Bank Alfalah was granted the award for best bank in Pakistan in 2017 for “the most significant contribution to national development and the most effective management of its resources. Thus Bank Alfalah tops the list of best banks in Pakistan.
Considering the fact that Pakistan is an Islamic country, Meezan Bank is the best Islamic bank in Pakistan. It is known for Islamic banking and thus it tops the list.
National Bank of Pakistan:
The bank has maintained its position as Pakistan’s head of state bank. The bank also won the award for Pakistan Domestic Project Finance Bank of the year 2017.
Habib Bank is one of the biggest banks in Pakistan, it is largest in terms of assets. This year the bank did lose its reputation a bit as its only branch in the USA was penalized and closed. Despite this HBL has a stronghold and position in Pakistan.
MCB is one of the oldest and leading banks in Pakistan. In terms of assets, it is the second biggest bank in the country. Recently MCB also won the award for Pakistan’s best investment bank.
Read more: MCB, the best investment bank of Pakistan
The banks chosen as the top five in Pakistan are in terms of awards given to them in 2017, their assets and contribution for Pakistan. There is tough competition in the banking sector of Pakistan, thus categorizing one as better than the other is not easy. Askari Bank, Allied Bank, Standard Chartered, Telenor Microfinance bank, Bank Al Habib, Faysal Bank are also few big names in Pakistan banking sector.
Point to ponder
The above-mentioned banks ranking is just a theory, the ranking is based on awards, the number of branches, payments processed, products offered.
Practically if you are looking for quality service you will find no other bank than Standard Chartered. it is the no: 1 bank in Pakistan as far as quality of service is concerned.