of the Board of Directors of NIB held on June 24, 2011 been elected as the new Chairman of NIB effective August 1, 2011.Mr Teo is a Singaporean national and a banker by profession, having spent over 20 year in senior positions in Citigroup and Standard Chartered Bank including Regional Consumer Banking Head North Asia, Chief Executive Taiwan, Head of Consumer Bank Taiwan, North Asia Cards Director and Chief Financial Officer and Treasurer North Asia, Mr. Teo is a Fellow of the Chartered Association of Certified Accountants, U.K. and a member of the Institute of Certified public Accounting of Singapore. He also on the Advisory Board of the School Accounting, Singapore Management University.

NIB wishes to place on record its deep appreciation of the services rendered by Mr. Rozario to NIB over the period of the past six years and welcomes Mr. Roland Teo Cheng San as its news Chairman.

For more information, contact:
Yameen Kerai,
CFO and Company Secretary
NIB Bank Limited
Muhammadi House,
P.O. Box 6942, I.I. Chundrigar Road,
Karachi 74000
UAN: +9221 111-333-111
Fax: +9221 3241-7503
Email: info@nibpk.com

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