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Habib Bank Limited Habib Bank Limited By JAVAID AHMED KHAN 21138 To MR. SHAH M. SAAD HUSAIN A report is submitted in partial fulfillment of the requirements for the course of Post Graduate Diploma. To office of teacher, Institute of Business Administration, Karachi. Karachi, Pakistan October 2020 Background of Company Founded in 1941, HBL became Pakistan's first commercial bank. In 1951 it opened its first international branch in Colombo, Sri Lanka. In 1972 the bank moved its headquarters to the Habib Bank Plaza, which became the tallest building in South Asia at the time. The Government nationalized the bank in 1974 and privatized it in 2003; at that time the Aga Khan Fund for Economic Development acquired a controlling share. As of 2018, HBL has more than 1700 branches with presence in over 25 countries spanning across four continents. It is the largest company in Pakistan in terms of assets, and has repeatedly ranked top Pakistani company in the Forbes Global 2000. In February 2018, HBL appointed senior banker, Muhammad Aurangzeb (formerly CEO Global Corporate Bank – Asia Pacific at JP Morgan) as its President & CEO following early retirement of Nauman K. Dar on December 31, 2017, after the bank was marred by a penalty of $225 Million (USD) for its non-compliance with risk management and anti-money laundering rules Examine Industry Position Mohammed Ali Jinnah, Pakistan's first Governor General, realized the importance of financial intermediation while he was campaigning for the creation of a separate homeland for the Muslims. He persuaded the Habib family to establish a commercial bank that could serve the Muslim community. His initiative resulted in the creation of Habib Bank in 1941, with head office in Bombay (now Mumbai), and fixed capital of 25,000 rupees. The bank played an important role in mobilizing funds from the Muslim community to finance the All-India Muslim League's campaign for the establishment of Pakistan. Habib Bank also played an important role in channeling relief funds to Muslims hurt in the communal riots and violence that preceded the departure of the British from British India and the subsequent partition. After the formation of Pakistan in 1947, Habib Bank moved its headquarters to Karachi, Pakistan's first capital, at the urging of Governor-General Jinnah. This gave Karachi its first commercial bank of the newly formed Pakistan. The Habib family would own and manage the bank until the Pakistan government nationalized it on 1 January 1974. On 13 June 2002, Pakistan's Privatization Commission announced that the Government of Pakistan would grant the Aga Khan Fund for Economic Development (AKFED), a subsidiary of the Aga Khan Development Network, majority ownership of HBL against an AKFED's investment in the bank. During 2002, HBL's UK operation came close to being shut down due to regulatory issues with the Financial Services Authority. The issue was resolved by converting the operations to a subsidiary. Then Habib Bank Limited and Allied Bank of Pakistan merged their operations (Habib contributed its 6 branches and Allied its 4), into a new bank, called Habib-Allied International Bank, in which Habib Bank has a 90.5% shareholding, while Allied Bank has 9.5%. In December 2003, the Government of Pakistan granted AKFED rights to 51% of the shareholding in the bank against an investment of PKR 22.409 billion (US$389 million).[9] In February 2004, Government of Pakistan handed over management control of Habib Bank to AKFED. The Board of Directors was reconstituted to have four AKFED nominees, including the Chairman and the President/CEO and three Government of Pakistan nominees. In April 2015, the Government of Pakistan sold its 41.5% stake or 609 million shares in the bank for $1.02 billion. According to the finance ministry, the strike price of Rs.168 per share (compared to the floor price of Rs.166 per share) was recommended by the Privatization Commission Board. The bank's owners now comprise the Aga Khan Fund for Economic Development (51%) and the remaining 49% of shares are in free float. CDC Group holds 5% and the International Finance Corporation holds 3% while the rest of the shares are held by individuals, institutions and funds. On 18 April 2016, HBL received license to operate a subsidiary in Ürümqi, Xinjiang, becoming the first Pakistani bank to operate in China. Originally established in 1941, HBL moved its operations to Pakistan in 1947 at the request of Muhammad Ali Jinnah, hence becoming the first commercial bank to lay its foundation in the country. Embarking on a progressive journey, HBL continued to grow and expand in the successive years. The Bank's first international branch opened in Colombo, Sri Lanka in 1951, while the construction of the iconic Habib Bank Plaza was completed in 1972, the year that also marked the commemoration of HBL's 25th anniversary. With a sizeable