Karachi, 02 July 2025:

Pakistan's manufacturing sector showed signs of cooling as the HBL Manufacturing Purchasing Managers’ Index (PMI) slipped to a 10-month low of 50.5 in June, down from 51.1 in the previous month.

While the reading remained above the no-change threshold of 50 for the 14th consecutive month, it signaled a notable slowdown in momentum due to weakness in new order volumes. This was the first instance of consecutive new order contractions.

To align with softer production needs, firms proactively reduced both employment levels and input procurement. Despite the slowdown, there were encouraging developments on the export front.

Commenting on the report, Humaira Qamar, Head Equities & Research – HBL said, “After hitting a 10-month low last month as per the Central Bank, exports showed signs of revival. New export orders rose for the first time in three months, with manufacturers attributing the rebound to improved quality standards.”

Manufacturers also reported greater control over outstanding workloads. Work Backlogs declined for the sixth straight month, underlining the ongoing softness in demand.

Looking ahead, optimism remains cautiously intact, as the Future Output Index continued to trend well above neutral, pointing to expectations of stronger activity in the year ahead. However, sentiment dipped for a second month in a row, weighed down by concerns over increasing taxation and geopolitical uncertainty.

Qamar pointed out that the current PMI levels suggest a slower pace of GDP growth than PBS estimates. She further stated, “We believe the current PMI readings imply a GDP growth rate lower than the provisionally estimated 2.7% for FY25, seeing potential for downward revisions. Furthermore, the Ministry of Finance’s 4.2% GDP growth assumption in formulating the FY26 budget appears optimistic in our view, raising the risk of revenue underperformance.”

Pakistan, Karachi – 18 July 2025: Euromoney Awards for Excellence 2025 has awarded HBL the accolade of ‘Pakistan's Best Bank’. The Bank has also won ‘Pakistan's Best Bank for Large Corporates’ and ‘Pakistan's Best Investment Bank’.

Euromoney is a global English-language publication focused on business and finance. These awards are the most prestigious recognition in the banking industry, globally.

The Euromoney citation acknowledges that “HBL remains an undisputed leader as Pakistan’s best bank, demonstrating once again standout financial growth and continuous improvement in the digital space.”

The citation went on to note, “HBL remains one of the key players in Pakistan’s agriculture sector, a vital part of the country’s economy, highlighting the Bank’s commitment to the economic development of Pakistan.”

Commenting on the recognition, Muhammad Nassir Salim, President & CEO – HBL said, “HBL is proud to serve its valued clients who have made these wins possible. These wins are a tribute to our millions of clients’ continued trust and confidence in HBL.”

Professor Dr. Fazl A Khalid (SI), Rector - GIKI (standing 2^nd from left) and Muhammad Nassir Salim, President & CEO – HBL (standing 3^rd from left) along with the senior leadership teams from both the organizations attended the meeting.

Pakistan, Topi (KPK) – 23 July 2025: The Ghulam Ishaq Khan Institute of Engineering Sciences and Technology (GIKI) hosted a high-level delegation from HBL led by Muhammad Nassir Salim, President & CEO – HBL. The visit marked a pivotal step towards academia-industry collaboration to shape Pakistan’s digital future.

During the strategic dialogue, HBL’s leadership expressed keen interest in innovation-led growth, talent development, and collaborative R&D initiatives. Key focus areas for the discussion were emerging technologies such as Blockchain, Cybersecurity, IP Sharing frameworks, Electric Vehicles (EVs), Spectral Analytics, and AgriTech.

Muhammad Nassir Salim, President & CEO – HBL, emphasized the need for job-ready graduates and proposed co-creating curricula with GIKI to bridge the skill gap. Internship programs, real-world problem statements, and potential faculty attachments with HBL were also discussed.

Rector GIKI Professor Dr. Fazl A Khalid (SI) highlighted GIKI’s achievements in sustainable energy, robotics, AR/VR, and EV research through industry collaborations. He invited HBL to participate in Full Stack Development Bootcamps and proposed that the Bank support in the form of scholarships, interest-free loans, and endowment funds for expanding student facilities.

