KARACHI: The National Bank of Pakistan has planned to expand its international branch network through a unique franchise system.

NBP President Ali Raza said on Tuesday that the Bank was working to develop a unique franchise system in South Asia, Middle East and Central Asia which would enhance bank’s reach significantly.

He said that the NBP has very strong capital assets base of Rs880 billion with over 1,244 branches across the country while it is planning to expand its branch network in and outside Pakistan.

Mr Raza said that the NBP would play a vital role in the region where it already has presence in Afghanistan and Bangladesh besides direct presence in large economies, like US, Japan, France, Germany and Hong Kong. It also has representation in Central Asia.

He said National Bank has built an extensive branch network with 1,244 branches in Pakistan and operates in major business centers abroad. The bank has representative offices in Beijing, Tashkent, Chicago and Toronto. It has agency arrangements with more than 3,000 correspondent banks worldwide.