national bank of pakistan ( nbp ) is a major pakistani commercial bank with headquarters in karachi .

although state-owned , it operates as commercial bank , while still continuing to act as trustee of public funds and as the agent to the state bank of pakistan in places where sbp does not have a presence , as sbp is the major share holder of nbp .

it is a lead player in the debt equity market , corporate investment banking , retail and consumer banking , agricultural financing , treasury services .

as of march 2017 it has 1,450 branches across pakistan with assets of approximately usd 17.2 billion .

the bank also operates a network of 21 international branches , 2 international subsidiaries and 3 international representative offices .

the bank also has presence in the uk through united national bank ltd ( unbl ) , a banking institution incorporated in the uk national bank of pakistan has developed a wide range of consumer products , to enhance business and cater to the different segments of society and meet its social responsibilities .

it has implemented special credit schemes like small finance for agriculture , business and industries , administrator to qarz-e-hasna loans to students , self-employment scheme for unemployed persons , public transport scheme .

it has also put in place a remittance service for overseas pakistanis to send their money back to pakistan .

the bank also runs the annual awards for excellence in literature that confer awards to the best books in urdu and in all prominent regional languages .

national bank of pakistan

national bank of pakistan is part of pakistan struggle for economic independence . national bank of pakistan was established on november 9 , 1949 under the national bank of
according to the official notification , the central bank has approved a scheme of amalgamation between national bank of pakistan and nbp leasing company .
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tm all - in - one is a trademark of national bank of canada .
23 . internship report national bank of pakistan information and wide span of control . nbp is decentralization in nature and very low formalization in the bank . basically national bank of pakistan is high diagonal differentiation and every employee of any department can easily communicate to other department of the bank . 15
meeting with honorable chairman and president of national bank of pakistan on 5th july , 2015 a . . . . .
nit . the national bank of pakistan has assets worth rupees 737976 . 44 million on september 30 , 2008 .
the national bank of pakistan has its headquarters in karachi , pakistan . the bank operates 1249 ( 2008 ) branches in pakistan and 22 ( 2008 ) overseas branches . under a trust deed , the bank also provides services as trustee to national investment trust ( nit ) including safe custody of securities on behalf of
being one of the largest commercial banks in pakistan , national bank of pakistan ( nbp ) has a network of over 1450 + domestic branches across pakistan , including areas where no other bank operates , and major business operations spanning over 19 countries .
1 . subject to credit approval by national bank of canada . certain conditions apply .
2001 state bank of pakistan and bank of england agree to allow only 2 pakistani banks to operate in the uk . nbp and united bank agreed to merge their operations to form pakistan international bank , of which nbp would own 45 % and united bank 55 % .
this section will guide you about the authorised branches of national bank of pakistan , for submission of passport / visa fees . read more . . .
jubilee life’s bharosa plan in assistance with national bank of pakistan will make your investment worthy , thus ensuring a secure future of your child .
1 . internship report on national bank of pakistan the the nation ' s bank nation ' s bank national bank of pakistan government the treasury nation ' s bank te h ntio ' sbn a n ak hailey college of commerce salma bashir te h ntio ' sbn a n ak roll number : 126 urltoken ( hons . ) session : 2005 - 2009 supervisor : sir . hassan mubeen alam national bank of pakistan samnanabad branch date of joining : 25 - 7 - 09 to 24 - 09 - 09
1949 national bank of pakistan ( nbp ) was established under the national bank of pakistan ordinance 1949 and was government - owned . nbp acted as an agent of the central bank wherever the state bank did not have its own branch . it also undertook government treasury operations . its first branches were in jute growing areas in east pakistan . offices in karachi and lahore followed .
national bank of pakistan is the largest commercial bank operating in pakistan . its balance sheet size surpasses that of any of the other banks functioning locally . it has redefined its role and has moved from a public sector organisation into a modern commercial bank . . خوشآمديد
1949 national bank of pakistan ( nbp ) was established under the national bank of pakistan ordinance 1949 and was 100 % govt . - owned . nbp acted as an agent of the central bank wherever the state bank did not have its own branch . it also undertook government treasury operations . its first branches were in jute growing areas in east pakistan . offices in karachi and lahore followed .
“nbp , bd nights” along with honorable chairman and president of national bank of p . . . . .
national bank of pakistan ( nbp ) has planned to shift operations of its subsidiary under the control of its management for consolidation of its overall operations and containing losses of the services business .
jsc sb
national bank of pakistan
in kazakhstan is a fully owned subsidiary of national bank of pakistan , head office , karachi , established its representative office in almaty , kazakhstan in the year 1996 . the national bank of republic of kazakhstan ( the regulators ) issued our bank a restricted banking license on december 14 , 2002 . under the restricted license the bank ' s activities were confined to do business with legal entities including foreign organizations . the bank was not allowed to open accounts of physical persons .
18 . internship report national bank of pakistan organizational structure in national bank of pakistan , the head is called “chairman” or “president” of the bank . and after president there is five broad of directors . national bank of pakistan has eleven groups which control the working of the divisions , wing , department , section and regional of the national bank of pakistan . in nbp , “department” is called “wings” . chairman & president board of directors president’s secretariat secretary board of directors corporate & credit audit & inspection investment management compliance group group banking group group hrm & commercial & treasury administration operation retail banking management group group group group special assets overseas management group management i . t . group group 10
national bank of pakistan ( nbp ) is the largest commercial bank in pakistan with total assets well in excess of pkr 1 . 15 trillion ( as on december 31st 2011 ) . nbp was incorporated in pakistan under the national bank of pakistan ordinance , 1949 . it is involved in commercial banking and related services in pakistan and abroad . with one of the largest domestic branch networks ( consisting of 1283 branches ) across pakistan as well as representation in 6 international geographical areas ranging from north america to the far east as well as a joint venture operating in the united kingdom ( united national bank limited ) and a subsidiary in kazakhstan ( nbp kazakhstan ) , nbp is pakistan largest international commercial bank .
16 . internship report national bank of pakistan the pakistan banking council prepared banks amalgamation schemes in ١٩٧٤ for amalgamation of smaller banks with the five bigger banks of the country . these five banks are as under : 1 . national bank of pakistan 2 . habib bank limited 3 . united bank limited 4 . muslim commercial bank limited 5 . allied bank limited so , through the nationalization of bank act ١٩٧٤ , the state bank of pakistan , all the commercial banks incorporated in pakistan and carrying on business in or outside the country were brought under the government ownership with effect from jan . ١٩٧٤ , ١ . the ownership , management , and control of all banks in pakistan stood transferred to and vested in the federal government . with the passage of time its functioning diversified as they take over the function of different institution with the passage of time like in past they took over the function of imperial bank of india and now of ndfc ( national development finance corporation ) . it is working as the agent of the state bank of pakistan and performs its functions wherever state bank of pakistan is not present . 8
1974 the government of pakistan nationalized nbp . as part of the concomitant consolidation of the banking sector , nbp acquired bank of bahawalpur .
21 . internship report national bank of pakistan national bank of pakistan ( nbp ) provides services through more than ١٢٠٠ branches in pakistan and ٢٢ branches in overseas . and there are ٢٩ regions . all branches of national bank of pakistan report to five head of rmt members . and these five members reported to regional offices . regional offices report to the group chief of the groups . all the process is working very quickly and it not consume more time . and the group chief of each group report to the president of the national bank of pakistan . all the data were proceed to the president of the bank . chairman & president operation group hrm group audit & inspection compliance group chief chief group chief chief south region north region west region east region overseas reg head 1 head 2 head 3 head 4 head 5 branch 1 branch 2 branch 3 branch 4 branch 5 national bank of pakistan is relatively wide span of control and flat structure . national bank of pakistan are less layers of management to pass a message through , so the message reaches more employees faster . more skillful group chief managers can control a greater number of employees . national bank of pakistan assess that the internal control environment is showing signs of improvement as compared to previous year in all areas of the bank . 13
national bank of pakistan ( the bank ) is a pakistan - based commercial bank . the bank provides commercial banking services , including commercial loans , investment advisory , asset management , global remittances , agency services , forex , leasing , modarba , underwriting , brokerage , and other banking and financial services . the bank . . . ( more )
national database and registration authority ( nadra ) was established as national database organization ( ndo ) , an attached department under the ministry of interior , government of pakistan in 1998 .
please be advised that on march 31 , 2016 , national bank of pakistan , new york branch has closed its home remittance service
pakremit
.
national bank of pakistan is one of the largest commercial bank operating in pakistan . it has redefined its role and has moved from a public sector organization into a modern commercial bank . the bank ' s services are available to individuals , corporate entities and government . while it continues to act as trustee of public funds and as the agent to the
19 . internship report national bank of pakistan national bank of pakistan divided their task in to separate jobs . basically national bank of pakistan having different groups , and each group perform different task specialization in their department . national bank of pakistan categories their departments through their work specialization . and nbp hire their employees also through work specialization . the following chart shows the work specialization in the bank . hrm & administration , operation , commercial & retail banking , and i . t group are performing different working in the organization . hrm & commercial & administration operation group retail banking i . t . group group group national bank of pakistan is structurally divided into groups and groups are also subdivided into departments , wings , and divisions . national bank of pakistan has different department in the group and each department performing work , as their task assign . department also subdivided into working bases . credit management group ( functional deptt ) administration credit industrial credit policy & wing monitoring research sme wing 11
national bank of pakistan is the largest commercial bank operating in pakistan the bank is engaged in providing commercial banking and related services in pakistan and overseas . the bank ' s services are available to individuals , corporate entities and government . its business portfolio is a major lead player in the debt equity market , corporate investment banking , retail and consumer banking , agricultural financing , treasury services
ppaf will share the information of these entrepreneurs with national bank of pakistan , and also provide assistance to these entrepreneurs by disseminating information about the prime minister youth business loan scheme .
at present 8 islamic banking branches are functional all over pakistan having group office at karachi , pakistan .
