Top 5 Banks in Pakistan 2024

Pakistan’s banking sector serves various customers, including individuals and businesses, and has evolved significantly with the introduction of digital banking and technological advancements. As of 2024, there are 44 banks in Pakistan, comprising both local and foreign institutions. This article will cover the top 5 banks in Pakistan for 2024, considering factors like assets, deposits, profitability, and customer satisfaction.

How many Banks are in Pakistan?

In Pakistan, there are 44 Banks of various kinds. Pakistan’s banking sector includes Commercial Banks, Foreign Banks, Islamic Banks, Development Financial Institutions, and Microfinance Banks. As per State Bank, there are approximately 44 banks in total. If you wish you can see details on SBP website.

Here is a list of Banks in Pakistan:

BankTotal BranchesOpen BranchesPercentageClosed BranchesPercentage
Askari Bank54851894.53%305.47%
Bank Al-Habib Ltd.754754100.00%00.00%
Bank Alfalah69361388.46%8011.54%
Bank Islami34030990.88%319.12%
Dubai Islamic25224798.02%51.98%
Habib metro40138997.01%122.99%
JS Bank36536299.18%30.82%
MCB Islamic18518398.92%21.08%
Silk Bank12411995.97%54.03%
Sindh Bank33533198.81%41.19%
Soneri Bank Ltd.31028892.90%227.10%
Standard Chartered616098.36%11.64%
Summit Bank19316786.53%2613.47%
Faysal Bank55655199.10%50.90%
Bank of China11100.00%00.00%
Citi Bank33100.00%00.00%
SME Bank1313100.00%00.00%
Al-Baraka Bank194194100.00%00.00%
Microfinance Banks
U micro finanace202202100.00%00.00%
Pak Oman3030100.00%00.00%
Telenor MFB171171100.00%00.00%
APNA MFB11611397.41%32.59%
Advans MFB131184.62%215.38%
Khushhali Bank21321199.06%20.94%
First MFB199199100.00%00.00%

List of Top 5 Banks in Pakistan

Here is a list of top 5 banks in Pakistan:

1. Meezan Bank

Meezan Bank is Pakistan’s first and largest Islamic bank, starting its operations in 2002 with the country’s inaugural Islamic Commercial Banking license from the State Bank of Pakistan. It strictly follows Islamic Shariah principles and is renowned for its innovative products, Islamic banking research, and advisory services. With a vast network of over 815 branches nationwide, it offers a wide range of Islamic banking solutions. The bank has received prestigious awards as one of the best Islamic banks in Pakistan from both local and international institutions. As of December 2017, it maintains a healthy Capital Adequacy Ratio of 12.89 percent. Its headquarters are located in Meezan House, Karachi, Pakistan.

Meezan Bank has been recognized as the Best Bank of Pakistan for the third time at the 2023 Pakistan Banking Awards, the most esteemed award in the country’s financial industry. The Institute of Bankers Pakistan hosts the award ceremony in partnership with the Dawn Media Group and with collaboration from A.F.

2. Habib Bank Limited (HBL)

Habib Bank Limited is among Pakistan’s biggest private sector banks, tracing its roots back to 1941. With branches and 2007 ATMs nationwide, it offers a variety of banking services to its customers. By 2024, the bank had total assets worth PKR 2.9 trillion, solidifying its position as one of Pakistan’s leading banks.

Headquartered in Karachi, the capital of Pakistan, the bank also has branches in various countries across Europe, Australia, the Middle East, America, Asia, and Africa. Its shares are listed on the Karachi Stock Exchange.

3. United Bank Limited

United Bank Limited (UBL) is a significant player in Pakistan’s banking sector, established in 1959. It boasts a widespread network of branches and ATMs nationwide, offering various banking services to its customers. By 2024, UBL’s total assets amounted to PKR 2.8 trillion, solidifying its position as one of the leading banks in Pakistan.

Headquartered in Karachi, Pakistan, the bank has a strong financial profile and a consistent record of profitability. It specializes in Retail Banking, Corporate Banking, Investment Banking, and Treasury Services. United Bank’s shares are listed on all three stock exchanges of Pakistan, and its Global Depository Receipts (GDR) are listed on the London Stock Exchange. With a workforce of over 10,000 employees, the bank is dedicated to providing top-notch banking services to its clients.

4. Muslim Commercial Bank (MCB)

MCB Bank Limited, established in 1947, holds the distinction of being one of the oldest banks in Pakistan. With an extensive network of branches and ATMs throughout the country, it offers a diverse range of banking services to its customers. As of 2024, the bank’s total assets reached PKR 1.9 trillion, cementing its status as one of the prominent banks in Pakistan.

5. National Bank of Pakistan

The National Bank of Pakistan, founded in 1949, holds the distinction of being the largest state-owned bank in the country. With an extensive network of branches and ATMs nationwide, it offers a wide array of banking services to its customers. As of 2024, the bank’s total assets amounted to PKR 3.9 trillion, solidifying its position as one of the leading banks in Pakistan.

So, these are the top 5 banks in Pakistan based on various factors that I discussed in this article. There are some other notable banks in Pakistan like Bank Alfalah, Allied Bank, and Askari Bank.

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