Top 10

The Top 10 Most Profitable Banks Of Pakistan 2020.

We share a list of The Top 10 Banks of Pakistan.

Few days before the Coronavirus spread in Pakistan, economists make up their minds that the impacts of CPEC development Projects will prove to be a growth factor for the future of the Banking Sector in Pakistan. Suddenly, the pandemic starts showing very bad impacts on the economy vis-à-vis Banking sectors most affected. The first quarter interim reports are showing some better results and it is a sign of Pakistan’s economy which is not as much as affected by the spread of the virus in Pakistan.

As the economists say that ‘Banks play a crucial role in progression and development of an economy’ we ascertain that there are always six biggest players (almost 60% share in deposits) hold a major stake of the Banking Industry (assets): 

  1. Habib Bank Limited (HBL)
  2. National Bank of Pakistan
  3. United Bank Limited
  4. MCB Bank
  5. Allied Bank Ltd
  6. Meezan Bank
  7. Bank Al Habib Ltd
  8. Bank Alfalah
  9. Bank Of Punjab
  10. Standard Chartered Bank Pakistan

Let’s see each one of them in detail:


Habib Bank Limited – CEO: Mohd. Aurangzeb – 

Currently holding a market share of more than 15%, HBL was founded in 1941 in Bombay and then officially started its operations as the first Pakistani Commercial Bank in 1947. Habib Bank Limited is the largest bank by asset size of US$ 21bn in Pakistan. HBL operates through a network with 1751 branches and 2007 ATM and has branches in 15 countries. HBL Bank provides services Branch Banking, Corporate Banking, Retail Financing, SME & Rural Banking, Financial Institutions & Global Trade Services, Transaction Banking, and also Islamic Banking. 

HBL Bank was acquired by Sir Agha Khan in 2004 (51%) through Agha Khan Fund for Economic Development and the remaining 49% holds by individuals, local and foreign Institutions, CDC Group PLC, and IFC. HBL Bank is headquartered in the financial capital of Pakistan, Karachi. HBL Bank is listed on the Karachi Stock Exchange.

“HBL Bank is the largest executor of CPEC financing in Pakistan. HBL Bank is also the first Pakistani commercial bank to start RMB (Chinese currency) operations in the country. HBL did ten transactions of total US$ 3.5bn worth from September 2017 to September 2018. The notable deals were China State Grid private-sector transmission line, Thar Energy Coal Station, Sindh for US$ 1.7bn, and $520 million respectively.” All thanks to the HBL CEO Mr. Aurangzeb…

HBL Ratings:

JCR-VIS Credit Rating Company has reaffirmed the ratings of Habib Bank Limited at Long Term ‘AAA’, Short Term A-1+ with ‘Stable’ Outlook. Where MOODY’s Long Term ‘Caa1’, Short Term ‘NP’ with ‘Stable’ Outlook.

National Bank – President: Arif Usmani –  

National Bank, once listed on the Top 1000 banks of the world, was founded in 1949 with its headquartered in Karachi. NBP is a government-owned –75.2% owned by the State Bank of Pakistan –bank and the second-largest bank operating in Pakistan. NBP has over 1509 branches with 1120 ATMs in Pakistan and globally represents Pakistan in 11 countries. 

National Bank is the second-largest bank after HBL bank with an asset size of more than 3.02 trillion (US$ 17bn) whereas deposits of PKR 1.93 trillion and gross advances are RS. 951bn posted as a marginal growth of 1% Year-on-Year. As of September 2019, the total profit of NBP was Rs. 79.44bn which is 20.3% higher than last year.

National Bank acts as a trustee of public funds and agent to the State Bank of Pakistan. NBP provides both commercial banking and public sector banking services to the nation. NBP is a leading player in the debt-equity market, investment banking, agriculture financing, retail financing, and treasury services. 


As of Jun 2018, Credit Rating Company (JCR-VIS) has reaffirmed the entity ratings of National Bank of Pakistan (NBP) at ‘AAA/A-1+’ (Triple A/A-One Plus) with ‘Stable’ Outlook.

On 6th December 2019, according to a Newspaper in Pakistan, ‘Moody’s’ (Investors Service) has affirmed the B3 long term local currency deposit ratings of NBP – National Bank of Pakistan and upgraded the outlook from negative to stable.


  • National Bank of Pakistan won the “Business Performance Award” at the 24th All Pakistan Newspapers Society (APNS).
  • National Bank of Pakistan won “Corporate Social Responsibility” awards in different categories at the 11th International CSR (Corporate Social Responsibility) Summit and Awards-2019 organized by the National Forum for Environment and Health (NFEH).

