Meezan Bank bags its 6th ‘Best Bank’ award
• Bank of Punjab wins three awards; HBL wins ESG award • SBP chief calls for faster banking digitisation, higher private sector credit KARACHI: Meezan Bank Ltd was named Pakistan’s best bank for the sixth time at the 11th Pakistan Banking Awards held in Karachi on Friday, while Bank of Punjab secured honours in three categories. Jury Chairperson Zubyr Soomro, explaining the challenges involved in…
Meezan Bank has been awarded Pakistan's top banking institution for a record sixth time at the 11th Pakistan Banking Awards, which took place in Karachi on Friday. Bank of Punjab achieved success in three categories, while Habib Bank Ltd was recognized for its Environmental, Social and Governance (ESG) initiatives. Bank Alfalah claimed the Digital Excellence Award, and Faisal Bank Ltd and Askari Bank shared the Best Mid-Sized Bank accolade.
The Best Contribution by a Non-Bank Entity was awarded to Pakistan Microfinance Investment Company Ltd, and ASA Microfinance Bank Ltd was named the Best Microfinance Bank.
SBP Governor Jameel Ahmad addressed the awards ceremony, discussing the current economic conditions and challenges stemming from regional conflicts. He expressed optimism about the banking sector's potential to boost private-sector credit penetration, which currently stands at 50% in comparison to Bangladesh. Ahmad emphasized the need for accelerated digitization throughout the banking industry and stressed that the government's financing requirements would decrease, allowing banks to play a more significant role in addressing the country's financial needs.
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