Pakistan, Karachi – 23 January 2025

Upholding the ethos of the Aga Khan Development Network (AKDN), HBL believes that impact & sustainability extend beyond charitable giving. HBL, being more than just a bank, is committed to fostering positive change by addressing climate change, promoting financial inclusion, and alleviating poverty. This commitment is reflected in HBL’s ambitious sustainability goals, including its aim to achieve Net Zero emissions by 2030. In 2023, HBL made significant strides towards these goals, including solarizing 235 of its premises, investing Rs 36 billion in renewable energy projects, and prioritizing Diversity, Equity, and Inclusion across its operations.

Sharing his comments, Sultan Ali Allana, Chairman – HBL, stated, “For two decades, we have consistently seized opportunities to promote sustainable development and foster prosperity in the country. Building on the ethos of AKFED, we seek to enrich the lives of those we serve. As financial literacy and inclusion remain our directional vectors, we are cognizant of the need to constantly innovate and leverage technology.

Our focused approach and interventions through HBL’s SME, Agri, and Microfinance arms have ensured banking coverage to over 36 million people throughout the country, most of whom we considered un-bankable.

In 2023, the HBL Board supported the enhancement of the Bank’s contribution to the HBL Foundation (HBLF) from 1% profit after tax to 1.5% profit after tax. With this enhanced capacity, the HBL Foundation has been able to widen its program spread across key areas of need, making robust contributions to healthcare, education, and community development.”

HBL has achieved a remarkable milestone with the HBL Foundation surpassing Rs 3 billion in direct contributions, positively impacting nearly 10 million lives across Pakistan.

The Foundation allocated funds for healthcare, education, and vocational training programs for skill development and sustainable livelihoods. The Foundation also played a pivotal role in disaster response and community welfare.

This landmark achievement is highlighted in HBL’s Impact & Sustainability Report 2023, reaffirming its position as a catalyst for sustainable development in Pakistan. The comprehensive report highlights the Bank’s contributions across economic, social, and environmental dimensions, underscoring its alignment with the United Nations’ Sustainable Development Goals (SDGs) and Global Reporting Initiative (GRI) standards.

The report also outlines tangible achievements marking significant milestones in 2023.

Key Achievements:

• Solarization of 204 HBL branches and 31 offsite ATMs, along with 60 branches of HBL Microfinance Bank, reducing carbon emissions by over 500 metric tons of CO₂ equivalent.
• Rs 36 billion was invested in renewable energy projects, including solar-powered tubewells and community-owned biogas plants, ensuring sustainable energy access for rural areas.
• Rs 82 million was invested in educational infrastructure projects, impacting nearly 18,000 students.
• Support for skill development initiatives, benefiting 11,500 individuals through vocational training programs.
• Launch of HBL Zarai Services Limited, a first-of-its-kind subsidiary in Pakistan dedicated to agricultural extension services, aiming to empower small- and medium-scale farmers.
• Over Rs 100 billion was disbursed to 345,000 farmers, boosting farm profitability and enhancing food security.
• 37 million customers served globally, including 5 million women customers.
• Rs 1.5 billion disbursed to 600 women entrepreneurs, driving economic participation.
• Expansion of SME lending to cross Rs 100 billion, with a focus on small businesses, women entrepreneurs, and freelancers.

HBL invites you to read its Impact and Sustainability Report – 2023 to learn how profitability and sustainability together make a real difference.

Sustainability

Pakistan, Islamabad – 28 January 2025:

HBL Microfinance Bank (HBL MfB) proudly announces the appointment of Maya Inayat Ismail as the Chairperson of the Board of Directors, succeeding Rayomond H. Kotwal. Maya Inayat Ismail was part of the core strategic team that established HBL MfB’s predecessor organisation, FMFB, the first microfinance bank in Pakistan, bringing to life His Highness the Aga Khan’s vision of ensuring access to financial services for underbanked communities. She has been a member of the Board of HBL Microfinance Bank since 2016 and Chair of the FISC Committee, reflecting her passion and dedication to financial inclusion. Maya Inayat Ismail brings over 25 years of experience in the financial sector, with a strong focus on financial services institutions, managing strategic partnerships, and strategy formulation to benefit people at the grassroots level.

