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| EconomyOfPakistan » Banking Sector in Pakistan » Private Scheduled Banks |
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Private Scheduled Banks |
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The emerging international markets of South Asia have seen a potential player in the rapidly developing nation of Pakistan. Since independence in 1947, Pakistan has slowly emerged out of its poverty stages. Witnessing several significant changes made to the economy, the country’s economic growth rate has fluctuated considerably in the last few years. This is due to crucial challenges on the political and economic fronts along with imprudent policies set. The introduction of expansive economic reforms has however resulted in accelerated growth in several sectors, including the banking sector in recent years. However, a complete reversal of performance is not yet projected until the completion of all the reforms. Pakistan comprises of a highly regulated banking sector. It is presided over by the Central Bank of Pakistan, namely, the State Bank of Pakistan (SBP). Significantly comprising several Commercial Banks and Specialized Banking Institutions, there are also many Private Scheduled Banks that play a major role in the banking sector.
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Private Scheduled Banks do ensure the development of a stronger economic outlook of the country. There are several Private Scheduled Banks in Pakistan. Some of the major ones are listed below as:
Allied Bank of Pakistan Limited – located in Lahore, this major Private Scheduled Bank was established in 1942 before independence. It is one of the largest banks in Pakistan comprising over 700 Branches. All of its branches are connected to an online network. The present ownership of the bank is held by the Ibrahim Group after transfer and in 2004.
Atlas Bank Limited – with its head office in Karachi, this bank was originally formed as a joint venture between the Atlas Group, the Bank of Tokyo-Mitsubishi, Japan and the National Investment Trust, Pakistan in February, 2002. After the merger, the shares of the joint venture partners were taken over by the Group. The Bank is a member of all the three Stock Exchanges in Pakistan.
Bank AL Habib Limited- one of Pakistan’s growing banks, it is in run by the Dawood Habib group of companies. Selected as one of the top ‘200 Best Under A Billion companies’ by Forbes Asia in their annual review of 2005, the bank has a network of 152 branches in all the major cities of Pakistan.
Some of the other Private Scheduled Banks in Pakistan are listed below as:
- Arif Habib Rupali Bank Limited (Formerly Rupali Bank), Karachi
- JS Bank
- Askari Commercial Bank Limited, Rawalpindi
- Bank Al-Falah Limited, Karachi
- Bank Islami Limited, Karachi
- Crescent Commercial Bank Limited, Karachi
- Saudi-Pak UN-Commercial Bank Limited, Karachi
- Soneri Bank Limited, Karachi
- Union Bank, Karachi
- United Bank Limited, Karachi
- GR Bank Limited, Karachi
- Dawood Bank Limited, Karachi
- Faysal Bank Limited, Karachi
- Habib Bank Limited, Karachi
- Habib Metropolitan Bank, Karachi
- KASB Bank Limited, Karachi
- Meezan Bank Limited, Karachi
- Muslim Commercial Bank Limited (MCB), Islamabad
- Mybank Limited, Karachi
- NIB Bank Limited, Karachi
- PICIC Commercial Bank Limited, Karachi
- Prime Commercial Bank Limited, Lahore
For further information on other categories relating to Pakistan’s Economy keep browsing through the links at www.economyofpakistan.com
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