2002 pakistan international bank renamed itself united national bank limited ( unb ) . the ownership structure of the unb remained as before . the only change to the shareholding structure is that unb had recently been privatized in pakistan and was now owned 49 % by the government of pakistan and 51 % by a joint foreign consortium of abu dhabi .
in a short span of 15 months , national bank of pakistan has converted its entire network of 1283 branches online . nbp has now the highest number of online branches in pakistan , exceeding any other bank operating in the country . national bank of pakistan currently enjoys widest branch network in the country and its services are available to pakistanis living in far flung and most difficult to reach areas . people living in such remote areas will benefit the most from this development .
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in view of this business decision , effective april 1 , 2016 , national bank of pakistan , new york branch ' s internet based home remittance service
pakremit
was discontinued .
ordinary passport applicant must submit the appropriate i . e . ( normal / urgent ) passport fee , through the follwing authorised branches of the national bank of pakistan , before leaving for regional passport office ( rpo ) . bank receipt
national bank of pakistan is expected to show a growth of 16 % yoy in its bottom line by reporting after tax profit of rs13 . 3bn for 9mcy12 against a profit after tax of rs11 . 4bn in 9mcy11 .
1974 the government of pakistan nationalized nbp . as part of the concomitant consolidation of the banking sector , nbp acquired bank of bahawalpur ( est . 1947 ) .
is the largest bank in pakistan in terms of profit , deposits , number of branches and employees . ever since its inception , the bank has played a pioneering role in shaping the future of the banking industry in pakistan . the bank now has 1250 branches in pakistan and 31 overseas branches / offices in 18 countries covering all the time zones .
this section has the guidance for the authorised branches of the national bank for submitttion of passport / visa fees . read more . . .
1971 nbp acquired bank of china ' s two branches , one in karachi and one at chittagong . at separation of east pakistan nbp lost its branches there . nbp merged with eastern mercantile bank and with eastern bank corporation .
22 . internship report national bank of pakistan chairman & president hrm group operation group cmg tmg od wing ird wing t & s wing tech wing c . m wing admn . wing c . m wing admn . wing national bank of pakistan is having decentralization in the bank . and give the authority of decision making to their group chief of every group , to take decision , which is benefit for the organization . national bank of pakistan provides facility of making decision to their senior vice president as well as vice president of the every group . president ( nbp ) group chief ( group ) svp or vp ( group ) avp ( group ) grade officers ( group ) national bank of pakistan has low formalization in the bank . and employees are free to take action or decision in their work specialization . employees are follow the rules and regulation in the bank is very little formalized . employees’ behavior is little bit guided by rules and regulation . national bank of pakistan follow the organic model organization . in nbp , there are cross - functional teams , as well as cross - hierarchical teams . there are free flow of 14
nbp leasing limited ( nll ) formerly nbp capital limited a wholly owned national bank of pakistan subsidiary , is incorporated as a public limited company . originally the company was registered with the name of national discounting services limited in november 1995 and commenced operations in march 1996 .
an internship report on nbp ( national bank of pakistan ) a governmental financial institution . a detailed report on its organizational structure , its departments , and financial analysis with recommendations and conclusions .
15 . internship report national bank of pakistan • the industrial development bank of pakistan was set up on august ١٩٦١ , ١ with a paid up capital of rs ; five crore . the agricultural development bank of pakistan ( adbp ) was set up in ١٩٦١ . it provides short , medium and long term loans to the farmers . in jan , ١٩٧٤ the entire commercial banks were nationalized . the weaker commercial banks were merged with the stronger once and in all five major banking companies were formed . mcb and abl have again been privatized . establihment the normal procedure of establishing a banking company under the companies law was set aside and the bank was established through the promulgation of an ordinance due to the crisis situation that had developed with regard to financing of jute trade . the bank commenced its operations from november ١٩٤٩ , ٢٠ at six important jute centers in the then east pakistan and directed its resources in financing of jute crop . the bank’s karachi and lahore offices were subsequently opened in december ١٩٤٩ . state bank of pakistan after its formation demanded from the indian reserve bank the assets against the indian currency retired from pakistan territory . government of india refused to hand over the assets worth about five hundred million rupees . the dispute is still unsettled and these assets are still not delivered to pakistan . until june ١٩٥٠ , the bank was engaged exclusively on jute operation . thereafter , it was felt that it could expand its business to include other commodities as well . bank took a big stride in ١٩٥٢ , when it replaced the imperial bank of india , as an agent of state bank of pakistan . there were ١٤ pakistani scheduled commercial banks operating in the country on december ١ ٩٧٣ , the name of these were : 1 . national bank of pakistan 2 . habib bank limited 3 . habib bank ( overseas ) limited 4 . united bank limited 5 . muslim commercial bank limited 6 . commerce bank limited 7 . australia bank limited 8 . standard bank limited 9 . bank of bahawalpur limited 10 . premier bank limited 11 . pak bank limited 12 . lahore commercial bank limited 13 . sarhad bank limited 14 . punjab provincial co - operative bank limited 7
the swift center is operational at national bank of pakistan with a universal access number nbp - pkka . all nbp overseas branches and overseas correspondents ( over 450 ) are drawing remittances through swift .
2 . introduction : national bank of pakistan is the largest commercial bank operatingin pakistanthe bank is engaged in providing commercial banking and relatedservices in pakistan and overseas . the banks services are available to individuals , corporate entitiesand government . its business portfolio is a major lead player in thedebt equity market , corporate investment banking ,  retail and consumer banking ,  agricultural financing ,  treasury servicesnbp headquarters in karachi , pakistan with over 1 , 254 branchescountry wide . participating in
world bank
and
asian development banks
lines of credit . hira shahid khan
national bank of pakistan (
nbp
) was incorporated in pakistan in 1949 . it has a well - established domestic network comprising more than 1 , 400 branches and 29 regional centers covering the entire country . nbp is the largest universal ( commercial & investment ) bank in pakistan with assets over us $ 10bn and deposits over us $ 8 . 3bn . nbp is majority owned by the government of pakistan and is managed by a team of highly experienced professionals .
pakistan poverty alleviation fund ( ppaf ) will share information with national bank of pakistan ( nbp ) about its borrowers who successfully establish the business and return the loan . nbp will provide them funds under prime minister youth business loan ( pmybl ) for extension business .
national bank of pakistan is at the forefront of international banking in pakistan which is proven by the fact that nbp has its branches in all of the major financial capitals of the world . additionally , we have recently set up the financial institution wing , which is placed under the risk management group . the role of the financial institution wing is : -
developed & maintained by : software wing , directorate general of immigration & passports , ministry of interior , government of pakistan .
state bank of pakistan , under section 48 of the banking companies ordinance ( bco ) , 1962 , had also announced the effective date of the scheme as close of business on july 31 , 2017 .
ordinary machine readable passport is issued to all citizens of pakistan . read more . . .
board of directors of national bank of pakistan ( nbp ) in their meeting held on tuesday at the bank head office here approved the financial statements of the bank for the year ended december 31 , 2011 and announced a payout of 10 per cent bonus shares and 75 per cent ( rs7 . 50 per share ) cash dividend to the shareholder as final dividend for the year 2011 which translates into payout ratio of 81 . 18 per cent .
jubilee life in assistance with national bank of pakistan offers you bachat plan . together with life insurance protection , this plan will help you save on regular basis so that you may have financial security and achieve your ambitions in life .
47 . internship report national bank of pakistan ∗ certificate of incorporation ∗ their signature cards ∗ certificate to commence business ∗ power of attorney documentation in case of partnership account ∗ application form ∗ a copy of partnership deed ∗ signature cards of partners ∗ registration certificate copy ∗ a copy of national identity card of each partner ∗ authority letter favoring persons authorized to operate the account documentation in case of club , society , association or trust ∗ application form ∗ copy of rules ∗ certified copy of resolution ∗ signature cards documentation in case of agents account ∗ copy of power of attorney ∗ id card of each agent documentation in case of trust account ∗ certificate of registration ∗ cnic of all trustees ∗ copy of instrument of trust v . stamping and scrutinizing after the fulfillment of all the necessary terms and conditions and checking of the form the relevant officer of account opening then affixed stamps on the aof for the sake of completion of all the formal rules and regulations . he affixed three types of stamps on the form and two types of documents . affixed stamps :  national bank of pakistan stamp  authorized stamp 39
every citizen of pakistan is entitled to machine readable passport for traveling abroad , subject to completion of all codal formalities .
