Exploring the 10 Largest Banks in Pakistan in 2024

Pakistan, a vibrant and dynamic nation, has witnessed significant economic growth in recent years. A key factor contributing to this growth has been the robust banking sector, which plays a vital role in providing financial services to individuals and businesses. 

In this blog, we will delve into the largest banks in Pakistan, exploring their history, operations, and contributions to the country’s economy.

From established institutions with deep roots in Pakistan’s financial landscape to modern banks embracing cutting-edge technology, these banks have played a crucial role in shaping the nation’s economic development.

By understanding the largest banks in Pakistan, we can gain valuable insights into the country’s financial system and the factors driving its economic growth. So, let’s start!

List of the Largest Banks in Pakistan

The following is the list of the Largest Banks in Pakistan.

• National Bank of Pakistan
• Habib Bank Limited 
• United Bank Limited 
• MCB Bank
• Allied Bank
• Askari Bank
• Meezan Bank
• Bank Alfalah
• Faysal Bank
• Standard Chartered Bank

1. National Bank of Pakistan

The National Bank of Pakistan (NBP), founded in 1949, has been a cornerstone of Pakistan’s financial system since the country’s independence. With its primary goal of creating a robust banking structure in the newly formed nation, NBP has grown into one of the largest and most influential banks in Pakistan today.

NBP operates an extensive network of over 1,500 branches and more than 1,100 ATMs nationwide, providing easy access to a wide range of banking services. Its products cater to both individuals and businesses, offering services such as savings and current accounts, loans, credit cards, and investment solutions. NBP’s digital banking platform also enables customers to manage their accounts online, enhancing convenience and access.

The bank has made significant contributions to Pakistan’s economic growth by financing critical infrastructure projects and fostering industrial development. NBP has played a central role in trade facilitation, offering specialized services such as export financing and agricultural loans. Its financial assistance has been pivotal in key sectors like energy, agriculture, and housing.

As of recent reports, NBP’s total assets exceed $20 billion, further solidifying its status as a financial giant in the country. The bank’s specialized services include Islamic banking through NBP Aitemaad, catering to customers seeking Sharia-compliant financial products. Additionally, NBP has introduced a pension disbursement system that allows retirees to conveniently access their pensions.

NBP is also known for its active involvement in corporate social responsibility, funding initiatives in education, health, and disaster relief. Its enduring commitment to service excellence and national development has established NBP as a leader in the Pakistani banking industry, continuing its legacy of supporting the nation’s growth.

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2. Habib Bank Limited

Habib Bank Limited (HBL), established in 1941, is one of Pakistan’s oldest and most prominent financial institutions. Founded by Aga Muhammad Yahya, HBL was the first commercial bank to be set up in Pakistan and played a key role in developing the country’s banking sector.

Today, HBL boasts a vast domestic and international presence, with over 1,650 branches and more than 2,100 ATMs across Pakistan, making it highly accessible to customers. The bank also operates in several countries, including the United Kingdom, the United States, China, and various Middle Eastern nations, positioning HBL as a global player in the financial sector.

HBL offers a comprehensive range of financial products and services, including savings and current accounts, loans, credit cards, and investment options. It also provides specialized services like wealth management and Islamic banking through its HBL Islamic division, catering to customers seeking Sharia-compliant products. The bank has been a leader in digital innovation, introducing mobile banking, internet banking, and contactless payment solutions to enhance customer convenience.

In terms of financial strength, HBL’s assets exceed $25 billion, making it one of the largest banks in Pakistan. HBL also serves as the primary banker for major public and private sector entities, reinforcing its stature in the market.

HBL is deeply committed to corporate social responsibility (CSR), focusing on areas like education, healthcare, and community development. Through the HBL Foundation, the bank funds scholarships, health programs, and disaster relief efforts, making a significant impact on local communities.

3. United Bank Limited 

United Bank Limited (UBL), established in 1959, is one of Pakistan’s leading commercial banks, known for its vast contributions to the country’s financial sector. It originated from the merger of several smaller banks and has since grown into one of the largest and most influential financial institutions in Pakistan.

Today, UBL operates an extensive network of over 1,300 branches and more than 1,400 ATMs across Pakistan, ensuring widespread accessibility for its customers. The bank offers a wide range of financial products and services, including savings and current accounts, personal and business loans, credit cards, and investment options. UBL also provides digital banking solutions through its award-winning mobile banking app, UBL Digital, offering seamless banking services to customers anywhere and anytime.

