ISLAMABAD – Top 10 most profitable Banks of Pakistan in 2019-20.
1. National Bank of Pakistan
National Bank of Pakistan, being state-owned, remained the most profitablebank. It surpassed MCB Bank, which recorded the highest profit in theindustry at the end of 2018.
The public sector bank recorded a profit of Rs. 16.33 billion in the firstnine months of 2019, showing a marginal growth of 1 percent. The bank alsoachieved an asset value of Rs. 3 trillion in 2019.2. MCB Bank
MCB Bank lost its crown of the most profitable bank to NBP but it standsvery close to the NBP as it made a profit of Rs. 16.29 billion in the sameperiod. It recorded a handsome 14 percent growth in its profitabilityyear-on-year.
The bank is set to reclaim its position in the remaining period of thecurrent year.3. United Bank Limited
United Bank Limited (UBL) has retained its third position in the bankingindustry. It recorded an impressive 50 percent year-on-year growth in thefirst nine months of 2019 to stand at Rs. 14.22 billion. UBL’s profit gapwith MCB Bank and NBP is notable but the bank can make an upset in thecoming months keeping in view the growth rate of profitability.
It is pertinent to mention that earlier, UBL achieved a remarkable profitof Rs. 25 billion in 2017.4. Standard Chartered Bank
Standard Chartered Bank jumped to the fourth position from sixth. It hasshown a startling performance in the banking industry particularly when abank is operating with a limited branch network and workers compared withleading banks such as Habib Bank Limited and Allied Bank Limited which theUK-based bank left in the dust in terms of profitability.
Standard Chartered’s profit surged to Rs. 11.4 billion by the end of Q32019 as compared to Rs. 7.77 billion recorded in the corresponding periodof last year, showing a massive growth of 47 percent year-on-year.5. Meezan Bank
Meezan Bank surprised the industry. It improved its ranking from the eighthposition to settle on the 5th. The bank recorded outstanding profit growthof 75 percent year on year to stand at Rs. 10.94 billion.6. Allied Bank Limited
Allied Bank Limited dropped from 4th place to 6th place in terms of profit.The bank recorded a profit of Rs. 9.405 billion in the period as comparedwith Rs. 9.968 billion last year, showing a drop of 6 percent in profit.The bank has become the fifth in the industry to mobilize deposits of overRs. 1 trillion.7. Bank Alfalah
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Bank Alfalah maintained its growth in profitability, which increased 7percent year-on-year to stand at Rs. 9.2 billion by the end of the thirdquarter of 2019. The bank maintained its ranking at no. 7 in the bankingindustry, however, it may surpass Allied Bank in the current fiscal year.8. Habib Bank Limited
Habib Bank Limited is on the declining trend in terms of its ranking andprofitability. The former most profitable bank of the industry is now inthe 8th position.
The bank’s profit declined to Rs. 8.82 billion in the nine months of 2019as compared with a profit of Rs. 9.91 reported in the same period last yearshowing a 10 percent (over Rs. 1 billion) decline year-on-year.
It is pertinent to mention here that the bank posted its highest annualprofit of Rs. 34 billion in 2016, which was the highest ever profit in thehistory of the bank and the industry.
The bank has the potential to bounce back in the long term having the mostexperienced and qualified members of the board and management.9. Bank Al Habib
Bank Al-Habib Limited has recorded double-digit profit growth of 18 percentin the nine months of 2019. Despite an increase of over Rs. 1 billion inprofit, the bank maintained its ranking from the previous position at No.9.
The bank’s profit stands at Rs. 7 billion and is likely to break itsall-time high record of Rs. 8.5 billion by the end of the business year2019.10. Bank of Punjab
Bank of Punjab (BoP) has also retained its position at No. 10. The bank hasreported a double-digit profit growth of 13 percent for the firstthree-quarters of 2019 compared with the same time period last year.
The bank’s profit grew to Rs. 6.18 billion during the period, compared to aprofit of Rs. 5.44 billion earned last year.
