Best Biggest Banks in Pakistan

Shortlist of TOP banks of Pakistan

Habib Bank Limited (HBL) – one of the largest banks in Pakistan involved in the commercial sector and financial services.
National Bank of Pakistan (NBP) – the biggest bank that is owned by the state and founded in 1949.
Meezan Bank – the most important Islamic bank in Pakistan that is based on Islamic law and was established in 1997.
MCB Bank – one of the oldest banks founded in 1947.
United Bank Limited (UBL) – the largest bank in the private banking sector with more than 1380 branches throughout Pakistan.
Allied Bank – a solid bank established in 1942 with more than 4000 employees.
Faysal Bank – one of the most powerful banks in Pakistan providing a range of financial services to small businesses and customers.
BANK ALFALAH – the only bank in the country controlled by the Abu Dhabi Group.
Soneri Bank – was established in 1991 and currently, it provides investment, retail services, and loans.
Askari Bank – a business and retail bank in Pakistan that is controlled by Fauji Foundation.
Standard Chartered Pakistan – the headquarter of this bank is located in Karachi, while its 94 branches are spread across the country.
Bank of Punjab – a modern TOP bank of Pakistan providing major services such as deposits in local and foreign currencies, consumer & corporate banking, and more.
Al Baraka Bank Pakistan – contributes to the development of the Islamic Banking sector in the country.
BankIslami Pakistan – was the first bank with a license to provide official Islamic banking in Pakistan.
Zakai Taraqiati Bank Limited – the popular bank created in 2002 is mostly focused on agricultural activities.
Summit Bank – one of the most important banks in Pakistan, and it is affiliated with Suroor Investments.
First Women Bank – founded by the former Prime Minister of Pakistan.
Industrial Development Bank – one of the oldest banks in the country providing financial support to the Pakistani manufacturing sector.
JS Bank – created in 2007 and owned by JS Group with international branches in the Middle East.
Bank of Khyber – owned by Khyber Pakhtunkhwa Provincial Government with more than 150 branches throughout Pakistan.
Bank Al Habib Limited – The sixth-largest bank in Pakistan with over US$14 billion in assets as of 2021.

So, what is the best bank in Pakistan? The State Bank of Pakistan (SBP) is Pakistan’s central bank. All Banks of Pakistan fall under the administration of the Central bank (SBP).

The banking sector plays an important role in the development of Pakistan’s economy.

Pakistani Banking System Structure

Commercial Banks
International banks
Islamic banks
Development Financial Institutions
Microfinance Banks

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1. Habib Bank Limited (HBL)

This bank was established in Mumbai in 1941 at the request of Muhammad Ali Jinnah (the founder of Pakistan) to help Indian Muslims. Based on assets, it is the largest bank in Pakistan. The HBL bank operates through the following sectors.

Branch Banking,
Corporate Banking,
Retail Financing,
SME and Investment Banking services.

Here are some other details about HBL bank:

The headquarters is in Karachi.
Serving customers through more than 1500 branches across different cities in Pakistan and 55 branches across different countries.
The network of approximately 2007 ATMs.

Habib Bank Limited is the largest bank in Pakistan. It is involved in the commercial banking sector and many financial services. The HBL also provides asset management services in Pakistan and abroad. The Bank’s divisions have Branch Banking, which includes loans, securities, and various banking services for agriculture, customer, small-scale business, and commercial clients.

2. National Bank of Pakistan (NBP)

The national bank of Pakistan is the largest state-owned bank founded in 1949. This bank acts as an assistant to the Central Bank. It is one of the best banks in Pakistan. This bank provides banking with a range of services in the commercial sector as well as in the public sector. Some other details about the National bank of Pakistan are mentioned below

Headquartered in Karachi, Pakistan.
Around 12000 employees.
1,450 branches across Pakistan.
21 branches internationally.
Serving customers through more than 1000 ATMs.
Representative offices are in Canada and China.

The National Bank of Pakistan has created a broad range of customer products, to improve marketing and provide to the various sections of society and reach its cultural engagements. Some projects have been particularly created for the low to middle-income parts of society. It has executed exclusive credit designs like microfinance for farming, industry, and entrepreneurs. It may be considered the best bank in Pakistan.

3. Meezan Bank

Meezan bank is one of the TOP banks in Pakistan. It is the First Islamic bank in Pakistan established in 1997. This bank operates according to the rules and principles of Islamic law. This bank has about 600 branches across different cities of Pakistan. The headquarters are in Karachi. Bank Alfalah was established in 1992 and it is the 5th largest bank in Pakistan. It operates through more than 600 branches across different cities in Pakistan and also has an international presence in Bangladesh, Bahrain, Afghanistan, and UAE. The Car Ijarah, given by Meezan Bank is the greatest interest-free car funding goods in Pakistan. The Bank also provides various services like Meezan Rupee Current Account, Karobari Munafa Account, and Savings Account. The financial products are completely based on financing policies and leasing.

4. MCB Bank

MCB is one of the biggest and oldest banks in Pakistan. It was founded in 1947. Here are some details about the bank:

Headquartered in Lahore, Pakistan.
Serving about 4 million customers.
More than 1100 branches across Pakistan.
About 8 branches in different countries.
Around 14,000 employees.

In 2005, the administration of the bank cut its title from Muslim Commercial Bank to MCB Bank to jump into global markets; they were encountering opposition due to the term Muslim particularly from Western Nations to get a permit.

5. United Bank Limited (UBL)

In the private banking sector, UBL can be the biggest bank in Pakistan but it is definitely the oldest one. It was founded in 1959. Here are some details about the bank:

More than 1380 branches across different cities in Pakistan.
International presence in more than 19 countries.
Headquartered in Karachi, Pakistan.

The bank has more than $15 billion in assets, a huge amount of employees, and a different client base including an extensive area of divisions and businesses over the world. UBL gives services in more than 12 countries like UAE, Bahrain, Qatar, China, Oman, Yemen, the UK, Switzerland, the US, Tanzania, Iran, and Pakistan.

6. Allied Bank

Allied Bank was established in 1942. The bank has more than 4000 employees. Allied bank has been serving its customers through more than 1100 branches and 1150 ATMs across different cities in Pakistan. The bank also provides short-term credit facilities to clients to reach their regular business/working money necessities and fund their lists, receivables, etc. In an interest to guarantee agreement, these facilities also require security in the body of the stocks.

7. Faysal Bank

The Faysal Bank was established in 1994, and it is one of the best banks in Pakistan. It provides a range of financial services in Pakistan. The bank has about 350 branches across 100 different cities and more than 3000 employees. Faysal Bank has launched several lending and deposit stocks for small companies and customers. It includes loans and other services like loans for buying raw materials, stocks purchasing machinery, and new machinery Trade finance.

8. BANK ALFALAH

Bank Alfalah Limited, established in 1997 is a single bank in Pakistan controlled by the Abu Dhabi Group. Bank Alfalah is the 6th largest bank in Pakistan with more than 640 branches in Pakistan and overseas. Chartered as a public limited partnership on 21st June 1992, beneath the Companies Ordinance, Bank Alfalah started banking services on 1st November 1997. The Bank gives business solutions to customers, businesses, organizations, and states through a wide range of products and cooperation. It also includes:

Corporate and finances investment
Customer banking, and credit
Securities brokerage
Advertisement, SME, agri-finance
Islamic and asset investment
Loans
Savings
Credit cards

Bank Alfalah employs over 7000 personnel and operates through a network of over 700 branches across Pakistan. According to a 2014 report, the bank records Rs.55.378 billion as revenue and a net income of Rs.8.513 billion. It also functions internationally in Bangladesh, Afghanistan, Bahrain, and the United Arab Emirates.

9. Soneri Bank

Soneri Bank Limited was chartered in Pakistan in the year 1991 as a public limited partnership under the Companies Ordinance. Its certified office is located at Rupali House Lahore, Punjab and its shares are priced on Pakistan Stock Exchange. The Bank is involved in:

Investment services as defined in the Banking Companies Ordinance, 1962.
Retail Banking services; current accounts, savings account, SME financing, Agricultural financing, pensioners account, consumer finance, deposit lockers, electronic banking, and SMS alert services.
Corporate and Investment Banking offers customers; cash management services, supply chain financing, working capital financing, and long-term financing.
Foreign Exchange Services.
Online Banking services.
Loans.
Credit cards.
It works with more than 290 branches including 21 Islamic banking branches in Pakistan.

The bank employs 3,526 personnel, and as of 2020, it reported Rs.1.9 billion as profit for 2019 via an annual financial report.

10. Askari Bank

Askari Bank is a business and retail bank in Pakistan and is controlled by Fauji Foundation. The bank was established in the year 1991, as a Public Limited Company. In 2013, the bank was procured by Fauji Group. The Bank is registered on the Pakistan Stock Exchange (PSX) and was also registered on various stock exchanges like Karachi, Lahore, and Islamabad before their alliance to make the unique united Pakistan Stock Exchange. The bank received its license from Banking Companies Ordinance. It provides services like:

Corporate and finances investment,
Customer banking, credit,
Securities brokerage,
Trading and Sales,
Retail Banking,
Commercial Banking,
Payment and Settlement,
Agency Services,
Asset Management segments.

Headquartered in Rawalpindi, the bank employs over 7,279 personnel with 440 branches across the country. According to a 2016 report, the bank reports a total of assets valued at US$5.6 billion and a net profit of US$47 million.

