Karachi, 02 February 2026:

The HBL Pakistan Manufacturing PMI eased to 51.8 in January, down slightly from 52.8 in the previous month, but still above the 50.0 neutral mark for the third consecutive month. This indicates that operating conditions continued to improve, though at a more moderate pace.

A key driver of the slowdown was softer growth in new orders. Importantly, this appears less related to domestic demand and more to supply‑side constraints. Manufacturers highlighted that higher electricity costs and ongoing load shedding limited their ability to accept or process additional orders. On the external front, foreign demand remains under pressure. New export orders fell for the sixth time in seven months, as shifting U.S. trade tariffs increasingly benefit competing countries.

Despite these challenges, output expanded modestly, though it was held back by inflationary pressures and adverse weather that disrupted operations. With order books thinning, firms continued to reduce backlogs, while employment levels remained broadly stable. Finished goods inventories declined for the first time in three months, as companies turned to existing stock to meet sales amid power constraints that curbed production.

Kumail Chevelwalla, Team Lead, Equities & Research, commented on the latest release, “Despite trending above 50.0, the Future Output Index fell to the lowest on record since the Index was launched in May 2024, reflecting concerns over tariffs and persistent inflation. We believe that growth is expected to be driven primarily by domestic demand, with external markets offering limited support. The central bank upgraded its GDP growth forecast to the 3.75%-4.75% range, citing stronger than expected economic activity, particularly in the manufacturing sector while simultaneously flagging risks of a challenging export environment, projecting them to decline 6% in fiscal year 2026.“

• Winners were announced at the finals pitch event following a three-month long program that kicked off in November 2025
• Anusha Fatima - TrashIt wins the new Sustainability Award introduced for the first time this year
• Winners receive a USD10,000 grant each, a tailored training program, mentoring opportunities, and access to She’s Next Club resources such as a workshop library and a community of entrepreneurs
• An independent committee selected winners from almost 3,500 applicants across a variety of sectors including education, waste management, gaming, beauty and healthcare

Karachi, Pakistan – February 9, 2026 – Visa (NYSE: V), a global leader in digital payments, together with HBL, Pakistan’s premier private sector bank, today announced the five winners of the 2026 edition of the She’s Next program in Pakistan, including an award for most sustainable business at an award ceremony held at Pearl Continental hotel. These winners included AIMAN SHAFIQUE - EV Square, ANUSHA FATIMA

- Trashit, FIZZA HUSSAIN - Khaas Foodz Kitchen, MAIRA SIDDIQUI - Chiragh Education Technologies, MEESHA BAIG - Goud.

Handpicked from a pool of almost 3,500 applicants within Pakistan, the five, winning woman-owned enterprises received a USD10,000 grant each, tailored guidance and expert mentorship to give flight to their entrepreneurial ambitions. Winners will also receive access to resources such as a workshop library and a community of entrepreneurs to turn their business dreams into thriving realities and join the She’s Next Club. The winning businesses represent a range of sectors including but not limited to education, gaming, waste management and healthcare.

A jury evaluated entries based on the following criteria: the progression of applicants’ entrepreneurial journeys; robustness of their business metrics; digital presence; and demonstrated ability to problem- solve confidently. The members of the jury included: Maya Inayat Ismail, Chairperson HBL Microfinance Bank, Naz Khan, Principal Country Officer, IFC, Dan Baxter, Vice President, Corporate Communications & Events, CEMEA Visa, Mubariz Siddiqui, Founding Partner of Carbon Law and Ali Ladhubhai, Co-Founder, Abhi Microfinance Bank.

“It is with immense pride that we celebrate the winners of this year’s She’s Next program, an initiative crucial to fostering a future where every woman entrepreneur can achieve her fullest potential and build a legacy of success. The pitches we witnessed today showcase the highest ambition among women entrepreneurs in Pakistan,” said Leila Serhan, Vice President and Group Country Manager—North Africa, Levant and Pakistan.

“We saw significant interest this year with She’s Next attracting 3,500 applicants. We also expanded our offerings beyond funding to include invaluable mentorship from renowned Pakistani experts and critical market exposure. The value of this program is evident – we have seen women entrepreneurs from our last She’s Next program transform their ventures into larger, more profitable, and operationally efficient

businesses. We also saw that real life reflected our research. The Visa Women SMB Digitization Index unveiled a compelling 87% of women owned businesses report high levels of digitization in their operations and we saw digitization to be a key tool woman are leveraging to build and market their businesses. We are dedicated to supporting this trend with the resources, knowledge, and secure digital payment solutions essential for scaling their businesses, accessing new markets, and significantly contributing to Pakistan's digital economic transformation."

