Banks play an important role in the development of service, market and economy for any country. If a country has more banks then there will more chances for that country to develop. The development of banking sector in Pakistan is increasing vastly. Now the formal banks are also showing their interest in Pakistan. There are many local and international banks that are operating in Pakistan now with different offers and facilities. Today, I am going to share the full list of top banks in Pakistan.
Full List of Top Banks in Pakistan:
Banks in Pakistan are categories in several different types: public sector banks, specialized banks, Islamic banks, foreign banks and micro-finance banks. Below is the list of top banks in Pakistan.
Public Sector Banks in Pakistan:
- National Bank of Pakistan.
- The Bank of Punjab.
- Bank of Khyber.
- Sindh Bank.
- Bank of Azad Jammu & Kashmir.
- First Women Bank.
- Withra Bank.
Specialized Banks in Pakistan:
- Industrial Development Bank.
- Askari Bank.
- Allied Bank Limited.
- MCB Bank Limited.
- Bank Alfalah.
- Bank Al Habib.
- Faysal Bank.
- HBL Bank.
- Habib Metropolitan Bank.
- JS Bank.
- NIB Bank.
- Soneri Bank.
- Summit Bank.
- United Bank Limited.
- SME Bank.
- The Punjab Provincial Cooperative Bank.
- Zarai Taraqiati Bank Limited.
- Samba Bank.
Islamic Banks in Pakistan:
- Mezaan Bank Limited.
- Dubai Islamic Bank.
- Al-Baraka Bank *formerly Burj Bank Limited.
- Bank Alfalah.
- BankIslami Pakistan Limited.
- Standard Chartered Bank.
- Askari Bank Ltd.
- MCB Islamic Baking.
- UBL Islamic Banking.
- HBL Islamic Banking.
- National Bank of Pakistan.
- Bank Al-Habib Islamic Banking.
- Emirates Global Islamic Bank Limited.
Foreign Banks in Pakistan:
- Standard Chartered Bank.
- Deutsche Bank AG.
- Industrial and Commercial Bank of China Limited.
Microfinance Banks in Pakistan:
- Khushhali Bank Limited.
- Apna Micro-finance Bank Ltd.
- FINCAMicro-financeBank Limited.
- Mobilink Micro-finance Bank Limited.
- Pak-Oman Micro-finance Bank Ltd.
- Telenor Micro-finance Bank Limited(TMFB).
- The First Micro-finance Bank Ltd(FMFB).
- Sindh Micro-Finance Bank Ltd (SMFB).
- U Micro-finance Bank Limited.
- Advans Pakistan Micro-finance Bank Limited.
1. National Bank of Pakistan:
It is the Pakistan’s premier bank and its headquarter is in Pakistan. With the high standard of achievements, National Bank of Pakistan has over 1400 branches in the different cities of Pakistan and 20+ branches in other countries. They provide the both public sector and commercial banking services. It is also a partner of Pakistan’s government and its assets are over 17.2 billion US dollars.
2. The Bank of Punjab:
Operating from 1989, Bank of Punjab has 344 branches in Pakistan. They provide different banking services such as trade industry, loaning, local currency deposit, foreign currency deposit and other basic services. It is working as a public sector bank from 1994. Bank of Punjab has AA rating from PACRA and it is the 7th largest public sector and a commerical bank of Pakistan.
3. Bank of Khyber:
Bank of Khyber is a provincial bank and owned by the government of KPK. They have a network of 140+ branches locally and in 1991, It was set up as a state-owned bank. Bank of Khyber provides several services such as Islamic banking, microfinance loaning services and conventional banking. The profit if this bank in 2016 was 2.135 million PKR.
4. Industrial Development Bank:
One of the oldest development financing banks in Pakistan and it was created for the improvement of the manufacturing sector. 57% of shares in this bank in owned by the federal government, 36% by state bank of Pakistan and 7% by the provincial government. The bank is playing a significant role in the development of small and medium enterprises. Recently, Industrial development bank faced the loss of Rs 27 billion due to the load defaults.
5. Askari Bank:
Also knows as Askari Commerical Bank, they have over 200 branches in all over the Pakistan. This commercial and retail bank was founded in 1991 as a public limited company and acquired by Fauji Group later. Askari bank also started few units in other countries such as Bahrain. They deal in consuming banking, Islamic banking, branch banking, agriculture banking, corporate banking and investment banking.
6. Allied Bank Limited:
Allied Bank is one of the largest commercial banks in Pakistan with over 1150 branches and ATMs. It was established in 1942 by the name of Australasia Bank and later the changed it to Allied Bank Limited in 1974. The deal in personal banking, Islamic banking and business banking. They also offer online banking, safe deposit lockers, Allied phone banking and much more.
7. MCB Bank Limited:
The largest private sector bank in Pakistan is MCB(Muslim Commerical Bank) with the deposit base of 280 billion PKR and total assist of 300 billion PKR. The ATM facility of MCB is synonymous with 24/7 cash withdraw and online transactions. They have over 4 million customers and 1000 branches around the country.
