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A bank with 150 years experience at vibrant 25.

Habib Bank AG Zurich is a unique institution in many ways. It is a foreign bank in Pakistan, though its Pakistan operation is managed and controlled predominantly by Pakistanis, and it made its entry into Pakistan only in 1989, after a successful global presence. The management of the bank is heir to a rich tradition of trading and banking in the sub-continent which goes back to over 150 years. Therefore, despite Habib Bank AG Zurich's young age of 25 years in the banking business it is backed by invaluable experience in the field and tradition of money handling and banking for the past 150 years.

Significantly, Habib Bank AG Zurich has the privilege of being a youthful 25, backed by the experience and expertise of a much older organisation and this the management acknowledges with grace and humility. This bank is privy to the glorious tradition of metal trading started way back in 1841, to the issuance of gold bullions which were widely accepted by the masses.

Indeed, the Bank is successor to the Habib Bank Ltd. which was the first Muslim-owned bank established over half a century ago in the Indian sub-continent.

Habib Bank Limited was rounded by Mohammedali Habib and Dawood Habib, sons of Habib Esmail, the founder of the House of Habib. The Bankplayed a singular role in assisting the economic emancipation of the down-trodden Muslim masses of British India. The promoters of the Bank also showed great courage in identifying themselves with the Muslim aspirations voiced by Quaid-e-Azam Mohammed Ali Jinnah.

During and after the Second World War, the Habib Bank management prudently remained indifferent to the artificial "booms" to continue its conservative policy of sound banking. This has been the guiding principle of Habib Bank AG Zurich as well. No wonder, the cornerstone of Habib Bank AG Zurich's world-wide operation is "Service with Security."

In modern industrial societies, banks are the custodians and distributors of liquid capital, which is the life-blood of commercial and industrial activities; and upon the prudence of their administration depends the economic well-being of any nation. The management of Habib Bank AG Zurich fully recognises this important and necessary role of banking in a developing economy and regulates its policies and operation to meet the exacting demands of the economy at all times. "The present day banker," observes Geoffrey Crowther in his popular book, 'An Outline of Money', "has three ancestors: merchant banking, money-lender and goldsmith. A modern bank is something of each of these." That the Habib Bank grew out of the century old family gold and merchant banking business in India is not just a coincidence but a natural progression to successful banking business. Quite like the phenomenon of the emergence of Habib Bank AG Zurich as a significant international bank having its roots in the same House of Habib which rounded the Habib Bank over half a century ago.

Habib Bank AG Zurich has grown in service and strength in the last two and a half decades. Incorporated in Switzerland. the Bank has branches in Abu Dhabi, Colombo, Dubai, Glasgow, London, Los Angeles, Manchester, Mombasa, Oman, Sharjah, besides representative offices in Cairo and Hong Kong. In October, 1989, the Bank opened its branch in Karachi. The branch in Lahore was opened in March, 1992. The Bank also plans to open its third branch in the highly industrialised city of Faisalabad in Pakistan, shortly.

Habib Bank AG Zurich. in addition to its multinational experience and operational coverage, is also in the unparalleled position of knowing deeply and well, the socioeconomic scenario as well as the commercial and industrial needs for investment in Pakistan. The global profile of the Bank provides it with the necessary insight to attract foreign capital from overseas investors and industrialists wishing to develop joint or independent ventures for the country's faster pace of development.

If Habib Bank Limited is the symbol that established the financial entity of a new nation or became the torch bearer of efficient and friendly banking service in Pakistan, Habib Bank AG Zurich promises to carry forward the glorious traditions of its forerunner, to prove to all that a Bank as 'young' as 25 years, carries the wisdom, experience and traditions of a century and a half!

Yet, just as no institution can bask in past glory, Habib Bank AG Zurich will continue its march in the pursuit of excellence as an ongoing exercise with the same, indeed greater, fervour in future years. Auto-Teller Machine (ATM) have been introduced at most branches, coupled with all other modern and updated equipments, systems and facilities in order to provide swift, efficient and professional services to the clients. On this important landmark the Bank re-dedicates itself for a better and brighter future and a commitment to better its services to its customers worldwide. In this task, the Bank seeks the blessings of Almighty Allah and the good wishes of its clients spread throughout the world.
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Title Annotation:Habib Bank Ltd.
Publication:Economic Review
Article Type:Company Profile
Date:Sep 1, 1993
Previous Article:A domestic banker's view on foreign banks.
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