The outgoing Chairman, Rayomond H. Kotwal remarked, “It has been an honour to serve as the Chairman of HBL Microfinance Bank. I am proud of what we have achieved together in driving financial inclusion across Pakistan. I am confident that Maya Inayat Ismail’s appointment will usher in a new era of innovation for the Bank, and I look forward to seeing the Bank flourish under her guidance.”

Sultan Ali Allana, Chairman - HBL, expressed his confidence in Maya Inayat Ismail’s appointment, saying, “Maya Inayat Ismail’s expertise, coupled with her unwavering commitment to financial inclusion, will further enhance HBL Microfinance Bank’s ability to address the needs of underserved communities in Pakistan. Maya Inayat Ismail is the first woman to Chair an Aga Khan Fund for Economic Development (AKFED) institution reflecting our vision to break barriers in leadership. I also extend my heartfelt appreciation to the outgoing Chairman Rayomond H. Kotwal for his remarkable leadership, his dedication and his contributions during his tenure, and look forward to the next chapter in the Bank’s legacy.”

Maya Inayat Ismail commented on her appointment, stating, “I am deeply humbled and honoured to take on the role of Chairperson of HBL Microfinance Bank. This is a symbol of the circle of life for me, as it builds on my association with HBL MfB for over two decades. We strive to create a financially inclusive Pakistan; I am committed to building on the incredible progress the Bank has made under Rayomond H. Kotwal’s stewardship. Together with the Board, Management, and employees, I look forward to driving impactful change that empowers individuals and strengthens communities.”

About HBL Microfinance Bank:

HBL Microfinance Bank Ltd. was established in 2002 as the first private sector microfinance bank, licensed by the State Bank of Pakistan. HBL MfB was created through a structured transformation of the credit and savings section of the Aga Khan Rural Support Programme (AKRSP), an integrated development program to pioneer the microfinance sector in the country, operating since 1982 in Gilgit-Baltistan and Chitral.

HBL MfB boasts the largest portfolio in the microfinance industry, serving over 4 million customers through a footprint of 225 locations and 133 ATMs across Pakistan.

HBL MfB was established with the mission to respond to poverty and contribute to the social and economic well-being of society by providing opportunities to thousands of under-privileged households. Through targeted financial and multi-sectoral products and services based on the evolving needs of the poor, HBL MfB enables its clients to strengthen their entrepreneurial base and build financial, physical, and human capital to secure their future.

For media inquiries, please contact:

HBL Microfinance Bank
Corporate Communications Department
Email: corporate.communications@hblmfb.com

Muhammad Nassir Salim, President & CEO - HBL (standing 2nd from left) and Luke Thompson, Managing Director, S&P Global Market Intelligence (standing 3rd from left) at the launch of the HBL and S&P Global Purchasing Managers Index (PMI) for Pakistan at an event in Islamabad.

Pakistan, Islamabad – 14 February 2025:

HBL, in collaboration with S&P Global, announced the launch of the HBL S&P Global PMI® (Purchasing Managers’ Index™) series for Pakistan. This landmark initiative aims to provide valuable data and timely insights into the overall economic health of Pakistan’s manufacturing sector, marking a significant advancement in economic analysis for the country.

The HBL S&P Global PMI is a standardized and internationally recognized economic indicator that will be released monthly, offering critical data on various aspects of the economy. This index is designed to serve as an essential tool for financial institutions, policymakers, and businesses, facilitating informed decision-making and strategic planning across multiple sectors.

During the launch event, senior executives from S&P Global elaborated on the significance of the PMI as a key economic instrument.

Luke Thompson, Managing Director - S&P Global Market Intelligence, remarked, “The launch of Pakistan’s first ever PMI is a significant event contributing to the accessibility of timely and high-frequency data to track economic developments in Pakistan and support decision making by financial institutions, investors and businesses. We expect the new HBL Pakistan Manufacturing PMI will quickly become established as a key indicator in the national economic calendar.”