With total assets exceeding $15 billion, UBL stands as one of the top-tier banks in Pakistan. The bank has played a key role in financing major infrastructure projects, fostering industrial growth, and supporting trade, contributing significantly to Pakistan’s economic development. UBL’s specialized services include Islamic banking through UBL Ameen, catering to those seeking Sharia-compliant financial products.

UBL’s international footprint spans multiple countries, including the United Kingdom, United States, UAE, Qatar, and Bahrain. This global presence allows UBL to offer cross-border banking services, facilitating international trade and remittance flows between Pakistan and other countries.

In addition to its commercial operations, UBL is actively involved in corporate social responsibility (CSR) initiatives, focusing on education, healthcare, and community development. The UBL Foundation supports various projects aimed at improving the welfare of underprivileged communities across Pakistan.

4. MCB Bank

MCB Bank Limited (MCB), established in 1947, is one of Pakistan’s leading commercial banks, renowned for its modern approach to banking and a strong commitment to customer satisfaction. With a rich history, MCB has grown to become one of the largest financial institutions in the country.

Today, MCB operates a vast network of over 1,400 branches and more than 1,350 ATMs across Pakistan, ensuring convenient access to its services nationwide. The bank offers a comprehensive range of financial products, including savings and current accounts, personal and business loans, credit cards, investment options, and wealth management services. MCB’s digital banking solutions, including online and mobile platforms, allow customers to conduct banking transactions easily and securely from anywhere, reflecting its dedication to innovation.

With total assets exceeding $10 billion, MCB remains a financial powerhouse in Pakistan. The bank has been instrumental in financing key infrastructure projects, supporting small and medium-sized enterprises (SMEs), and facilitating trade, playing a vital role in the country’s economic development.

MCB has a dedicated Islamic banking division, known as MCB Islamic, which offers Sharia-compliant products and services to cater to customers seeking Islamic financial solutions. Additionally, the bank’s specialized services include priority banking for high-net-worth individuals and tailored solutions for businesses.

Beyond its commercial operations, MCB is actively involved in corporate social responsibility (CSR) initiatives, contributing to education, healthcare, and community development. The bank has funded numerous projects, including scholarships, health programs, and disaster relief efforts, demonstrating its commitment to social welfare.

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5. Allied Bank Limited

Allied Bank Limited (ABL), established in 1942 as Australasia Bank and renamed in 1974, has grown to become one of Pakistan’s largest and most influential commercial banks. With a rich history and a reputation for innovation, ABL is a key player in the country’s financial sector.

ABL operates a vast network of over 1,350 branches and more than 1,500 ATMs across Pakistan, ensuring easy access to its wide range of banking products and services. The bank caters to both individuals and businesses, offering savings and current accounts, loans, credit cards, investment options, and wealth management services. ABL’s digital banking platform provides customers with convenient online and mobile banking solutions, allowing for a seamless banking experience.

With assets exceeding $12 billion, ABL is one of the top-tier banks in Pakistan. The bank has played a critical role in financing major infrastructure projects, supporting industrial development, and promoting trade. ABL has also introduced specialized services such as Islamic banking through Allied Islamic, which provides Sharia-compliant financial solutions to customers seeking ethical banking options.

ABL’s international presence includes operations in the United Kingdom, the United States, and the Middle East. This global reach allows the bank to facilitate cross-border transactions and trade between Pakistan and other countries, expanding its influence beyond national borders.

The bank is also committed to corporate social responsibility (CSR), actively contributing to education, healthcare, and community development. Through various initiatives, ABL has supported scholarships, medical services, and disaster relief programs.

6. Askari Bank

Askari Bank, established in 1991, is a prominent commercial bank in Pakistan and is owned by the Fauji Foundation, a welfare organization linked to the Pakistan Army. Over the years, Askari Bank has built a reputation for strong financial performance and an innovative approach to banking.

The bank operates an extensive network of over 500 branches and more than 900 ATMs across Pakistan, providing customers with convenient access to a wide range of financial services. Askari Bank offers savings and current accounts, loans, credit cards, and investment options, catering to both individuals and businesses. Its digital banking services, including online and mobile platforms, make banking accessible and easy for customers anywhere in the country.