1965 the indian government seized the calcutta branch on the outbreak of hostilities between india and pakistan .
55 . internship report national bank of pakistan on the atm are carried out through the same . clearing section clearing
the transfer of funds from one branch of bank to the other branch of the same bank or the other bank on which the instrument is drawn , without involving cash through “state bank’s clearing house
we can say that cheques which cannot be cashed at the cash counter of the bank or cross cheques go through the clearing process . clearing department the major function of clearing department is to receive the cheques , which are drawn on some other bank . the customer can get the money in his account at nbp , from the cheques drawn on another bank . the bank accepts these cheques and collects the amount from that bank on which cheque is drawn through the clearing house . bank charges some commission for this function . clearing house a clearing house is an association of commercial banks set in state bank of pakistan for the purpose of interchange and settlement of credit claims national institutional facilitation technology ( nift ) pvt . limited is performing the function of clearing and charges commission against it . before the nift , the state bank of pakistan ( sbp ) with efficient controlling staff performed the process of clearing . if sbp had no office at a place , then nbp , as a representative of sbp acted as a clearinghouse . nift is a joint venture between a six major banks and private sector . the clearing operations were commenced by the establishment of first centre at karachi and now it has been extended to all major cities of pakistan . at such places where the area is not covered by nift the clearing and settlement services are provided by national bank of pakistan . types of the cross cheques some specific types of cheques are being entertained in the clearing department of nbp are : i . local cheques by local cheques we mean collection of cheques from the banks which are located within the city . it means the presenting bank and the bank on which the cheques is drawn are situated in the same city . ii . outstation cheques by outstation cheques we mean collection of cheques from the bank , which are situated outside the city . it means the presenting bank and the bank on which the cheques is drawn are not situated in the same city . 47
17 . strength : •nbp one of the largest financial institutions of pakistan with eight million of customer•nbp has 1254 branches located all over pakistan . and 23 international locationsincluding the usa , united kingdom , europe and the far east . •it acts as an agent of the central bank wherever the state bank does not have its ownbranch . •performing social responsibilities and claiming “the nation’s bank”•earning commission from sbp on government transaction•leading bank in agriculture financing amongst commercial banks with the marketshare of 15 % opportunities : •being a government bank nbp having wide scope in economic market . •its vast network of domestic and overseas branches can help to expand business . •bank’s deposit is increasing rapidly so there is a great opportunity to enhance its investmentand financing . •being an agent of state bank of pakistan it can play vital role in local economy . •amongst highest bank is asia , nbp further expand its services proudest and earn more profit . •the bank is reshaping its portfolios by investing into higher area of growth samreen lodhi
united bank uk and ubl uk are the trading names of united national bank limited . united national bank limited is authorised by the prudential regulation authority and regulated by the financial conduct authority and the prudential regulation authority . the company is registered in england & wales and its registered office is at 2 brook street , london , w1s 1bq . the company registration number is 4146820 .
your eligible deposits with united national bank ltd are protected up to a total of £85 , 000 by the financial services compensation scheme , the uk ' s deposit guarantee scheme . this limit is applied to the total of any deposits you have with the following : united national bank ltd , united bank uk & ubl uk . any total deposits you hold above the limit between these brands are unlikely to be covered .
27 . internship report national bank of pakistan  oversea representative offices  baku  beijing  toronto  chicago  tashkent  oversea subsidary  cjsc almaty , kazakhstan domestic network  1254 domestic branches  6 domestic subsidiaries  29 domestic regional offices  domestic subsidiaries  nbp capital ltd .  taurus securities ltd .  nbp exchange company ltd  national bank modaraba management co .  national agricultural and storage company ltd .  cast – n - link products ltd  joint venture  united national bank ltd . , uk ( economic indicators pakistan , published by economic research wing nbp , head office karachi ) present status of bank the new management team having extensive experience of management of large financial institutions both within and outside the country is expected to further enhance the profitability and operational efficiency of the bank . prospects the bank ' s principal strategic going forward objective is to make the transition from a public service institution to a modern commercial bank . being the country ' s largest financial institution , the bank is uniquely positioned to leverage its large branch network and its 8 . 5 million - customer base to consolidate its core businesses as well as develop new revenue generating opportunities . 19
the existing system of home remittances has been revised / significantly improved and well - trained field functionaries are posted to provide efficient and reliable home remittance services to nonresident pakistanis at 15 overseas branches of the bank besides united national bank ( the joint venture between nbp and ubl in uk ) . , and bank al - jazira , saudi arabia .
the federal reserve bank of new york , the office of the comptroller of the currency , the new york state department of financial services and the office of the superintendent of financial institution regulate the branches and representative office of nbp usa and canada .
the national bank of pakistan came forward to establish its offices in the cotton growing areas and extended credit facilities liberally in order to restore stability to the market . in 1951 , the country was once again faced with a crisis in the cotton trade when prices was crashed and touched the lowest level since independence following the cessation of hostilities in korea . the bank in collaboration with the cotton board provided the necessary credit facilities to the trade and the crisis was tided over . the nature of responsibilities of the bank is different and unique from other banks / financial institutions . the bank acts as the agent to the state bank of pakistan for handling provincial / federal government receipts and payments on their behalf . the bank has also played an important role in financing the country growing trade , which has expanded through the years as diversification took place .
31 . internship report national bank of pakistan president the president of a central board shall be appointed by the central government from among the directors . local board the local board shall be established for the area mentioned in sub section ( ٥ ) of section b , one each at karachi , dacca and the lahore , and shall without prejudice to the powers conferred by the sections ١٢ , have power , within the prescribed limits generally to transact all usual business of the bank . a local board should consist of following members namely ;  the managing director  one member appointed by the central board from amongst the directors elected by the share holder register in the branch register of the area .  two members appointed by the central government from the area in which the local board is situated .  three members elected in local or special board meeting from among themselves by the shareholder register in the branch register of the area . the managing director shall be appointed by the central government for a period not exceeding five years and on such salary and terms and condition of the service as the central government may determined . new management structure the previous management was removed by the bank nationalization ordinance ١٩٧٤ . the general direction and superintendent of the affairs and business of the banks vests in the executive board consisting of president ( chief executive ) and five senior executives of the bank . the federal government in ١٩٨٠ constituted a board of directors comprising the president and the members of executive board of the bank and two additional members one representing the ministry of finance and the other pakistani banking council . thus therefore , all nationalized commercial banks are controlled by the pakistani banking council being subject to state bank of pakistan regulation as well . the federal ministry is responsible for bank operations in the ministry of finance . recently by the order of president of pakistan , banking council of pakistan is removed . board of directors . an executive board composed of six senior executives of the bank and the president who is also the chief executive supervises the affairs and business of the bank , called the board of directors . management committee : also there is a management committee consisting of nine senior executives of the bank , called the members and the president who is also the chairman of the committee . trainig and management development wing national bank of pakistan has its national and development centers and ٤ staff collages at : - 23
state bank celebrates 70 years of professional excellence amidst acknowledgement from cross section of society ( 01 . 07 . 2018 ) - urdu
discover the financial consumer agency of canada ( fcac ) ’s account selector tool to compare bank accounts .
36 . internship report national bank of pakistan depertmentalization dividing an organization into different parts according to the functions is called departmentalization . nbp main branch , lahore offer a wide range of banking services to public and private sector corporation , partnership , individual and others . the national bank of pakistan has various departments . brief description of all these departments are given here one by one under separate heads for better understanding . • general banking department  account opening section  deposit section  cash dealing  clearing section  remittance • credit and advances department • accounts department • government department • consumer & retailing department • foreign exchange department • import and export department • 28
international business is one of the major successes of income of the bank . the bank is giving proper care to serve the importer and exporter of various items with its officers having expertise in the respective field . during last year i . e . 2005 the bank handled export and import business to the tune of tk . 549 crore & tk 469 crore respectively .
it has been witnessed in the past that banks such as standard chartered bank had sold out its subsidiaries including modaraba and leasing company to focus on the core business of the bank .
national bank has earned recognition and numerous awards internationally . it has been the recipient of the bank of the year 2001 , 2002 , 2004 and 2005 award by the banker magazine , the best foreign exchange bank pakistan for 2004 , 2005 , 2006 and 2007 , global finance , best emerging market bank from pakistan for the year 2005 , global finance , kisan time awards 2005 for nbp ' s services in the agriculture field . it is listed amongst the region ' s largest banks and also amongst the largest banks in south asia 2005 , the asian banker . it has also been presented a recognition award 2004 for having a gender sensitive management by webcop aasha besides other awards .
