Arif Habib Group is among the largest, most innovative and fastest growing Business Groups in Pakistan. In addition to Financial Services (Asset Management, Brokerage Services, Corporate Finance and Project Advisory, Private Equity and Bank), the Group has interest in Fertilizer, Cement and Real Estate.
Arif Habib Bank Ltd. (AHBL) commenced operations as a fully scheduled bank on 5th August 2006. The Pakistan operations of Rupali Bank Limited were acquired by Arif Habib Securities Limited under the Scheme of Amalgamation approved by the State Bank of Pakistan, under Section 48 of Banking Companies Ordinance, 1962. The Bank opened its doors for business with an Authorized Share Capital of PKR 6 billion and Paid up Capital of PKR 3 billion. Subsequently, the Board of Directors decided to double the equity of the Bank by issuing 50% right shares at a premium of PKR 11 per share. The Bank currently has an equity base in excess of PKR 6.0 billion and is one of the fastest growing new banks in Pakistan.
Presently the Bank has eight branches in Karachi, two in Lahore and one each in Islamabad, Faisalabad and Multan. Our branch network will be expanded to cover all four provinces of the county to ensure a nationwide presence. The Bank's network will increase to 33 by year end 2008 as 20 new branches are planned at different locations including Gujranwala, Gujrat, Peshawar, Rawalpindi, Sadiqabad, Hyderabad etc.
Since inception, the Balance Sheet footing of the Bank has been multiplied by five times and reached above PKR 18 billion. For the year ending December 31, 2007 the PAT reached PKR 230 million after incurring administrative expense of PKR 383.5 million. The Bank's Wide Area Network (WAN) project has been completed and the branches are all Real Time Online linked for providing both the customers and the Management of the Bank faster and more reliable service.