Meezan Bank Overtakes Bank Alfalah and Bank Al-Habib
The banking industry is highly competitive in Pakistan, comprising 33 commercial banks that cover 20 percent of the banked population.
Bank Al-Habib, Bank Alfalah, and Meezan Bank are in close competition with their number of branches, deposits, assets, and profits, standing neck and neck in 2020.
In Pakistan, the term big five usually refers to Habib Bank Limited, United Bank Limited, National Bank Limited, and MCB Bank. The competition among these banks has been intense but the competition among banks between the ranks of 6 and 10 is also getting tougher.
Recently, Meezan Bank has leapfrogged two major banks—Bank Al Habib and Bank Alfalah.
Meezan Bank witnessed significant growth in its services and business The bank left behind Bank Al-Habib and Bank Alfalah in terms of branches network and deposits mobilization, and profitability with the consistent expansion of services which also enhanced its penetration and customers and beneficiaries.
Branch Network Across Pakistan The ban..