Askari Bank

Askari Bank Limited
Native name
عسکری بینک لمیٹڈ
FormerlyAskari Commercial Bank
Company typePublic limited company
PSX: AKBL
IndustryFinancial services
Banking
Islamic Banking
Capital markets
Asset management
Founded9 October 1991; 32 years ago (1991-10-09)
HeadquartersIslamabad, Pakistan
Area served
Pakistan
Key people
ProductsLoans, credit cards, debit cards, savings, Consumer Banking, Business Banking, Islamic Banking, Priority Banking etc.
RevenueIncrease Rs. 72.359 billion (US$250 million) (2023)
Increase Rs. 43.01 billion (US$150 million) (2023)
Increase Rs. 21.435 billion (US$74 million) (2023)
Total assetsIncrease Rs. 2.124 trillion (US$7.4 billion) (2023)
Total equityIncrease Rs. 97.123 billion (US$340 million) (2023)
OwnerFauji Fertilizer Company (43.14%)
Fauji Fertilizer Bin Qasim (21.57%)
Fauji Foundation (7.19%)
Number of employees
7,881 (2023)
ParentFauji Foundation
SubsidiariesAskari Exchange Company
Foundation Securities Limited (51%)
Websiteaskaribank.com
Footnotes / references
Financials As of 31 December 2023 [1]

Askari Bank Limited (Urdu: عسکری بینک), formerly Askari Commercial Bank, is a Pakistani commercial and retail bank headquartered in Islamabad.[2] It is owned by Fauji Foundation.[3]

History

It was founded on October 9, 1991, as a public limited company.[3]

On June 21, 2013, the bank was acquired by Fauji Group.[4]

In September 2020, Askari Bank acquired Askari Securities which is now a wholly-owned subsidiary.[5]

Branches

Askari Bank has 600 branches and more than 500 ATMs across Pakistan and a wholesale bank branch in Bahrain.[6]

Awards and recognitions

  • The Asian Banker awarded twice as “Best Retail Bank in Pakistan” in 2004 and 2005.[7]
  • Askari Bank also has been given the “Best Consumer Internet Bank” award by Global Finance magazine for the years 2002 and 2003.[8]

See also

References

  1. ^ "Askari Bank Annual Report 2023" (PDF). askaribank.com. Retrieved 26 March 2024.
  2. ^ "The Official Website of Askari Bank Limited Pakistan| Registered Office & Head Office".
  3. ^ a b Masooma, Syeda (May 6, 2019). "Will Askari Bank's new CEO succeed in his desire to shake the bank out of its stupor?". Profit by Pakistan Today.
  4. ^ "Fauji Foundation to acquire Askari Bank's 100pc shares". The Nation. 19 January 2012.
  5. ^ Profit (2020-09-26). "Askari Securities is now a wholly owned subsidiary of Askari Bank". Profit by Pakistan Today. Retrieved 2020-09-30.
  6. ^ "Askari Bank Annual Report 2022" (PDF). Askari Bank. 31 December 2022. Retrieved 22 November 2023.
  7. ^ "The Excellence in Retail Financial Services International Awards". asianbankerforums.com.
  8. ^ "Features : The World's Best Internet Banks, 2004". Global Finance Magazine. 6 June 2023.
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