Askari Bank Limited provides various banking products and services.
Products and Services
Corporate, Commercial and Investment Banking
Corporate Banking
Corporate banking works on a long-term relationship-based business model to provide a single point within the company which meets all business requirements of its corporate and institutional customers, including public sector enterprises. The company's relationship-oriented outlook focuses on providing a complete array of tailored financing...
Askari Bank Limited provides various banking products and services.
Products and Services
Corporate, Commercial and Investment Banking
Corporate Banking
Corporate banking works on a long-term relationship-based business model to provide a single point within the company which meets all business requirements of its corporate and institutional customers, including public sector enterprises. The company's relationship-oriented outlook focuses on providing a complete array of tailored financing solutions that are practical, some of which include working capital facilities; term loans; letters of guarantee; letters of credit; discounting facilities; export financing; and cash management and employee banking solutions.
Commercial Banking
Commercial Banking serves the middle tier segment by providing both general and tailored solutions encompassing all financial needs of the borrower ranging from Trade Finance to working capital requirements. Dedicated relationship managers provide customized solutions to the company's customers.
Investment Banking
Investment banking focuses on the origination and execution of a range of financial advisory and capital raising services to corporate and institutional clients. It also manages the company's proprietary investments in local equity and debt markets. Investment banking offers various tailored financial solutions, including debt syndications, project finance and advisory services, debt placements through capital markets, as well as structured trade finance facilities. Whether a company is seeking to access the local or cross border syndications and debt capital markets, project financing needs, advisory services related to Mergers and Acquisitions and or local equity capital markets for raising capital, the company's Investment Banking is well positioned to provide due assistance.
International Banking
Having Correspondent Banking relationships with 670 banks in 88 countries around the world, the company remains focused on tapping new markets in Europe apart from its strong presence in South East Asia and the Middle East markets to boost international trade and remittances. Concentrated efforts are also being made to promote business from China, leveraging on positive spill-over of Chinese investment in Pakistan, especially under CPEC.
China Desk
Askari China Desk was created with the sole intent of facilitating Chinese businesses working for various projects in Pakistan and has been immensely successful in term of fostering rich financial prospects and bringing in valuable Chinese deposits and trade. With an increasing number of Chinese investors entering Pakistan, by establishing dedicated China Desk, the company is well-placed to cater the needs of all existing and new customer.
Cash Management Services
Askari Cash Management Services intend to effectively manage the accounts receivable portfolio of medium and large corporate entities. Transactional banking primarily aims at providing clearing, collection and cash/transfer facility to corporate clients. Employee Banking provides efficient solution of payroll management to the company's corporate clients under one resource center, which handles the process through the vast network of its branches.
Institutional Sales
Institutional sales offer tailor made and OTC products to its corporate clients catering to their needs along with consumer products for their employees at most affordable rates with premium services.
Askari Aasaan Money
Home Remittance segment is pivotal in promoting remittances received from round the globe through its state-of-the-art web based portal Askari Aasaan Money Transfer. This service is completely free of cost and is available for all citizens across the country with convenience and care.
Branch Banking
The company intends to provide its customers with a wide array of financial solutions catering to diverse banking needs. The company offers Conventional, Corporate, Consumer, Agriculture and Islamic Banking services through a network of branches/sub-branches in major cities, towns and cantonments across Pakistan.
Current Account
Current Accounts cater to a variety of transactional needs of the company's diverse customer base with added benefits of Cheque books, ATM/Debit cards, Bankers' cheques, i-Net Banking and much more.
Savings Account
Savings accounts offered by the company to both individual and institutional customers include Askari Maximiser, Askari Special Deposit, Askari Waqar, Askari Pensioner Account and normal Savings Account based on profit and loss sharing (PLS). Askari Savings products offer attractive features, competitive returns along with Profit payment flexibility.
Askari Maximiser Term Deposit
Askari Maximiser Term Deposit is specially designed product for individual and corporate customers with a medium to long term investment horizon. It caters to the saving needs of customers who want monthly profits in their bank accounts.
Value Plus Current Account
Askari Value Plus Current Account offers financial freedom and security with unmatched flexibility. Customers (individuals) can open this account to avail the benefits of free life insurance coverage and host of free banking services for transactional convenience - all with no minimum balance requirements. The company also offers Askari Value Plus Business and Askari Value Premium Business Accounts to cater the ever growing needs of Business Segment.
