​The agreement was signed by Syed Faraz Javed, General Manager, Digital Financial Services – NIFT (sitting 1st from left), and Ghulam Habibuddin Khan, Head of Product Ecommerce Aggregators – HBL (sitting 2nd from left). Haider Wahab, CEO - NIFT, Kamran Jaffery, Head of Digital Channels and Solutions – HBL, along with senior members from both organizations were also present at the occasion.

​Karachi, Pakistan – 27 October 2022:

​HBL and NIFT ePay have joined hands to accelerate digital payments in Pakistan. Through this partnership, HBL customers will enjoy the benefits of making digital payments to more than 400 NIFT ePay partner institutions and merchants using their HBL bank accounts. Similarly, the customers of other NIFT ePay partner banks will be able to make Digital Payments to HBL merchants thus creating an expanded enabling environment.

This initiative will contribute substantially towards the uptake of digital payments in Pakistan and enable people to perform secure online purchases using their bank accounts. It will expand the pool of pre-paid customers for merchants, creating a win-win scenario for everyone.

​As Pakistan’s e-commerce industry grows, HBL continues to partner with Fintechs that offer secure, quick, and convenient digital payment solutions. The strategic partnership between HBL and NIFT ePay will propel Pakistan’s payment ecosystem, meet the growing need for convenient and secure online payment options on e-commerce platforms, and add another layer of ease to the online shopping experience.

Commenting on the partnership, Kamran Jaffery, Head of Digital Channels and Solutions - HBL said, “As a technology company with a banking license, we strive to empower our clients through our suite of digital payment solutions. This partnership with NIFT ePay, enables clients with yet another option to make payments to merchants directly from their bank accounts. We believe this will fuel growth in online purchases, expanding the digital eco system of the country”

​Commenting on the partnership, Haider Wahab, CEO - NIFT, said, “We are delighted to collaborate with HBL for expanding the usage of Digital Financial Services in Pakistan. This collaboration will enable millions of HBL customers to make digital payments to a variety of NIFT ePay merchants. Digital connectivity, convenience, and security have always been at the forefront of NIFT ePay’s vision, and by partnering with HBL, we can reach to masses and facilitate them in making Digital Payments securely. Congratulations to teams of HBL, TPS and NIFT in ensuring smooth and early integration and enablement of services.”

​To learn more about how NIFT ePay is empowering businesses and consumers, click here

About HBL

​HBL was the first Pakistani commercial bank to be established in Pakistan in 1947. Over the years, HBL has grown its branch network and maintained its position as the largest private sector bank in Pakistan with 1700+ branches, 2200+ ATMs, 61,000+ Konnect by HBL agents (branchless banking platform), 52,000+ QR locations serving over 32 million clients worldwide. It is currently the largest Domestic Bank with a presence across major trade zones in the world. The Bank is recognized as the leading financial institution of the country for its client-centric innovation in financial services.

*These numbers are as of 30 September 2022.

About NIFT ePay

NIFT ePay is a Digital Payment Service Provider (PSO/PSP), approved and licensed by the State Bank of Pakistan (SBP). It is one of the leading e-commerce and online payment gateways with more than 400 merchants and businesses. It is a one-stop shop for all types of digital payments allowing customers to conveniently and securely pay using bank accounts, credit/debit cards, and wallets.

​Muhammad Aurangzeb, President & CEO - HBL (4th from left) receiving the award for ‘Best Bank 2022’ on behalf of HBL from Jameel Ahmad, Governor - State Bank of Pakistan (3rd from left) at the Pakistan Banking Awards 2022.

​Karachi, Pakistan – 9 December 2022:

​HBL wins Pakistan’s Best Bank award 2022 at the Pakistan Banking Awards held in Karachi on 9 December 2022. The Best Bank award recognizes the bank that has demonstrated the most significant contribution to national development and the most effective management of its resources including their employees, clients, franchise, community, and financials.

The Institute of Bankers Pakistan (IBP) in partnership with The DAWN Media and A.F. Ferguson & Co. annually come together to conduct the Pakistan Banking Awards. This year the Awards were adjudged by a 5-member jury of experts comprising of Syed Salim Raza, Former Governor - State Bank of Pakistan, Naved A. Khan, Former President / CEO - Faysal Bank Limited, Dr. Zeelaf Munir, MD & CEO - English Biscuit Manufacturers (Pvt.) Ltd., Javed Kureishi – Former MD Citibank and Shehzad Naqvi, Former Regional Head - Citibank Middle East and Pakistan.