Muhammad Nassir Salim, President & CEO - HBL, stated, “We are pleased to launch the PMI for Pakistan, which will enhance investor confidence and transparency in our economy.

This index will not only provide valuable insights for businesses but will also serve as a vital resource for policymakers and investors navigating Pakistan’s economic landscape.”

The HBL S&P Global PMI is expected to play a crucial role in fostering greater engagement and investment across various sectors, ultimately contributing to the overall economic growth of Pakistan. The index will be compiled from responses to questionnaires sent to a diverse panel of industries, ensuring a comprehensive representation of the economy.

The HBL S&P Global PMI will be released on the first working day of each month, offering stakeholders a reliable and consistent measure of economic performance. This initiative aims to enhance transparency and provide critical insights into the economic conditions shaping Pakistan’s future, ultimately supporting informed decision-making and strategic planning across various sectors.

Pakistan, Karachi – 19 February 2025:

HBL today declared a record profit before tax of Rs 120.3 billion for the year ended December 31, 2024, 6% higher than in 2023. The profit after tax was Rs 57.8 billion as the Government once again increased the tax rate on Banks to a massive 54%. EPS for 2024 was Rs 39.85, compared to Rs 39.32 in 2023. Along with the results, the Bank declared a final Cash Dividend of Rs 4.25 per share i.e. 42.5% for the year ended December 31, 2024. This is in addition to the interim Cash Dividend(s) already paid at Rs 12 per share i.e. 120%.

HBL’s balance sheet grew by 9% to Rs 6.1 trillion, with total deposits closing at Rs 4.4 trillion, a growth of Rs 228 billion over December 2023. Domestic deposits grew by Rs 187 billion reaching Rs 3.6 trillion, with the CASA ratio showing a strong improvement to reach nearly 90%. HBL’s total advances increased by over 30% to Rs 2.4 trillion with the domestic lending book crossing a landmark Rs 2.0 trillion. Our flagship consumer portfolio continued its growth trajectory, reaching Rs 143 billion, while the Group’s agriculture financing increased to over Rs 100 billion.

Despite drastic monetary easing, which saw a drop of 900bps in the SBP’s Policy Rate over the year, HBL’s net interest income increased to Rs 246 billion. This was supported by a 17% volumetric expansion in the average domestic balance sheet and improved spreads in the international business. Non-fund income grew by an impressive 68% to Rs 96.5 billion, on the back of a very strong contribution from the Treasury business. The fee franchise yet again delivered excellent double-digit growth, increasing by 17% to Rs 49.5 billion; Cards contributed more than 50% of the increase along with solid contributions from Bancassurance and retail banking. HBL’s total revenues thus increased by 14% to an industry-leading Rs 342 billion.

Conscious efforts to optimize costs has contained administrative expense growth to 13%, improving the cost/income ratio to 56.3% in 2024. Despite an uptick in non-performing loans, the infection ratio is at an all-time low of 4.3%. HBL’s sustained profitability has led to a strong improvement in the Capital Adequacy Ratio which increased from 16.0% in Dec’23 to a solid 17.7%, well above required levels.

Commenting on the Bank’s results, Muhammad Nassir Salim, President & CEO – HBL, said, “HBL continues to deliver value for its stakeholders while navigating an increasingly complex external environment. The strong 2024 financial results ratify the Bank’s strategic direction. The Bank is proud to serve its valued clients and play its due role in the economic development of Pakistan.”

Delivering value for stakeholders

The Bank is committed to providing holistic support to the vital agriculture sector to enhance national food security. Earlier this year, HBL launched HBL Zarai Services Limited, a wholly-owned subsidiary aimed at revolutionizing the agricultural value chain.

HBL Zarai focuses on boosting local farming productivity and fostering inclusive growth by providing farmers with agronomy services, crop inputs, access to modern mechanization and more. These services are offered through Zarai Deras, specialized distribution and service centers in Burewalla, Sahiwal, Pakpattan and Sadoke. By improving access to essential resources, HBL Zarai enhances farmer productivity, contributing to the economic development of Pakistan’s agricultural sector.