25 . internship report national bank of pakistan organizational network registered & head office head office of nbp in nbp building , i . i . chundrigar road , karachi , pakistan which is “the city of lighting” in urdu “uroos - ul - bilad” which was also the first capital and ancient place of pakistan . it carried out its successful journey to make it an “asian tiger” . share registeration office thk associates ( pvt . ) ltd . shares department , ground floor , state life building # 3 , dr . ziauddin ahmed road , karachi , pakistan . share capital issued capital the bank was setup with an issued capital of rs . 1 . 5 million . authorized capital authorized capital of national bank of pakistan in 2000 was rs . 25 billion . issued , subscribed , and paid - up capital issued , subscribed and paid - up capital in year 2008 was 10763702260 branch network presently the bank is divided into 10 groups headed by sevps / evps . 9 regions reporting to as many regional chiefs and 15 single branch zones headed by zonal chiefs ; 12 corporate branches and 1 , 254 domestic branches headed by branch managers control its field operations . with the geographical development of its branches , the bank has been able to extend its services to a much larger number of pakistanis all over the country . today it has more than 8 . 5 million accounts . bank maintains its presence in all the major financial centers of the world through its 21overseas branches and 4 representative offices . of these , three representative offices 17
4 . executive s ummary x e c u t i v e u m m a r y to interpret my skills and educational knowledge of finance i done my internship in national bank of pakistan samanabad branch , lahore and to know how i will work in financial institutions and among various types of people have different attitude . the objective of this internship was to explore the issues relating to finance and to find out problems regarding the theoretical concepts with practical experience working in an organization during the internship and study the system of national bank of pakistan . there are many possible improvements , which we can make positive changes in the system . the report is based on my two months internship program in national bank of pakistan . the methodology reported for collection of data is primary as well as secondary data . the biggest source of information is my personal observation while working with staff and having discussion with them . the report summarizes the national bank of pakistan with its working divided into three parts first part deals with the description of the nbp the second part covers the theory and practices adopted by nbp and third part discuss the financial position of nbp , its analysis and at the end concluding remarks and suggestions are given for improvements . it was too much difficult for me to describe the functioning of such a vast organization within the limits . in spite of this i tried my best to describe . finally , for any all too fallible errors , omissions and shortcomings in the writing of the report only i am responsible for which i hope that all concerning regards of this report will forgive us . salma bashir b . com ( hons . )
national bank of pakistan is today a progressive , efficient , and customer focused institution . it has developed a wide range of consumer products , to enhance business and cater to the different segments of society . some schemes have been specifically designed for the low to middle income segments of the population . these include nbp karobar , nbp advance salary , nbp saibaan , nbp kisan dost , and nbp cash n gold .
national bank of pakistan is the largest commercial bank operating in pakistan . its balance sheet size surpasses that of any of the other banks functioning locally . it has redefined its role and has moved from a public sector organisation into a modern commercial bank . the bank ' s services are available to individuals , corporate entities and government . while it continues to act as trustee of public funds and as the agent to the state bank of pakistan ( in places where sbp does not have a presence ) it has diversified its business portfolio and is today a major lead player in the debt equity market , corporate investment banking , retail and consumer banking , agricultural financing , treasury services and is showing growing interest in promoting and developing the country ' s small and medium enterprises and at the same time fulfilling its social responsibilities , nbp headquarters in karachi , pakistan with over 1 , 200 branches country wide . the bank provides both commercial and public sector banking services . it has assets worth usd 12 . 293 billion in 2007 . its subsidiaries include nbp capital , nbp modaraba management company , nbp exchange company , taurus securities , nbp almaty et al . '
jubilee life’s mayanaz plan in assistance with national bank of pakistan puts the collective knowledge of our financial experts to work for you . aimed at optimizing your investments and increasing your returns , this plan is perfect for those who realize the need for secure investments and expert advice , without having to take the focus away from their core concerns , jobs and businesses .
the national bank of pakistan has implemented special credit schemes like small finance for agriculture , business and industries , administrator to qarz - e - hasna loans to students , self employment scheme for unemployed persons , public transport scheme . the bank has expanded its range of products and services to include shariah compliant islamic banking products . for the promotion of literature , nbp recently initiated the annual awards for excellence in literature . nbp will confer annual awards to the best books in urdu and in all prominent regional languages published during the defined period . patronage from nbp would help creative work in the field of literature . the bank is also the largest sponsor of sports in pakistan . it has provided generously to philanthropic causes whenever the need arose .
supreme court order not to affect summit bank depositors ( 09 . 07 . 2018 )
2 . dedication dedicated to my parents who always care me and most formative teachers , sir zafar & sir . yasin for their unwavering support and guidance . hailey college of commerce salma bashir roll number : 126 urltoken ( hons . ) session : 2005 - 2009 supervisor : sir . hassan mubeen alam national bank of pakistan samnanabad branch date of joining : 25 - 7 - 09 t0 24 - 09 - 09
the bank opened its branch in dhaka in august , 1994 . the bank opened its 2nd branch in april 2004 at agrabad , chittagong in bangladesh to extend state - of - the - art computerization banking service to the people of the port city and commercial capital of bangladesh .
this section provides information about immigration policies / laws of pakistan . issues like dual nationalities , etc are also being mentioned . read more . . .
in a simple ceremony both organizations sign mou , chairperson prime minister’s youth program leila khan and chairperson bisp marvi memon witness the event . mr . mudassir h . khan sevp , & group chief , commercial retail banking group ( crbg ) , national bank of pakistan , and ms . nageenrizvi – vp & unit head marketing & promotions pmybl , commercial , retail banking group .
the bank is a member of swift ( nbpnbddh ) which provides a fast , secured and accurate communication network for financial transaction .
46 . internship report national bank of pakistan 6 . pass book pass book is another important type of book handed over to the customer as he opens the account with the bank . the withdrawal and deposit of money is recorded date wise in this book . 7 . recording into general ledger : the concerned officer records the name and amount deposited with the bank in to general ledger . separate ledgers are maintained for different types of accounts e . g .  current account ledger  saving account ledger  fixed deposit account ledger  call deposit account ledger as and when customer will deposit the money , amount will be credited in general ledger and the withdrawal will be followed by a debit entry in the ledger . iv . documents enclosed by customer documents required to be attached by the customer are different for different categories . documentation in case of individuals account ∗ copy of cnic / nicop / poc ∗ copy of driving license in case cnic is without photograph ∗ applicant photograph and vnic copy ∗ copy of service card / evidence of employment in case of salaried person ∗ photographs in case of illetrate person ∗ copy of cnic of next of kin . ∗ zakat exemption declarartion ∗ evidence for exe , ption of account from levy of service charges ∗ proof of age in case opening of account with minor documentation in case of private / public limited company accounts : ∗ photocopy of national identity card of each director ∗ application form ∗ copy of company’s memorandum and articles of association ∗ list of directors ∗ copy of board resolution 38
13 . 6 . commercial & retail banking department : national bank of pakistan serving following product lines : 1 ) premium aamdani scheme : - monthly income scheme2 ) premium saver scheme : - yours saving reward ( pls saving account ) 3 ) saiban scheme : - open the door to your dream home ( home financing ) main features of this scheme are as under . •finance is available for : •home purchase•home construction•home renovation•purchase of land + construction sahar khan
for managing your queries & complaints contact us directorate general of immigration & passports headquarters , mauve area , g - 8 / 1 , islamabad , pakistan .
management of all funds is centralized and remains in the exclusive controls of edhi with his son faisal edhi and daughter kubra edhi who are personally involved in all operations of the foundation . they are also responsible national and international fund - raising .
10 . bank ' s profile the nations ' s bank type government kse : lse established ١٩٤٩ headquarter principal office , karachi pakistan key people s . ali raza ( president & chairman ) industry banking , capital market products loans , credit card , savings , consumer banking etc deposit ٦٢٤٩٣٨ million net income ١٥٤٥٩ million total assets ٨١٧٧٥٨ million number of employees ١٥٢٠٤ number of branches ١٢٧٦ home page urltoken
ordinance , 1949 in order to cope with the crisis conditions which were developed after trade deadlock with india and devaluation of indian rupee in 1949 . initially the bank was established with the objective to extend credit to the agriculture sector . the normal procedure of establishing a banking company under the companies law was set aside and the bank was established through the promulgation of an ordinance , due to the crisis situation that had developed with regard to financing of jute trade . the bank commenced its operations from november 20 , 1949 at six important jute centers in the then , east pakistan and directed its resources in financing of jute crop . the bank karachi and lahore offices were subsequently opened in december 1949 .
41 . internship report national bank of pakistan  profit is paid on maturity . fixation schemes of nbp nbp offered following types of fixation and saving schemes • pls special notice term deposit reciept - pls sntdr • pls monthly income scheme – pls mis • premium saver scheme - pls saving account • premium amdani scheme 5 . foreign currency accounts these are the accounts in us $ , pound , euro , yen etc . of different account holders and either saving or current accounts . profit is fluctuating as determined by the state bank of pakistan on six monthly bases whereas return on term deposits / sntd will paid on maturity . the transactions in these accounts are translated into pak . rupees at the exchange rate prevailing on the date of transaction . account opening section account opening section of the bank can be considered the most important department because banking starts with the account opening . every customer of the bank either he is of credit section or foreign section or any other department must have his account in order to get benefit and transaction with the bank . therefore it is considered the most important section of the bank . account opening officer take special consideration for the proper recognition of the customers . this section performs the following functions : • opening of accounts • issuance of cheque books • closing of accounts opening of accounts the opening of an account is the establishment of banker customer relationship . before a banker opens a new account , the banker should determine the prospective customer’s integrity , respectability , occupation and the nature of business by the introductory references given at the time of account opening . preliminary investigation is necessary because of the following reasons .  avoiding frauds  safe guard against unintended over draft . 33
the main branch of jsc sb
national bank of pakistan
in kazakhstan is sutuated at 27 a , nauryzbay street , kaskelen , karassay region . this is a three - storied building with a basement . the branch is located in the city center . the city itself is famous because of the birth place of the president of kazakhstan . the branch is ideally located to meet the requirements of the local , as well as the customers from adjoining villages as shamalgan , uzunagash , kiz , raimbek , kamenka , etc . it is also easily accessible through public tansport system .


