After the technology, finance is the second sector that is continuously growing. In the list of Forbes for Top 100 Valuable Brands in Year 2016, almost 21% belongs to the IT industry, 19% belongs to the financial sectors, and the rest of the 60% belongs to the electrical, electronics, automotive, food and beverages, etc. The year 2015 was the year of significant economic and financial developments in Pakistan. Despite the fact that shareholders revolts and changes in regulation, banking businesses bonuses continue to run into the billions and trillions.
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Photo Credit: Express Tribune
Just like leaders in the private equity, the CEOs of top banks in Pakistan are also enjoying the impressive deals against their services. Here is the list of those five highest paid bankers in Pakistan who are getting handsome salary package in addition to fringe and benefits.
1. Wajahat Husain – UBL
Wajahat Husain is the newly appointed President and CEO of UBL. Wajahat Husain has a bright banking background. For last three decades, he has been continuously working for several international and national financial institutions. In the year 2015, he added almost Rs. 3.8 billion in the business of UBL. Total compensation received by Wajahat Husain in Year 2015 for his services was Rs. 127.3 million.
2. Imran Maqbool – MCB
Imran Maqbool is the second in the list of highest paid CEOs in the banking sector. Imran Maqbool is serving as the President & CEO of MCB. Imran Maqbool is an experienced professional with experience in banking sector for past three decades. Before taking on the CEO position, he was Head of Commercial Branch Banking Group. Total remuneration of Imran Maqbool in Year 2015 was Rs. 84.7 million that is 14.9% higher than the year 2014.
3. Nauman K. Dar – HBL
Nauman K. Dar is serving as President & CEO of HBL since September 2012. In 2003, he joined the Habib Allied International Bank plc. UK as CEO. After that, he was appointed as the President and Head of International Banking since 2006 and become Head of Corporate and Investment Banking in December 2010. Despite the considerable drop in the share price of HBL, Nauman K. Dar total remuneration in the last year was Rs, 75.1million.
4. Syed Ahmed Iqbal Ashraf – NBP
Syed Ahmed Iqbal Ashraf is serving as the President of National Bank of Pakistan. Before becoming President of NBP, Syed Ahmed Iqbal Ashraf was CEO and MD of PAIR Investment Company Ltd. Despite the fact that share prices of NBP dropped significantly in the recent period, Syed Ahmed Iqbal Ashraf still enjoyed the handsome figure of Rs. 71.1 million in the year 2015.
5. Tariq Mahmood – ABL
Tariq Mahmood is the CEO of ABL since June 2013. In past, he also worked for Middle East Bank, Askari Bank Limited, and several other national and international financial institutions. Last year total remuneration of Tariq Mahmood was Rs. 46.3 million and that figure is 7% of the total amount received by Tariq Mahmood in the year 2014. He is the currently the fifth highest paid banker in Pakistan.
Source: Express Tribune
