Banks play an important role in the development and progression of Pakistan. Due to banks many works become easy and fast like to send and receive money from anywhere of the world through a bank, foreign remittance, pay utility bills, do deposits safely, get insurance for future, for their child education and many other purposes.
There are a lot of banks which are working in Pakistan for the facility of general public and the progress of their country, in which some banks are on the top of list due to their best service and management.
In the previous article we explain best banks in Pakistan Microfinance bank and, in this article, we give you information about a list of best banks which working in Pakistan.
Types of banks
All banks are categorized in some terms which are including
List of top best banks in Pakistan
Government banks
- State bank of Pakistan
- National bank
- Bank of Punjab
Commercial banks
- United bank limited
- MCB bank
- Habib bank limited
- Allied bank
- Bank ALFLAH
- Askari bank
- Summit bank
- Soneri bank
- JS bank
- Bank Al Habib
- Slandered Chartered bank
Islamic banks
- AL Baraka Bank
- first woman bank
- Meezan bank
- Faysal bank
Microfinance banks
- Zarai Taraqiati bank
- Industrial development bank and many others
Government banks
First of all, we give you detail about government banks which are working
in Pakistan. There are three government banks which detail is given
below.
1.State bank of Pakistan (SBP)
State bank is the biggest bank in Pakistan which working from July 1948
and establish by Muhammad Ali Jannah who is the founder of Pakistan. All
remaining banks follow the rules of state bank of Pakistan. The main
object of state bank is to make money by holding securities, give cash to
all other banks in Pakistan, introduce and withdraw prize bond and many
other purposes. This bank has many branches within Pakistan and out of
countries.
2.National bank of Pakistan (NBP)
National bank is the best and biggest bank in Pakistan. It was founded in
1949 after made of Pakistan. It has different products like sending and
receiving payments, deposits, give ATM for the facility of their customers
and work like a microfinance bank to give loan and many other facilities.
It has 14000 employs and more than 1450 domestic branches and 21 overseas
branches in all over the Pakistan. National bank is also a government bank
and its head office located in Karachi which is the biggest city of
Pakistan.
3.Bank of Punjab
Bank of Punjab established in 1992 and it was the best bank due to their
services and their net income. It has more than 7000 employs and 624
branches. The profit of bank of Punjab in 2020 was round about 1.5 bn
after taxation. It has different services for their customers which
are
• Foreign remittance
• Deposit in local and foreign
currency
• Currency conversion
• Debit and credit cards
• Consumer banking
• Corporate banking
• Different insurance plans
• Give advance loan to business,
trade and agriculture field
• Private equity and wealthy
management
Commercial banks
Now we will give you information about commercial banks which are in
working in all the cities of Pakistan and found in a huge quantity, which
detail is given below.
1.United bank Limited (UBL)
United bank is the best bank for deposits, online transactions, foreign
remittance and for account holders and it has millions of customers.
In the private sector it was the biggest and oldest bank which made in
1959 and got best Pakistani bank awards many times. It works national and
international levels. It has 1380 branches within Pakistan and 19 branches
at international level. It works in 12 countries of the world which are
Bahrain, Qatar, China, UK, Switzerland, Oman, Yemen, USA, Iran, UAE,
Tanzania and Pakistan.
Its branches in all over the cities of Pakistan and its head office
located in Karachi city of Pakistan. You can find easily UBL branch
anywhere in Pakistan which has a huge number of employees. It has
different products which are best bank for saving account in pakistan
• Account opening
• Deposits
• Sending and receiving
payments
• EFU life insurance
• Foreign remittance
• Debit card, credit card and Visa
card
• Advance loans
• Utility bills
• Online banking
• Cars at lease
• Electronic fund transfer
• Net banking
• Currency conversion and many
other services
Note:The best account in UBL is Mukammal current account which
have free ATM card, free cheque book and free account opening and deposits
no any cutting.
I use this bank and it was my favorite bank.
2.MCB
MCB is the bigger and oldest bank in Pakistan. It was established in 1947
which has 1100 branches within Pakistan and 8 branches in different
countries. It has more than 14000 employees and headquarter is located in
Lahore, Pakistan. In 2005 it cut their name Muslim commercial bank into
MCB in the global market, now its name is just MCB.
3.Habib bank limited (HBL)
HBL is the famous and largest bank due to their assets and this bank was
established in 1947 in Mumbai on the request of Muhammad Jannah (founder
of Pakistan) to help Indian Muslims. It was 1500 branches with in the
cities of Pakistan and 55 branches in other countries. hbl head quarter
was located in Karachi.
HBL bank has best service in insurance plans, if you to take insurance
plans then you should must in HBL. HBL use Jubli life insurance to
facilitate their HBL customers. This bank working on different sectors
which are branch banking, corporate banking, Retail financing, SME and
investment banking service.
4.Allied bank
Allied bank is also a best bank in the history of Pakistan. This bank was
established in 1942, now it has 1100 branches and 1200 ATM in all over the
cities of Pakistan. This bank also provides short term loans to their
customers to fulfill their necessities, work and run their
business.
5.ALFALAH bank
ALFLAH bank is the 6th biggest bank in Pakistan which has 640 branches in
all over the Pakistan. It has established in 1997 and it was the single in
Pakistan which incorporated under the ABU DHABI group. This bank started
their banking services from 1st November 1997. It has 700 branches within
cities of Pakistan, 54.3 billion revenue and 8.5 billion net
income.
The best service of this bank is car loan on installments/ lease, it has
nominal interest rates. This bank provides different products which are
giving loans, provide saving accounts, debit and credit cards, Securities
brokerage, customers banking, debit and credit cards.