With assets exceeding $7 billion, Askari Bank is recognized as one of Pakistan’s leading financial institutions. It has been instrumental in financing key infrastructure projects, promoting industrial growth, and facilitating trade. The bank’s specialized services include Askari Islamic Banking, which offers Sharia-compliant financial products to cater to customers seeking Islamic banking solutions.

A unique feature of Askari Bank is its strong association with the military through the Fauji Foundation. This connection has enabled the bank to offer tailored products and services specifically designed for military personnel and their families, earning a loyal customer base within the defense community.

In addition to its commercial operations, Askari Bank is deeply committed to corporate social responsibility (CSR). The bank supports various initiatives related to education, healthcare, and community development.

7. Meezan Bank

Meezan Bank, established in 2002, is Pakistan’s first and largest Islamic bank, pioneering the concept of Sharia-compliant banking in the country. It offers a comprehensive range of financial products and services that adhere to Islamic principles, making it a trusted name for customers seeking ethical and socially responsible banking solutions.

With over 950 branches and more than 1,000 ATMs across Pakistan, Meezan Bank provides widespread access to its services. The bank offers a variety of Islamic banking products, including savings and current accounts, financing options, investment products, and wealth management services. All of its offerings comply with Shariah law, ensuring that customers’ funds are used in ethical ways, free from interest (riba) and other prohibited activities under Islamic law.

Meezan Bank has played a critical role in promoting and expanding Islamic banking in Pakistan. It has been instrumental in educating the public about the benefits of Islamic finance, paving the way for other Islamic banks to enter the market. With total assets exceeding $7 billion, Meezan Bank has consistently shown strong financial performance and growth.

The bank also offers specialized services such as Meezan Premium Banking, providing personalized financial solutions for high-net-worth individuals. Meezan Bank’s commitment to innovation is evident through its digital banking platform, which allows customers to manage their accounts conveniently and securely.

8. Bank Alfalah

Bank Alfalah, established in 1997, is one of Pakistan’s leading commercial banks, renowned for its modern approach to banking and commitment to customer satisfaction. Over the years, the bank has built a strong reputation for offering innovative financial products and services tailored to meet the diverse needs of individuals and businesses.

With a vast network of over 800 branches and more than 875 ATMs across Pakistan, Bank Alfalah ensures easy access to its services nationwide. The bank offers a comprehensive range of financial products, including savings and current accounts, personal and business loans, credit cards, investment options, and wealth management services. Bank Alfalah also provides specialized solutions like Islamic banking through its Alfalah Islamic division, catering to customers seeking Sharia-compliant products.

Bank Alfalah has been a leader in driving technological advancements in Pakistan’s banking sector. The bank has made significant investments in digital banking, offering robust online and mobile banking platforms that provide customers with a seamless and convenient experience. Its mobile app and internet banking services allow customers to manage their finances, pay bills, and conduct transactions effortlessly, positioning Bank Alfalah as a frontrunner in digital innovation.

With assets exceeding $10 billion, Bank Alfalah has demonstrated strong financial performance, further solidifying its status as one of the largest banks in Pakistan. It has played a key role in financing major infrastructure projects, supporting SMEs, and facilitating trade, contributing significantly to the country’s economic development.

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9. Faysal Bank

Faysal Bank, established in 1994, is one of Pakistan’s leading commercial banks, known for its strong financial performance, innovation, and customer-centric approach. Over the years, Faysal Bank has built a solid reputation as a reliable banking institution offering a comprehensive suite of financial products and services.

With over 550 branches and more than 600 ATMs across Pakistan, Faysal Bank ensures widespread access to its services. The bank offers a wide range of products, including savings and current accounts, personal and business loans, credit cards, investment options, and wealth management services. Faysal Bank has also embraced digital banking, providing customers with efficient and secure online and mobile banking platforms that offer convenience and flexibility in managing their finances.

Faysal Bank is in the process of transitioning to a fully Islamic banking model, offering a dedicated Islamic banking division known as Faysal Islamic Banking. This division offers Sharia-compliant financial products, catering to customers seeking ethical and Islamic banking solutions.

With assets totaling over $7 billion, Faysal Bank has played a significant role in Pakistan’s economic development. The bank has been a key financier of infrastructure projects, promoted industrial growth, and facilitated trade, contributing to the country’s progress. It also provides specialized services for small and medium-sized enterprises (SMEs), helping to drive business growth in various sectors.

