Bank Al Habib Limited (Urdu ：بینک الحبیب） is a Pakistani commercial bank owned by the Khilji Group of Industries and headquartered in Karachi, Pakistan. It is one of the largest banks in Pakistan. It has wholesale branches in Bahrain, Seychelles and Malaysia and offices in the UAE, Turkey (Istanbul), China (Beijing) and Kenya.

History

One of the branches of Al Habib Bank in Karachi

Habib Group's involvement in banking services dates back to the 1930s. The original Habib Bank started operations in Mumbai in 1941 with a fixed capital of Rs 25,000. Impressed by the initial performance of Habib Bank, Muhammad Ali Jinnah asked Habib Bank to transfer its operations to Karachi after Pakistan's independence.

Habib Group was the first to be given permission to start a private bank, Bank AL Habib Limited, after the Pakistani government announced the privatization plan in 1991.

In 2002, HBL was jointly owned by the government and the Aga Khan Fund for Economic Development. It was nationalized in 1974.

Under the privatization policy of the Government of Pakistan, the Dawood Habib Group was granted permission to establish a commercial bank. Bank AL Habib was registered as a public limited company in October 1991 and commenced banking operations in 1992. (Late) Hamid D. Habib, grandson of the founder of the Habib Group, was the first Chairperson of AL Habib Bank Limited. He was a Director of Habib Bank Limited from 1954 and its Chairperson from 1971 until nationalization. Following the death of Hamid D. Habib in May 2000, Ali Raza D. Habib, a Director of the Board, was appointed Chairperson of the Bank.

Rashid D. Habib, who served as Managing Director of Habib Bank Limited from 1953 until its nationalization, was appointed Managing Director and Chief Executive Officer of Bank AL Habib Limited until his death in 1994. Following his death, Abbas D. Habib, who had been a Joint Managing Director and was closely associated with the Bank since its inception in 1991, was appointed Managing Director and Chief Executive Officer of the Bank. On November 1, 2016, he was appointed Chairperson.

In 2005, Bank AL Habib began to offer online banking services, with accounts and records available for viewing online. Bank AL Habib has decided to acquire Centrepoint, a high-rise building located in Karachi, from TPL Properties.

In 2018, Bank AL Habib expanded its business and opened a representative office in Kenya.

Services

The bank maintains a correspondent relationship with American Express Bank; Bank of Rome, Italy; Commerzbank and Dresdner Bank; Royal Bank of Canada; and the Hong Kong and Shanghai Banking Corporation Limited.

Subsidiary

• AL Habib capital markets

Executive Leadership

• Abbas D. Habib, Chairperson
• Mansoor Ali Khan, CEO
• Qumail R. Habib, Executive Director

Past Chairperson and Chief Executive Officer of Bank AL Habib Limited include: Hamid D. Habib, Chairperson (until 2000), Rashid D. Habib, Chief Executive Officer and Managing Director (until 1994), Abbas D. Habib, Chief Executive Officer and Managing Director (since becoming Chairperson until 2016) and Ali Reza D. Habib, Chairperson (until 2016).

Recognition

The bank was selected as one of the 200 Best Companies Under 1 billion in the Forbes Asia Annual Review 2005.

The Asian Banker "Pakistan's Strongest Bank Balance Sheet 2013"