Habib Bank Limited (HBL), a Pakistani commercial bank, has implemented a new branchless banking service, HBL Express. HBL Express allows customers to send and receive money from other parts of the country and pay utility bills by meeting with an HBL ExpressAgent [1]. These agents are situated in approximately 183 cities in Pakistan and are retailers that are contracted by HBL [2]. The number of ExpressAgents is unavailable.
According to a statement attributed to the HBL President Nauman Dar, HBL Express “is another step by HBL towards achieving its vision of supporting financial inclusion in the country.” Kazi Abdul Muktadir, the acting governor of Pakistan’s central bank, reportedly stated that 90 percent of the Pakistani population is unbanked.
Habib Bank Limited was founded in 1947 and is headquartered in Karachi, Pakistan [3]. It owns 1,540 branches worldwide, and in 2012 it had PKR 1.2 trillion (USD 12.2 billion) in deposits. HBL holds PKR 1.6 trillion (USD 16.2 billion) in assets [4]. It possesses a domestic market share of approximately 40 percent, along with a 55 percent market share in inbound foreign remittances.
By Meghan Gillis, Research Associate
Sources and Additional Resources
[1] The News International: “HBL launches branchless banking,” http://www.thenews.com.pk/Todays-News-3-174506-HBL-launches-branchless-banking
[2] HBL: “HBL Express,” http://www.hbl.com/hbl-express.php
[3] HBL: “History,” http://www.hbl.com/uae/history.php
[4] HBL: “Annual Report 2012,” http://www.hbl.com/downloads/pdf/annual/HBL_AnnualReport_2012.pdf
MicroCapital Article, May 23, 2011, “MICROCAPITAL BRIEF: Pakistan’s Khushhali Bank Partnering With Western Union to Offer International Remittances,” https://www.microcapital.org/microcapital-brief-pakistan’s-khushhali-bank-partnering-with-western-union-to-offer-international-remittances/
MicroCapital Article, April 30, 2010, “MICROCAPITAL BRIEF: Nigerian Tech Firms SystemSpecs and Maxim-Pro Release Memorandum of Understanding Targeting Microfinance Bank Enhancement,” https://www.microcapital.org/microcapital-brief-pakistani-government-to-extend-microfinance-bank-licenses-to-retail-organizations-and-mobile-network-operators/
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