MCB Bank –CEO: Imran Maqbool

With more than 1,387 domestic and 11 overseas branches and more than 1350 ATMs network, MCB Bank Limited is one of the oldest and top banks in Pakistan. Founded in 1947 and was nationalized in 1974 by Zulfiqar Ali Bhutto, MCB bank was later privatized in 1991. MCB bank was the first bank to be privatized in that year and purchased by Chinnioti corporate consortium led by ‘Mian Mansha’. Adamjee Insurance Company Limited is an Associated Company of MCB.


“MCB Bank is as one of the oldest and most responsible Banks in Pakistan and the largest issuer of cards in the country, with an astounding base of 2.5 million cards.”

In 2005, to explore the International Markets the Management of Muslim Commercial Bank abbreviated its name to MCB Bank Ltd. In 2008, the Maybank International Trust (Labuan) Berhad of Malaysia announced the acquisition of a 20% stake in MCB Bank Equity. Finally, in 2008, the head office of MCB Bank was shifted to Jail Road, Lahore.

The total Assets of MCB Bank as of Mar 2020 are US$ 10,337 million with average asset growth of 12.5% annually for the last three years. MCB secured its top position after (PBT) Rs. 27.51bn and 16.29 (PAT) profit recorded in 2019. (Net income grew to Rs. 42.99bn)

Another Financial Holding Company of Singapore became a significant shareholder when NIB Bank was merged into MCB Bank in 2017. MCB’s shares are traded on the Stock Exchange in Pakistan.

MCB Bank has also been acknowledged through prestigious recognition by World Finance, Euromoney, MMT, SAFA (SAARC) & Asia Money, The Asian Banker, The Asset Triple A, Finance Asia, NFEH, CFA, and Pakistan Centre of Philanthropy. It provides commercial banking and related products and services in Pakistan, South Asia, Middle East, and Eurasia. The Bank is headquartered in Lahore, Pakistan.


  • MCB won Best Bank Award in 2019 and PSX 25 Top performing Companies in 2018.
  • MCB was the ‘Asiamoney’ most outstanding company in Pakistan in the Financial Sector.
  • MCB has the distinction of winning ICAP and ICMAPs Best Corporate Award for consecutive seven years.


MCB currently carries and entity risk rating of AAA (long term) and A1+ (short term) by PACRA (Pakistan Credit Rating Agency).

United Bank Limited – CEO: Sima Kamil – 

With over 1400 branches & ATMs, and a pioneer in branchless banking with UBL Omni Platforms and a presence of 37,000 Omni Agents, UBL is leading the financial service sector in the country. UBL is present on four continents. UBL was founded in 1959 and it was privatized in 1974 by the Government of Pakistan. UBL Bank is a subsidiary of a British company ‘Bestway Group’ with 61.47% shares in it. 

In 2002, Govt. of Pakistan privatized the UBL Bank and sold 51% shares. In 2006, UBL introduces Islamic Banking ‘Ameen’ and 3 years after in 2009; UBL inaugurated UBL Sports Complex, near Lucky One Mall. UBL Bank inaugurates a state of the art new Head Office Building at I.I Chundrigar Road, Karachi.

UBL proudly has the first female CEO of a male-dominant banking sector in Pakistan.

UBL bank specializes in Corporate Banking, Investment Banking, Retail Banking, and Treasury Services. UBL bank’s shares are listed on all Stock Exchanges of Pakistan.

In a consolidated condensed Interim report on March 2020, UBL bank reported net Assets of Rs. 1.86 trillion with a profit after tax is Rs. 4.91bn. The profit for 2019 was Rs. 20.7bn.


  • UBL wins the ‘Best Bank 2016’ Award, CFA ‘Best Bank Award’ & Top 25 Companies of the Year by PSX.

Allied Bank Limited – CEO: Tahir Hassan Qureshi

ABL – Allied Bank Limited was established in a garage in 1942 and founded as a first Muslim Bank by a Kashmiri Silk Trader ‘Khawaja Bashir Buksh’ with 12 lakh rupees capital in Lahore before partition. 

Allied Bank went through very difficult phases notably at the time of Partition when rioters attacked ABL (former Australasia Bank) resulted in losing 06 branches along with capital and deposits and in lost 51 branched in 1971 due to the separation of East Pakistan.


ABL was second-highest among all the banks which were nationalized in 1974. In 1990, the government announced the rapid privatization of the banking sector and resulted in privatization in the year 1991.

In 1991, as a result of privatization Allied Bank recorded a remarkable history and became the world’s first bank to be owned and managed by its employees…

Finally, ABL was transferred to Ibrahim Leasing Limited & Ibrahim Group in August 2004 and then in December 2014, the Government sold its remaining 11.5% stake for Rs. 14.4bn. 

