The ceremony to award banks based on their performance was held recently.
The Dawn Media Group in partnership with The Institute of Bankers Pakistan held The Pakistan Banking Awards. The ceremony was further collaborated by A.F. Ferguson & Co which is a member of PWC global network.
These awards are held in recognition of the progress being made by the Financial and Banking sector to assist in the development of our national economy.
The cream of the crop of the banking sector of Pakistan attended this ceremony. The chief guest of the ceremony was the Governor of the State Bank of Pakistan who is President of IBP.
Three of the awards, Best Bank for Small and Medium Business, Best Customer Franchise Bank and Best Customer Bank, were received by Habib Bank Limited.
KhushHali Bank bagged the Best Micro Finance Bank Award and the Best Bank for Agriculture Award went to National Bank.
The Best Emerging Bank 2020 award was presented to Faysal Bank. Karandaaz and Akhoowat were both awarded the Most Innovative Business Award.
The Chief Guest of the Award Ceremony, the Governor of the State Bank of Pakistan, gave the awards at the 5th Pakistan Banking Awards held on Friday. In the Award Ceremony Habib Bank Ltd (HBL) was the winner of three awards in three different sectors and Meezan Bank Limited was the recipient of the award of the Best Bank of Pakistan for the year 2020.
Starting on an optimistic note, the chief guest gave a detailed account of the role played by the central bank and other financial institutions in facing the challenges due to the Covid-19 and improving the economy despite them. He further said that in spite of losing many precious lives this pandemic has brought us closer together even more than before.
He went on to say that this situation has also given us an opportunity to make plans that would help the people and economy of this country. He said that the State Bank and the rest of the banks of the country, had kept the economy running and helped the people to earn their livelihoods.
Reza noted that the State Bank’s scheme to provide loans in different categories has proven beneficial to almost 90 percent of the small businesses. Reza commented optimistically that the country will hopefully face and defeat the second wave of CoronaVirus as they had done with the first one.
The most prestigious award in banking was awarded to Meezan Bank as it was recognized as the Best Bank in Pakistan in the Pakistan Banking Awards 2020. The bank has been previously recognized as the Best Bank in 2018.
The First Pakistan Banking Awards were held in 2016 in which United Bank won the Best Bank of Pakistan Award. In the Pakistan Banking Awards 2017 this award was taken by Bank Alfalah and in the third ceremony, the Best Bank of Pakistan was won by Meezan Bank. And in the 2019 Awards Ceremony this award was taken by Habib Bank Limited (HBL).
Following is the summary of the awards:
|Meezan Bank||Best Bank of Pakistan|
|Habib Bank Limited||Best Bank for Small and Medium Business|
|Best Customer Franchise Bank.|
|Best Customer Bank.|
|Khushhali Bank||Best Microfinance Bank.|
|National Bank||Best Bank for Agriculture.|
|Faysal Bank||Best Emerging Bank.|
|Karandaaz||Most Innovative Business.|
|Akhuwat||Most Innovative Business.|