ace hotel is a chain of hotels headquartered in portland , oregon .

it operates hotels in portland , new york , palm springs , panama city , panama , london , seattle , pittsburgh , los angeles , and new orleans .

ace hotel

a claim may be rejected by ace hotel & suites if it is incomplete or concerns a non - ace hotel & suites website .
ace hotel & suites will make available the best guest room \ price for the hotel ( the
best price guarantee
) .
ace hotel & suites website
are the websites owned or operated by or on behalf of ace hotel & suites bearing the logo and branding of ace hotel & suites .
ace hotel downtown los angeles : the story of an l . a . icon
ace hotel & suites may deny claims where the difference between the competing price and the price on the ace hotel & suites website is less than one percent .
ace hotel is due to open hotels in los angeles and panama later this year .
how ace hotel is redefining cities across the u . s . - condé nast traveler
deluxe room at the ace hotel . spacious room with high ceilings , large windows and large bathroom .
ace hotel downtown los angeles : the story of an l . a . icon | discover los angeles
ace hotel & suites will compare the total room cost of a stay , and multiple claims for a stay consisting of two or more nights in the same week at the same ace hotel & suites .
universal design studio has designed the interiors for the new ace hotel , opening in london’s shoreditch this week .
the best price guarantee does not apply to existing reservations that are not booked through a ace hotel & suites website , and ace hotel & suites is not responsible for any fees associated with cancelling a reservation made through a different channel ( e . g . , a call center , a non - ace hotel & suites website ) .
the claim must be submitted prior to , or within 24 hours after , making a reservation through a ace hotel & suites website , and at least 24 hours before the standard check - in time at ace hotel & suites .
the best price guarantee will be suspended during times where the ace hotel & suites websites or certain prices are not available due to an outage , a technical issue or a circumstance beyond ace hotel & suites \ ' s reasonable control .
alex calderwood , left , an owner of the ace hotel , in the bar . bottom right , the lobby’s library - style tables ; top right , the hotel’s stumptown .
if a valid best price guarantee claim is submitted without an existing reservation , the individual making the valid claim will be contacted by ace hotel & suites and must make a reservation in the manner communicated by ace hotel & suites within 24 hours from receipt of the communication or local check - in time at ace hotel & suites hotel . failure to make a reservation in the required time period will invalidate the claim .
ace hotel & suites will convert any competing price offered in a different currency than the price made available through the ace hotel & suites website , and may deny claims where it determines that the difference between the price is due to exchange rate fluctuations .
ace hotel group ' s kelly sawdon gives a tour of the historic theatre at ace hotel , describing its origin as charlie chaplin and mary pickford ' s united artists theatre and its present - day role as a hub for live music , film and the performing arts in downtown los angeles . see the full story here : how ace hotel resurrected one of dtla ' s most spectacular theaters .
it ' s 108º in la today . the rooftop at ace hotel downtown los angeles has a pool and heatwave specials til sundown .
ace hotel & suites promises its customers that by booking directly , you are getting the best deal online . if you have a confirmed direct online booking with ace hotel & suites and find a cheaper price for the same offer within 24 hours on another website , we will match that price .
universal design studio worked with the brand’s in - house team atelier ace on the designs , and was approached by ace hotels for the project around may last year .
sawdon says ace executives considered several neighborhoods for the hotel , but decided on the up - and - coming west loop because they felt it fit their brand .
from photo shoots on the mezzanine to parties in the lobby or premieres on the main stage . the theatre at ace hotel is available for a variety of events .
the former united artists theatre and office tower now enjoy new life as an ace hotel with a beautifully rehabbed theatre , ushering in a whole new era of entertainment .
an article on jan . 30 about the ace hotel in manhattan referred incorrectly to mcmaster - carr , which supplied a lamp in the hotel . it is based in chicago , not california , and it is an industrial supply company , not a manufacturer .
ace hotel & suites has the sole right and discretion to determine the validity of any claim and will not review documentation provided by the individual submitting a claim as part of its validation process . ace hotel & suites reserves the right to deny a claim , if it cannot independently verify the availability of a competing price at the time it processes the claim .
the ace hotel chain is headquartered in portland , oregon . it operates hotels in portland , new york , palm springs , seattle and washington and this is its first offeroutside america .
until now , it was the ace that held the reputation as the most achingly hip hotel in town . even if you weren ' t staying at the hotel , the ace had the great idea to open the pool and the bar to everyone . you could spend all afternoon in the pool if you wanted to , for the price of a $ 7 mojito .
in 2012 , the building was converted into the boutique ace hotel , and the theatre was restored as an event and performance space . this project received a conservancy preservation award in 2014 .
yet calderwood insists that each ace reflects its location , not a northwest sensibility ( for example , ace hotel and swim club palm springs , california , opening in january , has a desert feel ) . “the design captures the industrial heritage of manhattan , the grittiness , ” he says .
the alterna - rag is a fitting neighbor for the ace , which opens in february . years ago , the seattle native and friends wade weigel , doug herrick and jack barron decided to create a chic , minimalist hotel priced on a sliding scale ( the low end meant shared bathrooms ) . in 1999 the ace hotel seattle opened ; in 2007 another one followed in portland , oregon .
opened its doors this spring , the eighth entry from the ace hotel group—which , if you haven’t noticed , has been on quite the tear lately . but of course you’ve noticed : these days , no one can ignore ace , even those who don’t wish to sleep in its loftlike rooms or sip artisanally roasted espresso in its artfully weathered lobbies . the brand continues to expand at a rapid clip . in the near future , if you visit a major american city—or just live in one—you might not stay in an ace hotel , but you may wind up in a neighborhood that ace put on the map .
this pet - friendly hotel also provides free rental of custom tokyobike , so you can explore downtown l . a . on two wheels – if you choose to leave the hotel at all .
you forgot south bay ! shade hotel in manhattan beach also has a great summer pool party .
we picked the ace hotel based on the price even though we were a little wary of the “shared bathroom” situation . we were soooo surprised with this hotel . the front desk staff was incredibly helpful and friendly , even at 10 : 30pm when we arrived . . . . and again . . .
ace hotel & suites may at any time and without notice terminate or restrict a person \ ' s ability to submit a claim under or otherwise benefit from the best price guarantee , if in its sole discretion ace hotel & suites determines that such person has : ( 1 ) acted in a manner inconsistent with applicable laws or ordinances ; ( 2 ) acted in a fraudulent or abusive manner , ( 3 ) submitted multiple invalid best price guarantee claims ; ( 4 ) failed to stay at ace hotel & suites hotels after receiving approved best price guarantee claims ; or ( 5 ) breached any of these bpg terms .
vip partier — $ 200 : attend the genre ball at liberty hall at ace hotel new york and a vip reception at the electric literature offices with literary libations , hearty appetizers , and prize - winning authors .
i believe they do offer an umbrella borrow service although i have only ever used it at another ace property .
the second annual genre ball will be held the friday before halloween at liberty hall at ace hotel new york . it’s the costume party you’ve been waiting for , complete with fabulous prizes ( win a free stay at the ace ! ) , delicious cocktails , dancing , free books , and famous authors wearing funny outfits and facepaint .
the chicago ace hotel is at 311 n morgan st . , chicago , 312 - 764 - 1919 . rooms begin around $ 150 for a small . go to acehotel . com / chicago for dates and rates .
void where prohibited by law . ace hotel & suites reserves the right to amend , revise , supplement , suspend or discontinue the best price guarantee or these bpg terms at anytime in its sole discretion and without prior notice .
with clairvoyant location - scouting , ace hotels and other industry players are redrawing the map of cities we thought we knew .
in the unlikely event that a lower price at ace hotel & suites is made available on a non - ace hotel & suites website ( the
competing price
) , upon its receipt of a claim that satisfies these best price guarantee terms and conditions ( the
bpg terms
) , ace hotel & suites will honor that competing price and provide the individual that submitted the valid claim one of the following : ( 1 ) an additional 10 % discount off the competing price per room per night ; or ( 2 ) a voucher that the guest can use during their stay , the amount of the voucher will be equal to the difference between the original reservation rate and the competing price .
the price you found is 12 % lower than this hotel ' s average rate of $ 244 / night .
the price you found is 12 % lower than this hotel ' s average rate of $ 318 / night .
the price you found is 14 % lower than this hotel ' s average rate of $ 177 / night .
the price you found is 11 % lower than this hotel ' s average rate of $ 246 / night .
the price you found is 11 % lower than this hotel ' s average rate of $ 238 / night .
any disputes arising out of or related to the best price guarantee or these bpg terms shall be handled individually without any class action , and shall be governed by , construed and enforced in accordance with the laws of ace hotel & suites .