Aamir Kureshi, Head Products & Payments – HBL, said: “HBL congratulates the winners of this year’s She’s Next program for the clarity, ambition, and resilience reflected in their entrepreneurial journeys. In collaboration with Visa, the Bank continues to support initiatives that expand women’s participation in Pakistan’s economy and strengthen a vital driver of sustainable growth. This year’s program saw broader participation and deeper engagement than the previous edition, reflecting growing momentum among women entrepreneurs nationwide. As businesses scale, access to the right financial tools, payment solutions, and advisory support becomes essential to managing growth sustainably. Through She’s Next, HBL remains focused on enabling women entrepreneurs with practical, market-ready solutions that help them formalize, grow, and compete with confidence.”

The She’s Next Women SMB Digitization Index surveyed Pakistani women business owners who hold a notable share of senior leadership roles to understand their motivations and challenges, scoring enterprises based on five indicators: online presence, digital payments acceptance, payment security awareness, customer engagement, and customer retention. Despite their own personal hurdles and growth ambitions, women business owners are motivated by financial independence, and a deep desire to create supportive work environments which uplift societies. They are integrating payment technologies and artificial intelligence to overcome obstacles and drive their businesses forward.

The Index showed women at the forefront of AI adoption, integrating a diverse range of AI tools. A significant 49% of women-led businesses use natural language processing (NLP) tools such as ChatGPT, 43% utilize data analytics and pattern recognition, and 43% employ Chatbots or virtual assistants. They rely on business mentors or coaches (40%) for advice, indicating a strong value placed on guidance and development. Their motivations for starting a business include being financially independent (39%) and creating a workplace that is supportive of women (24%), underscoring their commitment to fostering positive and empowering environments.

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About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at About Visa, visamiddleeast.com/blog and @Visacemea

About HBL

HBL was the first Pakistani commercial bank to be established in Pakistan in 1947. Over the years, HBL has maintained its position as the premier private sector bank in Pakistan with 1,600+ branches, 2,260+ ATMs, 54,400+ Konnect by HBL agents (branchless banking platform), 42,000+ QR locations

serving over 40 million+ clients worldwide. The Bank is recognized as the leading financial institution of the country for its client-centric innovation in financial services – providing regional relevance for its clients in the countries where the bank conducts its business.

Karachi, Pakistan — HBL, one of Pakistan’s most iconic brands, unveiled its refreshed brand identity, marking a defining moment in its evolution as Pakistan’s premier financial services group.

For more than eight decades, HBL has shaped Pakistan’s financial landscape and contributed meaningfully to the country’s economic development. The refreshed identity honours this heritage while expressing clarity of purpose and confidence in the future.

The ‘HBL’ wordmark remains unchanged, preserving the trust and institutional equity built over generations. The addition of a distinctive design device, inspired by the calligraphic precision of the HBL mark, introduces a contemporary visual language that conveys clarity, movement and progress.

HBL’s signature ‘Turquoise’ color continues to anchor the identity, complemented by ‘Light Lemon Yellow’ color to enhance vibrancy while remaining unmistakably HBL. Together, these elements create a unified and cohesive visual system across the institution.

The refreshed identity will be implemented across branches, ATMs, digital platforms, mobile applications, websites and customer-facing environments over the coming months, ensuring consistency and recognisability at every touchpoint.

The Refreshed Brand identity will also be rolled out across HBL’s subsidiaries, including HBL Microfinance Bank, HBL Asset Management, HBL Zarai Services Limited, HBL Currency Exchange, and HBL Bank UK.

The brand refresh is not a reinvention of HBL. It is a sharper expression of who it is today.

Pakistan, Karachi – 18 February 2026:

HBL today declared a record profit before tax of Rs 148.1 billion for the year ended December 31, 2025, 23% higher than in 2024. The profit after tax increased by 16% to Rs 66.8 billion. EPS for 2025 was Rs 45.48, compared to Rs 39.85 in 2024. Along with the results, the Bank declared a final Cash Dividend of Rs 6.00 per share i.e. 60% for the year ended December 31, 2025. This is in addition to the interim Cash Dividend(s) already paid at Rs 14.00 per share i.e. 140%

HBL’s balance sheet grew by 27% to Rs 7.7 trillion, with total deposits closing at a record high of Rs 5.5 trillion, a growth of Rs 1.2 trillion over December 2024. Domestic deposits increased by 30% to their highest level of Rs 4.7 trillion, as a result HBL’s market share improved from 12.06% in December 2024 to 12.65% in December 2025. HBL’s total advances stood at Rs 2.1 trillion; the Banks flagship consumer portfolio continued its growth trajectory, reaching Rs 177 billion, while the Group’s agriculture financing increased to over Rs 100 billion.