HBL is the largest lender and mobilizer of government agriculture financing subsidies including solar tube wells, tractors, and livestock. With a total portfolio of over Rs 100 billion, the HBL Group holds the largest market share in both commercial and microfinance agriculture lending in Pakistan.

HBL is fully committed to growing the “S” of SME business in a significant and sustainable way. The Bank’s focus is on cash flow-based lending where it enjoys the highest portfolio in the industry. SME businesses are crucial drivers of the economy and require enhanced access to formal finance. HBL has undertaken a number of initiatives to help transform the SME landscape, fostering growth and creating opportunities for small businesses. As testament to our efforts HBL has been recognized as ‘The Best SME Bank’ by the ‘Pakistan Banking Awards’.

HBL remains a thought leader, and has actively supported SBP and the World Bank, in the development of the National Green Taxonomy. This has allowed the Bank to further identify green financing opportunities for climate change mitigation and adaptation.

In recognition of the Bank’s leadership, performance and innovative approach, Euromoney Awards for Excellence 2024 awarded HBL the accolades of ‘Pakistan’s Best Bank’, ‘Pakistan’s Best Bank for Corporates’, and ‘Pakistan’s Best Bank for ESG’. The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) awarded HBL the accolade of the ‘Best Conventional Bank of the Year Excellence Award’. Moreover, HBL was honoured with the ‘Best Board of the Year’ award by the Pakistan Institute of Corporate Governance (PICG).

​Maya Inayat Ismail, Chairperson – HBL Sustainability Forum, (sitting 3rd from left), and Salaal Hasan, CEO – Ahya, (sitting 4th from left), signed the agreement. Senior members from both organizations were also present on this occasion.

Pakistan, Karachi – 20 February 2025:

HBL, Pakistan’s leading bank, has partnered with Ahya Technologies, a Pakistani company specializing in AI-powered climate software, to accelerate its journey towards net-zero emissions by 2030. This collaboration underscores HBL’s commitment to sustainability, in line with the Aga Khan Development Network (AKDN) goals.

This partnership provides HBL access to a suite of advanced climate software products designed to simplify emissions management and reduction with accuracy, transparency, and cost efficiency. AhyaOS offers HBL a single platform to measure, analyze, reduce and report on all emissions, enabling the Bank to create decarbonization plans and achieve science-based targets (SBTs).

Speaking at the occasion, Salaal Hasan, CEO – Ahya, stated, “Embedding sustainability into the business model of financial institutions is a core economic need. We are proud to partner with HBL, the region’s leading sustainable bank, in enabling their journey to net zero. Together, we act on our shared mission in managing and reducing HBL’s emissions through AhyaOS — acting as a single source of truth for sustainability data, making it as easy to understand and report as financial data.”

Commenting on the partnership, Maya Inayat Ismail, Chairperson – HBL Sustainability Forum, said, “At HBL, sustainability is not just a commitment; it is a responsibility woven into the fabric of our operations. Partnering with Ahya Technologies marks a significant step in our aim to achieve net-zero operational emissions by 2030. We are determined to lead the way in sustainable banking, proving that financial success and environmental stewardship can go hand in hand.”

About HBL

HBL, Pakistan’s leading Bank, was the first commercial Bank to be established in Pakistan in 1947. Over the years, HBL has grown its branch network and maintained its position as the leading private sector bank in Pakistan with 1700+ branches, serving over 37 million clients worldwide. With a presence across major trade zones in the world, the Bank is recognized for its client-centric innovation in financial services.

About Ahya

A climate software and AI venture with a unified AI-powered platform for climate action. Ahya’s mission is to enable enterprises and financial institutions to achieve net zero with accuracy, transparency, and equitable economic growth. Ahya’s platform consists of two core products in AhyaOS - an AI-powered carbon management and accounting platform (CMAP) and Tawazun - a digital voluntary carbon marketplace. Ahya was founded in 2022 and has a presence in Pakistan, Saudi Arabia, and the United Arab Emirates, three of the largest economies and emission markets of the greater Middle East.