bottom line ; once they have your money , the theater at ace hotel does not care about crowd safety or control , beyond lip service . if you do have an issue that requires their help , yer outta luck and there’s no accountability…
sailed out of pier 91 bu it was a short ride away which was arranged for by the hotel for $ 8 a person . we arrive at the hotel around 3 : 45 unfortunately it was 4 : 30 . . .
each room at the ace is as individual as each city’s hotels . refusing a cookie - cutter approach to accommodations , the ace makes every stay in their hotel different , depending on which room you book . choose between a variety of sizes – ranging from small , medium and large to lofts and suites – with or without a terrace and / or a kitchenette .
in advance of the reincarnated space ' s official relaunch next friday , february 14 , curbed was given a tour of the venerable venue last week by gregory randall and janet olson of chicago architecture firm grec architects , who worked on the restoration and design of the hotel and theater , along with ace ' s in - house design team ace atelier and locals commune design .
it looks as if mr . calderwood is taking the partnership’s dissolution in stride . the new york hotel , he said , “feels like ace — it feels like what we intended . ” and anyway , now he’s on to the next project , an ace in los angeles , or maybe chicago , or maybe tokyo — wherever he can meet cool artists and buy cheap lamps .
the ace is big . a relic of an earlier era , it offers plenty of room , not just in the lobby but in liberty hall , the basement bar and performance space , and in the restaurants , and the shops , and the hallways and corridors that lead between all these pockets . you can just hang out here in a way you never could at a w hotel , the embodiment of an earlier hotel - as - nightclub era . it’s the hotel as hipster mall .
when we renovate a historic building , we want to make sure to preserve the building ' s essence and its past lives . ace hotel chicago was once home to a turn - of - the - century cheese - making factory , and we were able to preserve and restore the brick facade on the historic building ,
says kelly sawdon , ace partner and chief brand officer .
prices offered on on - request websites that do not provide immediate hotel confirmations ( e . g . , asiaweb ) .
jason holley , universal design studio director , says , ‘we find it really interesting how [ ace hotels ] try and make each hotel become a genuine thread in the fabric of the neighbourhood . within their dna is this idea about responding to a locality . ’
i stayed here over memorial day weekend for a solo trip . i flew into ewr from san francisco and took the train to penn station and walked 10 minutes to the ace hotel . check in was easy , i arrived around 1am so there was no . . .
the next phase of expansion brought in a new partner , jack barron , an architect who’d contacted mr . calderwood through the ace web site . after several false starts , the four partners found themselves in possession of the blocklong run - down clyde hotel , in portland .
hello , does anyone know if the ace offers an umbrella borrow service ? it would be one less thing to pack which would be helpful .
i checked out this afternoon after six nights on a business trip . this hotel as a hotel is great i love the vibe the service the rooms the design the comfort it all rally very good . i had one of the best beds i have . . .
in - room guitars , vinyl lps and record players are just some of the in - room accouterments at the new ace hotel in chicago . you ' re free to play them all weekend ( as long you don ' t disturb the neighbors too late , or course . )
this was my first trip to seattle . i arrived for a photo shoot ( ace hotel has beautiful white walls and historic details ) - and was not disappointed . amy and her team ensured i was given a room with brick walls and plenty of windows . i stayed . . .
the estimated value of value - added amenities ( e . g . , free breakfast , use of wifi , vouchers ) offered as part of a competing price will be excluded from the price comparison , and will not be provided by ace hotel & suites when honoring a lower price .
taking over the entire ua building – which later housed texaco’s offices – the ace hotel downtown los angeles officially opened its hotel in january 2014 and reopened the theatre in february . this particular instance of their adaptive reuse is unique to los angeles and oh - so - hollywood . it’s also an exciting jewel in the crown of other revitalized and restored broadway theatres , including the orpheum , palace , los angeles and million dollar theatres .
in addition to the guitars and lps , other unusual features in the 159 - room hotel included locally written books and locally stocked minibars in each room , including chicago brands rx bars , milk & honey oatmeal , koval distillery dry gin and terry ' s toffee . each room or suite includes artwork unique to each room , created by a student of the school of the art institute of chicago on ace hotel chicago letterhead stationery .
the rosslyn hotel ( 1914 ) and its annex ( 1923 ) across the street were designed by john parkinson in the popular beaux arts style . at one time it was the largest hotel on the pacific coast , with 1 , 100 rooms and 800 baths between the two structures .
and human the ace definitely is — for better and for worse . the story of the ace is the story of mr . calderwood . and his story , as befits the age of social networking , is one of an ever - expanding circle of friends , partners and , inevitably , ex - friends and former partners .
universal design studio says that the shoreditch hotel interiors are inspired by the area’s ‘making’ history , designing a ‘contemporary take’ on traditional buildings and shop fronts .
if you choose to pay less for shared bathroom space , this hotel is quaint and small . most likely , you will . . .
i stayed at the ace hotel last year for business ( recommended by a friend ) and then a solo weekend in new york . it ' s a great midtown venue with clean and well - described bedrooms ; many of them are small but they are certainly adequate and well - appointed . i . . .
plus , if the ace hotels weren ' t on your radar already , right now they are offering great deals for summer stays at their locations around the world .
a similar metamorphosis occurred a decade later in the dead center of manhattan ( emphasis on dead ) . what we now call the nomad district , south of times square , was until 2009 an in - between zone of wig wholesalers and sidewalk patchouli - hawkers—before ace took over an abandoned hotel and , with its deep leather couches and communal workspaces , created the hottest lobby scene in town . ( the upmarket nomad hotel , a block south , followed three years later . )
though it changed hands frequently over the following decades , the united artists theater stayed active as an arts venue until 1989 , including a long stint as a spanish - language movie house , and later as the broadcast site for televangelist dr . gene scott . following a meticulous restoration of the then - vacant movie palace , ace cut the ribbon on the theatre at ace hotel in february of 2014 — and we ' ve been doing our best to honor the maverick spirit of its founders ever since .
, collaborated on the interior design . still , its industrial patina bestows a frontier cachet . head up to the ace’s rooftop pool and you can gaze over the aging brick buildings that give the area its name . beyond are the towers of the central business district , and beyond that—unseen and unheard from the ace—the neon throb of the french quarter .
. join us to celebrate the installation of the final piece of public art at the hotel ( for now ) : the nesci dome . 6pm on prairie .
on labor day of 2009 we opened our first café in new york in the lobby of our good friends , the ace hotel . that space is usually filled with a mix of artists , capitalists , vagabonds , ne’er - do - wells and beautiful people . don’t miss the incredible architectural details in this turn of the century building .
people also recognize the ace hotel by the tower on top of its roof . when it was built in 1927 , the tower actually made the building exceed the height limit at the time - no building could be taller than city hall . but because the tower housed elevator and other types of equipment , and the building permits called it
signage ,
it was allowed . the ace cleaned years of grime off the tower before its grand opening , and now its interior houses an indoor bar . upstairs is a bar , lounge , and pool area in and around that tower , accessible by an express elevator that can take hotel guests and the public directly from the street to the roof .
now known as the theatre at ace hotel , the former ua theatre is once again showing movies – both new releases and nostalgic selections , in partnership with the sundance institute , cinespia and the los angeles conservancy’s annual “last remaining seats” program . it ' s also hosted live reads and screenings like the empire strikes back and the mad men series finale .
the hotel sits on the original site of the shoreditch empire music hall , which opened in 1856 , designed by frank matcham . the hotel comprises 258 guest rooms , an event space , a 100 cover restaurant and 50 cover bar , and lounge and reception area with retail units , a bar , a café and an art gallery .
we ' re a few blocks from the morgan lake l station and within walking distance to much of chicago ' s best dining . . . . the thriving art , design and food culture of the west loop , as well as the narrative of ingenuity that underlies the city as a whole , [ have ] inspired ace hotel chicago immensely .
walking to most of the cites major attractions the hotel is a little dated but clean the staff was always very friendly and helpful the breakfast offerings were just . . .
another prominent naysayer is mr . barron , the ace partner whose ideas about “nodal points” the hotel would seem to embody . during the development , mr . barron said , his relationship soured with mr . calderwood and with gfi capital resources group , the company that invested $ 140 million in the project , to the point where mr . barron withdrew from involvement .
for the competing price to be valid , it must be a currently available lower published online room price for ace hotel & suites , the same stay dates , the same number of guests , the same room type , with a similar view and room size , and include similar or additional value - added amenities ( e . g . , free breakfast ) .
as mr . barron described it , his theory was to make the hotel a “nodal point” in the city . “the whole idea was to sell the place , not the hotel , ” he said . “you know ? we didn’t want to toot our own horns , we wanted to talk about what a wonderful place we were all in . ”
one day ( ace - related stories frequently begin with serendipity ) someone offered mr . weigel and mr . calderwood the lease on a 28 - room flophouse in the belltown area of seattle .
our visit was a short one - night stay , but the hotel is on the agenda for next time we visit . though we have always stayed closer to the city center when we visit chicago , the ace ' s cool vibe , walkable area and great amenities , from the rooftop bar to city mouse - - and especially those guitars - - has us hooked .