Faysal Bank’s global presence, with operations in the United Kingdom, the United States, and the Middle East, enables it to offer cross-border banking services, facilitating trade and financial transactions between Pakistan and other countries.

10. Standard Chartered Bank 

Standard Chartered Bank (SCB), a leading international banking group, has a rich history in Pakistan dating back to 1859. As one of the oldest and most prominent financial institutions in the country, SCB has consistently provided a wide array of banking services, earning a reputation for reliability and innovation.

SCB offers a comprehensive range of products, including savings and current accounts, loans, credit cards, and investment options. The bank’s services are designed to cater to the needs of both individuals and businesses, making it a trusted partner for financial solutions. SCB operates an extensive network of around 70 branches and over 150 ATMs across Pakistan, ensuring easy access to its services. It also offers robust online and mobile banking platforms, enabling customers to manage their finances conveniently.

With assets exceeding $13 billion in Pakistan, SCB has played a crucial role in financing major infrastructure projects, supporting industrial growth, and facilitating trade. One of the unique strengths of Standard Chartered is its global reach—it operates in over 60 countries, providing its clients in Pakistan with access to international banking services and enabling seamless cross-border transactions.

In addition to its core banking activities, SCB is actively involved in corporate social responsibility (CSR). The bank has launched various initiatives focusing on education, healthcare, and community development, including its flagship program, “Seeing is Believing,” which helps tackle avoidable blindness. SCB’s commitment to social welfare has earned it widespread respect in Pakistan.

Here is a table summarizing the key details for each of the top 10 banks in Pakistan:

Bank	Established	Branches	ATMs	Total Assets
Habib Bank Limited (HBL)	1941	1,650+	2,100+	$25 billion
National Bank of Pakistan (NBP)	1949	1,500+	1,100+	$20 billion
Standard Chartered Bank (SCB)	1859	70	150+	$13 billion
Allied Bank Limited (ABL)	1942	1,350+	1,500+	$12 billion
United Bank Limited (UBL)	1959	1,300+	1,400+	$15 billion
MCB Bank Limited (MCB)	1947	1,400+	1,350+	$10 billion
Bank Alfalah	1997	800+	875+	$10 billion
Meezan Bank	2002	950+	1,000+	$7 billion
Faysal Bank	1994	550+	600+	$7 billion
Askari Bank	1991	500+	900+	$7 billion

Conclusion

In conclusion, these banks have played a pivotal role in shaping the nation’s economic landscape. These institutions have provided essential financial services to individuals and businesses, supported economic growth, and contributed to the overall development of the country.

As Pakistan continues to evolve and grow, the banking sector will undoubtedly play an even more significant role. The largest banks in Pakistan are well-positioned to meet the challenges and opportunities that lie ahead, ensuring a prosperous and financially secure future for the nation.

FAQs

Which Pakistani Bank Is International?

Many Pakistani banks have an international presence. Here are a few examples:

• National Bank of Pakistan (NBP): NBP operates in several countries, including the UK, USA, UAE, and Malaysia.
• Habib Bank Limited (HBL): HBL has a strong international presence, with operations in the UK, USA, Middle East, and Africa.
• United Bank Limited (UBL): UBL operates in the UK, USA, Middle East, and Africa.
• Standard Chartered Bank: While it’s a global bank, Standard Chartered Bank has a significant presence in Pakistan and offers various financial services.

Which Is the Top No. 1 Bank in the World?

JPMorgan Chase & Co. (stylized as JPMorgan Chase) is an American multinational finance company headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States and the world’s largest bank by market capitalization as of 2023.

What Is the Largest Bank in Asia?

The largest bank in Asia is the Industrial and Commercial Bank of China (ICBC). It’s also the largest bank in the world in terms of total assets. ICBC is a Chinese state-owned commercial bank headquartered in Beijing.

Who Owns the World Bank?

The World Bank is not owned by any single country. It is an international financial institution established in 1944. Its ownership is shared by its member countries. Each member country has voting rights based on the size of its economy. The World Bank is governed by a Board of Governors, which is composed of one representative from each member country.

Is Pakistan Part of the World Bank?

Yes, Pakistan is a member of the World Bank. It joined the institution in 1947, shortly after gaining independence. As a member, Pakistan has access to the World Bank’s various financial and technical assistance programs. These programs aim to support economic development, poverty reduction, and sustainable growth in developing countries, including Pakistan.