Askari Bank

Askari Bank Ltd (عسکری بینک لیمٹڈ) (formerly Askari Commercial Bank) is a commercial and retail bank in Pakistan and is owned by Fauji Foundation.[2]

Askari Bank Limited عسکری بینک لیمٹڈ
FormerlyAskari Commercial Bank
TypePublic limited company
PSX: AKBL
IndustryBanking
FoundedOctober 9, 1991 (1991-10-09)
HeadquartersRawalpindi, Pakistan
Key people
Mr. Abid Sattar, President & CE
Number of employees
7,279 (2009)[1]
ParentFauji Foundation
Websitewww.askaribank.com

It was founded on October 9, 1991, as a Public Limited Company. On June 21, 2013, the bank was acquired by Fauji Group.[3] The Bank is listed on the Pakistan Stock Exchange (PSX) and was also listed on the stock exchanges of Karachi, Lahore and Islamabad before their merger to form the single unified Pakistan Stock Exchange (PSX). The bank acquired its license (License No. BL-7) under s.27 of Banking Companies Ordinance, 1962 from State Bank of Pakistan on 13 February 1992. The license was issued by Mr. Saeed Haider Bhatti.

Branches

Askari Bank has 535 branches across Pakistan and a wholesale bank branch in Bahrain.[4]

Askari Securities

Askari Securities was founded in 1999. Askari Bank had acquired 26% shareholding of Askari Securities which results in 100% ownership of its previously only partially owned subsidiary.[4]

Locations of Askari Bank Ltd branches in Pakistan

Awards and recognitions
  • The Asian Banker awarded twice as “Best Retail Bank in Pakistan” in 2004 and 2005.[5]
  • Askari Bank also has been given the “Best Consumer Internet Bank” award by Global Finance magazine for the years 2002 and 2003.[6]

See also

References
  1. Askari Financials 2009
  2. Baker, Raymond (2005). Capitalism's Achilles heel: Dirty Money and How to Renew the Free-market System. John Wiley and Sons (GoogleBooks). pp. 82–83. ISBN 978-0-471-64488-0. Retrieved 30 July 2017. nawaz sharif ittefaq.
  3. "Fauji Foundation to acquire Askari Bank's 100pc shares". The Nation. 19 January 2012.
  4. Profit (2020-09-26). "Askari Securities is now a wholly owned subsidiary of Askari Bank". Profit by Pakistan Today. Retrieved 2020-09-30.
  5. "The Excellence in Retail Financial Services International Awards". asianbankerforums.com.
  6. "Features : The World's Best Internet Banks, 2004". Global Finance Magazine.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.