Askari Bank Ltd.

Overview

Date Founded

1991

Headquarters

AWT Plaza,The Mall,Rawalpindi, Punjab 46000

Type of Company

Public

Employees (Worldwide)

7,848

Industries

Retail & Commercial Banking
Holding Companies

Company Description

Askari Bank Ltd. engages in the provision of banking and financial services. It operates its business through the following segments: Branch Banking, Corporate Banking, Treasury, Consumer Banking, Islamic Banking, Foreign Operations and Others. The Branch Banking segment consists of loans, deposits and other banking services to commercial, small and medium enterprise, agriculture and individual customers, including branchless banking services. The Corporate Banking segment ncludes project financing, trade financing and working capital to corporate customers. It also involves in investment banking activities such as mergers and acquisition, underwriting, privatization, securitization, initial public offerings related activities and secondary private placements. The Treasury segment engages in money market activities, foreign exchange business and short term lendings and borrowings from counter-parties. The Consumer Banking segment provides secured and unsecured loans to retail customers. The Islamic Banking segment provides banking services. The Foreign Operations segment consist of banking activities performed by Wholesale Bank Branch of the Bank. The Others segment consists of activities not performed by any of above segments. The company was founded on October 9, 1991 and is headquartered in Islamabad, Pakistan.

Website

http://www.akbl.com.pk

In The News

Marketline Newswire

April 14, 2020

Askari Bank Pakistan partners Mastercard to launch new payments products

PR Newswire

November 19, 2019

Askari Bank Selects Finastra to Power its Trade Finance Business; Fusion Trade Innovation to automate end-to-end trade finance operations and generate new revenue streams

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Executives & Employees

Abid Sattar

President & Chief Executive

Saleem Anwar

Chief Financial Officer & Senior Executive Vice President

Shahid Abbasi

Executive Vice President & Chief Internal Auditor

Farrukh Iqbal Khan

Chief Credit Officer

Sher Afgan Khanzada

Senior Vice President & Regional General Manager, North

Saulat Hameed

Senior Vice President & Acting Regional General Manager, Central

Waqar Ul Islam

Executive Vice President & Regional General Manager, South

Zahid Hassan Qureshi

Vice President & Country Head, Special Asset Management Division

Fahd Sardar Khan

Executive Vice President, Country Head-Islamic Banking Services Division

Asim Bashir

Vice President & Country Head, Alternate Delivery Channels Division

Board of Directors

Manzoor Ahmad

Chief Operating Officer & Managing Director at National Investment Trust Ltd.

Abid Sattar

President & Chief Executive at Askari Bank Ltd.

Nadeem Inayat

Head-Investment Division at Fauji Foundation

M. Ahmed Ghazali Marghoob

Former Chief Financial Officer at SME Bank Limited

Tariq Khan

CE&Md at Fauji Fertilizer Co. Ltd.

Mushtaq Malik

Former Federal Secretary at Board of Investment Pakistan

Saleem Ahmed Moeen

Independent Director at Askari Bank Ltd.

Waqar Ahmed Malik

Chief Executive Officer & Managing Director at Fauji Foundation

Sarfaraz Ahmed Rehman

Chief Executive Officer, Executive Director & Managing Director at Fauji Fertilizer Bin Qasim Ltd.

Qamar Haris Manzoor

Chief Executive Officer, Director & Managing Director at Fauji Cement Co. Ltd.

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Askari Bank Ltd.

Owners & Shareholders

Details Hidden

National Investment Trust Ltd.

The National Investment Unit Trust (NIUT) is the Pakistan’s largest and oldest Mutual Fund. As on June 30, 2012, NIUT had funds under management of around Rs. 41.487 billion invested in over 425 listed companies and had approximately 54,218 unit holders. NITL's distribution network comprises of 22 NIT branches, various Authorized bank branches all over Pakistan and Arab Emirates Investment Bank (AEIB) in Dubai (UAE). The Trust constituted under the Trust Deed dated 12th November 1962, executed between National Investment Trust Ltd (NITL) as Management Company and National Bank of Pakistan as Trustee.

Details Hidden

Lakson Investments Ltd.

Lakson Investments seeks to deliver superior performance as measured by market share parameters, high-quality service and a portfolio of innovative yet tailored products across a range of investment disciplines and distribution channels. They aim to provide growth capital to new and growing private companies in Pakistan that they believe offer the greatest upside and future profitability in the Private Equity and Venture Capital space. The firm employs fundamental bottom-up analysis to uncover undervalued stocks and bonds in the Public Equity and Debt markets. Lakson Investments utilizes top-down view on macroeconomic environment to identify major investment themes. Their research team assists the Investment Committee in investment decisions.

Details Hidden

Habib Asset Management Ltd.

Habib Asset Management Ltd. (HAM) is the mutual fund management subsidiary of Bank Al Habib Ltd. (BAHL). The firm is headquartered in Karachi and was founded in 2005. HAM provides investment management services to mutual funds.

Recent Transactions

Details Hidden

Pak Oman Asset Management Co. Ltd. purchases Askari Investment Management Ltd. from Askari Bank Ltd.

Details Hidden

Askari Bank Ltd. /Private Group purchases Askari Bank Ltd.

Clients

Jubilee Life Insurance

Jubilee Life Insurance Co. Ltd. engages in the provision of life insurance, carrying on non-participating business. The company operates in the following segments: Individual Life Unit Linked, Conventional Business, Accident & Health, Overseas Group Life & Health, Individual Family Takaful, Group Family Takaful, and Accident & Health Family Takaful. The Individual Life Unit Linked segment provides life insurance coverage to individuals under unit based policies issued by the company. The Conventional Business segment includes individual life conventional and group life. The Accident & Health Business segment offers personal accident coverage to individuals and inpatient and outpatient health coverage to member enterprises, corporate entities, and common interest groups under group health insurance schemes. The Overseas Group Life and Health segment comprises of s life insurance coverage and inpatient and outpatient health coverage to overseas corporate entities under overseas group life and health policies. The Individual Family Takaful segment offers unit linked takaful plans, which provide shariah compliant financial protection and investment vehicle to individual participants. The Group Family Takaful segment contracts are issued typically on yearly renewable term basis. The Accident & Health Family Takaful segment contracts are mainly issued to employers to insure their commitments to employees. The company was founded on June 29, 1995 and is headquartered in Karachi, Pakistan.

Key Stats and Financials As of 2020

Market Capitalization

$193M

Total Enterprise Value

$235M

Earnings Per Share

$0.06

Three Year Compounded Annual Growth Rate Of Revenue

27.02%

Revenue

$563M

Net Profit

$70M

Suppliers

EFU Life Assurance Ltd. Insurance: Life & Health | Karachi, Pakistan

EFU Life Assurance Ltd. engages in the provision of life insurance. It operates through the Family Takaful Investment Linked Business and Family Takaful Protection Business segments. The Family Takaful Investment Linked Business segment provides family takaful coverage to individuals under unit-linked policies. The Family Takaful Protection Business segment offers family takaful coverage to member of business enterprises, corporate entities, and common interest groups under group family takaful scheme operated by the company. The company was founded on August 9, 1992 and is headquartered in Karachi, Pakistan.

Finastra Group Holdings Ltd. Holding Companies | London, United Kingdom

Finastra Group Holdings Ltd. engages in the provision of financial software solutions. The company was founded on March 29, 1978 and is headquartered in London, the United Kingdom.

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