National Bank of Pakistan President and Chief Executive Officer Imran Sarwar is set to earn a gross monthly salary of Rs. 9.5 million, alongside two cars, home security, and additional perks approved by bank shareholders.
Calculated over twelve months, this remuneration totals Rs. 114 million plus benefits.
The publicly traded bank made the announcement through a regulatory submission to the Pakistan Stock Exchange on Friday, outlining the terms for the period spanning 2026 to 2029, which remain subject to relevant taxes.
Sarwar is also eligible for an annual performance-based variable bonus determined by key performance indicators endorsed by shareholders and evaluated by the board. His compensation features a monthly housing rent allowance of Rs. 1 million instead of a staff housing loan.
The institution will pay utility expenses, supply two home telephone lines and two cellular phones, and station four security guards on twelve-hour shifts at his home. Furthermore, the bank will pay back Rs. 150,000 monthly for five household staff members.
Two Cars, Medical Cover and Insurance
The agreement grants Sarwar the use of two automobiles. One vehicle may feature an engine displacement up to 3,500cc, while the second comes from the existing fleet of the bank. Upon contract completion, he holds the option to buy the assigned vehicle for ten percent of its initial price or book value, whichever proves greater.
The National Bank of Pakistan will supply two chauffeurs or refund their wages at Rs. 45,000 per chauffeur each month.
Additional perks comprise a home generator valued up to Rs. 1.5 million, with expenses spread across the contract duration, along with actual cost medical and dental insurance for him and his dependent relatives residing in Pakistan.
The agreement additionally supplies life insurance valued at Rs. 30 million throughout the tenure. Sarwar and the bank will split the yearly insurance cost evenly, each paying 50 percent.
Leave, Gratuity and Club Memberships
Sarwar is entitled to 30 days of yearly vacation and 18 days of casual and medical leave annually. Yearly vacation time can roll over up to 90 days and may be paid out at his final earned gross pay.
The bank will disburse severance pay matching one month of his final earned gross pay per year worked. The institution will also pay initiation costs for two clubs and monthly dues for three clubs.
The remuneration structure stays unchanged across the agreement duration. Should the bank dismiss him prior to contract expiration, compensation for the remaining duration is dictated by the endorsed agreement rules. If he resigns, Sarwar must serve three months of gardening leave as part of his resignation notice duration.
Sarwar assumed the role of bank president and chief executive for a three-year term starting September 3, 2026. Regulatory disclosure documents show the endorsed remuneration applies starting September 9, 2026, when he took charge.
Prior to his NBP role, he worked as Group Executive for Risk and Credit Policy and Chief Risk Officer at United Bank Limited.
