Askari Bank

Askari Bank Limited (Urdu pronunciation: [əs.ˈka.ri bɛŋk] us-KAH-ree-BANK) is a Pakistani commercial and retail bank headquartered in Islamabad.^[2] It is a subsidiary of Fauji Fertilizer Company, which is part of Fauji Foundation.^[3]

Askari Bank Limited

Native name	عسکری بینک
Formerly	Askari Commercial Bank
Company type	Public limited company
Traded as	PSX: AKBL KSE 100 component
Industry	Financial services Banking Islamic Banking Capital markets Asset management
Founded	9 October 1991; 33 years ago (1991-10-09)
Headquarters	Islamabad, Pakistan
Area served	Pakistan
Key people	Waqar Ahmed Malik (Chairman) Atif Riaz Bokhari (CEO)
Products	Loans, credit cards, debit cards, savings, Consumer Banking, Business Banking, Islamic Banking, Priority Banking etc.
Revenue	Rs. 72.359 billion (US$250 million) (2023)
Operating income	Rs. 43.01 billion (US$150 million) (2023)
Net income	Rs. 21.435 billion (US$74 million) (2023)
Total assets	Rs. 2.124 trillion (US$7.4 billion) (2023)
Total equity	Rs. 97.123 billion (US$340 million) (2023)
Owner	Fauji Fertilizer Company (64.71%) Fauji Foundation (7.19%)
Number of employees	7,881 (2023)
Parent	Fauji Fertilizer Company
Subsidiaries	Askari Exchange Company Foundation Securities Limited (51%)
Website	askaribank.com
Footnotes / references Financials as of 31 December 2023[update] [1]

History

Askari Bank was founded in October 1991 as Askari Commercial Bank and a year later it was listed on the Karachi Stock Exchange.^[3]

In November 2006, Askari Bank established a wholly owned asset management firm named Askari Investment Management Limited.^[4]

In June 2013, Askari Bank was acquired by Fauji Foundation from Army Welfare Trust.^[5]

In January 2017, Askari Bank sold its subsidiary Askari Investment Management to Pak Oman Asset Management for Rs. 551 million.^[6]

In September 2020, Askari Bank acquired Askari Securities which is now a wholly owned subsidiary.^[7]

Branches

Askari Bank has 600 branches and more than 500 ATMs across Pakistan and a wholesale bank branch in Bahrain.^[8]

See also

• List of banks in Pakistan