Bank Alfalah Limited, a leading commercial bank in Pakistan, has achieved two major milestones by inaugurating its 1000th branch and surpassing PKR 2 trillion in deposits. These achievements underscore the bank’s enduring commitment to growth and solidify its position as a prominent financial institution in Pakistan’s banking sector.
The journey began over 26 years ago in 1997 when esteemed investors from Abu Dhabi, led by Chairman Sheikh Nahayan Mabarak Al Nahayan, acquired three branches of Habib Credit and Exchange Bank Limited. The institution was renamed ‘Bank Alfalah’ with a vision to transform the banking landscape and enhance access to finance, prioritizing innovation and customer-centricity for over two decades.
Surpassing PKR 2 trillion in deposits was accomplished within two and a half years after reaching the PKR 1 trillion mark, showcasing the bank’s robust growth amid challenging economic conditions. Chairman Sheikh Nahayan Mabarak Al Nahayan expressed pride in the bank’s evolution and thanked the Government of Pakistan and the State Bank of Pakistan for their support.
Atif Bajwa, President and CEO of Bank Alfalah, emphasized the bank’s commitment to excellence and innovation. He highlighted the dedication to reimagining a digital future, with recent strides in digital services demonstrating a focus on transforming the banking landscape in Pakistan.
Bank Alfalah, excelling in Commercial, Retail, Islamic, Corporate Investment, and Digital banking services, is committed to delivering exceptional customer experiences and enhancing financial inclusion. In 2022, it became the largest corporate donor to communities affected by floods, aiming to facilitate a return to normalcy for those impacted. The bank remains at the forefront of digital banking, introducing diverse services for convenient financial management.
The launch of ‘Pakistan’s First Digital Lifestyle Branch’ and the inauguration of ‘Digital Payment-Sales and Service Centres’ showcase the bank’s dedication to integrating digital innovation into daily life. These initiatives empower merchants and small-scale businesses, contributing significantly to the growth of financial inclusion in Pakistan.
