Meezan Best emerged as the Bank of Pakistan for the second year in a row while Bank Alfalah and Bank of Punjab led the field with two awards each at Pakistan Banking Awards 2024.
The ninth Pakistan Banking Awards 2024 were held Friday evening with State Bank Governor Jameel Ahmad as the chief guest.
Governor Ahmad highlighted the critical role of financial institutions in economic growth, emphasizing the need for greater innovation and outreach to underserved sectors like retail. Banks should think of out-of-the-box solutions to empower the nation financially, Ahmad said, emphasizing that financial inclusion and support for Small and Medium Enterprises (SMEs) are essential for long-term growth.
Meezan Bank declared ‘best bank’ for second consecutive year
Meezan Bank was recognized as the Best Bank of Pakistan for the second year in a row and the fourth time (2018, 2020, 2023 and 2024) by Pakistan Banking Awards.
“Meezan is the only bank in Pakistan to have received this prestigious recognition four times. We are thankful to Allah SWT for His countless blessings upon us and the undying support of all our customers, staff and all those who have contributed to this achievement,” Meezan Bank said in a statement.
Mobilink Bank named ‘best microfinance bank’
Pakistan’s leading digital microfinance institution, Mobilink Bank was honored as the ‘Best Microfinance Bank’ at the Pakistan Banking Awards 2024.
Commenting on the achievement, CEO Jazz and Chairman, Mobilink Bank, Aamir Ibrahim said, “This award is a testament to the trust placed in Mobilink Bank by millions of Pakistanis and reflects our collective mission to uplift society through financial inclusion. This recognition resonates with our ongoing efforts to foster economic growth, resilience, and progress across the country.”
He added that the recognition highlights the Bank’s pivotal role in advancing financial inclusion and digital empowerment, and underscores its prowess in leveraging innovative fintech solutions to shape a digitally future-ready Pakistan.
Interim CEO Mobilink Bank, Haaris Mahmood Chaudhary said, “The award is an honor that reflects our unwavering commitment to empowering small businesses, women, and underserved communities through innovative, digital banking solutions that drive meaningful change. Looking forward, we remain committed to expanding access and creating lasting opportunities for those who need it most, as we work towards building a more inclusive, future-ready digital financial ecosystem for fostering sustainable growth and economic progress.”
Pakistan Banking Awards 2024 winners
- Best Bank Award: Meezan Bank Limited (second consecutive year).
- Best Bank for Digital Excellence: Bank Alfalah.
- Best Bank for Customer Engagement: Bank Alfalah.
- Best Bank for Women’s Inclusion: Bank of Punjab.
- Best Bank for Agriculture: Bank of Punjab.
- Best Bank for SMEs: Habib Bank Limited.
- Best Microfinance Bank: Mobilink Microfinance Bank.
The awards aim to recognize and promote excellence, innovation, and greater financial inclusion in Pakistan’s banking industry, which serves a population of 240 million.
Focus on Digital and Inclusive Banking
The awards, organized by the Institute of Bankers Pakistan (IBP) in collaboration with The DAWN Media Group and A.F. Ferguson & Co., recognized achievements in digital transformation, customer engagement, and inclusivity.
The State Bank governor also pointed out the low penetration of banking services in the population and urged institutions to leverage the widespread use of mobile phones to enhance financial inclusion. Despite economic challenges, Ahmad praised the banking sector’s resilience and its continued support for the economy.
In his welcome address, CEO of the National Institute of Banking & Finance, Riaz Nazarali Chunara, lauded the banking sector’s efforts to enhance financial services and its contributions to national prosperity and inclusion.