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Habib Bank Limited (Urdu pronunciation: [ha.ˈbiːb bɛŋk] hah-BEEB-BANK) is a Pakistani commercial bank based at Habib Bank Plaza, Karachi. It is a subsidiary of Swiss-based organisation Aga Khan Fund for Economic Development. Established in 1941 by the Habib Family, it is one of the oldest bank of Pakistan.
The other branch of Habib family founded Bank AL Habib, which is owned by the descendants of Habib's elder son, Dawood Habib. [3] The bank was listed on the Karachi Stock Exchange in the same year. [5] Kassim Parekh, who had served as the president of Habib Bank from 1984 to 1988, was appointed as chairman and CEO of Metropolitan Bank in 1992. [3]
Bank AL Habib was incorporated as a Public Limited Company in October 1991 and started banking operations in 1992. (Late) Hamid D. Habib, grandson of the founder a Habib Group, was the first Chairman of Bank AL Habib Limited. He was a Director in Habib Bank Limited from 1954 and its chairman from 1971 until nationalisation.
Karachi: Bank Al-Habib Limited (BAHL) Karachi: Habib Bank Limited (HBL) Karachi: Habib Metropolitan Bank Limited: Karachi: JS Bank Limited (JSBL) Karachi: Standard Chartered Pakistan (SC Pakistan) Karachi: United Bank Limited (UBL) Karachi
Habib Bank Plaza (Urdu: حبیب بینک پلازا), also known as HBL Plaza, located on I. I. Chundrigar Road in Karachi, [4] Sindh, Pakistan, [5] is the head office of Habib Bank Limited.
Bank Alfalah Limited (Urdu: بینک الفلاح لمیٹڈ), formerly known as Habib Credit and Exchange Bank, is a Pakistani commercial bank headquartered in Karachi. It is a subsidiary of an Emirati conglomerate, Abu Dhabi United Group .
In 1921, his four sons joined the business, and Habib & Sons was established, which eventually transformed into today's HBL Pakistan or Habib Bank Limited. [1] [6] The House of Habib occupies a significant place in Pakistan's early history. Habib Bank was relocated to Pakistan at the personal request of its first Governor General Mohammad Ali ...
In 2009, Arif Habib sold the bank to Suroor Investments for Rs. 2.7 billion (US$32.5 million) which then merged with Atlas Bank and Mybank to form Summit Bank. [ 3 ] In 2010, Arif Habib merged its investment arm, Arif Habib Investments, with MCB Asset Management to form the MCB-Arif Habib Savings and Investments Limited.