The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Awards for excellence - Pakistan

Best bank:

Muslim Commercial Bank


General Pervez Musharraf, or since June 20 President Musharraf, and his technocrats and businessmen are making a difference in the battle to clean up the financial sector. Consolidation is being pushed by the central bank. It believes the banking industry is far too fragmented. In an attempt to force the issue the capital adequacy requirement of commercial and investment banks is being raised.


At the moment it stands at PRs500 million ($8 million), increasing to PRs750 million by the end of the year. Although painful, this will lead to stronger banks.


Cronyism, which was so rampant under the democratically elected administrations of the past, led the government banks to build up impressive portfolios of bad assets. It has all but been stamped out.


Estimates for the sector's non-performing loans range between 40% and 20% of the banks' portfolio. These will decrease. Bankers are now held accountable for the loans they make and in a country not famed for its comfortable jails, they will definitely be taking more care about their lending practices.


Although Pakistan experienced disinvestment in 1998 after deciding to test nuclear weapons, this did its domestic banks a favour.






You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree