Top 10 banks in Pakistan

Top 10 banks in Pakistan

Top 10 banks in Pakistan

There are Commercial Banks, Foreign Banks, Islamic Banks, Development Financial Institutions, and Microfinance Banks in the Banking Sector of Pakistan so check the top 10 banks in Pakistan. About 31 banks make up the industry. Five of them are in the public sector, 22 are private, and 4 are from outside the country.

The State Bank of Pakistan (SBP) is the country’s central bank. It was set up by the State Bank of Pakistan Act, which was passed in 1956. The central bank is in charge of controlling the flow of money and making sure that the country’s financial system is stable. The SBP is in charge of keeping an eye on Pakistan’s banks.

It is in charge of regulating the country’s money and credit system and helps make sure that the country’s money is stable and that its productive resources are used in a fair way. As of 2020, the Banking Sector had a total of $ 159.50 billion in assets. It does business through three subsidiaries that it owns completely.

1.Habib Bank Limited (HBL):

In terms of assets, Habib Bank Limited was Pakistan’s biggest bank in 1941. It has a large network of 1751 branches and 2007 ATMs that it uses to run its business. It offers services in the areas of Branch Banking, Corporate Banking, Retail Financing, Small and Medium-Sized Enterprises (SME), and Investment Banking. Its main office is in Karachi, which is the capital of Pakistan. The Bank has offices in many places, such as Europe, Australia, the Middle East, the United States, Asia, and Africa. The Karachi Stock Exchange is where the Bank’s shares can be bought and sold.

Habib Bank Limited - Top 10 banks in Pakistan

2.National Bank of Pakistan

National Bank of Pakistan was started in 1949, and it is the largest bank in Pakistan that is owned by the government. It has a global presence in 11 countries and representative offices in China and Canada. In Pakistan, it has a large branch network with more than 1509 branches. The Bank is in charge of public funds and works as the SBP’s agent. Its main office is in Karachi. It is a major player in the debt-equity market, investment banking, agriculture financing, retail financing, and treasury services. It offers banking services to both businesses and the government. The State Bank of Pakistan owns most of the bank. As of December 2017, the State Bank of Pakistan had 75.20 percent of the voting rights.

  1. Meezan Bank:

Meezan Bank is Pakistan’s first and largest Islamic bank. It started doing business in 2002 after the State Bank of Pakistan gave it the first Islamic Commercial Banking licence ever. It works on the basis of Islamic Shariah and is known for its ability to create new products, research on Islamic banking, and consulting services. It has more than 815 retail branches all over Pakistan, where it offers a wide range of Islamic banking products and services. Several local and international organisations have named the Bank the Best Islamic Bank in Pakistan, which is a big deal. As of December 2017, the Bank’s Capital Adequacy ratio is 12.89%, which is a good number. Its main office is in Meezan House, which is in Karachi, Pakistan.

meezan bank - Top 10 banks in Pakistan4. Bank Alfalah

Bank Alfalah is the fifth biggest private bank in Pakistan. It started doing business on November 1, 1997. It has more than 719 branches all over Pakistan and also has a presence in Afghanistan, Bangladesh, Bahrain, and the United Arab Emirates (UAE), where it has a representative office. The Bank is owned by the Abu Dhabi Group, which also runs it. It helps people, businesses, institutions, and governments with their finances by offering a wide range of products and services. With the help of the Abu Dhabi banking group and the strategic goals set by its board of management, the Bank has invested in cutting-edge technology so it can offer a wide range of products and services. The main office of the Bank is in Karachi, Pakistan.

Bank Alfalah - Top 10 banks in Pakistan

  1. MCB Bank

MCB Bank: One of the oldest and best banks in Pakistan is MCB Bank Limited. It began in 1947 and was taken over by the government in 1974 as part of a plan to improve the economy. It was then sold to private owners in 1991. For the past two years, the Bank has won the prestigious Euromoney Award for Best Investment Banks in Pakistan (2016 and 2017). In Pakistan, South Asia, the Middle East, and Eurasia, it offers commercial banking and related products and services. In 2021, the Bank will have about 4 million customers and total assets of around PKR 1.91 trillion. It will do business through a large branch network with more than 1400 locations. The main office of the Bank is in Lahore, Pakistan.

MCB Bank - Top 10 banks in Pakistan

  1. United Bank Limited

United Bank Limited: United Bank has been around since 1959 and is one of the oldest and largest private commercial banks in Pakistan. It has more than 1390 branches all over Pakistan, and it also has a presence in more than 19 countries outside of Pakistan. The Bank’s main office is in Karachi, Pakistan, and it does commercial banking and other related services. The Bank has a strong financial profile and has been making money consistently for a long time. It specialises in Retail Banking, Corporate Banking, Investment Banking, Treasury Services, and other areas. All three stock exchanges in Pakistan list the Bank’s shares, and the London Stock Exchange lists its Global depository receipts (GDR). The Bank has more than 10,000 employees and works hard to give its clients the best banking experience possible.

7United Bank Limited - Top 10 banks in Pakistan7. Faysal Bank

In 1994, the Faysal Bank was set up. In Pakistan, it offers a wide range of financial services. The bank has more than 3000 employees and about 350 branches in 100 different cities. Faysal Bank has started a number of loans and savings accounts for small businesses and customers. Trade finance includes loans and other services, such as loans to buy raw materials, stocks to buy machinery, and new machinery.

  1. Bank of Punjab

The main services that the bank offers are deposits in the local currency, deposits from clients in foreign currency, remittances and advances to business, trade, industry, and agriculture, credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, and wealth management. It has a company called First Punjab Modaraba that was started in 1992 and is owned by it. Bank of Punjab has a total of 6,092 employees, and its 2017 annual report shows that it made PKR 4.7 billion in net income and PKR 7.6 billion in sales.

Bank of Punjab - Top 10 banks in Pakistan9. Al Baraka Bank Pakistan

Al Baraka Bank Pakistan was made to help the country’s Islamic banking industry grow. This bank came about when several Islamic banks in Pakistan joined together. Al Baraka Bank was made by putting the other banks together. The banks were Emirates Global, Al Baraka Bahrain, and Al Baraka Pakistan. The name Al Baraka Bank Pakistan was kept after the two banks merged in 2010. In 2016, Al Baraka Bank took over a second bank.

Al Baraka Bank Pakistan - Top 10 banks in Pakistan10. Bank Islami Pakistan

Bank Islami Pakistan was the first bank to get a licence to work as an Islamic bank, even though Al Baraka Bank Pakistan is often thought of as the first bank in the country to offer Islamic banking. This bank has more than 300 locations in more than 100 cities. In 2015, the bank merged with KASB Bank, which gave it a bigger reach across the country and made it one of the biggest banks in Pakistan.

Bank Islami Pakistan - Top 10 banks in Pakistan

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