8. Bank Alfalah:
Bank Alfalah is operating in 70 cities of Pakistan with 650 branches. They also have 11 international branches in other countries including Afghanistan, Bangladesh and Bahrain. The revenue of Bank Alfalah was Rs 55 billion in 2014. They provide branch banking, consumer banking, electronic banking, corporate banking and investment services.
9. Bank Al Habib:
It is a private bank owned by Dawood Habib family group of companies with the principal office in Karachi. The bank has 550 branches in entire Pakistan and international units in Bahrain, Turkey and EPZ. Bank Al Habib is in partnership with American Express Bank, The Royal Bank of Canada and many other international banks. They provide all the basic and main banking services.
10. Faysal Bank:
Faysal Bank is a public limited company which deals in corporate, commercial, Islamic and retail banking. They have over 270 branches in over 75 different cities of Pakistan. Faysal Bank has the business assist of over 300 billion Pakistani rupees. They also got AA rating from the rating agency PACRA.
11. HBL Pakistan:
With more than 1500 branches in Pakistan and 55 in other countries, HBL Pakistan has the shares of 45% in the domestic market. In 2004, the management control of HDL Pakistan was handed over to AKFED by the government of Pakistan. HBL Pakistan is the highest ranked Pakistani company in Forbes Global. They provide all the banking services including loans, consumer banking, credit cards and savings. HBL is also providing the payment gateways and a merchant account for e-commerce.
12. Habib Metropolitan Bank:
Habib Metropolitan Bank was opened in 1992 in Pakistan as a public sector and commercial bank. Late in the 1990s, this bank was no 1 in providing trade finance services in Pakistan. Habib Metropolitan Bank works in many popular cities of Pakistan with over 150 branches. This bank offers trade finance services, retail banking, e-banking services, consumer banking and Islamic banking services.
13. JS Bank:
It is a private bank having 307 branches in 152 different cities of Pakistan. The total assets of JS Bank were 218 billion PKR in 2015. JS Bank operates as a commercial bank. They provide five different banking services including corporate banking, retail banking, wealth management, treasury and investment banking.
14. NIB Bank:
NIB Bank was launched in 2003 and it has the assets of 103 billion PKR. The bank has over 180 branches in 52 different cities of Pakistan. Their main office is based in Karachi. They deal in retail banking, commercial banking, investment banking, corporate banking and treasury services. NIB Bank was formed after the merger of NDLC and IFIC Bank.
15. Soneri Bank:
With more than 260 branches in all the major cities of Pakistan, Soneri Bank is operating from the year 1992. It is also operating the commercial banking sector and their main branch is based in Karachi. Soneri Bank got the AA and A+ rating from PACRA. In Soneri Bank, customers can reach their accounts from any of their local branch for free. They provide all the main banking services.
16. Summit Bank:
Summit Bank is a banking corporation with the main office in Karachi. This Bank is operating in all the major cities of Pakistan with over 150 branches. They are also partner with ARY Sahulat Bazar to accept payments. They provide Islamic banking services, corporate banking services, Loans, credit cards and consumer banking services.
17. United Bank Limited:
UBL is one of the largest Pakistani’s commercial banks with over 1300 branches countrywide and 15 international branches in USA, Qatar, UAE and Bahrain. The bank was nationalized in 1971 by the government of Pakistan. The total assets of United Bank Pakistan are more than 550 billion PKR. UBL own the 55 percent of joint-venture. The provide commercial banking, corporate banking and all the other main banking services.
18. Meezan Bank Limited:
Meezan Bank is the first commercial Islamic bank in Pakistan which was founded in 2002. The market shares of Meezan Bank Limited in entire Islamic banking industry of the country is 35%. Currently, the bank has over 500 branches in 140 different cities of Pakistan. Meezan Bank provides a wide range of Islamic compliant banking services. The total assets of this bank are more than 560 billion Pakistani rupees.
19. Dubai Islamic Bank:
It is a Dubai-based Islamic bank, established in 1975 and operating in Pakistan too. Dubai Islamic Bank is an only bank that follows principals of Islam in every matter. DIB(Dubai Islamic Bank) Pakistan Limited is operating in the 62 main cities of Pakistan with over 200 branches. They offer all the Islamic banking services including insurance.
20. Standard Chartered Bank:
SCB is a UK based oldest bank in Pakistan. It is operating from 1863 and the main office is located in Karachi. Standard Chartered bank has over 170 branches in all the big cities of Pakistan. In bank 2005, SCB merged with Union Bank of and become the 6th largest bank in Pakistan. The present all the basic banking services including loans, consumer banking and credit cards etc.
The banking sector in Pakistan is improving vastly and continuously. Above is the list of top banks in Pakistan. There are total 54 banks operating here right now but the above 20 are top banks in Pakistan.