Type PLC Customer service 00 92 21 111 111 425 Number of employees 14,000 | Traded as KSE: HBL Headquarters Karachi, Pakistan Founded 1947 | |
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Industry Financial services
Banking
Capital Markets Key people Nauman Dar
President & CEO Products Loans, credit cards, Savings, Consumer Banking etc. Revenue ₨114.75 billion (US$1.1 billion) - 2015 CEO Nauman K. Dar (29 Sep 2012–) Subsidiaries Habib Bank Limited, Employees Provident Fund Profiles | ||
Hbl pakistan super league draft 2016
HBL (Urdu: حَبيب بينك) (formerly Habib Bank Limited) now referred to as HBL Pakistan is a Karachi based multinational bank. It is the largest bank in Pakistan.
Contents
Founded in 1941, HBL became Pakistan's first commercial bank, in 1951 it opened its first international branch opened in Colombo, Sri Lanka. In 1972 the bank moved its headquarters to the Habib Bank Plaza, which became the tallest building in South Asia at the time. The bank was nationalised in 1974 and privatized in 2003 when Aga Khan Fund for Economic Development acquired a controlling share.
As of 2016, the bank has presence in over 25 countries spanning across four continents, including 1500 branches in Pakistan and 55 branches worldwide. It has operations in Hong Kong, Kenya, Nepal.
It is the largest company in Pakistan in terms of assets, and has repeatedly ranked top Pakistani company in the Forbes Global 2000.
Services
Habib Bank offers the basic range of banking services to its customers, to include commercial, bank in the emerging markets.
History
Mohammed Ali Jinnah, Pakistan's founding father, realized the importance of financial intermediation while he was campaigning for the creation of a separate homeland for the Muslims of India. He persuaded the Habib family to establish a commercial bank that could serve the Indian Muslim community. His initiative resulted in the creation of Habib Bank in 1941, with HO in Bombay (now Mumbai), and fixed capital of 25,000 rupees. The bank played an important role in mobilizing funds from the Muslim community to finance the All-India Muslim League's campaign for the establishment of Pakistan. Habib Bank also played an important role in channeling relief funds to Muslims hurt in the communal riots and violence that preceded the departure of the British from India.
After the formation of Pakistan in 1947, Habib Bank moved its headquarters to Karachi, Pakistan's first capital, at the urging of Governor-General Jinnah. This gave Karachi its first commercial bank of the newly formed Pakistan. The Habib family would own and manage the bank until the Pakistan government nationalized it on 1 January 1974.
In the 1950s, the HBL started its international expansion. In 1951 it opened the first of what would become three branches in Sri Lanka. The next year HBL established Habib Bank (Overseas). Then in 1956 HBL opened the first of five branches in Kenya.
On 13 June 2002, Pakistan's Privatization Commission announced that the Government of Pakistan would grant the Aga Khan Fund for Economic Development (AKFED), a subsidiary of the Aga Khan Development Network, majority ownership of HBL against an AKFED's investment in the bank.
During 2002, HBL's UK operation came close to being shut down due to regulatory issues with the Financial Services Authority. The issue was resolved by converting the operations to a subsidiary. Then Habib Bank Limited and Allied Bank of Pakistan merged their operations (Habib contributed its 6 branches and Allied its 4), into a new bank, called Habib-Allied International Bank, in which Habib Bank has a 90.5% shareholding, while Allied Bank has 9.5%. Simultaneously with the transfer of business to the new bank, both Allied and Habib Bank closed down all independent operations in the UK.
In 2003, HBL received permission to open a branch in Afghanistan.
On 29 December 2003, Government of Pakistan granted AKFED rights to 51% of the shareholding in the bank against an investment of PKR 22.409 billion (USD 389 million). the next year, on 26 February, the government of Pakistan handed over management control of Habib Bank to AKFED. The Board of Directors was reconstituted to have four AKFED nominees, including the Chairman and the President/CEO and three Government of Pakistan nominees. The bank's owners now comprise the Aga Khan Fund for Economic Development (51%), Government of Pakistan (42.5%), and the general public (7.5%).
On April 18, 2016, HBL received licence to operate a subsidiary in Ürümqi, Xinjiang, becoming the first Pakistani bank to operate in China.