Askari Asaan Account
The company offers Asaan Account to unbanked / underbanked individuals. The facility is available in Current and Savings account categories. It has hassle-free account opening and operating procedure helps to lower income groups to fulfill their banking requirements.
Askari Sahar Account
Specially designed product suite by the name of Askari Sahar Account has been specifically developed to cater to the women segment, with the aim to minimize the gender gap in financial inclusion. Askari Sahar account is offered in all Current, Savings and Term Deposit variants with range of free banking services and attractive returns.
Digital Banking
Askari Digital offers convenient banking solutions from the comfort of home, office or on the go. The company's valued customers needn't wait in long queues for account opening, balance inquiry, statement of accounts, funds transfer, utility bill payment and host of other financial and non-financial activities.
Customer Digital On-Boarding
Askari Digital Onboarding platform provides online account opening to Resident Pakistanis. The company's customers can choose to open following accounts via digital onboarding and enjoy banking on the go with the company's digital solutions: Askari Asaan Digital Account; Askari Asaan Digital Remittance Account; Askari Freelancer Digital Account; and range of other AKBL Accounts.
Internet Banking
The company is providing internet banking services to its valued customers absolutely free. In addition to account management services, the company's I-Net banking offers online banker's cheque's delivery at customers doorstep; utility bills payment; online insurance premium payment (for select insurance companies); online school fee payment; online shopping e-commerce payments; M-Tag recharge; Hysab Kytab - Personal financial management; QR payments; and donations.
Mobile Banking
The company has launched an upgraded version of its Mobile Banking App with friendly user interface and added security features.
SMS Banking
The company's SMS banking provides its valued customers the ability to undertake several actions using its short messaging service: new debit card activation; debit card PIN change; block/ unblock debit card; balance inquiry; mini statement; cheque book issuance; and stop cheque payment service.
Cardless Cash Withdrawal
Cardless Cash Withdrawal is a unique and value-added feature of both Askari Mobile Banking, as well as I-Net banking. The facility allows cash withdrawal without requiring a Debit Card.
Automated Teller Machine (ATM)
The company, as a member of 1-link, (Pakistan's first payment system operator and service provider) shares network of ATMs, including its ATMs. This network provides ATM service in all major cities of Pakistan. The company's fleet of ATMs include NFC enabled machines that allow the ability to draw funds with just a tap of the debit card and a pin.
Cash Recycler Machine
The Cash Recyclers are one of the best ways to look ahead and digitize the cash as it offers acceptance and dispensing of cash, efficiently and securely. The customers can deposit and withdraw cash seamlessly through this one machine, round the clock at their convenience.
Cash and Cheque Deposit Machine
CCDM is an embedded deposit solution for hassle free cash and cheque management, a customers can easily deposit the cash and cheque using the company's CCDM at their convenience.
Call Center
The company's Call Center provides a single point of contact to all callers and offers real-time information on products and services. System is empowered for providing efficient self-service banking along with Contact Centre agent assistance round the clock.
Consumer Banking
Consumer banking provides range of financing solutions to cater to meet the company's customers' personal financing need through innovative products and offerings. The company keeps in mind customers' needs at every stage of life. To enrich customer experience, the company continuously seek new alliances to provide rich offerings and discounts.
Ask4Car
Askari Ask4Car is an auto financing product for locally manufactured new and used vehicles. It offers competitive mark-up, flexible repayment plan and quick processing without any hidden charges. The product is offered to the customers for a maximum tenure of 5 years.
Personal Finance
With unmatched financing features in terms of loan amount, payback period and easy monthly installments, the company's Personal Finance makes sure that its customers get the most out of their loans. The product tenure ranges from 1 - 4 years and is designed for salaried individuals and businessmen.
Mortgage Finance
Whether the company's customers plan to construct a house, buy a constructed house, or renovate a house, Askari Mortgage Finance enables them to pursue their goals without any hassle. Askari Mortgage Finance is a premium house financing product offered to customers for a period up to 25 years.
MasterCard Credit Card
The company offers a competitive suite of Classic, Gold, Platinum and Corporate MasterCard Credit Cards that provide superior services, travel privileges, exciting discounts, online payment facility along with reward points and transactional alerts through SMS as an enhanced security feature. The option for Flexible Credit Plans (FCP), Extended Payment Plan (EPP) and Balance Transfer is also available to customers at discounted mark-up rates.
