Euromoney awards HBL the dual accolades of ‘Asia’s Best Bank Transformation 2020’ and ‘Pakistan’s Best Bank 2020’ for another year running.
Key elements that helped HBL win these awards were HBL’s work in the sphere of digitalization and the bank’s growing presence in China and its business initiatives with Chinese corporates and financial institutions.
LEADING THE TRANSFORMATION:
- HBL digitally disbursed more than $750 million (Rs125 billion) to over 10 million Pakistani households under the Government of Pakistan’s Ehsaas Emergency Cash Programme for Covid-19 relief.
- HBL is a regional banking powerhouse, with branch presence in China and leadership role in the CPEC projects.
Commenting on the award, HBL President & CEO Muhammad Aurangzeb said, “This accolade reflects the strides HBL has made in its pivot towards becoming a ‘technology company with a banking license’.
“HBL’s digital banking platform, HBL Konnect, has over 4 million customers, 25pc of whom are women, thus driving the country’s and the bank’s financial inclusion agenda. HBL and the Government of Pakistan joined forces to enable the delivery of the ‘Ehsaas’ Emergency Cash programme as part of the Covid-19 relief efforts. A remarkable Public-Private partnership, HBL disbursed over $750 million to more than 10 million Pakistani households through HBL Konnect.
“Internationally, HBL is the first Pakistani bank and one of the only three banks from the South Asia and MENA region to offer end-to-end RMB intermediation with a branch presence in Urumqi and soon to open a branch in Beijing. As the largest executor of CPEC related financing, China is going to be the linchpin of our regional bank strategy, not only in terms of our business book in China, but also if China wants to take their Belt and Road Initiative either through our branch network or our affiliates, to the regions where HBL has a presence.”
Euromoney is a global English-language publication focused on business and finance.