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Has Privatization Reduced the Proportion of Non-Performing

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Has Privatization Reduced the Proportion of Non-Performing twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h Has privatization reduced the proportion of NonNon----PerformingPerforming Loans and increased Bank performance in Pakistan? Muslim Commercial Bank and Allied Bank Limited t t! "#!$ !%&!' L# Y# {&) a%&## Ç* {%!' /& [! { Ü { . ! { a twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h Serial Table of Contents Page Number No Copyright Notice 1 Acknowledgement 2 Preface 3 Abstract 4-5 1 Introduction 6 1.1 Background 6-8 1.1.1 • Pakistan Banking Evolution System 8 1.1.2 • Dominance of Nationalized Commercial Banks (NCB) 8-9 1.1.3 • History of Non-Performing Loans (Snapshot) 9 1.2 Research Question 9 1.3 Purpose of the Research 9 1.4 Definitions 10 1.4.1 • What is privatization? Different Views 10 1.4.2 • Types of privatization 10-11 1.4.3 • Non-Performing Loans 11-12 1.4.4 • Definition of Banks 12 1.4.5 • Performance 12 1.5 Limitations 12 1.5.1 • Limitations of the Data 13 1.5.2 • Limitations of Research 13 1.6 Disposition 14 twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h 2 Theoretical Framework 15 2.1 Pakistan Economy and Lending Market 15 2.1.1 • Pakistan and the World (2008) 15 2.1.2 • Economy Overview 16 2.1.3 • History of Pakistani lending market and Non-Performing 16-17 Loans 2.2 Privatization as an Economic Instrument 18 2.2.1 • Why Privatization 18 2.2.2 • Different views on effect of Privatization 19 2.2.3 • Efficiency of Privatization 19 2.2.4 • Views on the effect of Privatization on Customers 19 2.2.5 • Privatization Impact on NPLs and banks performance (IMF 20-21 Analysis) 2.3 Performance of the Banking Sector in Pakistan from (1980s to 22 now) 2.3.1 • The role of the Central Bank 22 Regulatory Authority 22 Reform Measures taken by State Bank of Pakistan 22 Recent trends in banking sector 22 2.3.2 • Introducing Major Reforms and Prudential Regulations in late 23 1980s 2.3.3 • Analysis of Financial Sector Reforms 24 Interest Rate 24 Performance and Efficiency of Financial Institutions 25 Privatization 25 2.3.4 • Conditions before privatization in Banking Sector 26 performance 2.3.5 • Main problems before privatization took place in banking 26 sector twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h 2.3.6 • Financial sector reforms 1990 26-28 2.3.7 • Banking Law Reforms 28 2.3.8 • Post-privatization activities 28-29 2.3.9 • Banks privatized just after privatization 29-30 2.4 Non-Performing Loans and Classification 31 2.4.1 • Treatment of Non-Performing Loans 31 2.4.2 • Classification of Non-Performing Loans 31 2.4.3 • Facts regarding Non-Performing Loans 32-33 2.4.4 • Impact of NPLs on Banking sector 33-34 2.4.5 • Causes of Non-Performing Loans in different countries 34-35 2.4.6 • Different Views and Analysis on Non-Performing Loans 35-36 2.4.7 • Steps taken by State Bank of Pakistan to overcome NPLs in 36-37 future • Conclusion on NPLs 38 2.4.8 • Short review of MCB and ABL 38 • MCB Privatization Impact Analysis 39 • ABL Privatization Impact Analysis 39 • MCB and ABL Comparison after Privatization 39 3 Research Methodology 40 3.1 Statement of the problem 40 3.2 Scope of the study 40 3.3 Research Philosophy 40 3.3.1 • Positivism 41 3.3.2 • Phenomenal 41 3.4 Research Approach 41 ! twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h 3.4.1 • Inductive Approach 41 3.4.2 • Deductive Approach 41 3.5 Research Methods 42 3.6 Research Design 42 3.7 Research Criteria 42 3.8 Sample and Sample Size 43 3.8.1 • Population 43 3.8.2 • Sample 43 3.9 Hypothesis 43 Hypothesis Model 44 3.9.1 • Null Hypothesis Model 44 3.9.2 • Hypothesis Model 44 3.10 Dependent and Independent Variables 44 3.10.1 • Variable 1 44 3.10.2 • Variable 2 45 3.11 Analysis Format 45 3.11.1 • Percentages of Non-Performing Loans of Muslim 45 Commercial Bank 3.11.1 • Percentages of Non-Performing Loans of Allied Bank 45-46 Limited • Short review of NPL percentages 46 • Short Description of Chapter 4 47 4 Our Analysis and Outcome 48 • Levene’ s test for equality of variances 48 • Independent sample test 48 • T-test for equality of means 49 ! twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h • Confidence interva l 49 Observations 49 • Observation No: 1 (Muslim Commercial Bank) 49-51 • Observation No: 2 (Allied Bank Limited) 51-53 5 Conclusions and Recommendations 53-54 Recommendation for further Research 54 6 Truth Criteria 55 • Reliability 55 • Validity 55-56 • Generalization 56 References 57-60 7 Glossary 61 8 Appendices 62-68 9 Index 69-72 ! twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h Copyright Notice Copyright @ Muhammad Tariq, Imran Karim Sirohi 2009 All Rights