Karachi (Muhammad Yasir) Bank Alfalah Limited, one of the leading commercial banks in Pakistan, achieved two significant milestones with the launch of its 1000th branch and the surpassing PKR 2 trillion deposits, reflecting its enduring commitment to growth and further solidifying its position as a leading financial institution in the country’s banking sector.
The launch of the 1000th branch signifies a remarkable journey. Over 26 years ago, starting in 1997, when esteemed investors from Abu Dhabi, led by the Chairman, His Excellency Sheikh Nahayan Mabarak Al Nahayan, acquired three(3) branches of Habib Credit and Exchange Bank Limited in Karachi, Lahore, and Rawalpindi. With the vision to transform the banking landscape in Pakistan and improve access to finance, the institution was renamed ‘Bank Alfalah’, which has consistently prioritised innovation and customer-centricity for over two decades.
The significant milestone of surpassing PKR 2 trillion in deposits was achieved within only two and a half years after the Bank reached the PKR 1 trillion deposits mark. During this time, challenging economic conditions prevailed both nationally and internationally. Nevertheless, the Bank’s sturdy growth is a resounding testament to the dedication and resilience of the colleagues for outperforming in testing times.
Brimming with pride on this momentous occasion, the man who envisioned the dream of Bank Alfalah more than two decades ago, His Excellency Sheikh Nahayan Mabarak Al Nahayan, Chairman, said, “Over two decades ago, we had believed in the transformation in Pakistan’s banking sector, today that dream has been materialised as we have evolved into a leading force in the banking industry. Upon inaugurating our 1000th branch and surpassing PKR 2 trillion deposits, I reflect on the enduring values of customer-centricity and innovation that have made Bank Alfalah synonymous with progress. I want to thank the Government of Pakistan and the esteemed State Bank of Pakistan for their invaluable support throughout our journey. We remain resolute in our dedication to the well-being of the people of Pakistan and our relentless pursuit of advancing the nation’s prosperity.”
Atif Bajwa, President and CEO of Bank Alfalah, took pride in the Bank’s journey as a testament to its commitment to excellence. ‘Reaching the landmark of our 1000th branch and surpassing the milestone of PKR 2 trillion deposits, we reflect on our persistent efforts in transforming the banking landscape and reaffirm our resolve to focus on people’s banking needs by reimagining a digital future. Our recent digital service strides highlight our dedication to innovative solutions redefining the banking landscape in Pakistan.’
Today, Bank Alfalah is a prominent financial institution excelling in Commercial, Retail, Islamic, Corporate Investment and Digital banking services, driven by its dedication to delivering exceptional customer experiences and enhancing the financial inclusion of people in Pakistan. The Bank’s commitment extends to collaborative efforts with public, private, and civil society stakeholders, reinforcing its role as the ‘Caring Bank’.
In 2022, Bank Alfalah became the largest corporate donor to communities affected by devastating floods. This noble initiative aims to facilitate the return to normalcy for those residing in areas severely impacted by flood disasters.
Bank Alfalah has been at the forefront of digital banking, pioneering inclusive and hassle-free experiences. It has introduced diverse services that aim to facilitate consumers’ managing their finances conveniently, either at a branch or from the comfort of their homes.
Bank Alfalah remains at the forefront of innovation, continuously striving to enhance the digital banking experience. The launch of ‘Pakistan’s First Digital Lifestyle Branch’ marked a significant achievement for the Bank, showcasing its dedication to integrating digital innovation into various aspects of daily life. Furthermore, the recent inauguration of the ‘Digital Payment-Sales and Service Centres’ demonstrates the institution’s commitment to empowering merchants and small-scale businesses to conduct automated payments. This strategic move simplifies financial transactions and contributes significantly to the growth of financial inclusion in Pakistan.