Muhammad Aurangzeb, President & CEO – HBL along with valued clients and senior leadership of the Bank at the inauguration of HBL Prestige Lounge located in Sialkot

Sialkot – 17 November 2021:

HBL inaugurated its new Prestige Lounge located in Sialkot. This is the first HBL Prestige Lounge in the city and the twelfth across the country with future plans to expand the Prestige footprint. The inauguration was led by Muhammad Aurangzeb, President & CEO – HBL. Valued clients and senior leadership of the Bank was also present on the occasion.

HBL Prestige provides a world-class banking experience to high-net-worth individuals (HNWIs). This exclusive proposition offers tailor made solutions through dedicated digital and physical channels including portfolio managers who provide personalized banking services to their clients. The state-of-the-art Prestige Lounges are located strategically in high visibility areas of key cities.

Commenting on the occasion, Muhammad Aurangzeb, President & CEO – HBL said, “HBL is delighted to be offering its exclusive Prestige clientele with an incomparable value proposition in Sialkot. The Sialkot HBL Prestige branch is the first of its kind outside Karachi, Lahore, and Islamabad, and will provide par excellence financial services to its high-net-worth clientele. We hope to remain true to HBL Prestige’s motto of “With you, in what you value.”

The agreement was signed by Adnan Pasha, Chief of Staff to the President & CEO – HBL and Faisal Bilal, Founder – GROWTECH services. Other senior members from both the organizations were also present on the occasion.

Islamabad:

HBL entered into a strategic partnership with GROWTECH Services, a leading agriculture technology company operative in Pakistan. Through this agreement, GROWTECH Services will provide technological solutions to HBL to tackle the agricultural challenges faced by farmers.

The agreement was signed by Adnan Pasha Siddiqui, HBL Chief of Staff to the President & CEO – HBL and Faisal Bilal, Founder – GROWTECH Services. The ceremony was attended by GROWTECH co-founders Shahnawaz Mahmood and Abdul Rahan Mahmood, along with Sohail Saraj, Head - North Branch Banking – HBL.

GROWTECH is working on a scientific basis with its own team of agronomists to remotely guide farmers with their analysis and recommendations. Through this collaboration, farmers that are working with HBL will have access to state-of-the-art, technology-driven solutions provided by GROWTECH including remote sensing-based services. These will help to solve agricultural land problems, determination of pesticide infestation in affected areas, crop health and nutrition needs. Furthermore, supplemental recommendations will also be made available on an ongoing basis to the HBL pilot farmers via HBL’s Development Finance agronomists to help further optimize crop yield.

GROWTECH has been providing its services to corporates and individual farmers across the country. It has also developed an application by the name of GROWPAK which is providing various functionalities, including a marketplace or eShops for farmers.

The HBL team also visited the assembly line of DIGIT smartphones, partner of GROWTECH and appreciated the efforts to locally assemble affordable smartphones, Pakistan ka Smartphone, for the masses and farmers who can be the potential users of such phones for digital inclusion.

Commenting on the partnership, Adnan Pasha, Chief of Staff to the President & CEO – HBL said, “HBL’s strategic Development Finance initiative and its contribution to the Agri value chain is the bedrock of Pakistan’s economy and will contribute towards job creation and food security by deploying best practices in agronomy combined with tech and mechanized solutions. As a result of HBL’s strategy, farmer’s productivity has significantly increased. This partnership with GROWTECH is in line with HBL’s vision of financial inclusion and will further the development of the agricultural landscape in Pakistan.”

The Bank also wins Best Bank for Small & Medium Businesses award at the Pakistan Banking Awards 2021

Muhammad Aurangzeb, President & CEO - HBL (second from right) receiving the award for ‘Best Bank 2021’ on behalf of HBL from Reza Baqir, Governor - State Bank of Pakistan (third from left) at the Pakistan Banking Awards 2021.

Karachi – 29 October 2021:

HBL wins Pakistan’s Best Bank award 2021 at the Pakistan Banking Awards held in Karachi on 29 October 2021. The Best Bank award recognizes the bank that has demonstrated the most significant contribution to national development and the most effective management of its resources including their employees, clients, franchise, community and financials. PBA also recognizes HBL as the Best Bank for Small & Medium Businesses for its strong performance, diversification and quality of SME lending nationwide.

