If you are looking for a suitable bank to store your money in, the wide array of available choices can be overwhelming. While all banks operate on some basic similar fundamentals. There are other factors that should be considered to make sure that you find the one best suited to your needs.
Over the years Pakistan’s banking sector has grown at a rapid rate. Long established banks, as well as new ones, have prospered. In this article, we are going to discuss the top performing banks in the country.
Top Ten Banks in Pakistan 2018:
We are here to help you choose the right bank according to your requirements. Here we have compiled a list of top ten Banks that are available in Pakistan. The list was compiled by taking in to account the all-around performance of the banks. So, in no particular order here are the top ten banks in Pakistan for the year 2018.
Bank Alfalah has been one of the top performing banks in Pakistan for quite some time. It is one of the largest banks operating in Pakistan. With over 600 branches all over the country. Last year, Bank Alfalah also received the “Best Bank Award” for 2017. This was due to the bank’s effective management of resources. And Alfalah’s significant contribution to national development. Moreover, Alfalah has good customer care service. This has consolidated the bank’s top position.
Standard Chartered Bank:
Standard Chartered Bank is one of the oldest established banks in Pakistan. SCB opened in Karachi in the year 1863. Since then the bank has gained popularity. And has successfully become one of the largest banks in the country. SCB was among the first to receive an Islamic Banking Licence. Furthermore, SCB was also the first bank to open an Islamic Banking Branch in Pakistan. The bank provides Islamic Banking services under the title of Standard Chartered Saadiq brand.
Habib Bank Limited:
Habib Bank Limited is one of the top renowned banks in Pakistan. HBL has a strong customer base that exceeds five million. Moreover, in Pakistan HBL has around 40% share of the banking sector. It is one of the largest in Pakistan with over 1500 branches and 1400 ATMs. Additionally, Habib Bank Limited won the “Corporate Excellence Award in the Financial Category”. It was awarded by The Management Association of Pakistan
United Bank Limited:
United Bank Limited was founded in 1959. Since then UBL cultivated its portfolio to cater an extensive range of individual and corporate requirements. Furthermore, UBL won Best Bank in Pakistan award in 2016. The bank gained its popularity due to its catering of small businesses. Additionally, UBL has over 1,385 branches in Pakistan. As well as 19 branches of the bank overseas.
Meezan Bank is one of the leading Islamic banks of Pakistan. It counts among one of the fastest growing banks with over 550 branches all over the country. The bank provides a wide array of Shariah-compliant banking products and services to its customers, both retail and business.
Allied Bank Limited:
Allied Bank is one of the largest banks in the country with over 1150 branches nationwide. However, it was established in 1942 with the name Australasia Bank. The bank was renamed to Allied Bank in 1974. It is one of the first Muslims banks founded before the independence of Pakistan. Allied bank began its investment banking business 12 years ago. Since then it has developed at a rapid rate. And has become well-known as one of the best in financing and capital raising.
Askari Bank Limited:
Askari Bank Limited is a reputed commercial and retail bank. Founded in 1991 the bank caters to a wide range of services in the banking sector. Askari Bank was awarded the “Best Consumer Internet Bank” award by Global Finance magazine for the year 2002 and 2003.
MCB Bank Limited:
MCB Bank formerly known as Muslim Commercial Bank was founded in 1947. It was the first bank to be privatized in 1991. MCB has established an Islamic Banking unit to offer Shariah-compliant products and services. Additionally, the bank has over 1000 branches all over the country. MCB is one of the largest banks in Pakistan.
National Bank of Pakistan:
National Bank of Pakistan is a state-owned commercial bank. It has numerous branches all over the country. In addition to that NBP also has 21 international branches. NBP has a wide range of banking services ranging from Consumer Banking, Corporate Banking, Investment Banking, Credit Cards, and more. Furthermore, the National Bank also won the “Pakistan Domestic Project Finance Bank of the Year-2017” award.
Faysal Bank Limited:
Faysal Bank Limited is one of the top performing banks in Pakistan. It has over 260 branches country-wide. Faysal Bank offers a large variety of services in the banking sector. Moreover, it was also the first bank to launch a virtual card in Pakistan.
Disclaimer: The author of this article is not a financial or investment advisor. This article is solely for educational purposes. It should not be taken as professional advice.