With 1350 branched and 1500 ATMs, ABL announced its first-quarter 2020 consolidated interim financial statements as that it has Rs. 1.364 trillion assets with Rs. 6.38bn Profit (Profit before Tax).

ABL offers Personal, Business, and Islamic Banking services from Corporate & Investment Banking, Trade Services, Agriculture Financing, Everyday Accounts, Savings & Term Deposits, Credit & Debit Cards, Domestic Remittance, Bancassurance, Digital Banking, Personal Internet Banking, Mobile App and Shariah-compliant Aitbaar Islamic Banking.


  • Allied Bank won the Corporate Excellence Award by MAP.
  • Best Bank ‘Large Size’ by CFA Society, Best Corporate Award (2018, 2nd Position)
  • Islamic Finance Excellence Award by the Punjab Government

Meezan Bank – CEO: Irfan Siddiqi –

MBL – Meezan Bank Limited was incorporated in Pakistan in January 1997 as a public limited company under the Companies Ordinance 1984. MBL was registered as an ‘Investment Finance Company’ in August 1997. MBL continued the business of investment banking (as permitted under SRO 585(I)/87 dated July 13, 1987) in accordance and conformity with the principles of Islamic Shariah. MBL commenced its business’ in September 1997.

MB’s story started after –the French Multinational Investment Bank SG Société Générale sold its corporate and investment arm – State Bank approved the amalgamation and regulates the bank to provide the requisite framework for Islamic banking under the supervision of the most prominent religious Scholars of Pakistan. Initially, SG represents almost 7 percent of the total paid-up capital. In March 2002, after getting a license as a ‘Scheduled Islamic Bank’, Meezan Bank started as a scheduled Islamic commercial Bank.

Pakistan’s first and largest dedicated Islamic Bank –with a paid-up capital of Rs. 12.8bn –operates under the principles of Islamic Shariah and is recognized Islamic Banking research and advisory services provides services of Hajj, Wedding, Retirement, Home / Auto Finance services through its wide network of the 750 branches nationwide. Meezan Bank is the only Bank in Karachi with Its headquartered in ESTATE Avenue, Industrial Area in Karachi, Pakistan.

In 2014, Meezan Bank acquires HSBC Pakistan operations consisting of 10 branches and the bank operates through a shareholding structure of Noor Financial Investment Company 35.25%, Pak Kuwait Investment Company 30%, Islamic Development Bank 9.32% and other Shareholders 25.43% respectively.

In the first quarter of 2020, as per the unaudited interim statement, MBL declared Asset Rs. 1.138 trillion where PAT (profit after taxation) is Rs. 5.50bn and also maintained a deposit base of Rs. 928bn with a 6% market share, with 774 branches in 231 cities in Pakistan. 

Meezan Bank is the 6th largest bank in Pakistan and has a distinction of opening 98 new branches across Pakistan since March 2019.

Awards / Recognition:

Meezan Bank has been conferred with major recognition as the ‘Best Banks in Pakistan’.

Bank Alfalah – CEO: Atif Bajwa

Founded 23 years ago in 1997, with over 700 branches and an international presence in UAE and other countries, Bank Alfalah is the fifth largest private Bank of Pakistan provides financial solutions to corporations, institutions, consumers, and government through a broad spectrum of products and services. Bank Alfalah’s services include Investment Banking, Corporate Banking, Consumer Banking and Credit and Securities Brokerage, and Islamic and SME financing.

Bank Alfalah was incorporated as a public limited company in 1992 under the Companies Ordinance 1984 and commenced banking operations from Nov 1997. Bank Alfalah is owned and operated by the Abu Dhabi Group and IFC (International Finance Corporation) of the World Bank partnered with the Bank in 2014. IFC holds a 15% stake in Alfalah Bank. Bank Alfalah is listed on the Stock Exchanges of Pakistan and it is headquartered in Karachi at I.I. Chundrigar Road.

The board of Directors of Bank Alfalah approves the Bank’s unaudited condensed interim financial statement for the first quarter of 2020, the after-tax profit will be Rs. 2.81bn.

“Bank Alfalah’s CASA (Current Account Saving Account) ratio at 80.6% remains amongst the highest in the Banking Industry.”


JCR-VIS and PACRA have assigned an entity rating of ‘AA+’ (Double A plus) for the long-term and ‘A1+’ (A-one plus) for the short-term for Bank Alfalah Limited with a stable outlook.

Bank Al Habib Ltd –

The Bank Al Habib Limited is a commercial bank owned by Pakistan’s richest ‘Dawood Habib Family’. Bank Al Habib is not only spread over Pakistan, but it also has branches in Kenya, Turkey, China, Malaysia, and UAE. 

