Banking is a commercial service of great importance for both individuals and companies. Banking services help its customers to safely store their assets and money and obtain loans. This removes all doubts about the importance of banks in Pakistan. So, out of 31 banks in Pakistan banking industry, here are 6 best banks in Pakistan 2022 that are helping the Pakistani people in their financial services.
Pakistan’s banking sector has 5 public sector banks, 22 private banks and 4 foreign banks. they include commercial banks, finance banks, Islamic banks, foreign banks, development finance institutions, and microfinance banks. On top of all this is the State Bank of Pakistan (SBP) which sets all the regulations for banking services in Pakistan.
List of Best Banks in Pakistan 2022
These are the best banks in Pakistan 2022 that you can trust for your banking needs.
- Habib Bank Limited – HBL
- National Bank of Pakistan – NBP
- United Bank Limited – UBL
- Alfalah Bank
- meezan bench
- Muslim Commercial Bank Limited – MCB
Banco Habib Limited – HBL
Habib Bank Limited is the first private and commercial bank in Pakistan after partition. Before partition, Muhammad Aurangzeb founded HBL in 1941 in Mumbai at the request of Quaid-e-Azam Muhammad Ali Jinnah. He wanted a bank for Muslims to keep their assets, which is why HBL was born. It opened its first international branch in 1951 in Colombo, Sri Lanka.
It functioned as a private company for many years until it was nationalized in 1974 due to the fact that it owned a significant number of national shares. However, in 2004, the Government retained 41% of its shares and HBL became the largest private bank in Pakistan. It created its value due to the greater amount of incoming foreign remittances and by granting loans to small industries.
HBL has a headquarters in Karachi at Habib Bank Plaza at I. I Chundrigar Road. There are 2,007 ATMs and 1,751 branches worldwide. The stock exchange also sells shares on the Pakistan Stock Exchange.
HBL offers online banking, bank branches, retail financing, investment banking, financial planning and corporate banking services. For all these services, HBL has maintained its position among the best banks in Pakistan in 2022 by providing financial comfort to customers.
HBL also won the award for the best bank in PBA 2021.
National Bank of Pakistan – NBP
NBP is a bank for everyone that was founded in 1949 by Syed Ahmad Iqbal Ashraf. The headquarters is located in Karachi. It works both as a private and public bank. Nearly 75.20% of voting rights reside with the government based on shareholder patterns.
Although it is an independent organization, it is the largest state-owned bank in Pakistan. It is also the assistance of the State Bank of Pakistan because most of the shares are bought by SBP.
NBP has the highest debt equity market in Pakistan to provide easy loans to the public. Help the republic meet its needs easily. It provides consumer banking, agricultural financing, retail financing, treasury services, corporate banking, offering loans and savings services. NBP also offers commercial and public sector banking services.
NBP has exclusively started microfinance banking for small industries, agriculture and small entrepreneurs. With a network of 1,509 branches in Pakistan and 11 other countries, and more than 1,000 ATMs, the National Bank of Pakistan is a prominent bank in Pakistan.
United Bank Limited – UBL
UBL has won the award for the best bank in corporate finance and capital market development at the Pakistan Bank Awards in 2017. This is due to the priority it places on clients. UBL’s motto is ‘Where you come first’ is true to its promise because it puts its clients first in all financial needs.
Serve the best Pakistanis abroad in remittances and store your savings easily. Listen to the needs of the client and take care of their financial health by providing easy loans.
Bank Alfalah is a growing international bank with origins in the United Arab Emirates. Initially, Habib Credit and Exchange Bank started in 1997. It is a Pakistani retail bank under an Emirati company.
Along with Pakistan, it has its operations in the United Arab Emirates, Afghanistan, Bahrain and Bangladesh. As it is owned by a United Arab Emirates company, Bank Lafalah’s representative office is located in Abu DhabiYo. In Pakistan, the headquarters is in Karachi with more than 700 branches in 200 cities in Pakistan.
This bank provides financial services to customers, companies, institutions and the government. Services include retail finance, securities brokerage, agricultural finance, consumer banking and credit, SMEs, Islamic and asset finance solutions.
Bank Alfalah recently joined WhatsApp for the convenience of customers. Customers can contact banking agents easily through the Contact Us option on the website. The website takes us directly to WhatsApp through which customers can get answers to their queries. It offers flexible customer service hours through Banco Alfalah’s Digital Banking Portal.
Meezan Bank obtained its first Islamic license from the State Bank Of Pakistan and started operations as the first Islamic bank in Pakistan in 2002. The founder of Meezan Bank is Irfan Siddiqui. It is the first Islamic bank in Pakistan that started providing banking services according to the principles of Islam.
In 2002, it offered a Riba-free car finance scheme and an Easy Home scheme in 2003. In 2007, it offered the Istisna service to provide working capital to businesses. Along with these, it also provides a wide range of Islamic banking services to the people of Pakistan.
There are nearly 800 Meezan bank branches in 240 cities with 24/7 services. Other services include 660 ATMs, online banking, Visa cards, debit cards, mobile applications and SMS banking services.
Among the best banks in Pakistan 2022, Meezan bank is one of those that provide banking services according to the principles of Islamic law.
Muslim Commercial Bank Limited – MCB
MCB bank was founded in 1947 and nationalized in 1974 under Pakistan’s economic reform movement. It was privatized again in 1991. MCB severed ties with the Muslim Commercial Bank name to just MCB to create its presence in the international market. As a result, MCB has more than 1,551 branches worldwide with more than 1,350 ATMs.
MCB won the prestigious Euromoney award for two consecutive years in 2016 and 2017.
These were the Top 6 Banks in Pakistan 2022 that provide the best banking services to customers, businesses and institutions to create livelihood among the population. They are also contributing to the economic development of Pakistan.