Pakistan, Karachi – 31 July 2025:

HBL today declared a record consolidated profit before tax of Rs 75.3 billion for the half year ended June 30, 2025, 30% higher than in the same period last year. The profit after tax increased 19% to Rs 34.4 billion despite a 4% higher tax rate further burdening banks. EPS for H1’25 improved from Rs 20.18 in H1’24 to Rs 23.44. Along with the results, the Bank declared an Interim Cash Dividend for the second quarter ended June 30, 2025, at Rs 4.50/- per share i.e., 45.00%. This is in addition to the interim Cash Dividend already paid at Rs 4.50/- per share i.e., 45.00%.

HBL’s balance sheet grew 26% to Rs 7.6 trillion. Total deposits increased 19% over Dec’24 to Rs 5.2 trillion, making HBL the first bank to cross Rs 5 trillion mark in deposits. Domestic deposits increased by 22% to Rs 4.4 trillion, as the Bank’s focus on current account mobilization led to a growth of Rs 440 billion in current accounts; this also helped to drive the CA mix to over 40% while maintaining the CASA ratio at 89%. HBL’s loan book reached nearly Rs 2.0 trillion as domestic advances recovered during the quarter. The Bank’s flagship Consumer business continued its steady but solid growth trajectory, reaching Rs 156 billion.

Despite continued monetary easing in the first half of 2025, HBL’s net interest income increased 12% to Rs 138 billion. This was supported by an increase of Rs 425 billion in the average balance sheet, and lower deposit cost from the improved current account mix which enabled HBL to keep margins intact. Non-fund income increased by 12% to Rs 44 billion, driven by an exceptional Treasury performance and double-digit growth in the Bancassurance, Consumer Finance and Investment Banking businesses. HBL’s total revenue thus increased to Rs 182 billion.

Proactive cost optimizing initiatives across the Bank contained the YoY expense growth at 8%, driving a reduction of more than 200 bps in the cost/income ratio to 55.2% in H1’25. A strong recovery performance resulted in a decrease in the Bank’s non-performing loans over the quarter; along with the uptick in advances, this reduced the infection ratio to 5.0%. The specific coverage strengthened to 90%, with the total coverage well above 100%. The Tier 1 Capital Adequacy Ratio (CAR) of 14.16% and the Total CAR of 17.91% remained well above the required levels.

Commenting on the Bank’s performance, Muhammad Nassir Salim, President & CEO – HBL, said, "The Bank has delivered healthy results in the first half of 2025, driven by strong organic growth and a steadfast commitment to excellence for our clients. As we accelerate our critical role in national development, we remain optimistic about the future. While the macroeconomic environment presents its challenges, we are encouraged by signs of greater stability. Looking ahead, ‘Accelerating Topline Growth’ will be our guiding mantra as we build on this momentum and create lasting value for all our stakeholders."

Delivering value for stakeholders

HBL continued to demonstrate its leadership in Agri Financing, by helping farmers maintain their incomes and contribute to national food security. The Bank issued the largest payout of over PKR 10 million under the Area Yield Index Insurance (AYII) program to support farmers by providing financial protection against yield losses. This initiative benefits farmers in Balochistan and Sindh. Moreover, the Bank provide farmers with Agri-finance options, advanced agronomy practices, and efficient farm management techniques through ‘Agahi Programs’ at the Dera of HBL Zarai. Since 2018, over 30,000 farmers have benefited from the program.

HBL is taking a significant step towards enhancing financial inclusion and gender equity by supporting the Women Entrepreneurs (WE) Finance Code. The WE Finance Code is a multi-stakeholder effort to increase financing to women-owned, micro, small and medium enterprises. While much more still needs to be done in this aspect, since 2024, the Bank has supported over 450 women entrepreneurs with Rs 2.6 billion in financing. Additionally, HBL Group serves more than 5 million women — the largest footprint among commercial banks in Pakistan.

