Bank Al Habib Limited ( ) is a Pakistani

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

based in

Karachi Karachi is the capital city of the Administrative units of Pakistan, province of Sindh, Pakistan. It is the List of cities in Pakistan by population, largest city in Pakistan and 12th List of largest cities, largest in the world, with a popul ...

. It is one of the largest banks in Pakistan with branches across the country. It also operates wholesale branches in

Bahrain Bahrain, officially the Kingdom of Bahrain, is an island country in West Asia. Situated on the Persian Gulf, it comprises a small archipelago of 50 natural islands and an additional 33 artificial islands, centered on Bahrain Island, which mak ...

and

Malaysia Malaysia is a country in Southeast Asia. Featuring the Tanjung Piai, southernmost point of continental Eurasia, it is a federation, federal constitutional monarchy consisting of States and federal territories of Malaysia, 13 states and thre ...

and offices in

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Turkey Turkey, officially the Republic of Türkiye, is a country mainly located in Anatolia in West Asia, with a relatively small part called East Thrace in Southeast Europe. It borders the Black Sea to the north; Georgia (country), Georgia, Armen ...

(

Istanbul Istanbul is the List of largest cities and towns in Turkey, largest city in Turkey, constituting the country's economic, cultural, and historical heart. With Demographics of Istanbul, a population over , it is home to 18% of the Demographics ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

(

Beijing Beijing, Chinese postal romanization, previously romanized as Peking, is the capital city of China. With more than 22 million residents, it is the world's List of national capitals by population, most populous national capital city as well as ...

), and

Kenya Kenya, officially the Republic of Kenya, is a country located in East Africa. With an estimated population of more than 52.4 million as of mid-2024, Kenya is the 27th-most-populous country in the world and the 7th most populous in Africa. ...

History

Habib Group The Habib Group is a Bangladeshi industrial conglomerate. Founded in Chittagong in 1947, it employs over 20,000 people and has interests in textiles, aviation, cement, steel, real estate, insurance and banking. It is the parent company of Regent ...

's involvement in banking services dates back to the 1930s. The original Habib Bank began modestly in

Bombay Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian States and union territories of India, state of Maharashtra. Mumbai is the financial centre, financial capital and the list of cities i ...

in 1941 when it commenced operations with a fixed capital of 25,000 rupees. Impressed by its initial performance,

Muhammad Ali Jinnah Muhammad Ali Jinnah (born Mahomedali Jinnahbhai; 25 December 187611 September 1948) was a barrister, politician, and the founder of Pakistan. Jinnah served as the leader of the All-India Muslim League from 1913 until the inception of Pa ...

asked the Habib Bank to move its operations to

after the independence of Pakistan. After the privatisation scheme was announced in 1991 by the Pakistani Government, Habib Group was the first to be granted permission to start a private bank, the Bank AL Habib Limited. Under the privatisation policy of the Government of Pakistan, the Dawood Habib Group was granted permission to set up a commercial bank. Bank AL Habib was incorporated as a Public Limited Company in October 1991 and started banking operations in 1992. (Late) Hamid D. Habib, grandson of the founder a Habib Group, was the first Chairman of Bank AL Habib Limited. He was a Director in Habib Bank Limited from 1954 and its chairman from 1971 until nationalisation. After the death of Hamid D. Habib in May 2000, Ali Raza D. Habib, who was Director on the Board, was appointed the Chairman of the Bank. Rashid D. Habib, who was the managing director of Habib Bank Limited from 1953 until its nationalisation, was appointed as the managing director and chief executive of Bank AL Habib Limited until he died in 1994. After his death, Abbas D. Habib who was the joint managing director and closely associated with the bank since its inception in 1991, was appointed as the managing director and Chief Executive of the Bank. On 1 November 2016, he was appointed as chairman. In 2005, Bank AL Habib began offering internet banking, with accounts and records visible online. Bank AL Habib has decided to purchase from TPL Properties, ''Centrepoint'', a high-rise building in

. In 2018, Bank AL Habib expanded its operations and opened a representative office in Kenya.

Services

The bank maintains correspondent relations with

American Express Bank American Express Company or Amex is an American bank holding company and multinational financial services corporation that specializes in payment cards. It is headquartered at 200 Vesey Street, also known as American Express Tower, in the Batte ...

, USA;

Banco di Roma Banco di Roma was an Italian bank based in Rome, established on 9 March 1880. In the early 20th century, it was one of Italy's four dominant universal banks, together with Banca Commerciale Italiana, Credito Italiano, and Società Bancaria Ita ...

, Italy;

Commerzbank The Commerzbank Aktiengesellschaft (shortly known as Commerzbank AG or Commerzbank ) is a European Financial institution, banking institution headquartered in Frankfurt am Main, Hesse, Germany. It offers services to private and entrepreneurial c ...

and

Dresdner Bank Dresdner Bank AG () was a German bank, founded in 1872 in Dresden, then headquartered in Berlin from 1884 to 1945 and in Frankfurt from 1963 onwards after a postwar hiatus. Long Germany's second-largest bank behind Deutsche Bank, it was eventually ...

, Germany; The Royal Bank of Canada, Canada; and

The Hongkong and Shanghai Banking Corporation The Hongkong and Shanghai Banking Corporation Limited (), commonly abbreviated as HSBC and formerly known as HongkongBank (; styled ''Wayfoong'' by the bank), is the Hong Kong–based Asia-Pacific subsidiary of the HSBC banking group, for whi ...

, Hong Kong.

Subsidaries

* AL Habib Capital Markets * AL Habib Exchange Company Pvt LTD

Executive leadership

*Abbas D. Habib,

Chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...

*Mansoor Ali Khan,

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

*Qumail R. Habib, Executive Director Former Chairmen and Chief Executives of Bank AL Habib Limited include: Hamid D. Habib, Chairman (till 2000), Rashid D. Habib, CEO & Managing Director (till 1994), Abbas D. Habib CEO & Managing Director (till 2016 due to becoming Chairman) and Ali Reza D. Habib, Chairman (till 2016).

Recognition

The bank was selected as one of the top 200 ''Best Under A Billion'' companies by

Forbes Asia ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The c ...

in their annual review of 2005. The Asian Banker "Strongest Bank Balance Sheet in Pakistan, 2013".

References

External links

Bank AL Habib LimitedThe Habib Group website
{{KSE 30 Banks of Pakistan Companies based in Karachi Companies listed on the Pakistan Stock Exchange Companies in the KSE 100 Index Pakistani companies established in 1991 1992 initial public offerings Bank of America legacy banks House of Habib