Tag: HBL

Karachi, August 22, 2022 (PPI-OT):InfraZamin Pakistan’s partial credit risk guarantee cover of PKR 1,575 million (US$7.6 million) on the Digital Infrastructure Facility will effectively de-risk the majority of credit risks of this project expansion. This is InfraZamin’s first transaction in Pakistan and paves the way forward for deeper market development via credit guarantees.

HBL will facilitate Multinet to access 7-Year long-term funding in expanding their fibre optic network to under-served cities and populations, enable a wider reach for internet access via fibre for Small and Medium Enterprises and reduce the cost of carrying broadband traffic from one city to the other thereby improving cost-effective data and broadband penetration in Pakistan.

In addition to these positive developmental impacts, the project is also expected to create additional jobs of which 20% will be allocated specifically to women. Multinet has also chosen to adopt best practices in Health and Safety standards and will work on a long-term basis with an independent Health and Safety advisor to ensure worker safety and protection during network rollout. The company will continue to engage with InfraZamin to ensure continued capacity building and training in this area.

The project also envisages improved corporate governance, disclosure and transparency standards for Multinet which is a welcome step towards better governance standards in private unlisted companies.

Commenting on the occasion, Aamir Irshad, Head Corporate, Commercial and Investment Banking Group – HBL, said, “HBL is a strong advocate for technological advancements and has shown its continued support for the development of digital infrastructure by extending a Infrazamin credit guarantee backed loan facility of PKR 2.1 billion to Multinet. We believe this facility will go a long way in augmenting internet and data access to second and third tier cities of Pakistan along with improving the capacity and quality of internet for Mobile Network Operators, Internet Service Providers and SMEs.”

Commenting on the occasion, Maheen Rahman, CEO – InfraZamin, said, “The transaction is one step further towards mobilising investments from the private sector for boosting economic growth and covering the infrastructure gap in frontier markets. We are grateful to HBL Bank for their vision and support throughout this transaction process and look forward to seeing Multinet achieve their business expansion goals. This project caters to Pakistan’s dynamic and growing digital sector and we are happy to lend our support towards realising Pakistan’s vision towards greater digital access and inclusion.”

Commenting on the occasion, Adnan Asder, CEO – Multinet, said, “IZP credit guarantee facility played an instrumental role in obtaining PKR 2,100 million long-term loan facility from Habib Bank Limited. The said funding will assist Multinet in doubling its data centres capacity, enhancing long-haul network transmission capacity, expanding metro footprint for tower fiberization and meeting SMEs ICT services requirements. This transaction will help Multinet in achieving its strategic goals by expanding the telecom infrastructure in the country. This would lead to enhancement of state-of-the-art facilities of fiber infrastructure to the customers and supporting other stakeholders for 5G inclusion in Pakistan. We are appreciative of InfraZamin for extending their support along with HBL Bank who share a similar vision for growth of the digital sector in Pakistan”.

For more information, contact:
Habib Bank Limited (HBL)
Habib Bank Plaza, I.I. Chundrigar Road,
Karachi – 75650, Pakistan
Tel: +92-21-32418000 (50 lines)
Fax: +92-21-39217511
Website: https://www.hbl.com/

The post InfraZamin and HBL facilitates Multinet for greater digital reach and transmission across Pakistan appeared first on Business News Pakistan.

Quetta, July 22, 2022 (PPI-OT):HBL inaugurated its new Prestige Lounge located in Quetta. This is the 1st HBL Prestige Lounge in the city, making a total of 32 lounges across 13 cities, with plans to further expand the Prestige footprint. The inauguration of the lounge was done by Jan Muhammad Jamali, Acting Governor, Balochistan and Muhammad Aurangzeb, President and CEO – HBL. The Bank’s valued clients, dignitaries and senior leaders were also present on the occasion.​

HBL Prestige provides a world-class banking experience to high-net-worth individuals (HNWIs). This exclusive proposition offers tailored solutions through dedicated digital and physical channels and portfolio managers who provide personalized banking services to its clients. The state-of-the-art Prestige Lounges are located strategically in high visibility areas of key cities.​

​Commenting on the occasion, Muhammad Aurangzeb, President and CEO – HBL said, “HBL is committed to working with the Provincial Government of Balochistan and SBP for the development of Balochistan. ​As the designated “Champion Bank for Balochistan” by SBP to promote Agriculture in the province, the Bank is playing an active role in improving financial inclusion. This is being done by conducting awareness sessions and the issuance of the Kissan Card to offer subsidy payments by Govt. of Balochistan to the farmer community in the province.

