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Bank AL Habib Limited

Headquarters of Bank AL Habib on I.I. Chundrigar Road in Karachi
Company type	Public
Traded as	PSX: BAHL KSE 30 component
Industry	Banking
Founded	February 1991; 33 years ago (1991-02)
Founder	Hamid D. Habib
Headquarters	Karachi-74000, Pakistan
Number of locations	1,113 (2023)
Key people	Mansoor Ali Khan (CEO) Abbas D. Habib (chairman)
Products	Loans, credit cards, savings, consumer banking
Revenue	Rs. 147.37 billion (US$510 million) (2023)
Operating income	Rs. 71.12 billion (US$250 million) (2023)
Net income	Rs. 35.31 billion (US$120 million) (2023)
Total assets	Rs. 2.74 trillion (US$9.5 billion) (2023)
Total equity	Rs. 111.89 billion (US$390 million) (2023)
Owner	Dawood Habib Family
Number of employees	20,628 (2023)
Website	bankalhabib.com

Bank Al Habib Limited (Urdu: بینک الحبیب) is a Pakistani commercial bank owned by the Dawood Habib Family and is based in Karachi, Pakistan. It is one of the largest banks in Pakistan. It has wholesale branches in Bahrain and Malaysia and offices in UAE, Turkey (Istanbul), China (Beijing), and Kenya.

History

Habib Group's involvement in banking services dates back to the 1930s. The original Habib Bank began modestly in Bombay in 1941 when it commenced operations with a fixed capital of 25,000 rupees. Impressed by its initial performance, Muhammad Ali Jinnah asked the Habib Bank to move its operations to Karachi 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 Karachi.

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, USA; Banco di Roma, Italy; Commerzbank and Dresdner Bank, Germany; The Royal Bank of Canada, Canada; and The Hongkong and Shanghai Banking Corporation, Hong Kong.

Subsidaries

• AL Habib Capital Markets
• AL Habib Exchange

Executive leadership

• Abbas D. Habib, Chairman
• Mansoor Ali Khan, CEO
• 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 in their annual review of 2005.

The Asian Banker "Strongest Bank Balance Sheet in Pakistan, 2013".

References

1. ^ "Bank Al Habib Annual Report 2023" (PDF). bankalhabib.com. Retrieved 26 March 2024.
2. "What pandemic? Bank AL Habib crosses Rs1 trillion in deposits". Profit by Pakistan Today. September 19, 2020.
3. "Board of Directors".
4. Ali, Meiryum (2020-08-20). "Bank Al Habib to buy high-rise Centrepoint in Karachi". Profit by Pakistan Today. Retrieved 2020-09-26.
5. Bhatti, Eleazar (2018-04-19). "Bank Al-Habib expands into Kenya, opens representative office". Profit by Pakistan Today. Retrieved 2024-12-06.

External links

• Bank AL Habib Limited
• The Habib Group website

v t e Banking in Pakistan
Central bank	State Bank of Pakistan
Big Four	Habib Bank MCB Bank National Bank United Bank
Commercial banking	Public sector Bank of AJK Bank of Khyber Bank of Punjab First Women Bank Industrial Development Bank Karakoram Cooperative Bank Punjab Provincial Cooperative Bank Limited Sindh Bank Zarai Taraqiati Bank Limited Private sector Allied Bank Askari Bank Bank AL Habib Bank Alfalah HabibMetro JS Bank Soneri Bank Standard Chartered Pakistan
Microfinance	Advans Pakistan Finca Pakistan HBL Microfinance Bank Khushhali Bank NRSP Microfinance Bank Telenor Microfinance Bank
Islamic banking	BankIslami Bank Makramah Al Baraka Bank Pakistan Dubai Islamic Bank Pakistan Faysal Bank MCB Islamic Bank Meezan Bank Samba Bank
House building	House Building Finance Company
Savings Bank	National Savings Organization
Foreign banks	Citibank Pakistan Deutsche Bank Pakistan ICBC Pakistan BOC Pakistan Bank of Tokyo Mitsubishi Pakistan
Defunct banks	BCCI Bank of Bahawalpur Burj Bank Federal Bank for Cooperatives KASB Bank NIB Bank PICIC Commercial Bank RBS Pakistan Silkbank Union Bank
See also	List of banks in Pakistan Pakistani bankers Institute of Bankers Pakistan KIBOR National Institute of Banking and Finance
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As of October 2024

• 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
• Bank of America legacy banks
• House of Habib