Awards for Excellence 2022: Best bank in Pakistan – HBL
Best Bank: HBL
HBL enjoyed its strongest-ever performance in 2021, and, by extension, the strongest performance in Pakistan. Its Rs62 billion ($351.2 million at the time) consolidated pre-tax profit for the year represented 17% year-on-year growth. After-tax profit of $201.1 million equivalent was also a record. It became the first bank to achieve a Rs4 trillion balance sheet – Rs4.3 trillion by the end of the year, up 12% in 12 months – while total deposits at Rs3.4 trillion were up 19%.
Alongside all of this, expenses remained steady and asset quality improved; HBL uses a metric it calls the infection ratio, and its current level of 5.1% is an all-time low. Chief executive Muhammad Aurangzeb is delivering.
Several engines drove all this: a vibrant year in consumer banking, digital momentum, record volumes in cash management, and a 20% growth in the farmer financing portfolio.