Askari Bank Explained

Traded As:
KSE 100 component
Askari Bank Limited
Native Name:Urdu: عسکری بینک
Former Name:Askari Commercial Bank
Type:Public limited company
Location:Islamabad, Pakistan
Num Employees:7,881
Industry:Financial services
Banking
Islamic Banking
Capital markets
Asset management
Area Served:Pakistan
Products:Loans, credit cards, debit cards, savings, Consumer Banking, Business Banking, Islamic Banking, Priority Banking etc.
Assets Year:2023
Equity Year:2023
Revenue Year:2023
Num Employees Year:2023
Parent:Fauji Fertilizer Company
Income Year:2023
Net Income Year:2023
Owner:Fauji Fertilizer Company (64.71%)
Fauji Foundation (7.19%)
Subsid:Askari Exchange Company
Foundation Securities Limited (51%)
Footnotes:Financials [1]

Askari Bank Limited (ur|عسکری بینک), formerly Askari Commercial 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]

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 .[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

External links

Notes and References

  1. Web site: Askari Bank Annual Report 2023. askaribank.com. 26 March 2024.
  2. Web site: Registered Office & Head Office.
  3. Web site: Will Askari Bank's new CEO succeed in his desire to shake the bank out of its stupor?. Syeda. Masooma. May 6, 2019. Profit by Pakistan Today.
  4. Web site: Commercial Banks: ASKARI COMMERCIAL BANK LIMITED - Half Year Ended June 30, 2006 (Un-audited). November 13, 2006. Brecorder.
  5. Web site: Fauji Foundation to acquire Askari Bank's 100pc shares. 19 January 2012. The Nation.
  6. Web site: Pak Oman purchases AIML’s 100pc share from Askari Bank. Staff. Report. January 5, 2017. Profit by Pakistan Today.
  7. Web site: Profit . 2020-09-26 . Askari Securities is now a wholly owned subsidiary of Askari Bank . 2020-09-30 . Profit by Pakistan Today . en-US.
  8. Web site: 31 December 2022 . Askari Bank Annual Report 2022 . 22 November 2023 . Askari Bank.