Want to open a new account to store money? Confused about which back is the right choice? In total there are seven different types of banks in the country of Pakistan.
- Public Sector Banks
- Islamic Banks
- Private Banks
- Foreign Banks
- Specialized Banks
- Development Financial Institutions (DFI)
- Micro Finance Banks
Each of the mentioned categories has its own laws and rules, many of which are similar to each other. Mentioned below are the top 10 Banks in Pakistan according to their ranking among reviewers.
Standard Chartered:-
The Standard Chartered Bank opened up business in Pakistan more than 140 years ago. The first bank office was opened in Karachi in 1863. In today’s time, it is not only the oldest, but the most successful bank in Pakistan as well. It has successfully opened up 127 branches and an estimated 9960 citizens have been employed. Customers have rated this bank as number one with great satisfaction. Its security and customer service have proven to be of great use.
The State Bank of Pakistan:-
This is the known as the central bank of Pakistan. It serves as a medium to issue notes, regulate the entire financial and economic system, and the formation of financial policies. The State Bank has also permitted the use of credit with the development of new systems. The SBP was issued full autonomy in February 1994. Users have rated the bank’s efficiency as excellent and it is ranked as number 2 in the list of top banks in Pakistan.
National Bank of Pakistan:-
This bank has maintained its position as Pakistan’s premier bank for quite a while. It is determined to achieve higher standards for future efficiency. This bank is the largest and most important business partner for Pakistan’s government, dealing in its economic and financial growth. Its branches are numerous all over Pakistan and customers have rated this bank as the third best bank there is in Pakistan.
Habib Bank Limited:-
HBL has branches in 26 countries covering five continents. It is one the largest banks in Pakistan. HBL holds a share in the domestic market of 40%. It deals in the sector of inward foreign remittances and therefore holds a large share of the market in that sector. Satisfied customers have rated this bank as “Very Good” and recommend it for foreigners who look to transfer funds across countries.
Muslim Commercial Bank Ltd-
The title of the largest private sector bank within Pakistan goes to the Muslim Commerce Bank. Reviewers have rated it as satisfactory with room for improvement.
Bank of Punjab:-
This bank has been ranked as number 6 among the reviewers. Its main office is in Punjab and focuses mainly in that area, leaving other parts untouched
Bank Alfalah Limited:-
The position of number 7 is held by this bank. Users have rated it as “Satisfactory”
Askari Bank Limited:-
The Askari Bank Limited is also a private bank taking up the 8th position. Customers have rated the bank as poor standards.
United Bank Limited:-
Once a popular bank now unable to keep up with the competition, the UBL bank has been demoted to 9th.
Al Faysal Investment Bank Limited:-
The 10th position belongs to this bank. Customers have rated it as “Unsatisfactory” and “requires improvements”.
Very nice article! Thanks for sharing these useful tips. I would share this post with my friends. UBL Credit Card
ReplyDelete