11. Standard Chartered Pakistan

The bank is headquartered in Karachi, Pakistan, with over 9000 employees included in its 94 branches across the country. Profits of the bank by the end of the third quarter of 2019 surged to Rs. 11.4 billion. The bank offers several products, including Loans, Credit Cards, Savings, and Consumer Banking.

12. Bank of Punjab

The major services provided by this one of the best banks in Pakistan include a deposit in the local currency, client deposits in foreign currency, remittances and advances to business, trade, industry, agriculture, Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, and wealth management. It has a wholly-owned subsidiary called First Punjab Modaraba which was established in 1992. Bank Of Punjab employs a total number of 6,092 persons and accordingly a 2017 annual report, records a net income of PKR 4.7 Billion and PKR 7.6 Billion in revenue.

13. Al Baraka Bank Pakistan

Al Baraka Bank Pakistan was created for the development of the Islamic Banking sector in the country. This bank was developed as a result of a merger of several Islamic banks in Pakistan. The banks collapsed together to form Al Baraka Bank. The banks were Emirates Global, Al Baraka Bahrain, and Al Baraka Pakistan. After the merger in 2010, the name Al Baraka Bank Pakistan was retained. In 2016, another bank was absorbed by Al Baraka Bank.

14. BankIslami Pakistan

Although Al Baraka Bank Pakistan is seen as the first bank to officially roll out Islamic Banking in the country, BankIslami Pakistan was the first bank to receive a license to operate as an Islamic bank. This bank has over 300 branches in more than 100 cities within the country. The bank’s merger with KASB Bank in 2015 increased its reach throughout the country, thereby making it among the biggest bank in Pakistan.

15. Zarai Taraqiati Bank Limited

This bank is a state-owned financial institution that is primarily concerned with agricultural activities. Created in 2002, the bank was initially referred to as the Agricultural Development bank. Zakai Taraqiati Bank provides small-scale, and large-scale farmers access to banking and credit services in Pakistan. To ensure that the bank functions as intended, it is restricted from delving into full-blown financial activities.

16. Summit Bank

This bank is a commercial bank that is affiliated with Suroor Investments. With its headquarters in Karachi, the bank has about 200 branches all around Pakistan. Although Suroor Investments is the majority shareholder in the Summit Bank, other financial institutions own shares within the bank. The name Summit Bank was given to this financial institution in 2010 after the overhaul of Arif Habib Bank.

17. First Women Bank

This bank began operations in 1989. Its founder was the late Benazir Bhutto, the former Prime Minister of Pakistan. First Women Bank operates as a commercial bank to serve women within Pakistan. Over the years, the Pakistani Government increased its shares within the company. Now, the Government owns about 80% of the bank.

18. Industrial Development Bank

Considered one of the oldest banks in the country, the bank has its headquarters in Karachi. The primary reason for the creation of the Industrial Development Bank was to provide financial support to the manufacturing sector of the Pakistani Economy. Over the years, the bank has focused on working with small to medium manufacturers. The bank is owned by the three tiers of the Pakistani Government.

19. JS Bank

JS (Jahangir Siddiqui) Bank was created in 2007 after two banks combined into one. This bank is mostly owned by the JS Group, which is the largest shareholder in the company. JS Bank has several branches all across the country. The bank has a few international branches within the Middle East.

20. Bank of Khyber

This bank is owned by Khyber Pakhtunkhwa Provincial Government. It has over 150 branches all across the country. The bank began operations in 1991, and it offers almost all types of banking services to its clients.

21. Bank AL Habib Limited

The Dawood Habib & Family owns Bank AL Habib Limited, which Hamid D. Habib founded in 1991. The bank’s current chairman is Abbas D. Habib, and it has its headquarters in Karachi Pakistan.

As of 2022, it serves a total of 412 cities in Pakistan and across the globe, and operates a total of 1,010 branches and sub-branches and 1,100 ATMS, in 6 countries, including Pakistan.

Over the recent years, Bank Al Habib has experienced consistent growth. For instance, in the first quarter of 2022, it reported a 16% growth in profit before tax of $39.84 Million, compared to the same period in 2021.

Moreover, in the first quarter of 2022, it had $2.57 billion in loans to financial institutions, investments, and & advances, $0.69 billion in cash and bank balances, and $0.75 billion in fixed and other types of assets.

In the same period, its liabilities were $1.79 billion in deposits and other accounts, $1.18 billion in bills payable and borrowing, and $0.63 billion in subordinated debt, deferred tax, and other liabilities.

The bank’s first quarter of 2022 net mark-up-based revenue was $78.03 million, while its non-mark-up-based income stood at $20.26 million.

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