Euromoney has awarded the Habib Bank Limited (HBL) the accolade of Pakistan’s Best Bank 2021 after it recently opened a branch in China.
Earlier this year, the Bank also won the Asiamoney award for Best Domestic Bank in Pakistan 2021. Euromoney and Asiamoney are global English-language publications focused on business and finance.
These two awards are the most prestigious awards in the banking industry globally, an HBL statement said.
“These awards are a recognition of the HBL’s leadership performance and innovative approach in its Consumer banking, Commercial banking and Development Finance business streams, leveraging its digital banking platforms, leading the way in financial inclusion, and the launch of the Beijing branch and capturing opportunities associated with the CPEC (China-Pakistan Economic Corridor) initiative,” HBL said.
It added: “These are undoubtedly very well-deserved accolades as they come against a backdrop of unprecedented challenging times globally, including Pakistan. “
The Euromoney citation for HBL acknowledges that “Habib Bank (HBL) is going from strength to strength under Muhammad Aurangzeb – the President and the Chief Executive officer (CEO). Remarkably, in a year when most banks around the world were trying to stem the losses caused by Covid-19, HBL doubled its after-tax profits to Pakistani Rs 30.9 billion ($193.4 billion).”
The citation makes specific reference to HBL’s business strength in e-payments, cards, auto and trade businesses. Remarking on HBL’s rural banking/development finance initiative, the citation reads “agriculture is a mainstay of HBL’s innovative efforts; the bank aims not only to fund farmers but deploys full-time agronomists to help with improving crop yields”.
Source: China Economic Net