one night , after a few hours of hanging out at the ace , i finished my nearly perfect lamb burger at the breslin , paid my bill and caught a taxi outside . as the driver , ayman eltal , turned down broadway , he asked me , “is that a restaurant ? ” briefly , i explained the ace’s history , and mr . eltal let me in on a secret .
if you’re looking to party poolside in the heart of hollywood , this longstanding hotel is your perfect go - to . on the weekends , you’ll often find tinseltown’s it crowd at the
prices offered by opaque providers ( e . g . , hotwire , priceline ) that do not provide the name or location of the hotel until after a reservation has been made ; and
the people who throng the ace are fashionable , but not overly so ; no one appears eager to turn heads with a striking outfit or outrageous hairstyle . to do so might be to acknowledge , however subtly , that the ace — their club , their office , their living room — is a bona fide scene , whose aesthetics and business model are redefining the overlapping worlds of drinking , dining , sleeping and shopping .
for now , ace is showing it can keep adapting . in new orleans , the warehouse district had been farther along than east liberty or nomad—already home to the national world war ii museum and five of donald link’s
before we left on an alaskan cruise . it was convenient to the pier and downtown . the hotel concept consisting of couches and games in the lobby , check in at the bar . . .
the theatre reopened with a concert by english band spiritualized and has since hosted a wide range of music acts , dance performances , stand - up comedy and more . guests staying at the hotel have their pick of on - site entertainment nearly every night of the week . the theatre’s original box office has been taken over by moon juice , a juice shop that provides complimentary delivery to any of the ace rooms .
when the new ace hotel opened in early 2014 , we didn ' t just gain a super hip hotel in an up - and - coming part of dtla . we also got a jaw - droppingly beautiful 1920s movie house - turned - performing arts space , which has since billed an impressive lineup of performances , concerts , movie nights , lectures and more . the former flagship united artists theater is a 1 , 600 - seat house with a beautifuly ornate , three - story lobby . when you visit , make sure to step out from under the balcony to admire the vaulted ceiling with thousands of shimmering mirrors .
dumps out the rest of its bag of tricks : proving it can cast indie - rock stars ( in this case , colin meloy , james mercer , and corin tucker ) , but giving them deadpan , dead - end roles . winkingly alluding to local institutions ( in this case , the ace hotel ) with you - have - to - already - know exclusivity . ending on an inconclusive , punchline - less “
hello heather - i hope that you were able to book your stay with us . all of our rooms at the hotel have tv located in them along with complementary wifi , movie selection and cable .
work place . nice rooms , some noise due to the roads . but all in all a nice hotel . 20 different channels showing yoga core and cardio training , to be used together . . .
hotelier alex calderwood , who bills himself as a “cultural engineer” on his business card ( which bears his name in english , chinese and japanese ) , is unfazed by the prospect of opening a branch of his hipster ace hotel chain on a less - than - fashionable corner of manhattan : the intersection of west 29th street and broadway , which teems with bootleg fragrance shops and vendors hawking pleather belts for two bucks a pop .
some people , in fact , hate the ace — although that doesn’t necessarily keep them away . one couple told me the ace was too hip for them , but they loved the pickle - backs . “this would be a shot of whiskey chased by a shot of pickle juice , ” the young man said , observing the lobby scene with disdain . “and the pickle juice here is house - made , therefore it is the best pickle juice . ”
hotel . friendly staff . safe . great bed . great linnens . we had separate kitchen . attached extra “room” for roll away bed . ( this is not closed off from rest of room . . .
if you ' ve never been to the theatre at the ace , you absolutely must in order to the see this gothic beauty with a hauntingly exciting feel . many cool events are put on in the lobby of the theatre , but its narrowness can make you feel cramped if the place is near capacity . the actual theatre auditorium is very well kept and maintains its historic grandeur . the rooftop of the ace is a fun place to head over after any event in the theatre .
the rooftop lounge on the hotel ' s seventh floor has panoramic views of the chicago skyline , along with innovative cocktails . there is also a garden terrace
prairie ,
planted with wildflowers , that also offers downtown views .
on a stormy day in january , kelly sawdon , chief brand officer for the ace hotel group , and brad wilson , the company’s president , stood inside an old furniture store in new orleans , watching a construction worker push a sander across the floor . in two months , if all went according to plan , the space would be filled with guests and curious locals . but for now , coils of wire lay on the floor , and the thick smell of paint hung in the air .
craig greenberg , president of 21c , won’t discount the possibility of going into established sections of major cities . “but it’s a unique and extremely exciting and satisfying experience to open a hotel in a place like an old factory , ” he says . working on the fringes has its challenges , greenberg stresses . “if you’re going to an established area , it’s easier to get the required funding . ” with an emerging location , investors can be cagey : is there enough cultural infrastructure to support a hotel ?
ultimately the ace is betting that its downtown dream team can transcend a démodé enclave . “to us , it’s like we can be pioneers right in the middle of manhattan , ” says friedman . “ [ but ] i don’t want the area to become more chichi . god forbid it becomes like the meatpacking district . ” calderwood , who lives a few blocks from the hotel , agrees . “i think we’re going to be the heart of the neighborhood . this will be a living room for all the people around it . ”
this stretch of broadway has been a holdout in downtown’s decade - long overhaul . it has a unique street culture , with bustling marketplaces of wholesale jewelers and discount shops . the ace , which caters to guests who can distinguish paper from wallpaper magazine , will likely change that landscape . several upscale residential developments within a block of the new hotel are in the works , in addition to an urban outfitters . gentrification is hardly a sin , of course , but it’s a shame when signature parts of a neighborhood can’t be saved .
ace is a good value option in seattle - if you take a room with shared bathroom that is - which you should not hesitate to do as the shared bathrooms are very convenient , clean , private , near the rooms , quality toiletries , etc . the room was . . .
running barbershops satisfied neither man . mr . calderwood was busy giving parties for apple , microsoft and nike . “i’m just a barber and a tattoo pimp , ” mr . calderwood told interview magazine , which in 1994 photographed him — shirtless — at the chelsea hotel .
i have stayed at the ace in nyc twice and i love the dark masculine tasteful . super comfortable bed , great coffee shop and the restaurant and bar are great ( the lamb burger is amazing ) . staff was friendly , yet not over involved . first time i was . . .
hi dustin , thank you so much for your review . we ' re so glad you enjoyed your stay with us and got to know the area too . we hope to see you again very soon , dustin ! have a great week . xoxo , jason and the staff of ace . . .
hotel guests have full access to a private fitness center , which is tucked away on a guests - only level , and fully stocked with weights , machines and a vintage boxing bag . check out its cool reclaimed wood floor , even if you don’t opt for the workout .
and there , in a lamp , you have the essence of ace aesthetics . it’s not just that it represents retro cool . it’s also highly functional — indeed , purely functional ; mcmaster - carr is an industrial supply family - run chicago firm that makes u - bolts , sprockets and 480 , 000 other products .
hotel was nice , clean and staff was friendly . . . until i had to leave in a rush and forgot to give back their paper parking pass . that wasn ' t even for a lot close to them , but a lot that is 3 blocks up the street and . . .
this little hotel has a great advantage : location , location , location . it requires an adventurous mind . to begin with , nobody to help with your luggage and a huge set of steps to climb carrying the wait , just to reach the front desk ! if it is summer , . . .
in one of our final conversations , standefer says , “i thought of something this weekend that i wanted to say to you . ” calderwood had stayed with them at their house in montauk—he calls it “their laboratory”—as a short respite from the intense final weeks of the ace’s construction . the visit seems to have been an occasion for soul - searching by both parties , not just about the hotels but about their deepest sensibilities—about who they are as designers and where , given these successes , they go next . “i’m finding that as i finish both [ the standard and the ace ] i’m very interested in each for different parts of my own psyche , ” standefer says . “there’s an escapist quality and cosmopolitan quality to the standard . it’s more the zoolander model , a fantasy . in the other , i find myself . i got into that ace room , and it creates a platform to be you . i don’t feel like you’re escaping , but you feel comfortable . and that’s a very interesting difference to me . ”
this approach is hardly new . it’s been honed over two decades , ever since mr . calderwood , described as an easy - to - like social butterfly by those who know him , from bellevue , wash . , befriended wade weigel , who was hosting parties at seattle’s decrepit , formerly grand np hotel .
venture outside of roy choi’s greenhouse restaurant commissary and you can sip on cocktails and munch on plates poolside . while the restaurant certainly can keep the pool area low key , on weekends you’re more likely to find raucous pool parties at the koreatown hotel . the season kicks off with bashes on sunday and monday of memorial day weekend .
one solution , which 21c employed in cincinnati , is the private / public partnership—the city teams with the brand and its investors to co - fund a hotel in order to reinvigorate an area . greenberg points to increased foot traffic in neighborhoods where 21c has opened hotels , and to rising commercial rents , as indicators of the model’s success .
the rest of the hotel was built from the ground up - - an homage to mies van der rohe , the school of bauhaus , josef and anni albers and other heroes of chicago ' s design legacy . the new build allowed us to exercise our imaginations without restraint , playing for the first time with vast open spaces and proportions .
enjoy a cocktail by the bar or hang by the pool as djs spin from 1pm to 5pm on friday , saturday and sunday . though the wet deck is primarily reserved for hotel guests , daybeds and cabanas can be reserved for non - guests with food and beverage spending minimums . kick off the summer season with parties on memorial day and june 3 .