​Jameel Ahmad, Governor - State Bank of Pakistan (SBP) was the Chief Guest at the ceremony. Key stakeholders of Pakistan’s banking and financial fraternities were also present on the occasion.

Commenting on the occasion, Muhammad Aurangzeb, President & CEO - HBL said, “The Best Bank Award 2022 is a testament to the trust and confidence that our clients repose in us. For HBL, client centricity is the bedrock of both our business and culture; together, we succeed. The Bank continues to invest in its people, digital infrastructure, and business expansion, aligned with the key pillars of the Bank’s strategic vision – playing its due role in the economic development of Pakistan.”

The agreement was signed by Ahsan Abbas, Head Global Remittance Business, International Banking– HBL (sitting 1st from left), and Omar Askari, Chief Business Officer – NayaPay (sitting 2nd from left). Khaqan Mohammad Khan, Global Head FI and Remittance Business, International Banking – HBL, and Danish A. Lakhani, CEO – NayaPay, along with other members from both organizations were also present at the occasion.

​Karachi, Pakistan – 16 January 2023:

HBL, the largest and best bank in Pakistan, has partnered with NayaPay to facilitate real-time cross-border transaction flows into Pakistan. clients can now receive foreign remittances through HBL’s partnering money transfer agents (MTOs) directly into their NayaPay account.

NayaPay, a leading E-Money Institution in Pakistan, enables users to open E-money accounts on their smartphones in a few simple steps and take control of their finances. With the strategic partnership between HBL and NayaPay, people across the globe can now remit funds with speed and ease to NayaPay users, who then enjoy the convenience of making all their everyday payments from the comfort of their homes through the NayaPay app and associated Visa debit card.

Khaqan Mohammad Khan, Global Head FI and Remittance Business, International Banking - HBL “HBL empowers its clients with increased choices, thus accelerating the pace at which our economy digitalizes. Our collaboration with NayaPay will directly benefit users, enabling them with a convenient payment solution. HBL continues to innovate and offer digital products and services, that bring convenience to our clients.”

Speaking on the occasion, Danish A. Lakhani, CEO - NayaPay, said: “We are delighted to team up with HBL, which shares our unwavering commitment to deliver an exceptional user experience. With the demand for fast and secure digital payments growing, we look forward to working together to ensure our collective client base has access to convenient and reliable real-time cross-border money transfer facilities.”

About NayaPay

NayaPay, the first E-Money Institution in Pakistan, is a fintech platform empowering underserved consumers and SMBs with better access to financial services.

NayaPay has built a community of students, freelancers, and digital natives for its consumer proposition—a chat-led super app accompanied by free Visa Virtual and physical cards. Any Pakistani citizen can open a NayaPay wallet on their smartphone in minutes and use the app to make everyday payments, send and receive money, split bills, and much more. For entrepreneurs, NayaPay offers access to E-money accounts, universal payment acceptance and powerful financial management tools with an easy-to-open business account and Visa card.

NayaPay is authorized and regulated by the State Bank of Pakistan as an Electronic Money Institution. For more information please visit: www.nayapay.com or follow the company on LinkedIn, Twitter, Facebook, and Instagram.

About HBL

HBL was the first Pakistani commercial bank to be established in Pakistan in 1947. Over the years, HBL has grown its branch network and maintained its position as the largest private sector bank in Pakistan with 1700+ branches, 2200+ ATMs, 61,000+ Konnect by HBL agents (branchless banking platform), 52,000+ QR locations serving over 32 million clients worldwide. It is currently the largest Domestic Bank with a presence across major trade zones in the world. The Bank is recognized as the leading financial institution of the country for its client-centric innovation in financial services.

The agreement was signed by Ejaz Ali Shah, Managing Director - PMEX (sitting 1st from left), and Aamir Kureshi, Head Consumer, Agriculture & SME Banking – HBL (sitting 2nd from left). Senior members from both organizations were also present at the occasion.

​Karachi, Pakistan – 7 February 2023:

HBL and Pakistan Mercantile Exchange (PMEX) signed a Memorandum of Understanding (MoU) to collaboratively create awareness of using the PMEX trading platform for HBL clients.

HBL and PMEX will work together to create awareness amongst the smallholder farmers for the adoption of the Electronic Warehouse Receipt Financing (EWRF) to achieve the broader objective of financial inclusion and poverty alleviation.

