Home » Businesses » Banks and Finance » Bank Al Habib Limited

Bank Al Habib Limited

0.0
Mackinnons Building, I.I. Chundrigar Road, Karachi , Karachi,72500, Pakistan
Detailed Information

Dawood Habib Group, the sponsor of Bank AL Habib Limited has a long track record in banking that dates back to the 1920s. The Group was among the founder members of Habib Bank Limited and played a major role in meeting the financial and banking needs of Pakistan. It was nationalized along with other Banks in Pakistan on January 1, 1974. Under the subsequent privatization policy of Government of Pakistan, Dawood Habib Group was granted permission to set up a commercial bank.

Bank AL Habib was incorporated as a Public Limited Company in October 1991 and started banking operations in 1992. The Late Hamid D. Habib, grandson of the founder of Habib Group, was the first Chairman of Bank AL Habib Limited. He was the Director in Habib Bank Limited from 1954 and its Chairman from 1971 until its nationalization.

After the death of Mr. Hamid D. Habib in May 2000, Mr. Ali Raza D. Habib, who was Director on the Board, he was appointed the Chairman of the Bank, a position he continued to hold till October 2016. The Late Rashid D. Habib, who was the Managing Director of Habib Bank Limited from 1953 till it’s nationalization, was appointed as the Managing Director & Chief Executive of Bank AL Habib Limited until he passed away in 1994.

After his demise, Mr. Abbas D. Habib, the Joint Managing Director and a close associate of Bank AL Habib since its inception in 1991, was appointed as the Managing Director and the Chief Executive of the Bank. He currently holds the prestigious position of Chairman of the Board of Directors while Mr. Mansoor A. Khan has been appointed as Chief Executive effective November 1, 2016

In a short span of 28 years, the Bank’s assets have grown to more than PKR 1 trillion, with a network of 850 branches and sub-branches, a Wholesale Branch in the Kingdom of Bahrain, Seychelles and Malaysia and Representative Offices in Dubai, Istanbul, Beijing and Kenya.