Askari Bank Limited ( ) is a Pakistani
commercial
Commercial may refer to:
* (adjective for) commerce, a system of voluntary exchange of products and services
** (adjective for) trade, the trading of something of economic value such as goods, services, information or money
* a dose of advertising ...
and
retail bank
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ba ...
headquartered in
Islamabad
Islamabad (; , ; ) is the capital city of Pakistan. It is the country's tenth-most populous city with a population of over 1.1 million and is federally administered by the Pakistani government as part of the Islamabad Capital Territory. Bu ...
. It is a subsidiary of
Fauji Fertilizer Company, which is part of
Fauji Foundation
Fauji Foundation ( ; ), also known as Fauji Group, is a Pakistani conglomerate based in Rawalpindi. It is active in fertilizer, cement, food, power generation, gas exploration, LPG marketing and distribution, financial services, security ser ...
.
History
Askari Bank was founded in October 1991 as Askari Commercial Bank and a year later it was listed on the
Karachi Stock Exchange
The Pakistan Stock Exchange (PSX), founded as Karachi Stock Exchange (KSE), is a stock exchange based in Karachi, Pakistan. PSX was classified by MSCI as a Frontier markets, frontier market on 8 September 2021.
Pakistan Stock Exchange was fou ...
.
In November 2006, Askari Bank established a wholly-owned asset management firm named Askari Investment Management Limited.
In June 2013, Askari Bank was acquired by
Fauji Foundation
Fauji Foundation ( ; ), also known as Fauji Group, is a Pakistani conglomerate based in Rawalpindi. It is active in fertilizer, cement, food, power generation, gas exploration, LPG marketing and distribution, financial services, security ser ...
from
Army Welfare Trust
Army Welfare Trust (AWT), also known as Askari Group, is a Pakistani conglomerate based in Rawalpindi.
The Army Welfare Trust, along with Fauji Foundation, are run by ex-military personnel of the Pakistan Army. The companies provide employment ...
.
In January 2017, Askari Bank sold its subsidiary Askari Investment Management to Pak Oman Asset Management for .
In September 2020, Askari Bank acquired Askari Securities which is now a wholly-owned subsidiary.
Branches
Askari Bank has 600 branches and more than 500 ATMs across Pakistan and a wholesale bank branch 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 ...
.
See also
*
List of banks in Pakistan
The following list contains all the notable banks in Pakistan. State Bank of Pakistan is the Central Bank of Pakistan.
Systemically Important Banks
Domestically Systemically Important Banks
Source:
*
*
Scheduled Banks Public Sector Bank ...
References
External links
Askari Bank, official website
Fauji Foundation
1991 initial public offerings
Banks established in 1992
Pakistani companies established in 1991
Banks of Pakistan
Companies listed on the Pakistan Stock Exchange
Companies in the KSE 100 Index
Companies based in Islamabad
2013 mergers and acquisitions
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