Speaking on the occasion, Aamir Kureshi, Head Consumer, Agriculture & SME Banking – HBL, said, “HBL is the market leader in Electronic Warehouse Receipt Financing (EWRF) and has actively partnered with the stakeholders for uptake of EWRF regime in Pakistan. EWRF has been established as the most convenient and cost-effective system of farmer financing against the crop harvest stored under quality warehousing. Through this partnership, we look forward to facilitate the farmers with better market access, price visibility, and transaction settlement.”

Speaking on the occasion, Ejaz Ali Shah, Managing Director - PMEX, said, “We are delighted to enter into a strategic partnership with HBL. We are committed to creating a vibrant, unified national market for indigenous agricultural commodities for ushering in economic growth. Together with HBL, we look forward to working on the propagation of EWR to help farmers achieve greater financial inclusion, avoid distress selling, improve earnings, and facilitate the Government of Pakistan in achieving documentation of trading of agriculture commodities.”

​Karachi, Pakistan – 8 February 2023:

After the successful launch of Islamic Branchless Banking Account, Konnect by HBL further creates convenience for the clients to access their RIBA-free and Shariah-compliant Islamic Account through “Konnect Islamic Debit Card”.

The introduction of this card aims to provide multiple features and benefits such as free cash withdrawal from HBL’s ATM network, safe and convenient contactless payments at multiple Point of Sale (POS) machines, and acceptability at a vast network of POS-enabled merchants nationwide. To receive an Islamic Debit Card, clients can apply online through their Konnect App or by visiting their nearest Konnect agent. This debit card works seamlessly across all ATM locations countrywide in Pakistan.

Commenting on the launch, Aamir Hameed, Head Branchless Banking - HBL, said, “Our Branchless Banking services have been instrumental in reaching the unbanked population in Pakistan. We believe this new offering with several touchpoints, from Mobile App to a vast agent & ATM network, will greatly enhance financial inclusion and provide convenience, especially for women. We understand the need for shariah-compliant services is growing fast and we believe this service will help in meeting that demand.”

​Pakistan, Karachi – 12 February 2023:

​The highly anticipated sporting event, HBLPSL, kicks off today with a match between Multan Sultans taking on Lahore Qalandars in Multan. The tournament matches will be held in Multan, Karachi, Rawalpindi, and Lahore. The final will be played on 19 March 2023 at the Gaddafi Stadium in Lahore.

HBL is about ‘enabling dreams’ and this synchronizes perfectly with HBLPSL’s philosophy to provide an enabling environment for the emerging cricketers of Pakistan. Through HBLPSL, HBL remains committed to playing its part in promoting Pakistan through sports across the world.

Commenting on HBLPSL, Ali Habib, Chief Marketing & Communications Officer – HBL said, “HBLPSL promotes values of healthy competition, teamwork, and sportsmanship, making a positive impact not only on cricket but also on the personal development of young cricketers. HBLPSL’s motto ‘Jahan Fans Wahan Stadium’ is derived from the idea that the game of cricket is where the fans are, whether in the stands or at home.”

The MoU was signed by Ahmed Naazer Minhaj, Head Agriculture Banking – HBL (sitting 2nd from left), and Muhammad Aslam Khan Niazi, Principal – BACQ (sitting second from right). Senior members from both organizations were also present at the occasion.

​Pakistan, Quetta – 13 February 2023:

HBL and Balochistan Agriculture College Quetta (BACQ) signed a Memorandum of Understanding to provide a practical learning experience to the BACQ graduates in the banking industry and create skilled human capital.

As nominated by the State Bank of Pakistan (SBP), HBL is the Champion Bank for Balochistan and is envisioned to improve access to agriculture credit, financial inclusion, and uplifting of the Agri sector and rural communities in the underserved province. Under the sparsely located agriculture pockets and socio-economic conditions, the availability of local resources for banks has been identified as the most important and major challenge in improving financial outreach.

Under this collaboration, BACQ students will be provided training and awareness of agriculture lending, whereby these students will also serve as the pool of skilled resources to meet the future needs of the banking industry.

BACQ is one of the exclusive institutes for agriculture education in the province, established in 1986. The institution is providing quality education through undergraduate and postgraduate programs in various disciplines of agriculture.

​Pakistan, Karachi – 24 February 2023:

HBL today declared a consolidated profit before tax of Rs 77 billion for the year ended December 31, 2022, an increase of 24% over last year. Along with the results, the Bank declared a final dividend of Rs 1.50 per share taking total payout for 2022 to Rs 6.75 per share. Profit after tax however declined by 3% to Rs 34.4 billion, as a result of retrospective taxation and an effective increase of 10% in the income tax rate for banks, from 39% to 49%.

