Pakistan

National Bank of Pakistan is regarded by some rivals as one to start watching closely when it comes to its corporate and investment banking franchise, thanks to efforts to transform it from a staid, balance sheet-led state-owned bank to a modern and more independent firm.

Habib Bank’s rapid growth, despite the disruption of Covid-19, is nothing short of remarkable. Total income in 2020 jumped 28% to $1 billion, while profits before tax soared 83% to $331.8 million. Net assets rose about 18% to $1.7 billion.

The 31st annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, hedge fund & private equity firms, insurance companies and wealth management houses in Asia, Europe and North America.

The country is now in the grip of another bailout programme and Reza Baqir, the new central bank governor, sees parallels for the nation from his last job at the fund.

Last year was a big one for JS Bank when it came to corporate and social responsibility.

JS Bank does not even rank among the top 10 largest banks in Pakistan, but when it comes to lending to small and medium-sized enterprises, it is up there in the top three by size.

United Bank Limited (UBL) had a remarkable performance in 2019 thanks to the digital strategy it put in place about 18 months ago.

Credit Suisse is a pioneer in Pakistan: it is one of the first bulge-bracket investment banks to start coverage of the south Asian country.

Arif Habib Limited is among the leading brokerages and investment banking firms in Pakistan. During Asiamoney’s awards period, the non-banking finance company made its mark in corporate finance and advisory, even though growth concerns and rising debt put pressure on the economy.