| Habib Group
has al long track record of
banking which dates back to
1920’s. They were the
sponsors and founder members
of Habib Bank Limited.
After nearly
18 years of nationalization
of banks in Pakistan, the government
of Pakistan again decided in
1991 to allow the private sector
to establish commercial banks
in the country. It was under
this privatization policy that
HABIB GROUP was the first to
be granted permission by the
Government of Pakistan to setup
a commercial bank. It was in
October 1991, that BANK AL HABIB
was incorporated as a public
limited company and was quoted
on the Stock Exchange and started
full-fledged operation as a
scheduled bank in January 1992
and also became a member of
the Clearing House.
(Late) Hamid
D. Habib, grandson of the founder
of Habib Group, was the Chairman
of Bank AL Habib Limited since
inception. He was also a Director
in Habib Bank Limited way back
in 1954. He held senior positions
in the Government of Pakistan,
including Chairman, Export Promotion
Bureau, Special Advisor to the
President of Pakistan on Finance,
Economics, and External Trade
Affairs, with the rank of a
Federal Minister. (Late) Rashid
D. Habib, who was the Managing
Director of Habib Bank in 1953
till its nationalization, was
appointed as the Managing Director
& Chief Executive of Bank
AL Habib Limited which post
he held till he expired in 1994.
The Bank introduced many innovative
schemes like evening banking,
school banking, children’s
saving scheme, computerized
banking, credit cards and travelers
cheques.
The Bank has
achieved satisfactory progress
in all the spheres of banking
activities and is considered
to be one of the leading banks
operating in the private sector.
The Bank has been rated as “AA”
for long-term rating and “A1+”
for short-term rating by Messrs.
PACRA an affiliate of Messrs.
FITCH Ratings Limited, London.
The Bank has
a network of seventy branches
in all the major cities of Pakistan,
which are fully automated and
computerized, and provide a
complete range of banking services.
The Bank’s deposits, advances,
profits, foreign trade business,
investments and shareholders
equity have shown a tremendous
growth over a decade since its
inception.
The Habib
Group banking and finance services
spread over three continents
through the operation of the
following banks:
The group’s
philosophy is firmly based on
two essential principles, efficiency
and Security. We believe that
our prime responsibility is
to serve our depositors and
we are conscious of the trust
reposed in us. It is our duty
to protect and honor it at all
times.
Habib Overseas Bank
Limited
On 23 August
1990, permission was granted
by the South Africa Reserve
Bank to open a bank in South
Africa. The bank commenced operations
on 5th December 1990 as Overseas
Bank of Africa Limited at 78
Fox Street, Johannesburg, 2001
with an authorized capital of
R 25 M and paid-up capital of
R 10 M. On 6th May 1991, the
bank became a full member of
the Clearing House and started
issuing its own cheque books.
On 4 May 1992 the bank formally
changed its name to Habib Overseas
Bank Limited.
Habibsons Bank Ltd.,
London
Commenced
operations in London in 1984
under the name of Habibsons
Trust and Finance Limited. This
name was changed to Habibsons
Bank Limited in 1988 on receiving
Authorized Status under the
1987 Banking Act. In January
1990, permission was received
from the Swiss authorities to
open a branch in Zurich, Switzerland,
which commenced operations in
July 1990. The authorized capital
of Habibsons Bank is Pounds
Stg. 12 Million, of which Pounds
Stg. 6.5 Million is paid up.
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