Profitable Banks of Pakistan
There are many scheduled banks in Pakistan, which are providing quality services to their clients. The banks have faced the most challenging year of 2018 because of stiff competition, operational and regulatory issues and there are some banks, which have outperformed despite of all these issues and they have maintained growth in profits and they have expanded their business at the same time. Top 10 Most Profitable Banks of Pakistan.
The operational strategies of banks are shown through their balance sheets and bottom lines and they showed the performance of banks and their positions in overall industry. The financial results of 2018 were declared in recent weeks and it was revealed that the position of the banks has been changed dramatically through their profits in overall banking industry. You can find the detailed information regarding top ten profitable banks of Pakistan.
1. MCB Bank
MCB Bank was declared the most profitable bank of Pakistan during 2018. The bank has gained its first position and it has replaced United Bank Limited, who was at the top.
The bank has gained the profit of Rs.21.36 billion in 2018 and it is 4.8 percent less than profit of 2017 but this figure is remained at the top in the banking industry.
2. National Bank of Pakistan
National Bank of Pakistan has gained second position in banking industry by getting more profitability. NBP has recorded profit of Rs.20 billion in 2018 against its profit of Rs.22.3 billion in 2017. The profitability of bank was affected by huge loan losses in outgoing year and brought the bottom line of bank at same time.
NBP has done some records in the same year and it has become the first bank to cross the mark of Rs. 2 trillion in deposits. It has earned highest revenue of Rs.96.9 billion, which is highest ever in last 7 decades of the operational history of the bank.
3. United Bank Limited
United Bank Limited was declared the top bank of Pakistan in 2017 but this bank failed to retain its top position in 2018. Now this bank is present at the third position in terms of profit in the banking industry.
UBL has gained the profit of Rs.15 billion in 2018 against Rs.25 billion in 2017. It shows their huge loss of Rs.10 billion in a year in its profitability and it has impacted on the industry. The steep decline in profit was made because of their non-performing loans like operational loss, which is suffered by bank because of closure of the New York branch.
The UBL has posted the highest ever profit of Rs.27.7 billion and it has remained at number 2 after HBL. The profit of the bank was declined in past three years.
4. Allied Bank Limited
Allied Bank Limited has maintained its position at no.4 in banking industry and it also recorded slight growth in profitability in 2018. The bank has recorded the profit of Rs.13 billion in 2018 with less than one percent growth if you compare it to 2017.
The bank has strengthened its footing in banking sector to enhance its operations and profit in 2019 to show the sustainability in operations, business and profitability.
5. Habib Bank Limited
Habib Bank Limited was the leading bank in past years but now HBL is present at No. 5 in the banking industry. The bank has earned the profit of Rs.12.4 billion in 2018 with healthy growth of 41 percent as compared to 2017.
Now the bank is aggressively working to get the previous leading position in banking industry and the profit of 2018 is not even half of profit, it has gained in 2016, which is Rs.34 billion, and it is highest ever in banking industry history.
6. Standard Chartered Bank
Standard Chartered Bank has gained the sixth position in profitability in 2018 and this bank has made highest ever profit of Rs.11.2 billion in 2018. The bank was positioned at 8 in 2017 with the total profit of Rs.8.24 billion. In terms of profitability, its competitors such like Bank Alfalah and Bank Al Habib were standing ahead of it.
This bank has maintained wonderful business and operational strategy and it has gained the positive outcomes and it gets outstanding profitability in 2018.
7. Bank AlFalah Limited
Bank AlFalah Limited has maintained the profitability in 2018 and the bank got the 7 position in banking list. The bank has recorded over Rs.10 billion in 2018 as against Rs.8.61 billion profit, which was reported in 2017. This bank has gained the highest ever profit since it has been working in Pakistan.
8. Meezan Bank
Meezan Bank is present at No. 8 with the profit of Rs.8.96 billion and it is the highest ever profit of the bank. The bank has shown impressive growth in this year, which has 42% growth over 2017. The position of the bank is improved with the increase of Rs.2.64 billion in profit in 2018. The bank has left Bank Al Habib behind in terms of profitability and it is standing ahead of Islamic bank.
9. Bank Al Habib Limited
The position of Bank Al Habib was dropped from eight to nine in 2018. The profit of the bank was declined by 1.4% in 2018 and it is standing at Rs.8.41 billion, which was the first time, the bank showed the profit with its negative growth.
The bank has recorded its highest ever profit of Rs.8.5 billion in 2017. Meezan Bank has replaced its position in 2018 and now it is present at No. 9 position.
10. Bank of Punjab
Bank of Punjab has gained the No. 10 position and the bank has posted the profit of Rs.7.6 billion in 2018 because of supporting the tax rebates and reversal of provision. The bank showed the loss of Rs.3.3 billion in 2017 but now it was the surprised addition and it has converted its losses into profitability in each quarter of outgoing year. The government has supported to take the bank out of the financial crisis.
Top 10 Most Profitable Banks of Pakistan,
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