In 1991, through the privatization scheme announced by the Government of Pakistan, The Habib Group was the first to establish a private bank which was named as ‘Bank AL Habib Limited’. Bank AL Habib was incorporated in 1991 and started banking operations in the year 1992.

Bank Al Habib has the largest number of ATMs in the city of Karachi.

Mr. Abbas Dawood Habib is the Chairman of the Board of Directors and Mr. Mansoor Ali Khan is the CEO of Bank Al Habib Ltd. BAHL is listed on the Pakistan Stock Exchange with its Main Branch located on I.I Chundrigar Road, Karachi.

Bank Al Habib is a scheduled Bank principally engaged in the business of Commercial and Islamic Banking under the repealed Companies Ordinance 1984.

With more than 745 branches (200 more branches were expected in 2020 before coronavirus outbreak) across Pakistan, the Bank announced an un-audited first-quarter result having Rs. 1.944 trillion assets with Rs. 4.79bn Profit (before tax).


Pakistan Credit Rating Agency Limited rated BAHL for Long Term and Short Term entity ratings (Double AA-plus) AA+ and (A-One Plus) A1+

Bank Of Punjab – President: Zafar Masud-

BOP was founded by Tajammul Hussain in 1989 and headquartered on Main Boulevard, Lahore. Bank of Punjab (BoP) has also retained its position in the top 10 banks of Pakistan. Bank of Punjab has reported double-digit profit growth of 13% for the first three-quarters of 2019.

With 624 branches (including one hundred Taqwa Islamic banking branches), BOP announced results in an unaudited financial report that the Assets of the bank stands at Rs. 899.1bn and Rs. 1.5bn Profit (after Tax) in the first quarter of 2020. 


PACRA rated BOP – Bank of Punjab ‘AA’ (Long Term) and A1+ (Short Term).

Standard Chartered Bank – CEO: Shahzad Dada

2020 marked SCB’s – Standard Chartered Bank Pakistan 158th anniversary. SCB is the oldest and the Largest Foreign Bank in Pakistan and a wholly-owned subsidiary of Standard Chartered Bank UK.

To meet customer’s financial needs and a desire for Shariah-compliant solution without compromising their beliefs, Standard Chartered Bank’ introduced ‘Saadiq’ Islamic Banking in Pakistan. Standard Chartered Bank Pakistan is recognized with its first ‘Shariah’ compliant with strong banking backbone and wisely banking offer to Pakistani customers and provides the best of both worlds –Conventional and Islamic.

In the year 2006, Standard Chartered Bank with its 46 Branches had acquired (Pakistan’s eight largest Bank) Union Bank with its 65 branches across Pakistan. With this merger, Standard Chartered stands as the eighth largest bank of Pakistan in 2006.

SCB has the record of being awarded the Islamic Banking license ever granted to any international banking institute operating in Pakistan.

With a workforce of more than 3,000 people and operates more than 77 branches in 11 major cities of Pakistan, Standard Chartered Bank Pakistan crossed a milestone Rs. 600bn. The total Assets of SCB Pakistan are Rs. 619bn in 2019 with Rs. 27.19 Profit before Tax.

SCB facilitates common men with ranges of products and wealth management from deposits to personal loans and mortgages and corporate clients with Forex, Trade, Lending, finance, and securities.

Standard Chartered Bank is recognized for its quick approval and direct intermediary services. SCB Pakistan is known for Foreign Remittances to Freelancers with no extra charges.

Awards / Recognition:

  • Best International Bank
  • Best Foreign Bank in Pakistan
  • Global Finance Award

Bonus – Telenor Microfinance Bank – Top Microfinance Bank in Pakistan 

Branchless bank of more than 45 million accounts, more than 2.5 million are conducted daily. The expanding market’s biggest share belongs to ‘Easypaisa’ since the Telenor took full control of ‘Tameer’ (Bank) which was the Pioneer of Microfinancing in Pakistan. The ‘Easypaisa’ reaches to every corner of Pakistan where big or even small banks cannot get or offer the unbanked any financial services.

In November 2018, the Competition Commission of Pakistan (CCP) approved Alibaba to acquire 45% shares ($184.5 million) of Telenor Microfinance Bank Limited.

SPF expresses gratitude to Mr. Zafar Masud – President BOP

Sales Professional Forum expresses sincere gratitude to Almighty for the miraculous survival of Mr. Zafar Masud – President and CEO, Bank of Punjab in the tragic Plane crash of PK 8303. May Allah rest the departed souls in eternal peace … Aameen

Disclaimer: All Banks are rated by JCR-VIS and MOODY’s. We take no responsibility to finance, buy, trade, or deal with the above institutions’ and their stock. These rankings were based on their branches, profits, and asset values.

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Sohail Yousuf

Sohail Yousuf is a content writer at SPF. He is a Master's in International Relations and loves to write.

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