HBL’s balance sheet grew by 7.4% to Rs 4.6 trillion with total deposits at Rs 3.5 trillion. The Bank increased current accounts by over Rs 200 billion and low-cost savings by Rs 136 billion, closing the year with total domestic deposits of Rs 2.9 trillion; the CASA ratio improved to 86.5%. In line with its stated intent of supporting clients through the cycle, HBL continued its supply of credit, growing domestic advances by Rs 241 billion to Rs 1.4 trillion, a growth of more than 20% over 2021. The Bank’s Advances to Deposit Ratio (ADR) rose to 52.9%.

The flagship consumer business, increased lending by Rs 20 billion to Rs 122 billion, while Commercial lending crossed a key milestone of Rs 100 billion. HBL Microfinance also continued to support the most vulnerable, increasing its inclusion efforts and growing loans by 50% to Rs 85 billion.

Net Interest Income increased by 26% to Rs 166 billion, driven by a Rs 540 billion growth in average balance sheet volumes and margin expansion of 81 bps. The Bank continues to retain its leadership in fee income, which posted a double-digit growth of 24% to reach Rs 31.5 billion. Nearly 50% of the growth came from its market leading Cards business, where HBL’s Platinum Card is in constant demand. This helped total non-fund income to rise by 29% to Rs 46.7 billion. Total revenue thus grew by 27% over 2021 to Rs 212 billion, HBL’s highest ever.

HBL’s total administrative expenses were Rs 124.8 billion as persistent inflation and rapidly escalating fuel and utility costs created pressure across all categories. The Bank’s infection ratio improved from 5.1% to an all-time low of 4.8% while provision coverage was prudently maintained at above 100%.

Commenting on the Bank’s performance, Muhammad Aurangzeb, President & CEO - HBL said, “The Bank has delivered excellent results despite the challenging macroeconomic environment. As a testament to our client-centric approach, HBL’s performance was propelled by strong organic growth across all business segments and activity drivers, solidifying our leading position in all client segments. Moreover, HBL is actively working on financial inclusion initiatives supported by significant investments in technology and digitalization. During 2022, HBL remained conscious of its responsibility to support clients and the broader economy.”

Business Developments

HBL’s digital channels continued to play a significant role in shaping Pakistan’s financial landscape in 2022, processing over 310 million financial transactions worth more than Rs 4.3 trillion. Throughput saw a collective growth of over 55%, a testament to our commitment to becoming a ‘Technology Company with a Banking License’.

During the year, Mobile Banking witnessed a growth of 107% YoY. The Bank launched the HBL Islamic Mobile app to provide convenience for clients with Shariah-compliant needs. In another industry first, HBL enabled financial transactions through the HBL WhatsApp banking channel; it continues to grow with a 43% increase in the user base in 2022.

Maintaining its streak of bringing innovative solutions to Pakistan, HBL commercialized the conversion of mobile phones into POS terminals, thus enabling smartphones to accept card-based payments at the time of delivery and revolutionizing the delivery payments process. Through bypassing the need for cash on delivery, merchants get real-time information and 24-hour settlement, thus saving them the hassle of handling cash while freeing up their working capital. For this first-to-market initiative the Bank won – the ‘Best Payments Initiative’ award at the Pakistan Digital Awards and the ‘Point of Sale Initiative for the Year’ at the Asian Retail Finance Awards.

Konnect by HBL has maintained its dominant position in the Branchless Banking space with over 8 million clients; it is a point of pride that women continue to make up 24% of the client base. During the year, HBL launched an Islamic Konnect Account enabling clients in this segment to fulfill all their banking needs in a Shariah-compliant way. This unique product has received widespread acceptance, with over 200,000 accounts opened since launch. Konnect remains the Government’s preferred partner on key initiatives such as the Benazir Income Support Program, and disbursements of emergency relief funds and subsidies.

HBL’s clients’ usage of both debit and credit cards, grew by 71% over last year with spend reaching nearly Rs 300 billion in 2022. HBL’s credit cards remain the most sought-after in the industry, with one in every three Rupees being spent on an HBL Credit Card or on an HBL POS machine.

The Bank made significant strides in Agriculture financing, increasing its portfolio by 27% YoY and surpassing the Rs 50 billion milestone, a new record. HBL was declared the ‘Best Bank in Agriculture’ under the Large Banks category for 2021-22 by SBP, while HBL Microfinance received the same award in the Microfinance Banks segment. As the champion Bank for Balochistan, HBL led the industry with the highest-ever disbursements in the province. HBL also scaled up its agriculture pilot interventions in three districts in Punjab. These covered more than 25,000 acres and resulted in yield enhancements of more than 14%.