Despite a drop of 250 bps in the SBP’s Policy Rate over the year, HBL’s net interest income increased by 12% to Rs 276 billion. This was supported by a 19% volumetric expansion in the average domestic balance sheet and improved average current account mix which helped in reducing the deposit cost. Non-fund income of Rs 86 billion was driven by strong contributions from the Treasury business. HBL’s fee income of Rs 47 billion was supported by positive contributions from the Cards business, Bancassurance and retail banking. HBL’s total revenue thus increased to Rs 361 billion.

Conscious efforts to optimize costs has contained administrative expense growth to 4%, improving the cost/income ratio to 55.6% in 2025. Strong recoveries helped contain the non-performing loans during the quarter, and with an increase in advances, HBL’s infection ratio improved to 4.6%. HBL’s sustained profitability has led to a strong improvement in the Capital Adequacy Ratio which increased from 17.7% in December 2024 to a solid 18.32%, well above required levels.

Commenting on the Bank’s results, Muhammad Nassir Salim, President & CEO – HBL, said, “The solid financial results of 2025 underscore the Bank’s focus throughout the year on its strategic direction – ‘Scale with Profitability’. This mantra underscores our commitment to achieving sustainable growth by enhancing client value and operational efficiencies, while ensuring robust compliance and control. At the heart of all that we do is our transformation into a client-first organization, delivering unparalleled value to our clients.”

Delivering value for stakeholders

HBL is fully committed to growing the “S” of SME business in a significant and sustainable way. In 2025, the Retail Lending portfolio surpassed PKR 155 billion, reflecting continued expansion in support of small and medium enterprises, thereby supporting the business and economic wellbeing of this critical segment. The Bank strengthened its SME infrastructure through the establishment of 17 SME Trade Centers across Pakistan, enhancing access to advisory and trade services for businesses nationwide.

HBL and its subsidiary HBL Microfinance Bank remain the single largest lender to the farming community. In 2025, the Bank maintained a strong commitment to the agriculture sector, with an active agri lending portfolio exceeding PKR 62 billion and new disbursements of PKR 14 billion during the year. Moreover, HBL Zarai deepened its footprint through geographic expansion including entry into Sindh and scaled its distribution network via Zarai Dost Shops.

The Bank delivered strong performance across its digital trading platforms, with HBL Symphony® volumes rising to PKR 3.94 trillion and HBL Infinity® volumes reaching USD 2.6 billion, reflecting sustained growth and client adoption.

The Cash Management business recorded 23% growth, with total throughput increasing to PKR 24 trillion. HBL upgraded the HBL Pay Business Banking platform, reinforcing its leadership in transaction & employee banking. The Bank’s rapidly expanding digital platforms serve more than 4.5 million unique customers every month, for both financial and non-financial services.

HBL remained a thought leader in 2025 in the Pakistan market with its collaboration with S&P Global, to launch the HBL S&P Global PMI® (Purchasing Managers’ Index™) series for Pakistan.

Through HBL Foundation, the Bank allocated Rs 889 million across healthcare, education, sports, community development, emergency relief, humanitarian assistance and cultural preservation.

Work concluded on HBL’s Brand Refresh, which has now been rolled out in February 2026. The complete roll-out across the Bank’s extensive physical and digital network will be completed this year. This Brand Refresh will ensure the brand remains relevant to evolving customer expectations, by blending HBL’s heritage with contemporary design sensibilities. Taken together, the elements of the Bank’s refreshed identity signal confidence and forward momentum.

2025 was a landmark year for the HBL brand with the renewal of its title sponsorship for HBLPSL 11(2026) and 12 (2027), extending the Bank’s association with the league to twelve years. This milestone reinforces HBL’s unwavering commitment to Pakistan’s youth and the communities it serves.

In recognition of the Bank’s leadership and performance, HBL was honored with 30 prestigious accolades during 2025, including ‘Best Bank in Pakistan’, ‘Pakistan’s Best Investment Bank’ and ‘Pakistan’s Best Bank for Large Corporates’ by Euromoney Awards 2025. HBL also received the award for ‘The Most Inclusive Organization in Pakistan’ by Global Diversity, Equity & Inclusion Benchmarks (GDEIB).

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.”

17 February 2021

HBL today declared a consolidated profit after tax of Rs. 30.9 billion for the year ended December 31, 2020, double that for the same period last year. The Bank’s earnings per share increased to Rs. 21.06 compared to Rs. 10.45 for 2019. Profit before tax recorded a growth of 84% over 2019 to Rs. 53.0 billion. Along with the results, the Board declared a final Cash Dividend for the year ended December 31, 2020 at Rs. 3/- per share i.e. 30%. This is in addition to the Interim Dividend already paid at Rs. 1.25/- per share i.e. 12.5%.​

HBL grew its domestic deposits by a phenomenal Rs. 400 billion, with market share increasing to over 14%. An increase of over Rs. 100 billion in current and more than over Rs. 200 billion in savings accounts resulted in strong CA and CASA ratios of 35.0% and 86.6% respectively; HBL’s total deposits increased to Rs. 2.8 trillion. Domestic advances crossed a landmark of Rs. 1.0 trillion and the Consumer lending portfolio, in particular, showed an excellent performance, crossing Rs. 75 billion.

