Bank Al Habib Overtakes Bank Alfalah to Become the 6th Largest Bank in Pakistan

Bank Al Habib has beaten Bank Alfalah in branch network size becoming the sixth largest bank in Pakistan in terms of market presence. According to the official numbers, Bank Al Habib expanded its branches network to 705 locations throughout the country and different foreign markets by the end of third quarter 2018. It is operating with a network of 705 offices, comprising 600 conventional banking branches, 62 Islamic banking branches, 36 sub-branches, 3 overseas branches, and 4 representative offices. ALSO READ Pakistani Banks Are Refusing to Accept Wire Transfers from Payment Gateways The bank has been aggressive in increasing its branch network to gear up its penetration throughout the country. It expanded its presence through sub-branches in metropolis cities especially in shopping centers and commercial areas. Besides, the bank’s presence in foreign countries is also comparatively better than its competitor Bank Alfalah. It has a wholesale branch in the Kingdom of Bahrain, Seychelles and Malaysia and representative offices in Dubai, Istanbul, Beijing, and Nairobi (Kenya). The bank assets grew to Rs. 750 billion by the end of September 2018. On the other hand, Bank Alfalah is operating with 662 offices including 478 conventional banking branches, 152 Islamic banking branches, 22 sub-branches, and 10 overseas branches. It has 7 branches in Bangladesh, one in Bahrain, Dubai, and Afghanistan each. The expansion of bank branches has been a little sluggish during the current calendar year, however, the bank assets’ value stood at Rs. 804 billion by the end of September 2018 showing its efficiency in cost-management and business growth. While these two banks are sixth and seventh biggest banks operating with 705 branches and 662 branches within the country and overseas, the five largest banks are operating more than 1,000 branches within the country and abroad with a few banks having their presence at more than 1,500 locations. These banks include Habib Bank Limited, United Bank Limited, MCB Bank, National Bank of Pakistan and Allied Bank Limited.