HBL Prestige, the Bank’s exclusive proposition for high-net-worth clients went international with the inauguration of its first lounge in Dubai. In Pakistan, the Prestige presence now extends to 38 lounges across 16 cities.

HBL continued to reinforce its leadership position across its multiple business areas. It became the first Bank to cross 100,000 RDA accounts, with over USD 900 million channeled into the country. In cash management, the Bank maintained its dominant position, increasing throughput by 56% to Rs 12.3 trillion. HBL remains the “go-to” bank for Investment Banking transactions and closed deals valued at over Rs 200 billion in 2022. The Bank also advised and closed Pakistan’s first and largest hybrid REIT issuance.

HBL’s International Banking returned to operating profitability this year despite high volatility and a challenging macroeconomic environment in our markets. This performance will provide the impetus for growth in 2023.

Environment Social Governance (ESG)

HBL announced its commitment to Net Zero by 2030 in line with AKDN’s own targets. To reduce the impact of the Bank’s own operations, solar panels were installed at several premises leading to a reduction of 288 metric tons in HBL’s carbon footprint. The Bank also undertook a nationwide Tree Plantation Drive under which more than 25,000 trees were planted across nine locations in Pakistan. HBL has also worked extensively with Tsinghua University in China on developing a Green Taxonomy Framework and this was formally rolled out in 2022.

Bank with a Soul

After several ground-breaking initiatives to support its staff during COVID-19, HBL this year raised the staff service age to 65, another industry first. In the prevailing socio-economic environment, this is a game-changer for many of our senior staff who have years of valuable experience, giving them the ability to both continue contributing to the Bank as well as maintain a standard of living for themselves and their families. In the wake of the floods, the Bank, through the HBL Foundation, facilitated the on-ground distribution of rations worth Rs 100 million, providing more than 1 million meals to over 14,000 families. Additionally, 3,100 tents and 400 mosquito nets were distributed in flood-affected areas across Balochistan and Sindh. HBL also donated Rs 128 million to support the impacted population in affected areas by sponsoring the construction of prefabricated homes.

Awards & Accolades

HBL won the ‘Best Bank in Pakistan’ from Euromoney Awards for Excellence 2022 and the ‘Best Domestic Bank Award 2022’ by Asiamoney. At the Pakistan Banking Awards, HBL was adjudged ‘Pakistan’s Best Bank’ and ‘Best Bank for Agriculture Financing’ while HBL Microfinance Bank was awarded the ‘Best Microfinance Bank’. HBL was awarded the ‘Best Investment Bank in Pakistan’ by World Finance Awards 2022.

HBL won ‘The Most Inclusive Organization 2022’ Award by the Global Diversity, Equity, and Inclusion Benchmarks (GDEIB).

The Bank remains committed to raise the bar of excellence in service and product innovation in 2023 and beyond.

Khaqan Muhammad Khan, Global Head Financial Institutions and Remittance Business – HBL, Dr. Sonu Khangharani, CEO – Thardeep Microfinance Foundation and Musharraf Khan, CEO – Damen Support Program signed the agreement. Senior officials from all three organizations were also present on the occasion.

​Pakistan, Karachi – 17 April 2023:

HBL, Damen Support Program, and Thardeep Microfinance Foundation have joined hands to offer interest-free financing to individuals and small businesses under the Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYB&ALS).

Speaking on the occasion, Khaqan Muhammad Khan, Global Head Financial Institutions and Remittance Business – HBL, said, “The Bank is committed to promoting financial inclusion and poverty alleviation. The partnership between HBL, Damen Support Program, and Thardeep Microfinance Foundation under the PMYB&ALS scheme would play a crucial role in uplifting the lives of thousands of people.”

Dr. Sonu Khangharani, CEO – Thardeep Microfinance Foundation, said, “The partnership with HBL will be instrumental in advancing our mission of promoting financial inclusion and will empower individuals from marginalized segments of society to realize their entrepreneurial dreams.”

Musharraf Khan, CEO – Damen Support Program, said, “Amidst inflationary pressures, interest-free financing is a boon that small businesses and individual entrepreneurs could take advantage of. The partnership with HBL had previously delivered successful financial inclusion projects and this scheme would provide another opportunity to support small businesses and entrepreneurs in need of financing.”