“we don’t view ourselves as just catering to a sort of bleeding - edge audience , or a bleeding - edge hip audience , ” he said in the ace’s boardroom , where a long custom - built wood table was piled with books like “dorfsman & cbs , ” about the network’s design director . “it’s the whole combination , or mix , but i think that makes it all human . ”
which means ( and this is important for the ace , too ) that the lamp is cheap . inexpensive lamps and unpainted metal doors mean there’s more cash available for room art . and it means the rooms themselves are affordable ( in new york terms ) , running from $ 169 a night for a modest - size bunk - bed room to around $ 800 a night for a suite .
during renovations , the partners brought in their friend doug herrick to run the operation . when ace seattle opened in 1999 , they had another hit . the atmosphere ( shepard fairey , now famous for his barack obama posters , did room art ) and affordability ( rooms with shared bathrooms started at $ 65 ) struck a chord in a city reconciling its grungy roots with its high - tech wealth .
scratch hotel that palm springs has seen in the past 10 years , and people are encouraged to come and hang out at the 32 - room cedar and steel chill palace . swim in the pool , play ping - pong at the over - sized tables , eat in the airy reservoir restaurant or have a home - made lavender ice cream in the attached ice cream shoppe .
walk into the ace hotel , on the corner of broadway and 29th street , at any given time , and here is what you may find : the band jác might be playing in one corner of the vast lobby , their horn - and - accordion tunes bouncing off the century - old mosaic floor , the dark wood paneling , the 17 1 / 2 - foot white columns . in one of the red - suede sofa nooks , under a huge american flag bought at the brimfield antique show , a motley crew of friends from washington — a women’s - wear designer , a tour guide , a defense contractor — might be striking up a conversation with the british pop - soul singer edei . in the middle of the lobby , the long library - style black tables have been colonized by macbooks .
film’s golden age faded and the oil biz moved elsewhere , but the movie house remained , playing primarily spanish - language films for the neighborhood’s growing latino population . in 1989 , the televangelist dr . gene scott took over the building and installed the jesus saves sign . the cigar - chewing scott , who peppered his fiery sermons with profanity and pleas for money , died in 2005 . ace bought the property six years later .
but as the market grows crowded with uniquely decorated hotels in transitioning neighborhoods , how long can the hipster - hotel bubble last ? “instead of being the eleventh hilton - type brand downtown , you look to the fringe , ” says lauro ferroni , senior vice president at real estate adviser jll’s hotels & hospitality group . “but one limitation is there are only so many interesting sub - markets . ”
we found the area quite welcoming during our recent stay , and just about a 15 - minute uber ride from michigan avenue and millennium park ( without traffic ) . we walked on the return trip , much of it a pleasant journey along the river , which took about 40 minutes . the hotel is also a short walk from greektown , with all the dining and shopping that area has to offer .
their success has encouraged other hospitality brands to take a similar tack , putting hotels in places that might scare off mainstream developers . what ace has done for low - profile neighborhoods , the louisville , kentucky–based 21c group has done for lower - profile cities , opening art - driven “museum hotels” in places like louisville and cincinnati . four more hotels are now in the works , including one that just opened in a derelict model t factory in oklahoma city .
and if you want a break from all that hip - ness without breaking the bank ( and have some more marilyn monroe mythology thrown in ) , then the monkey tree , built in palm springs ' famous ' mid - century modern ' style , could be the place for you . this time the monroe story revolves around a trip made here by the actress and jfk back in 1962 . previous brooklyn - based owner , kathy friedle admits that there ' s no photo evidence about the actress ' s stay but the hotel ' s famous designer , albert frey , noted in a journal that she resided one weekend in room 15 , which has its own private patio entrance - perfect for body guards to monitor goings - on . the hotel later became a famous ' clothing optional ' resort , until kathy and her husband gary took it over this year .
just when you thought palm springs couldn ' t get any hotter , the hip thermometer shot through the roof . how about sightings of suki waterhouse drinking bloody marys with squid ink and truffle oil at the new l ' horizon , the most exclusive hotel palm springs has ever seen ? or caitlin jenner spied tucking into prime rib at the freshly - opened mr . lyons steakhouse , famous for its 19th century english décor dating back to the 1940s ?
while the venue ' s opening night event , a spiritualized concert , is sold out , tickets are still available for its february 20 to 22 events with la dance project , the troupe founded by star choreographer / paris opera ballet director benjamin millepied . the company will be launching its residency at the ace with a program that includes the premiere of
reflections ,
a piece featuring choreography by millepied , music by pulitzer prize - winning composer david lang , and costumes and visuals by artist barbara kruger .
the building , the first ace built from the ground up within a historical facade , was designed by grec architect in the new bauhaus style to evoke mies van der rohe ' s work at the illinois institute of technology . simple , clean lines are complemented by natural leather , wools and linens . fresh touches include laminated recycled plywood lining the elevators , for instance . and though our utilitarian - looking metal - frame bed didn ' t look especially inviting , it was surprisingly comfortable - - especially after our 51 / 2 - hour drive .
calderwood already had a name in seattle : during grunge’s heyday , he threw warehouse parties to which the flannel - clad set , including members of pearl jam , flocked . soon he was organizing over - the - top events for microsoft , among others ; next he and weigel started rudy’s , an old - school barbershop , which expanded to 14 west coast locations . a rudy’s and a stumptown coffee shop , a portland favorite , will make their east coast debuts on the new hotel’s first floor .
the flow of people is a constant : into and out of the breslin and th e john dory oyster bar , restaurants run by april bloomfield and ken friedman of the spotted pig ; past a wall covered with two decades’ worth of graffiti - tag stickers ; into and out of the boutiques opening ceremony and project no . 8 ; into and out of the brass - floored elevators — those ancient , analog devices that lead to the ace’s 260 guest rooms , where you can pile onto bunk beds or settle into a corner suite with a guitar and a turntable .
wilson , in a white construction hat , strode across the lobby , shouting over the din . “unlike other properties we’ve worked on , this one wasn’t already a hotel , so there was a lot to be done upstairs , ” he said . “but with the lobby , we’re hoping to preserve some of the original feel . the beautiful old moldings up there will stay . ” he pointed . here would be a stumptown café , the first south of the mason - dixon line ; there , a stage for visiting musicians .
on the fifth floor of the ace , in one of the 711 - square - foot corner suites at the prow of this flatiron - style building with mansard roofs and a cupola , there is a metal lamp . it is not flashy . it has an adjustable arm , and its color lies somewhere on the brass - green spectrum . nearby is a wall bearing a re - creation of artwork by the late dondi white , one of the first graffiti artists to cross over into the mainstream art world . but it was the lamp that mr . calderwood lavished with attention .
rockers also need to eat , and the ace’s trump card is the team from the west village’s wildly popular eatery the spotted pig : chef - owner april bloomfield and restaurateur ken friedman . their ground - floor restaurant will have a turn - of - the - century new york vibe , with curtained booths and a vintage , charred - oak floor—“like a place you have a brawl [ in ] , ” chirps standefer—and will serve what friedman cheerfully refers to as “nose - to - tail cooking , ” adding , “eat the trotters , eat the ears , eat the head—it’s definitely not a place vegetarians are going to feel great in . ”
the mondrian hotel , west hollywood’s luxury boutique getaway , is home to the ever - popular skybar , a pool and bar that offers one of the best views in l . a . from may 26 to september 1 , angelenos can head to the rooftop for the ultimate weekend pool party , plainly dubbed dj day club at skybar . let loose and lounge poolside every saturday from 1 to 6pm to spins from resident djs while toasting to the freaking weekend . plus , be on the lookout for upcoming pool parties like the returning wicked paradise , which will hold court at skybar with sets from neon indian , classixx and more .
the catch is how cutting - edge they are—how hugely fashionable—at this precise moment . roman & williams is arguably the year’s hottest design team—a flimsy honor if ever there was one . standefer and alesch did gwyneth paltrow’s apartment ( in lavender ) and kate hudson’s house . in 2007 they replaced philippe starck’s famous lobby at the royalton . this spring , they completed the interiors for two of new york’s most prominent new hotels : andré balazs’s glamorous new standard , and the ace , the first east coast outpost of the eminently hip seattle brand run by alex calderwood . and then there is this quiet , little brick apartment house at the edge of soho , their first from - the - ground - up building and the project closest to their eccentric intent .
the avett brothers canceled the third of three scheduled performances at mcmenamins edgefield in troutdale amid a report from security that a concertgoer may be in possession of a concealed firearm .
victorian and retro - futurist costumes worn at eighth - annual meeting on saturday , july 7 in portland .
oregon democrat agrees president is right to go after unfair practices by china , but says tariffs imposed the wrong way hurt other leading trade partners of oregon .
the family of jason washington has demanded that the rest of the campus safety force disarm .
four - month project begins to improve conditions for salmon , birds and other species at urban wildlife refuge north of sellwood .
the young man ' s motorcycle impacted a car driven by a 65 - year - old gresham woman , police say .