HBL Group remains firmly committed to supporting global sustainability efforts. The Bank participated in the London Climate Action Week (LCAW) held in London, UK to discuss investment vehicles designed to achieve gender equity and climate resilience. HBL has launched an investment initiative, a USD 75 million Climate Resilience Facility, in partnership with British International Investment (BII) in 2025. HBL MicroFinance Bank entered into a strategic partnership with the International Finance Corporation (IFC) under the Global Agriculture and Food Security Program (GAFSP), securing USD 80 million to promote climate-smart lending that boosts rural resilience, enhances agricultural productivity, and addresses climate risks across Pakistan.

In H1 2025, HBL Foundation contributed Rs. 273 million across various sectors, including healthcare, education, community development, and humanitarian assistance.

Embracing cutting-edge technology, the Bank ventured into Artificial Intelligence (AI) driven platforms to engage with the youth. FanTunes, a groundbreaking fan engagement initiative was launched for the first time in Pakistan allowing fans to create their own unique HBLPSL songs using AI. More than 25,000 videos were created by fans during the HBLPSL event.

In recognition of the Bank’s leadership, performance, and innovative approach, HBL has been honored with 22 prestigious accolades in H1 2025, including ‘Best Bank in Pakistan’, ‘Pakistan's Best Bank for Large Corporates’, ‘Pakistan’s Best Investment Bank’ by Euromoney Awards 2025, and ‘Best Mobile App’ by Pakistan Digital Awards 2025.

Pakistan, Karachi – 01 August 2025:

The HBL Pakistan Manufacturing Index (PMI) remained unchanged at 50.5, mirroring the modest expansion seen in June’s 10-month low. The PMI is compiled by the renowned financial analytics firm S&P Global and is widely used among analysts as a leading indicator to assess the state of the economy.

Factory output rose at a slightly improved rate in July, primarily due to the completion of existing orders while new orders continued to slide for the third straight month. Survey participants attributed the subdued order flow to rising costs of raw materials, energy, and taxation.

New orders were also weighed down by a decrease in fresh export orders, marking the third decline in the last four months. This aligns with SBP data indicating a 9% QoQ decline in exports in the second quarter of the year. Manufacturers cited muted global demand and elevated tax burdens as key factors.

Work backlogs depleted at a faster rate and were down for the seventh consecutive month amid lackluster demand and order completion. As a result, employment contracted for the second month running, with firms scaling down staffing due to lighter workloads and cost management strategies.

Kumail Chevelwalla, Team Lead, Equities & Research – HBL, commented on the latest release saying “Despite these headwinds, business confidence strengthened, reaching a three-month high, driven by optimism around improving macroeconomic and geopolitical conditions, coupled with expansion initiatives and product rollouts. While the monetary easing cycle began more than four quarters ago, the anticipated impact of policy rate cuts has yet to be manifested in the industrial sector, with LSM contracting 1.2% in the eleven months of fiscal year 2025. However, we expect strong business confidence, further rate reductions and better consumer spending power to bode well for the real economy in the medium-term.”

28 August 2025, Karachi: HBL has joined hands with Mastercard in launching its Business Debit Card designed exclusively for SMEs - sole proprietors and entrepreneurs. Two card variants have been launched, Classic and World Business Debit Card. This initiative marks a major stride in the Bank’s commitment to enable Pakistan’s businesses with innovative financial solutions and accelerating the shift towards a cashless Pakistan economy.

With over 5 million SMEs contributing nearly 40% to the national GDP and employing one-third of the country’s workforce, the need for sustained investment into the SME sector is essential for Pakistan’s economic prosperity. HBL has played a leading role in enabling this segment by becoming the first bank to surpass PKR 100 billion in SME lending. HBL also remains the pioneer of non-collateralized lending and ensuring increased access of credit to SMEs. The Bank remains committed in empowering SMEs with financing solutions and contributing directly to Pakistan’s GDP.

The Business Debit Card is a payment solution which ensures that SMEs can manage their day-to-day transactions, in a more seamless and convenient manner. HBL remains the largest issuer of debit cards in Pakistan, and the launch of the business debit card represents its commitment to financial inclusion and a digitized ecosystem across all customer segments.