Reserved. No part of this thesis may be reproduced, stored in or introduced into a retrieval system or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise). Students and academicians can take the advantage from this “Thesis Report”. If any individual wants to take reference from this report he/she can use it for the reference of his/her academic thesis. Printed in Umea University, 2009 twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h Acknowledgement First of all we are grateful to Allah Almighty, the most beneficent and ever merciful who gave us courage to complete our Thesis Report. It has been half year we have started our thesis entitled “Has privatization reduced the proportion of non-performing loans and increased bank performance in Pakistan” During this period, many people have contributed to the success of this thesis. We wish to express our gratitude to the supervisor Miss. Catherine Lions for the advice that she provided us throughout the study period, in particular the discussions that we had during our stay at the University of Umea. Her maximum effort contributed to the success of this project. We want to acknowledge the help that we have received from Mr. Ghulam Abbas (Assistant Professor, University of Iqra, Pakistan) . He helped us to acquire an in depth knowledge of the statistics part. We are grateful for the support and co-operation that we have received from department of Business Administration of the University of the Umea, in particular the support of Miss. Gisela Taube Lyxzen . The support of our family was also invaluable in completing this thesis. They all have been on our side through prayer, moral and support. Finally, we wish to express our gratitude to all our teachers in the university education that provided us with a good background for completing this thesis. ________________ Imran Karim Sirohi Student, Umea University _____________________ Muhammad Tariq Student, Umea University twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h Preface The study of Finance has always been interesting and full of complexities. Think of today major economic sectors of Pakistan, Industrial, Textile, Agricultural, Banking, Telecom, Media and Government and Semi Government Sectors and many more, question is which sector has played an important role in making the economy of the country strong. Of course Banking Sector that has contributed a major part in the economy of the country after the privatization has taken place. Other sectors like Telecom and Media have done a great job for the last seven to eight years but Banking has overcome other sectors because of the high stream of privatization process. So it is therefore necessary to study the measures of banking sectors and to find out the problems which have been affecting the economy of the country. " twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h Abstract Privatization has become an important aspect all over the world especially in developing countries of the world. Pakistan has also embarked on privatization program for the state-owned financial sector. As this report is limited to banks so we have selected banks which were privatized in the decade of 1990-2002 and the topic on which we have emphasized is Non- Performing Loans. This thesis is based on the two main things, firstly privatization of government owned banks and secondly Non-Performing Loans proportion with respect to the effect of privatization. Privatization of government owned banks in Pakistan was the main reason behind the overcome of weak banking sector and as part of this policy, for the very first time in 1991, two government owned banks of Pakistan Muslim Commercial Bank (MCB) and Allied Bank Limited (ABL) were converted into private entities. In first step authors have tried to collect data regarding the history of Pakistan as an economic instrument, why privatization in banking sector was important, review of banking sector and its performance in Pakistan and Non-Performing Loans and its classification with respect to privatization in the banking sector. Banking sector is considered as one of the most important sector of every country and there are so many measures to gauge the performance of the banking sector. There are many measures utilized to gauge the performance of the banking sector like measuring asset quality, capital adequacy, earning, profitability, liquidity. Out of these performance measures this study is targeted towards gauging the “operating performance” of banks keeping in view the global performance. We have taken one specific measure that is “Non-Performing Loans” of selective banks to find out the operating performance of the banking sector and impact of privatization has been kept in mind to find out the results.
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