Meezan Bank Named Pakistan’s Best Bank for the 6th time

Meezan Bank Limited has once again been named Pakistan’s Best Bank, securing the title for the sixth time at the 11th Pakistan Banking Awards. Bank of Punjab emerged as the event’s most successful institution across multiple categories, taking home three awards.

The awards ceremony was held in Karachi on Friday, where Meezan Bank also received the Best Bank for Customer Engagement award.

In a post on X, Meezan Bank celebrated the recognition, noting that it had been named Pakistan’s Best Bank for the sixth time and for the fourth consecutive year.

Bank of Punjab secured awards in three areas: Women’s Inclusion, SME Banking and Agriculture Inclusion.

BOP President and CEO Zafar Masud said the bank had won the Women, Agriculture and SME Inclusion categories for four consecutive years. He said the institution would now withdraw from competing in those three categories to give other banks an opportunity to receive recognition, while continuing to compete in the remaining four categories, including Best Bank.

Habib Bank Limited received the Best Bank for Environmental, Social and Governance (ESG) award, while Bank Alfalah was recognised for Digital Excellence.

Faysal Bank and Askari Bank jointly received the Best Mid-Sized Bank award. Pakistan Microfinance Investment Company Limited was honoured for Best Contribution by a Non-Bank Entity, while ASA Microfinance Bank Limited secured the Best Microfinance Bank title.

The Pakistan Banks Association congratulated all winners of the 11th Pakistan Banking Awards, saying the results demonstrated the sector’s ongoing emphasis on innovation, excellence and development.

The awards considered both banks and non-bank financial institutions. Jury Chairperson Zubyr Soomro highlighted the challenge of selecting winners, particularly in the highly competitive Best Bank category, before Meezan Bank was announced as the recipient.

State Bank of Pakistan Governor Jameel Ahmad also addressed challenges confronting the banking industry amid current economic conditions and regional tensions. He said Pakistan’s banking sector remained in a relatively strong position but identified limited private-sector credit as a major concern, noting that lending to the private sector was around half the level recorded in Bangladesh.

According to the SBP governor, lower government borrowing requirements could provide banks with greater capacity to extend financing to private businesses. He also called for faster digital transformation across the banking industry.