The Institute of Bankers Pakistan (IBP) in partnership with The DAWN Media and A.F. Ferguson & Co. annually come together to conduct the Pakistan Banking Awards. This year the Awards were adjudged by a 5-member jury of experts comprising of Syed Salim Raza, Former Governor - State Bank of Pakistan, Naved A. Khan, Former President / CEO - Faysal Bank Limited, Dr. Zeelaf Munir, MD & CEO - English Biscuit Manufacturers (Pvt.) Ltd., Azhar Hamid, Former Banking Mohtasib Pakistan & Former Country Head - SCB Pakistan and Shehzad Naqvi, Former Regional Head - Citibank Middle East and Pakistan.

Reza Baqir, Governor - State Bank of Pakistan (SBP) was the Chief Guest at the ceremony. Key stakeholders of Pakistan’s banking and financial fraternities were also present on the occasion.

Commenting on the occasion, Muhammad Aurangzeb, President & CEO - HBL said, “The Best Bank Award 2021 is a testament to HBL’s commitment to financial excellence and contribution towards national development. This win is dedicated to our staff and clients whose continued patronage and confidence in HBL have enabled us to win the Best Bank of Pakistan 2021. HBL continues to consolidate its leadership position on all business fronts, while, shaping the financial industry of Pakistan.”

Karachi – 15 October 2021:

HBL today declared a consolidated profit before tax of Rs 46.4 billion for 9M’21, a growth of 8% over the same period last year. Profit after tax increased to Rs 27.0 billion, with earnings per share increasing to Rs 18.21 in 9M’21 compared to Rs 17.17 in 9M’20. The Bank declared an Interim Cash Dividend for the third quarter ended September 30, 2021 at Rs 1.75/- per share i.e. 17.5%. This is in addition to the Interim Cash Dividend already paid at Rs 3.5/- per share i.e. 35%.

HBL has the industry’s largest balance sheet which further increased to Rs 4.1 trillion, in the nine months of 2021. This was achieved by continued strong growth in deposits, which increased by more than Rs 330 billion (12%) during 2021 to Rs 3.2 trillion; the Bank’s industry leading current account book exceeded Rs 1.1 trillion. With HBL ready and willing to lend in support of economic growth, domestic advances continued to increase, rising by 9.0% over Dec’20 and surpassing Rs 1.1 trillion. Our flagship Consumer assets have continued their strong, well-managed growth and crossed Rs 95 billion in the current quarter. With international franchises on a growth trajectory, HBL’s total advances increased by 12% over Dec’20, to Rs 1.4 trillion.

HBL registered total revenue of Rs 123 billion as the strong growth in fees and balance sheet volumes were able to offset the impact of industry-wide margin compression. The Bank recorded a net interest income of Rs 97.2 billion, driven by a Rs 400 billion growth in average balance sheet volumes. Fee income showed an impressive growth of 34% to Rs 17.9 billion, driven by stellar performance from the Cards and Consumer businesses and a strong growth in domestic trade volumes which surpassed the $10 billion mark for the first time.

Total expenses remained flat year-on-year despite the Bank’s continued investment in technology and digital initiatives and in contributing to Pakistan’s economic growth and development. The Bank’s cost to income ratio (excluding capital gains) thus reduced from 60.9% in 9M’20 to 57.7% in in 9M’21.

Commenting on the Bank’s performance, Muhammad Aurangzeb, President & CEO – HBL said, “HBL maintained its robust performance across all business fronts and continued its strong business momentum in Q3 2021. The period saw significant gains, owing to the Bank’s strong core banking performance, transformative digitalization efforts, strategic partnerships and groundbreaking interventions on financial inclusion and development finance initiatives.”

The Bank remains a market leader in personal loans, merchant acquiring, credit cards and debit cards. The throughput of both debit and credit cards was over Rs 129 billion, up by 63% over the same period last year. The Bank’s merchant acquiring business has the largest Point of Sale network of 35,000 terminals in the country and recorded a growth of 50% by managing a throughput of Rs 125 billion which is the highest in the country.