Helped by the strong balance sheet growth, HBL’s total revenue set a new record, crossing Rs. 160 billion. The Bank improved its cost to income ratio from 73.5% in 2019 to 58.5% in 2020 and the infection ratio improved to an all-time low of 6.3%. HBL’s CAR, which now stands at 17.2%, is well above regulatory requirements.

Commenting on the Bank’s performance, Muhammad Aurangzeb, President & CEO, HBL said, “The Bank had a stellar year in which all key indicators remained on an upward trajectory, and the domestic franchise delivered record profits. The international business has also shown signs of a turnaround in Q4’20 with revenues trending upward. Moreover, HBL is actively working on financial inclusion initiatives through significant investments in technology and digitalization efforts. During 2020, HBL remained conscious of its responsibility to support its customers and the broader economy, especially during these testing times.”

The Bank’s journey towards becoming a “Technology Company with a Banking License,” has accelerated as it witnessed an increase in its digital transaction volume. There was a 93% increase in HBL Mobile and Internet Banking transactions volume and a 157% uptake in Konnect by HBL, the Bank’s branchless banking platform. Through ‘HBL Pay’ all onboarding and payment solutions for businesses were consolidated under a single platform. Collectively, HBL managed a throughput of Rs. 7 trillion in 2020, a growth of over 34% vs 2019.

Financial inclusion is at the core of HBL’s business philosophy, to work towards reducing poverty and achieve inclusive economic growth. HBL joined forces with Government of Pakistan to enable the delivery of the Ehsaas Emergency Cash Program disbursing approximately Rs. 175 billion to an estimated 12 million families over a period of two months. HBL and Ehsaas also partnered on the Kafaalat program which serves more than three million deserving women across the country.

HBL retained its #1 position in Consumer Finance. The Bank came first in Credit Cards, Debit Cards, Merchant Acquiring, Personal Loans and second in Auto Loans. Personal loans at Rs. 37 billion, delivered a growth of 12% over last year. The primary growth driver for 2020 was auto finance, recording an increase of Rs. 9 billion, 53% over 2019. HBL is the only bank in Pakistan enabling its customers to avail a credit card and personal loan through its app; Rs. 3.2 billion worth of loans were disbursed in 2020 using the Bank’s digital channels.

The Bank provided digital onboarding and servicing through the eBanc Roshan Digital Account (RDA), a special investment account created for expatriates. Since its launch, 12,000 Pakistanis from 104 countries have set up RDA accounts and remitted more than USD 44 million in a short span of three months.

The Bank’s Islamic Banking arm, over 900 branches/windows nationwide, provided Shariah compliant fixed home finance rentals.

HBL maintained its position as the lead private sector financier of the agriculture sector, with a 30% market share. The Bank has introduced technology-based farming techniques for farmers which aim to raise their standard of living and become better integrated with the value chain which provides food security to the country. The Bank’s Development Finance Group (DFG) is using innovative technology to augment Pakistan’s Agriculture value chain bringing together the ‘Farm-to-Fork’ ecosystem.

HBL maintained a strong corporate and investment banking presence in Pakistan. The Bank worked on energy, infrastructure and power projects to promote capital market development, deepen secondary markets and provide advisory services.

The Bank’s Operations launched HBL Fusion, a digital online portal for trade and foreign remittance transactions approval. The portal facilitates customers who require State Bank of Pakistan’s (SBP) approvals for foreign exchange.

HBL led the market in adopting Environmental, Social & Governance (ESG) principles. HBL is the first bank in Pakistan to become a member of the Green Investment Principles for the Belt and Road Initiative.

As the largest executor of CPEC related financing in Pakistan, China remained the lynchpin of HBL’s international strategy. In December 2019, HBL became the first Pakistani bank to be awarded the muchcoveted branch license to offer financial services to clients in Beijing, which is expected to be launched in Q1 2021. The Beijing branch will allow HBL to interact with regulators, major state-owned enterprises (SOEs) and leading financial institutions involved in CPEC and other Belt and Road Initiative (BRI) corridors.

In 2020, HBL won, The Euromoney Award for “Best Bank in Pakistan” & “Best Bank Transformation in Asia.” At the World Finance Digital Banking Awards HBL won, “Best Mobile Banking App”, “Best Digital Consumer Bank” and “Best Use of Social Media.” HBL won the Global Islamic Finance Award for “Best Islamic Bank for Trade Finance.” HBL won “Best Customer Franchise”, “Best Bank for SME” and “Best Investment Banking” by the Pakistan Banking Awards.