A list of banks in Pakistan including all Islami banks, commercial banks, private banks, local banks, domestic banks, foreign banks, and financial institutions.
Pakistan is one of the developing countries in the world situated in Asia. The country is also one of the fastest-growing economies in the world.
Right now, we will provide you with the top listed banks in Pakistan.
About Banks In Pakistan
Banks in Pakistan play a crucial role in the country’s economy, facilitating financial transactions and providing various financial services to individuals and businesses. The banking sector in Pakistan has gone through significant changes over the years, resulting in the establishment of a diversified and competitive banking industry.
The State Bank of Pakistan (SBP) is the central bank of the country and regulates the banking sector. In addition to commercial banks, there are several specialized banks, including Islamic banks, development financial institutions, and microfinance banks, operating in Pakistan.
Pakistan’s banking sector has witnessed remarkable growth in recent years. According to the State Bank of Pakistan’s latest statistics, there are 42 banks operating in Pakistan, with a total of 17,000 branches and over 92,000 ATMs. The sector’s total assets have increased from PKR 5.5 trillion in 2003 to PKR 19.2 trillion in 2021.
The largest banks in Pakistan by assets are Habib Bank Limited, National Bank of Pakistan, and United Bank Limited. These banks, along with other major commercial banks, offer a wide range of services, including deposit accounts, loans, credit cards, and trade finance.
Islamic banking has also become an essential part of Pakistan’s banking industry, with a total of 22 Islamic banks operating in the country. These banks operate on the principles of Shariah, offering financial products that comply with Islamic laws.
Pakistan’s banking sector has faced various challenges over the years, including a high level of non-performing loans, low financial inclusion, and money laundering risks. However, the SBP has taken various measures to address these issues, including implementing strict regulatory frameworks and encouraging the use of digital financial services.
Banks in Pakistan are an integral part of the country’s financial system, contributing to economic growth and development. With continued efforts by the central bank and other stakeholders, the banking sector is expected to play an even more significant role in the country’s future development.
Central Bank Of Pakistan
First of all, The central bank is the official bank of any country which controls and operates all the banks in the country.
State Bank of Pakistan – State Bank of Pakistan is the central bank of Pakistan that started its journey in 1948 situated in Karachi. The currency of the bank is the Pakistani rupee, it is 100% state-owned and controls all other commercials, private, and, government banks in Pakistan.
Along with the bank serves:
- Ensuring financial stability
- Managing public debt
- Regulating the monetary and credit system
- Regulating the issue of banknotes
Government Pakistani Banks
Pakistani banks which are owned and directed fully by the state are called government banks. The banks follow the directions and help to fulfill the mission of Central banks.
- National Banks of Pakistan – National Banks of Pakistan is a government-owned multinational commercial bank that started its journey in 1949.
- Bank of Punjab – Bank of Punjab is one of the largest & prominent commercial banks in Lahore, Pakistan that is founded in 1989.
- Sindh Bank – Sindh Bank is one of the fastest-growing commercial banks in Pakistan. The bank has almost 330 branches serving people all over Pakistan.
- Bank of Khyber – Bank of Khyber is a provincial & regional bank that is controlled by the Government of Khyber Pakhtunkhwa based in Peshawar, Pakistan.
- Bank of Azad Jammu & Kashmir – Bank of Azad Jammu & Kashmir is a state-owned bank by the government of Azad Jammu & Kashmir in Pakistan. It has 65 branches all over Azad Jammu & Kashmir.
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Islami Banks In Pakistan
In Pakistan, there are many banks that follow Islami sharia laws to serve their customers. These banks put first religious acts and laws for the nation.
- Allied Bank Limited – Allied Bank Limited is the largest Islami bank in Pakistan that is also the first known to follow the shariah rules of Islam founded in 1942.
- Bank Alfalah Limited – Bank Al Falah Limited is one of the largest private banks in Pakistan, and also has international branches in many countries.
- Bank Al-Habib Limited – Bank Al Habib Limited is one of the largest commercial banks in Pakistan founded in 1991.
- BankIslami Pakistan Limited – Bank Islami Pakistan Limited is one the most popular Islami shariah-based banks in Pakistan, founded in 2006, the first Islamic bank to receive an Islami bank license in Pakistan.
