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%.”

HBL became the first Pakistani bank to open a branch and serve clients in Beijing, China’s capital city.

Karachi, 22 March 2021

The inauguration ceremony for HBL Beijing was attended by clients, regulators and senior executives of the Bank from across HBL’s international network. From Pakistan, Mr. Jameel Ahmad, Deputy Governor – State Bank of Pakistan, Mr. Sultan Ali Allana, Chairman - HBL, Mr. Muhammad Aurangzeb, President & CEO – HBL, along with senior executives and HBL’s customers, virtually joined the ceremony. HBL Beijing offers a full range of products & services for the Bank’s esteemed clients.

HBL remains grateful to the Governments of Pakistan and China and the regulators for the trust and confidence they have reposed on the Bank, through the opening of the branch.

HBL has created history by being the first and only bank from Pakistan to have a branch in Beijing and one of the three banks from South Asia and MENA region to offer end-to-end RMB intermediation in China. Upon commencement of business, HBL Beijing has become HBL’s second branch and its managing branch in China; both branches in Beijing and Urumqi are equipped with foreign exchange and RMB license to better facilitate customers’ requirements in multiple currencies.

HBL’s presence in China will allow the bank to interact with State-Owned Enterprises (SOEs) and leading financial institutions involved in CPEC and across Belt and Road Initiative (BRI) corridors. China is a very important market for HBL not only in terms of the business in China and CPEC, but also for Chinese companies working on projects in countries across the HBL network.

Chairman HBL, Sultan Ali Allana said, “HBL’s journey in China began in 2005 when we established our Representative Office in Beijing. This was followed by the establishment of branch operations in Urumqi in 2017 and today we mark the commencement of our branch operations in Beijing. It is an extremely proud moment for us as we enhance our China franchise, and we look forward to playing a leading role in facilitating regional trade and serving our valued customers throughout HBL’s international network.”

Commenting on the branch opening, Muhammad Aurangzeb, President & CEO, HBL said: “China is the second home market for HBL and we will grow our business in the country. China remains the lynchpin of HBL’s international strategy. We are grateful to the regulators for having granted us the branch license. They are very supportive of developing market-based capabilities and encouraging financial institutions like HBL to provide clients best-in-class product and services. HBL is the largest executor of CPEC related financing in Pakistan, and the Bank’s presence in China has put us in a unique position to connect our clients across the HBL network directly with the businesses in China.”

​Karachi, September 3rd, 2021

marks a special occasion in the history of HBL, Pakistan’s largest Bank in the private sector. The Bank celebrates the 50th anniversary of the HBL Plaza building today. The HBL Plaza building commenced its operations on 4th September 1971. This commanding 335 feet skyscraper stands tall on I.I. Chundrigar Road, the heart of Pakistan’s financial district, and houses over 1,700 employees.

Recognized as one of the most prominent buildings of Pakistan, the building’s structure with its distinct shape and engineering firsts in Pakistan, remains a symbol of Karachi’s skyline and continues to be one of the most prominent landmarks of the country. Upon its commencement, it was the tallest bank building in Asia and for decades it remained the tallest building in the country.

Few structures in the country are as embedded in the nation’s psyche as HBL Plaza is. Many would remember the building being used for the sighting of the Ramazan and Eid moons. 50 years later, HBL Plaza continues to be an important landmark of Karachi.

Today, HBL Plaza serves as the nerve-centre of HBL’s operations, technology and the digital transformation that the Bank has embarked upon. The building is the backbone of the products, services and controls that HBL provides to its clients.

These past 50 years lifespan of the HBL Plaza building has seen a significant growth in the financial well-being of both the country and the millions of HBL clients. The building has witnessed HBL’s remarkable strides in the financial industry. For perspective, around that period, the Bank’s profit stood at approximately Rs 100 million; today, it has crossed Rs 30 billion. In these intervening years, the Bank’s advances have grown from Rs 4 billion to Rs 1.2 trillion, while its total deposits have risen from Rs 6.8 billion to Rs 3 trillion.

Commenting on the occasion, Muhammad Aurangzeb, President & CEO – HBL said, “HBL’s financial journey wouldn’t have been possible without our clients, stakeholders and employees who have been steadfast in their loyalty to the Bank. Their support has enabled HBL to become one of the leading brands of Pakistan. As HBL looks ahead to its future, to serve the clients through its physical and digital channels, I would like to take this opportunity to express our deep appreciation and gratitude to all our stakeholders, as the Bank continues to serve them in the decades ahead, Inshallah.”