HBL Wins ‘Asia’s Best Bank Transformation 2020’ Award by Euromoney

HBL Wins ‘Asia’s Best Bank Transformation 2020’ Award by Euromoney

Euromoney awards HBL the dual accolades of Asia’s Best Bank Transformation 2020 and Pakistan’s Best Bank 2020 for another year running. Key elements that helped HBL win these awards were HBL’s work in the sphere of digitalization and the Bank’s growing presence in China and its business initiatives with Chinese corporates and financial institutions.

Lading the transformation:

• HBL digitally disbursed more than USD 750 million (PKR 125 Billion) to over 10 million Pakistani households, under the Government of Pakistan’s Ehsaas Emergency Cash Programme for COVID-19 relief.
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• HBL is a regional banking powerhouse, with a branch presence in China and a leadership role in the CPEC projects.

Commenting on the award, Muhammad Aurangzeb, President & CEO, HBL said, “This accolade reflects the strides HBL has made in its pivot towards becoming a ‘technology company with a banking license’. HBL’s digital banking platform, HBL Konnect, has over 4 million customers of whom 25% are women, thus driving the country’s and the Bank’s Financial Inclusion agenda.

“HBL and Government of Pakistan joined forces to enable the delivery of the ‘Ehsaas’ Emergency Cash program as part of the COVID-19 relief efforts. A remarkable Public-Private partnership, HBL disbursed over USD 750 million to more than 10 Million Pakistani households through HBL Konnect,” he added.

Mr. Aurangzeb further said, “Internationally, HBL is the first Pakistani bank and one of the only three banks from the South Asia and MENA region to offer end-to-end RMB intermediation with a Branch presence in Urumqi and soon to open a branch in Beijing.”

“As the largest executor of CPEC related financing, China is going to be the linchpin of our Regional Bank strategy, not only in terms of our business book in China but also if China wants to take their Belt and Road Initiative either through our branch network or our affiliates, to the regions where HBL has presence,” he shared.

Euromoney is a global English-language publication focused on business and finance.