UK lender has racked up more than £2.7bn of cumulative losses over past five years
- HBL’s retail banking business continues to be a growth driver with its strong financial performance in 2019
- Technology remains a key enabler for the bank in serving its retail customers and pushing for financial inclusion in Pakistan
- The bank is working with the Pakistani government to deliver the Ehsaas Emergency Cash programme in response to COVID-19
Singapore, 5 June 2020 — Habib Bank Limited (HBL) received Best Retail Bank in Pakistan award at The Asian Banker International Excellence in Retail Financial Awards 2020.
HBL’s retail banking business continues to be a growth driver with its strong financial performance in 2019
The bank was able to capture market opportunities and increase its retail banking revenue by more than 20% in 2019. Its balance sheet also grew as retail deposits and retail loan portfolio both increased by a double-digit rate. HBL maintained a deposit market share of around 14%, adding nearly one million new customers through its extensive network.
In addition, HBL upheld its leadership in personal loans, which remain the largest component of the bank’s consumer portfolio. Notably, the bank saw a double-digit growth in car financing despite a slum in the automobile market.
Technology remains a key enabler for the bank in serving its retail customers and pushing for financial inclusion in Pakistan
HBL continued to expand more services and products on its digital platforms. Following the introduction of personal loans on HBL Mobile in 2018, it became the first Pakistani bank to offer credit cards on its mobile app. The paperless process brings turnaround time for card application to less than a day. In just four months since it was launched in September 2019, 9,000 cards have been issued via this channel. Moreover, technology enabled the bank to reach areas beyond its physical footprint and tap the unbanked. Through its HBL Konnect platform, the bank was able to onboard around five million women accounts as of end of 2019.
The bank is working with the Pakistani government to deliver the Ehsaas Emergency Cash programme in response to COVID-19
HBL partnered with the government in disbursing $550 million (PKR 90 billion) to an estimated 7.5 million people affected by the COVID-19 outbreak in the country. The Ehsaas Emergency Cash programme is the largest social safety net initiative in Pakistan’s history.
About The Asian Banker International
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/
For further information on the collaterals for winning banks, please contact:
Mr. Mobasher Zein Kazmi
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