The State Bank of Pakistan (SBP) is the country’s central bank. It was incorporated under the State Bank of Pakistan Act, 1956. The central bank handles regulating liquidity. It ensures the soundness of the country’s financial system. Banks in Pakistan fall under the supervision of the SBP.
The different types of banks in Pakistan include:
- Commercial banks
- Exchange banks
- Industrial banks
Moody rates Pakistan’s banking system as stable. Due to rapid economic growth and stable funding from high liquidity levels and customer deposits. But, domestic banks face challenges from their large low-rated Pakistan government bond holdings. As well as high asset risks and modest capital levels, according to the rating agency.
Banks in Pakistan
The different types of banks in Pakistan include
1. National Bank of Pakistan
- Founded in 1949, the National Bank of Pakistan (NBP) is an independent organization. Its headquarter is in Karachi, Pakistan. It has operations focused on consumer banking, corporate banking, and investment banking. It offers loans and savings services.
- As of March 2017, the bank operates through 1,450 branches in Pakistan. In 2017, the firm had assets of $17 billion USD and a net profit of $160 million USD.
2. Bank Alfalah
- Headquartered in Karachi, Bank Alfalah is a private bank owned by Abu Dhabi Group. Founded in 1992, the bank commenced banking operations in 1997. It provides banking and financial services to consumers, corporations, and institutions. And governments in Pakistan, the Asia Pacific region,
and the Middle East. It operates through Retail Banking, Corporate Banking, Treasury, Consumer Banking, and Islamic Banking. International Operations, Retail Brokerage, Asset Management, and Others segments.
- As of December 31, 2016, the bank operated 475 conventional banking branches. Including 18 sub-branches, 10 overseas branches, and 153 Islamic banking branches. And an offshore banking unit.
- As of 2016, the bank’s total assets amounted to US$8.29 billion and net profit reached US$71.42 million.
3. Standard Chartered
- Founded in 2006, Standard Chartered. In Pakistan, it operates as a wholly-owned subsidiary of UK-based Standard Chartered Bank. The bank comprises Corporate and Institutional Banking, Commercial Banking. Also, Retail Banking, and Central & Other Items segments.
- As of December 31, 2016, the bank managed a network of 101 branches in Pakistan. In the same period, it reported a total asset of US$4.2 billion and a net profit of US$87 million.
4. Habib Bank
- Based out of Karachi, Habib Bank was established in 1941. It operates through Branch Banking, Corporate Banking, Treasury, and International Banking segments. With around 17,000 employees, it manages a network of 1,677 branches. Which includes 45 Islamic banking branches in Pakistan. As well as 54 branches in other countries.
- As of 2016, the bank’s total assets were US$24 billion and its net loss was US$129 million.
5. Meezan Bank
Meezan Bank was established in 1997. It is one of Pakistan’s commercial banks that provides Islamic services. The company works via the following segments:
- Agency Services, Corporate Finance,
- Trading and Sales, Retail Banking,
- Corporate and Commercial Banking, and Payment and Settlement.
The Karachi City-based bank has about 10,200 workers. It is in charge of 815 branches spread across 146 Pakistani cities.
Profit: PKR 22.40 billion (2020)
PKR 1.55 trillion in total assets (3/2021)
6. United Bank Limited
United Bank Limited, one of Pakistan’s largest owned banks, was established in 1959. About 12,000 people work for it, and its headquarters are in Karachi City.
With 14 branches abroad, the bank has a network of about 1,370 branches throughout Pakistan. It includes 100 Islamic banking sites and two in the Karachi Export Processing Zone.
Net income was 20.94 billion PKR (2020)
Total assets: PKR 2.33 trillion (3/2021)
7. Askari Bank
Askari Bank, with its main office in Rawalpindi. It caters to individuals and businesses throughout Pakistan and the Middle East.
The company works via the following segments:
- Corporate Finance, Trading, and Sales, Retail Banking, Commercial Banking, Payment and Settlement,
- Agency Services, Retail Brokerage, and Asset Management.
The bank was founded in 1991 and today runs 537 branches while employing 7,013 people.
10.85 billion PKR in net income (2020)
1 trillion Pakistani Rupees total worth (3/2021)
8. MCB Bank
MCB Bank provides commercial banking services along with allied goods and goods. It operated in Pakistan, South Asia, the Middle East, and Eurasia. It’s situated in Lahore City and has about 14,000 workers. It runs 11 branches abroad also to 1,400 ATMs and over 1,400 branches in Pakistan.
Profit after tax: PKR 29.80 billion (2020)
PKR 1.91 trillion in total assets (3/2021)
9. Faysal Bank
In Pakistan, Faysal Bank, which was founded in 1994, provides a range of financial services.
The four divisions through which the bank does business are:
- Corporate Finance, Trading and Sales, Retail Banking, and Corporate and Commercial Banking.
The bank has its main office in Karachi and manages 414 locations in over 100 cities with a workforce of about 6,800.
6.68 billion Pakistani rupees in revenue (2020)
Total assets: PKR 710.06 billion (2020)
Source: Corporate Finance Institute
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