domestic share, HBL was nationalized in 1974. The Bank became a trend setter in the banking industry, acquiring the lion's share in inward foreign remittances and a major market share in loans to small industries, traders and farmers. International operations expanded and HBL now operates in over 20 countries across four continents. In February 2004, the bank was privatized and the management control of the bank was handed over to AKFED. By April 2015, the Government of Pakistan divested its entire shareholding of 41.5% through the Privatization Commission of Pakistan, thereby officially making HBL Pakistan's largest private bank. HBL has not just been a pioneer in the banking industry, but has also been a platform that has enabled dreams for millions of people. It has time and again, proven to be a catalyst for change by initiatives that have elevated Pakistan’s image and reputation. From bringing back international cricket to Pakistan through the HBLPSL, to helping strengthen the economy of the country through initiatives like CPEC, HBL continues to enrich lives of Pakistanis around the world. Organizational Capability As far as Capability of HBL is concerned, here are some key indicators; Total Worldwide Branches : 1,743 ATMS : 2,139 Asset Base : PKR 3.0 Trillion Deposit Base : PKR 2.1 Trillion Profit in 2018 : PKR 21.6 Billion (Before Taxation) Customer worldwide : Over 14 Million RATING & RANKINGS HBL RATING HBL Rating Rating Agency JCR-VIS Moody's Long Term Rating AAA Caa1 Short Term Rating A-1+ NP Outlook Stable Stable Country Rating (Pakistan) Country Rating: Pakistan Rating Agency Moody's S&P Long Term Rating B3 B Short Term NP B Rating The Banking sector of Pakistan is based on around 31 Banks of which five are public sector and four are foreign Banks and 22 are local private banks. Banking sector is continuously expending in Pakistan. However, according to Wikipedia, only 7% of the Pakistani population uses the Banks, which shows the great expanding potential in this sector in Pakistan. Advance invention has been changed the traditional Banking as now Banking has been connected with ATM Machine, E-Banking, and more other Changes that change the working shape of the Bank Employee. These changes in Banking Sector has depreciated the economic, social and psychological scope of the employees who are working in the Banks. According to International Bankers, In terms of overall performance, the past decade has been good to the banking industry, with the numbers presenting a positive picture in terms of balance-sheet growth for banks. To quote a few, from 2009 to September 2016: Total assets increased from PKR 6,516 billion to PKR 15,134 billion; Deposits rose from PKR 4,786 billion to PKR 11,092 billion; Lending increased from PKR 3,240 billion to PKR 5,025 billion; and Investments exponentially jumped to PKR 7,625 billion from PKR 1,737 billion back in 2009. All of these positives have taken place in a period when the prudential regulation has been quite suffocating for the banks competing in the industry. Over the past decade, the State Bank of Pakistan has had to make it tough for the banks to operate, given the macroeconomic conditions. The Government of Pakistan (GOP) privatized HBL in 2004 through which Aga Khan Fund for Economic Development (AKFED) acquired 51% of the Bank's shareholding and the management control. The remaining 41.5% shareholding by the GOP was divested in April 2015. AKFED continues to retain 51% shareholding in HBL while the remaining shareholding is held by individuals, local and foreign institutions and funds including CDC Group Plc which holds 5% and International Finance Corporation which holds 3%. With a global presence in over 15 countries spanning across four continents, HBL is also the largest domestic multinational. The Bank’s international footprint is important as it provides opportunities to effectively serve its core customers across its network. HBL is the largest executor of CPEC related financing in Pakistan and coupled with being the first Pakistani bank to start Renminbi (RMB) operations makes the Bank a key player in this economic initiative. HBL has a balance sheet size of USD 24 billion (FY’16). Memberships of Industry Associations and Trade Bodies Pakistan Banks Association. Pakistan Business Council. Institute of Bankers Pakistan. Pakistan Institute of Corporate Governance. Karachi Center for Dispute Resolution. Product Mix By leveraging on strong local and international franchise, HBL offers a range of products & services to facilitate the demands of our FI/NBFI partners. These include: 1. Trade Finance Opening, advising, confirmation and negotiation of letters of credit. Discounting of LCs including providing bankers acceptances. Trade loan syndications. Risk participations. Pre/post export financing. Issuance of financial guarantees/SBLCs. Documentary collections. 2. 2.
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