- Dubai Islamic Bank Pakistani Limited – Dubai Islamic Bank is the largest Islamic bank in UAE which has also a branch in Pakistan named Dubai Islamic Bank Pakistani Limited.
- Faysal Bank Limited – Faysal Bank Limited is a Pakistani Islami bank that is founded in 1994 and based in Karachi.
- Habib Metropolitan Bank Limited – Habib Metropolitan Bank Limited is a subsidiary bank of Habib Bank AG Zurich based in Switzerland. The bank has been awarded the best Islamic banking brand.
- JS Bank Limited – JS Bank Limited is a Pakistani Commercial bank that is founded in 2007. The bank has several awards for its contribution to Pakistan.
- MCB Bank Limited – MCB Bank Limited is a public and multinational commercial bank in Pakistan. The bank has nearly 1600 branches all over Pakistan
- Meezan Bank Limited – Meezan Bank Limited is the first-ever Islamic commercial bank permitted by the state bank of Pakistan. The bank owns nearly 900 branches throughout the country.
- Soneri Mustaqeem Islamic Bank – Soneri Mustaqeem Islami Bank is one of the leading banks in Pakistan. The bank is extremely popular for its social contributions such as sports, arts, and women empowerment.
- Silk Bank – Silk Bank is one of the innovative commercial banks in Pakistan founded in 1994. The bank has almost 123 banks in Pakistan.
- Habib Bank Limited – Habib Bank Limited is the first commercial bank in Pakistan founded in 1940 by the Habib family.
- United Bank Limited – United Bank Limited is one of the largest multinational commercial banks in Pakistan founded in 1959.
Foreign Banks In Pakistan
Like other countries, in Pakistan, there exist also foreign banks offering loans, credits, consumer banking, savings, and other services.
- Bank of China – Bank of China is the national commercial bank of China and one of the largest banks in the world.
- The Hong Kong & Shanghai Bank – The Hong Kong & Shanghai Bank is the largest bank in Hong Kong, the bank is known as HSBC globally.
- Citi Bank – Citi Bank is an international multinational bank, having several branches around the world. The financial company has also a branch in Pakistan.
- Standard Chartered Bank – Standard Chartered Bank is a British multinational bank that has a branch in Pakistan, being the oldest & largest foreign commercial bank in the country.
- Industrial and Commercial Bank of China – Industrial and Commercial Bank of China is a Chinese multinational bank that is founded in 1984. The bank is one of the largest public companies in the world.
Microfinance Banks In Pakistan
Microfinance is mostly nonprofit and focuses on social development work in countries worldwide.
- Finca Microfinance Bank – Finca Microfinance Bank is a non-profit & microfinance organization, that follows village banking methodology.
- Mobilink Microfinance Bank – Another famous microfinance bank in Pakistan is Mobilink Microfinance Bank which is under control by the Mobilink telecommunication industry.
- Khushhali Microfinance Bank – Khushhali Microfinance Bank is the first microfinance bank based in Islamabad, Pakistan which was the part of poverty reduction strategy by the Pakistan Government.
Development Finance Institution
- House Building Finance Corporation – House Building Finance Corporation is a housing finance company that is operated by the state bank of Pakistan. It has 51 branches all over the country.
Hence, banks in Pakistan help in several ways to the nation such as providing loans, investing in welfare, and other socio-economic development.
Which bank is best in Pakistan?
There are many commercial, private, or Islamic banks in Pakistan that serve different eligible offers to customers. You can choose your categories such as National banks of Pakistan, Meezan Bank Limited, Bank AlFalah, and more.
Are banks open on Saturday in Pakistan?
Although, the State banks of Pakistan declared banks to stay open on Saturday from 8:00 am to 1:00 pm. A few selected banks offer this service including the National Bank of Pakistan, Habib Bank Limited, Meezan Bank Limited, Bank Al Falah Limited, United Bank Limited, and Al Baraka Limited.
How to open a bank account in Pakistan?
Although the documents needed for opening a bank account is varied from bank to bank. But, basically, people need a legal passport, address information, income details, utility bill, and other details.
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