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.
- Commercial banks
- Exchange banks
- Industrial banks
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
- Agency Services, Corporate Finance,
- Trading and Sales, Retail Banking,
- Corporate and Commercial Banking, and Payment and Settlement.
6. United Bank Limited
7. Askari Bank
- Corporate Finance, Trading, and Sales, Retail Banking, Commercial Banking, Payment and Settlement,
- Agency Services, Retail Brokerage, and Asset Management.
8. MCB Bank
9. Faysal Bank
- Corporate Finance, Trading and Sales, Retail Banking, and Corporate and Commercial Banking.
Source: Corporate Finance Institute