6.Askari bank
Askari bank was established in 1991 as a public limited company and under
the control of Fauji Foundation group. This bank was registered in
Karachi, Lahore and Islamabad stock exchange company. It has 440 branches
and 8000 employees and it headquarter is located in Rawalpindi. It has
different products which are customer banking, commercial banking, advance
loans, securities brokerage.
7.Summit bank
Summit bank is a professional banking services and business focused. you
can use Summit bank services online by downloading a mobile app and get it
registered by calling summit bank head office number or by visiting at
branch.
This bank was shared by Suroor investment and it has 200 branches in all
over the cities of Pakistan. Summit bank head office located in Karachi.
It was the best in their services. The best quality of this bank is to
provide fresh and new cash to each customer and their account
holders.
8.Soneri bank
Soneri bank was incorporated in 1991 as a public limited company and
registered in stock exchange. Its head office was located in
Lahore.
This bank offers current account, saving account, pensioners account,
lockers and electronic banking. According 2019-2020 annual financial
report 1.9 billion profit.
9.JS bank
JS bank was founded in 2007 and it has 238 branches. It was owned by JS
group which are the largest shareholder of Pakistan. It has best banking
services and its branches are located in all over the cities of
Pakistan.
10.Bank AL Habib
Bank Al has incorporated in 1991 and they started their banking services
in 1992. It was established by Dawood Habib family. It has 850 branches
with in Pakistan and its head quarter located in Karachi. This bank work
at both national and international level. In 2020 it got must profit which
round about 1.36 trillion.
This bank gives many services to their customers like other banks and it
was the third biggest ATM service provider bank in Pakistan. This bank
provides two types of VISA cards.
11.Standard Chartered bank
Standard Chartered bank is the banking and financial company which
working in Pakistan. It was the biggest and oldest bank which working in
from 1863. It has 94 branches in Pakistan and working this bank in all
over the world. It was the sixth biggest bank in Pakistan. Its head
quarter located in Karachi. Standard Chartered bank offers different
products including loan, Mobile banking, SMS banking, debit and credit
cards, savings and many other services.
Islamic Banks
Here we will discuss Islamic banks which Muslim like most and can use
without any fear of Sood or illegal activities. These banks are
including
1.AL Baraka Bank
AL Baraka bank is the Islamic bank and they receive a license best
Islamic banking award to fulfill the all rules and polices of Islam.
It has 300 branches in all over the cities of Pakistan. In 2015 this bank
was merged with KASB and become a best and biggest bank of Pakistan.
2.First Woman bank
It was the best women and Islamic bank. It was incorporated in 1989. This
bank founder was Benazir Bhutto who is the prime minister of Pakistan in
past. In this bank all management staff is females.
3.Meezan Bank
Meezan bank is also a best bank like UBL. Its net banking is the best and
you can use their account all services by sitting at home. In 2020 this
bank got best Pakistani bank and after their establishment they got 6th
time best Pakistani bank award.
It was the first Islamic bank in Pakistan which establish in 1997. This
bank works according Islamic rules and regulations. It was the 5th biggest
bank in Pakistan and 600 branches with in all cities of Pakistan and
headquarter in Karachi. This bank does work at international level in
Bahrain, Bangladesh, Afghanistan and UAE.
This bank has three types of accounts which are current account, saving
account and Karbhari Munafa account. It has different products which are
accounts opening, online net banking, debit and credit card, insurance and
give car, mobile and different electronic instruments at lease. ljarah car
is the best interest free car given by Meezan bank.
4.Faysal bank
Faysal bank is the best Islamic and commercial bank. Faysal bank was
established in 1994 and provide their financial services to their
customers. This bank has 350 branches and more than 4000 employees in all
over the cities of Pakistan. This bank gives loan to business
entrepreneurs and industrialist to purchase raw material and
machinery.
Microfinance bank
Microfinance bank is a bank which gives loan to needy persons, business
entrepreneurs, industries and agricultural sectors. We write a separate
article on Microfinance bank in detail you can read this and two important
microfinance banks are discussed here.
1.Zarai Taraqiati bank limited (ZTBL)
Zarai Taraqiati bank limited was incorporated in 2002and provide their
services in all over the cities of Pakistan. This bank provides
agricultural loans and banking services. It was the best bank for formers
to take loan for agricultural purposes.
2.Industrial development bank
Industrial development bank was owned by Khyber pakhtun khan government
province and this bank gives loans for industrial developments. This bank
was established in 1991 and it has 150 branches in all over the Pakistan.
This banking provides all banking services to their customers.
FAQ (Frequently Asked Question)
FAQ 1 : Which bank is best for opening an account?
For account opening and deposits UBL and Meezan is the best, no any cutting is doing from your deposits.
FAQ 2 : Which bank is best for Foreign Currency in Pakistan?
UBL is the best for foreign currency, foreign remittance and currency conversion because it has no any charges or nominal charges.
FAQ 3 : Which Pakistani bank is international?
Standard Chartered bank is the international bank which gives their best services in Pakistan.
FAQ 4 : What are the most popular banks in Pakistan?
• UBL • HBL • MCB • Meezan • Allied • ALFLAH
FAQ 5 : Which bank is best in Pakistan 2020?
In 2020 Meezan bank got a Pakistan best bank.
Conclusion
In this article we give you detail about different government, Islamic
and commercial and Microfinance banks which working in all over the cities
of Pakistan and their services and history. The question which all peoples
are asking which bank is best for their services and their accounts, then
according my experience and research UBL and Meezan bank. These banks
provide all banking services and in best why.
Please share this precious information with your family, friends and
their loved ones so that they can be facilitate this information. For any
query, or need any extra guidance then visit our website, leave a comment
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