Habib Bank Limited (HBL) Pakistani is a multinational bank located in Habib Bank Plaza, Karachi, Pakistan. Aga Khan Fund for Economic Development is the owner of Habib Bank and it is and is the largest bank of Pakistan as per assets. Moreover, it is one of the highest profit rate banks of Pakistan in 2019.
HBL has touched the point of Rs. 2 trillion in deposits in its balance sheet. It makes Habib Bank Limited (HBL) the only bank in Pakistan to reach this milestone in 2019. Furthermore, in 2012, Habib Bank Limited (HBL) had around 1 trillion in deposits and as of June 2019, the bank owns Rs. 2.3 trillion as deposits.
Source: The news
The bank Founded in 1941, it became the first Pakistani commercial bank. Besides, in 1951 HBL inaugurated its first international branch in Colombo, Sri Lanka. In 1972 the bank shifted its offices to the Habib Bank Plaza, which in 1972 was the tallest building in South Asia. Plus, the Government of Pakistan nationalized the Habib Bank Limited (HBL) in 1974 and again privatized it in 2003.
As of 2019, HBL has more than 1700 branches in over 25 nations, extending across 4 continents. Furthermore, on 18 April 2016, Habib Bank Limited (HBL) obtained a license to operate a sub-branch in Ürümqi, Xinjiang, China. It is the first branch of the Pakistani bank in China.
Source: Daily Pakistan
In addition, in terms of assets, as per Forbes global, the bank ranks top company of Pakistan. Plus, HBL is one of the biggest Pakistani companies that is internationally recognized.
Earlier, National Bank of Pakistan traversed Rs. 2 trillion deposits by the end of 2018. Nevertheless, it failed to keep its deposits, which fell to Rs. 1.7 trillion in the initial months of 2019.
Banks like United Bank Limited (UBL) and Muslim Commercial Bank (MCB) stand respectively at Rs. 1.34 trillion and Rs. 1.06 trillion.
Habib Bank Limited (HBL) owns the highest number of valuable accounts in Pakistan. It is also one of the best banks with the best-fixed deposit rate. Moreover, people ask which is the best bank for opening an account? It is certainly HBL in Pakistan with the highest rate of eminent customers.
In national or domestic deposits, Habib Bank Limited (HBL) reserves an amount of Rs. 916 billion in its saving accounts. It keeps Rs. 870 billion in current accounts; and Rs. 424 billion in term deposits of several customers, including individuals, communities of individuals, business people, traders of small or medium business firms and influential corporations.
All-inclusive deposits of the banks aggregate domestic deposits of Rs. 2.2 trillion and external deposits of Rs. 92.7 billion.
In the external or foreign deposits, the bank reserves an amount of Rs. 78.9 billion in savings accounts; Habib Bank Limited (HBL) keeps Rs. 7.4 billion in current accounts; and it deposits Rs. 6.2 billion in saving means of term securities.
Additionally, the clients of HBL prefer to keep their deposits in saving accounts over current accounts. This is because people trust the HBL policies and the profit it gives to its customers.
However, in spite of the fact that the bank owns a huge amount of deposits, the profit of Habib Bank Limited (HBL) fell by 50 per cent in 2019. The bank is endeavoring to keep its profit high on war footings.