HBL offers a wide array of financial products and services to its clientele. HBL Prestige is exclusively designed and tailored to meet the financial and lifestyle needs of our high-net-worth clients across Pakistan. We are delighted to bring the Prestige proposition to Balochistan and inaugurate our state-of-the-art HBL Prestige Lounge in Quetta. We hope to remain true to HBL Prestige’s motto of ‘With you, in what you value’.”​

For more information, contact:
Habib Bank Limited (HBL)
Habib Bank Plaza, I.I. Chundrigar Road,
Karachi – 75650, Pakistan
Tel: +92-21-32418000 (50 lines)
Fax: +92-21-39217511
Website: https://www.hbl.com/

Karachi, July 19, 2022 (PPI-OT):Euromoney awards HBL the accolade of Best Bank in Pakistan 2022. The Bank has also won the Asiamoney award for Best Domestic Bank in Pakistan, 2022. These two awards are the most prestigious recognition in the banking industry globally. HBL has said it’s proud to serve its valued clients who have made these wins possible. These wins are a tribute to the Bank’s millions of clients’ continued trust and confidence in HBL.

The Euromoney citation for HBL acknowledges that, “HBL enjoyed its strongest-ever performance in 2021, and, by extension, the strongest performance in Pakistan. Its Rs62 billion ($351.2 million at the time) consolidated pre-tax profit for the year represented 17% year-on-year growth.”

The citation went on to note that HBL’s growth in Pakistan is based on various factors including, “a vibrant year in consumer banking, digital momentum, record volumes in cash management, and a 20% growth in the farmer financing portfolio.” Highlighting HBL’s effort toward Islamic finance, the citation mentions the Bank’s commitment to the business as it showed great progress.

The citation remarked, “HBL is also the only Pakistani bank among the signatories of the Green Investment Principles, China, and in 2021 extended its existing commitment to stop financing coal to industries that contribute to deforestation.” Euromoney and Asiamoney are global English-language publications focused on business and finance.

For more information, contact:
Habib Bank Limited (HBL)
Habib Bank Plaza, I.I. Chundrigar Road,
Karachi – 75650, Pakistan
Tel: +92-21-32418000 (50 lines)
Fax: +92-21-39217511
Website: https://www.hbl.com/

Karachi, April 29, 2022 (PPI-OT):HBL, Pakistan’s largest commercial bank in collaboration with Finja, the country’s largest digital SME lending fintech, along with an international technology partner, has applied for a digital banking license, under the Licensing and Regulatory Framework for Digital Banks released by the State Bank of Pakistan (SBP).

This collaboration will enable HBL and Finja to co-create digital products and services and rapidly increase financial inclusion in targeted segments. In this regard, grant of a digital banking license by SBP, will allow HBL and Finja to consolidate existing efforts of both organizations under one umbrella to digitize the economy.

HBL and Finja have been strategic partners since April 2021, when HBL made its first equity investment in Finja. As a result of this collaboration, a unique digital lending program was launched, targeted at Micro, Small and Medium Enterprises (MSMEs) and their associated supply chains.

Commenting on the opportunity, Sagheer Mufti, Chief Operating Officer – HBL, said, “HBL views this opportunity to apply for a digital banking license as an exciting evolution of the digital eco-system for the benefit of clients, the unbanked and the country. HBL’s partnership with Finja should have a significant impact in its quest for financial inclusion.”

Qasif Shahid, Co-Founder and CEO of Finja remarked, “Our partnership with HBL gives us a head start in creating and rolling out digital banking products and services well before other players aspiring to set up digital banks under the new license regime.” He went on to say, “The partnership puts us in a winning position as it ramps up our capability to offer clients digital products.”

For more information, contact:
Habib Bank Limited (HBL)
Habib Bank Plaza, I.I. Chundrigar Road,
Karachi – 75650, Pakistan
Tel: +92-21-32418000 (50 lines)
Fax: +92-21-39217511
Website: https://www.hbl.com/

Karachi, January 04, 2021 (PPI-OT): Naymat Collateral Management Company Ltd (NCMCL), Pakistan’s first collateral management company, has joined forces with HBL for the development of the Electronic Warehouse Receipt (EWR) ecosystem in the country. Electronic Warehouse Receipt (EWR), the first of its kind in Pakistan, is a digital instrument that gives financial institutions real-time information and access to farmers, traders, processors, and aggregators who have placed their products in an accredited warehouse, significantly reducing transaction costs and operational risks.

Through this agreement, HBL and NCMCL will work towards poverty alleviation and enhanced inclusive growth targeted towards the rural population of Pakistan. This partnership will ensure that rural communities get easy access to finance.

Kashif Umar Thanvi, Head – Rural Banking, HBL commented, HBL is a market leader in farmer finance amongst commercial banks. The Bank has actively partnered with farmers across Pakistan for the timely provision of financial services to achieve the common objective of better crop yields and enhanced farm productivity. HBL is excited to partner with Naymat Collateral Management Company as this newly developed ecosystem will enhance financing to farmers and rural communities.”

Speaking on the occasion, Naveed Qazi – CEO, NCMCL stated, through this agreement, price anomalies that exist in the agricultural value chain will be eliminated and will save the small holder farmer from the distress sale of commodities.”

For more information, contact:
Habib Bank Limited (HBL)
Habib Bank Plaza,
I.I. Chundrigar Road,
Karachi-75650, Pakistan
Tel: +92-21-32418000 (50 lines)
Fax: +92-21-39217511
Website: https://www.hbl.com/

The post HBL Joins Forces with NCMCL for Development of Electronic Warehouse Receipt Ecosystems appeared first on Business News Pakistan.