HBL Pakistan Wiki
We are talking about the multinational bank of Pakistan which is also considered as the largest bank by assets. It deals with all financial services in banking and capital markets since its origin in 1941. The bank is headquartered in Habib Bank Plaza, Karachi, Pakistan. As per the recent report of financial year 2016-2017 the bank has generated the revenue of US$1.1 billion having the total assets of US$24 billion with its 15,000+ employees. It even got ranked by the Forbes Global 2000 among the top Pakistani company in 2018.
When was it started?
The bank came into existence on 25th August, 1941 with the efforts of Mohammed Ali Habib and Dawood Habib during the time when Mohammed Ali Jinnah was demanding of creating a separate homeland for the Muslims. The head office of the bank was made in Bombay with fixed capital of 25,000 rupees. The bank initially played a greater role in supporting the All-India Muslim League financially. After partition, the bank was moved by the Habib family in Karachi, Pakistan where they held the control of bank
until it was nationalized on 1st January, 1974. Later it came under the control of Aga Khan Fund for Economic Development (AKFED) getting the majority of ownership of the bank in 2002 and getting privatized in 2004 with 51% of bank’s shareholding acquired by AKFED whereas 42.5% of the shareholding is still retained by the Government of Pakistan, whilst 7.5% is owned by general public i.e. over 170,000 shareholders following the public listing that took place in July 2007.
Now the bank has grown its branch network with over 1,750 across the country and is exceeding customer base with five million relationships. They have also shown the presence internationally in 25 countries including UK, UAE, South and Central Asia, Africa and the Far East.
What they offer in services?
The bank offers services and products in retail and consumer banking and has also been active in corporate and investment banking. For individuals, they offer current account, saving account and term deposit accounts. Their account types include basic banking account, freedom account, value account, MoneyClub, Assan account, Daily Munafa account, Rutba, Pensioner account, Advantage account and Advantage Plus with a range of credit cards and debit cards. They also have some other products including loans, insurance and investment services.