The Bank’s SME and Rural Banking businesses have an Advances portfolio of Rs 58 billion and Rs 38 billion respectively which is a testament of the Bank’s commitment to serve the real sectors of the economy. SME trade volume recorded a YoY growth of 23%. Supporting the country’s agenda to promote exports, the export trade volume recorded a YOY growth of 28%.

HBL crossed Rs 1 billion for disbursements in the Dairy financing business. The Bank also became the first bank in the country to lend against an Electronic Warehouse Receipt, thereby enhancing financial inclusion of the supply chain ecosystem.

HBL serves 6 million clients globally to make their payments through the Bank’s cutting-edge digital platforms. HBL Mobile and Internet Banking has maintained its leadership position, with a record milestone of more than 7 million transactions and throughput of Rs 100 billion in a single month.

Konnect by HBL, the Bank’s branchless banking platform, continued its momentum, doubling transactions to 49 million and volumes reaching Rs 707 billion in Q3 2021. A focused strategy led to a 41% increase in in-app registrations and 32% increase in overall account portfolio. Konnect has strengthened its digital product offering with the launch of ‘Gulak’ – a first of its kind digital saving product.

Financial inclusion is at the heart of HBL’s business philosophy which manifested itself with the continuation of the Ehsaas Kafalat Program and the Punjab Agri Kissan Card mandate. Konnect by HBL has impacted 1.4 million farmers, and digitally empowered 460,000 of them through the Kissan Cards.

HBL has been pursuing its client centricity agenda aggressively across multiple client segments.

The Roshan Digital Account (RDA) portfolio maintained its growth momentum and has been ranked # 1 in accounts opened across the industry with a market share of 20%. HBL has brought in close to $330 million through the proposition.

HBL Prestige, a banking proposition for High-Net-Worth Individuals, expanded its footprint to 8 touch points in Karachi, Lahore and Islamabad. HBL Prestige has delivered positive results with 25% growth in the portfolio through an incremental deposit of Rs 4.2 billion within 6 months of launch.

HBL Islamic Banking is operating over 250 dedicated branches, the 4th largest Islamic banking network in the country. Islamic Banking continues to focus on Commercial and SME businesses by expanding trade hubs to provide ease of service to these segments.

The HBL Development Finance team through its pilot programs have delivered enhanced yields for farmers. The Bank scaled up its Development Finance 2020 proof-of-concept interventions by over 30 times through mid-scale pilots led by field-based, full-time agronomists who use handheld tablets to digitally on-board farmers onto HBL Pay. Pilot projects of over 3,200 acres (maize crop) were completed and over 7,200 acres (rice crop) will be completed with the harvest in October, followed by the wheat and potatoes pilots in Q3 over 7,000 acres.

HBL Corporate, Commercial & Investment Banking Group closed a first of its kind Syndicated Transaction of Rs 7.5 billion to develop a real estate project. Additionally, the Bank also closed the largest rights issue in the domestic corporate sector of Rs 11.6 billion. The Bank continues to pursue infrastructure projects under the Public Private Partnership (PPP) mode.

HBL’s presence in China has also played a significant role in enhancing trade flows as over 43% of CNY trade has been routed through HBL China, delivering on the strategy of developing trade corridors utilizing the Bank’s network presence.

Q3 2021 saw the Bank celebrate the 50th Anniversary of the HBL Plaza building, an iconic landmark of the country.

HBL in collaboration with the Government of Sindh set up a COVID-19 Drive-through Vaccination Facility in Karachi. More than 28,000 citizens have so far been vaccinated. The Bank remains committed to the Government of Pakistan’s vision of Sustainable Development; during Q3 2021, as its contribution to the 10 billion Tree Plantation initiative, HBL commenced a plantation drive with the Federal Minister for Climate Change and members of the diplomatic community.

During Q3 2021, HBL won multiple awards from international and local publications/platforms. These include, among others, the awards for contribution to the Roshan Digital Account initiative, Equity Deal of the Year, Best Acquisition Financing, Best Corporate Sukuk and the Environment Excellence Award. Moreover, the Bank also won the Best Mobile Bank Application Award and was also recognized as the # 1 Primary Dealer in Government Securities by the State Bank of Pakistan (SBP) for a second year in a row.