The launch event, held at HBL Tower, Karachi, on 27 August 2025, was attended by Muhammad Nassir Salim, President & CEO - HBL, Aamir Kureshi, Head, Products, Transactional Services & Solution Delivery - HBL, and J.K. Khalil, Division President, East Arabia - Mastercard, along with senior leaders from both institutions.

Speaking at the launch Muhammad Nassir Salim, President & CEO – HBL, said:
“The Government of Pakistan and the State Bank continue to emphasize SME growth as a driver of economic stability, innovation, and employment. HBL stands aligned with this vision. By equipping SMEs, sole proprietors, and entrepreneurs with the means to transact securely and seamlessly, HBL is supporting the national agenda of enabling businesses to grow, formalize, and contribute to Pakistan’s economic progress.”

J.K. Khalil, Division President, East Arabia, Mastercard, said:
“Small businesses are the backbone of Pakistan’s economy, and Mastercard and HBL share a commitment to empowering them to grow and thrive. Our latest collaboration aligns with our drive to expand our presence across key business segments in the country while accelerating the adoption of digital transactions. The initiative reinforces our dedication to driving financial inclusion and supports SBP’s vision to digitize SMEs and strengthen economic resilience.”

Aamir Kureshi, Head, Products, Transactional Services & Solution Delivery - HBL, said:
“HBL remains committed to SME lending, given its criticality to Pakistan’s economic progress. Today’s launch of the Business Debit Card represents a natural stride forward extending our support from financing into payment solutions, with fast, convenient and secure transactions leading the drive to a more digitized customer behavior. This initiative reflects our vision of enabling every business to unlock its potential and thrive in a digital-first economy.”

HBL and Mastercard have been partners since 2013, working together to introduce innovative payment solutions in Pakistan. With this launch, both institutions reaffirm their commitment to advancing financial inclusion and enabling businesses to transition confidently towards a cashless future.

Pakistan, Karachi - 01 Sept 2025 – The HBL Pakistan Manufacturing PMI edged down to 50.1 in August from 50.5 in July, the lowest reading since the series began. Compiled by S&P Global, the PMI offers a forward-looking snapshot of industrial activity, with the latest reading signaling near-stagnant operating conditions in August. New orders declined for a fourth consecutive month, with firms attributing the slowdown in new business flow to inflationary pressures and load shedding.

New orders were also weighed down by slackening export orders, which contracted at the sharpest rate in the series’ history. Firms attributed weaker export orders to lackluster global demand and to the impact of U.S. tariffs. While factory output increased at the fastest rate in three months, the uptick was largely due to the completion of existing orders.

The downturn in demand appears to be filtering into the labor market as firms cut back employment for a third consecutive month, the steepest decline in a year. Firms also linked the reduction in staffing to cost control measures. Raw material inventories were down for the first time in three months, reflecting muted input buying against a backdrop of softer demand. At the same time, delivery times continued to lengthen, driven by higher transportation costs as well as disruptions from flooding.

Commenting on the latest PMI report, Humaira Qamar - Head Equities & Research at HBL stated:

“Despite a subdued operating environment, business confidence remained marginally positive, albeit weaker than in July. Optimism was driven by expectations of business expansion, new product launches, and hopes of relief from further cost pressures. However, the survey was largely conducted before the recent heavy floods in the North of the country, and we believe this raises concerns over a fresh bout of price pressures. Businesses are likely to face renewed stress from logistical disruptions and higher costs. In light of the emerging inflationary risks, we believe the State Bank of Pakistan, at its Monetary Policy Committee meeting in September, may once again opt to maintain the Policy Rate at 11.0%.”

Altogether 104 companies were honored, with 37 winners, 58 as runner-up, and 9 receiving special appreciation awards

Lahore, 19 September 2025: Pakistan’s IT Industry Association (P@SHA) hosted its premier industry event, the HBL-P@SHA ICT Awards 2025, to celebrate country’s brightest minds in the field of technology. The Awards, supported by the Trade Development Authority of Pakistan (TDAP), Contour, Systems, and Tech Destination Pakistan, highlighted Pakistan’s most innovative startups, digital solutions, and IT companies that are shaping the future of the country’s digital economy and earning recognition on the global stage.

Addressing the gathering the Chief Guest, Mr. Ahsan Iqbal, Federal Minister for Planning, Development & Special Initiatives, praised the role of Pakistan’s young innovators in driving progress; He said: “The digital economy is no longer a choice, it is the future. What we are witnessing here tonight is proof that Pakistan has the talent, creativity, and determination to lead in this space. Our young entrepreneurs and developers are building solutions not just for Pakistan, but for the world. The government is committed to supporting this ecosystem, so that our innovators can thrive, compete internationally, and contribute to a stronger, knowledge-based economy.”

Sharing his joy on the occasion, Chairman P@SHA Sajjad Mustafa Syed said: “With initiatives such as the HBL-P@SHA ICT Awards, P@SHA not only recognizes and celebrates excellence but also encourages entrepreneurship, promotes inclusivity, and supports the creation of globally competitive companies”.

The Awards continue to play a vital role in recognizing excellence in software, mobile apps, digital services, research and development, e-governance, and other emerging areas. “The 2025 HBL-P@SHA ICT Awards achieved a record milestone with more than 1,600 applications received from across Pakistan, the highest in the history of the Awards. Out of these, 104 companies were honored, with 37 winners, 58 runner-ups, and 9 receiving special appreciation awards.” He further added.

Winners gain valuable exposure and the opportunity to represent Pakistan at the Asia Pacific ICT Alliance (APICTA) Awards, a platform where regional leaders in technology come together.

Commenting on the occasion, Muhammad Nassir Salim, President & CEO – HBL said, “The HBL P@SHA ICT awards stand as a testament to the innovation, hard work, and creativity of the tech industry. HBL’s strategic partnership with P@SHA continues to bolster the Bank’s engagement and outreach within the tech ecosystem, amplifying its impact on the digital economy. The technology sector has immense potential to fulfill the Government of Pakistan’s vision of a Digital Pakistan and place our country as a major technology destination in the world.”

By celebrating achievement, encouraging competition, and strengthening connections across industry, academia, and government, the P@SHA ICT Awards reaffirm Pakistan’s place as a rising force in the global technology landscape.

About P@SHA ICT Awards

The P@SHA ICT Awards are organized annually by the Pakistan Software Houses Association, the leading trade body for Pakistan’s IT and ITES sector. The Awards recognize innovation and excellence in technology and provide winners with the opportunity to showcase their work internationally, most notably through participation in the Asia Pacific ICT Alliance (APICTA) Awards.

The HBL Pakistan Manufacturing PMI clocked in at 48.0 in September, down from 50.1 in August, marking the first sub-50 print since the series began in May 2024. A reading below 50 signals a contraction in manufacturing activity. The downturn was led by a record decline in new orders with manufacturers citing floods as the primary drag on the sector.

With demand weakening, firms scaled back employment for the fourth straight month, pointing to lower workloads and cost-saving efforts. Work backlogs were also reduced as companies focused on fulfilling existing orders, although the pace of depletion moderated compared to June.

On the cost side, input prices rose sharply, with firms attributing the increase to higher electricity costs and flood-induced supply constraints. In response, firms raised prices at an even quicker pace.

Commenting on the release, Humaira Qamar, Head of Equities & Research, noted “Despite the September setback, manufacturers remained optimistic about output growth over the next 12 months. That said, business confidence eased to a three-month low amid concerns over prolonged inflationary pressures and a subdued domestic economy. While Large-Scale-Manufacturing output was up 9% y/y in July, the latest PMI data suggests emerging headwinds for the sector. Nonetheless, we maintain a sanguine outlook on the domestic economy, on the back of more favorable global conditions as well as milder-than-expected flood-related damage to the industrial sector. Although CPI-based inflation is projected to move up in the near-term, we view these pressures as transitory and expect them to ease as supply-side constraints gradually unwind.”

Prior to the floods, Pakistan’s PMI held up well in a global context, ranking amongst the 10 emerging economies out of 18 surveyed with a reading above the neutral 50 mark. This was despite headwinds posed from U.S. tariffs.