NIB Bank Limited
NIB Bank Limited, formerly NDLC-IFIC Bank Limited, is a bank in Pakistan. It is the seventh largest bank in the country. However, it is second most highly capitalized bank in the country with paid up capital exceeding $ 500 million (Rs27.5 billion)
Bugis Investments owns a 72.6% stake in NIB. Bugis is a wholly owned subsidiary of Asia Financial Holdings, which in turn is a subsidiary of Temasek Holdings. Bugis bought it first investment, a 25% stake, in NIB in March 2005. It increased it's stake in July 2005 to 72.6%.
Temasek has worked with this bank to make is a market leader in financial services in Pakistan. While it is still a small bank in size, Temasek is working to make it even bigger. This bank will certainly be targeted for mergers and cash infusions by Temasek.