World Mastercard Credit Card
The company pioneered Pakistan's first ever 'World MasterCard' in collaboration with MasterCard International. This credit card is specifically designed for customers seeking high-class service standards and travel privileges worldwide.
Askari Union Pay Debit Card
The company proudly introduces Pakistan's first EMV & NFC enabled UnionPay Debit Card. Askari UnionPay Debit Card provides enhanced security with EMV and the convenience of NFC which enables to make quick payments directly from AKBL bank account. This card has the acceptance in more than 162 countries over millions of ATMs and merchants for retail and cash withdrawal transactions, and is ideal to carry while travelling abroad or domestically.
Small and Medium Enterprises (SME) Banking
The company has been playing a significant role in the development of the SME sector by providing customers with opportunity to access credit through strategically located branches across the country.
The company offers diverse portfolio of lending facilities, including SBP initiatives offering discounted loans to specific target segments. Additionally, the company also offers trade expertise and awareness on trade related activities through its established access points, where specialized credit resource and empowered relationship management teams are stationed to dedicatedly serving SME at the grass root level.
In order to cater the financial needs of SME segment, the company offers a wider variety of Product Programs, including Prime Minister Youth Business Loan and Agricultural Scheme (PMYB&ALS); Askari Ujala Finance (Renewable Energy); Askari Sehar Finance (Women Entrepreneurship); Askari Imarat Finance (Infrastructure building); and Askari Flour Mill Finance.
Agriculture Banking
Wide range of Products and services are being offered to timely and adequately meet the credit requirement of the agriculture and rural sector.
Loans are being extended for crops, livestock, farm mechanization, irrigation & water harvesting, tunnel farming, construction of storage facilities, floriculture, poultry, fisheries, orchards, purchase of tractors, refrigerated trucks / pickups, value chains and small farmer loan schemes. Products include Askari Kissan Ever Green Finance; Askari Kissan Tractor Finance; Askari Kissan Farm Mechanization Finance; Askari Kissan Aabpashi Finance; Askari Kissan Transport Finance; Askari Kissan Livestock Development Finance; Askari Kissan Green House & Tunnel Finance; Askari Kissan Farm Storage Finance; Askari Kissan Gold Fish Finance; Askari Kissan Murghban Finance; Askari Kissan White Pearl Finance; Askari Kissan Samar Bahisht Finance; Electronic Warehouse Receipt Financing; and Askari Kissan Gulban Finance.
Islamic Banking
Under the guidance of its Shariah Board and professional bankers, Askari Ikhlas Islamic Banking offers a diversified range of Shariah compliant products and services to its valued customers to fulfill their banking needs. Presently working with 120 dedicated Islamic banking branches (including sub-branches) and Islamic window branches in 47 cities and towns spread across the country Askari Ikhlas Islamic has managed to increase its share in the banking Industry.
Islamic Deposit Products
The company's customers enjoy the freedom to choose from a wide array of Shariah Compliant deposit products that offer flexible term deposit schemes, current accounts and savings accounts. The company's Ahsan Munafa/Ahsan Munafa Corporate product is a chequing account that offers higher yields, calculated on a daily product basis. Askari Halal Savings Account is tailored to meet all business requirements of the company's customers and offers a host of valueadded services. Askari Islamic PakWatan Remittance account is being offered to potential remittance beneficiaries. Askari Halal Investment Accounts are Mudarabah based term deposit products that allow customers to invest their savings for different tenors ranging from 01 month to 07 years, and earn Halal returns on a periodic basis. Women centric Askari Islamic Sahar Accounts are being offered to females. Askari Islamic Employee Banking Accounts (Smart Salary and Smart Salary Plus) are also being offered to institutional clients/businesses for managing their payroll.
Islamic Consumer Banking Products
To provide customers with Shariah compliant option for consumer financing, following financing facilities are offered to customers:
Askari Ijarah Bis Sayyarah allows customers to get the car of their choice;
Askari Home Musharakah allows customers to purchase, build or renovate a house; and
Shariah compliant solutions are offered to customers who have availed house finance facilities from conventional financial institutions, to transfer their facilities to Askari Ikhlas.
Islamic Corporate Banking
The company's continuous efforts to provide a diversified range of Shariah Compliant, innovative financial products and solutions to corporate and commercial clients continue to win it new relationships. Working capital and term facilities include Murabaha; Salam & Istisna; Running Musharakah; Finished Goods Financing; Diminishing Musharakah & Ijarah; SBP Refinance Facilities; SBP Kamyab Pakistan Program.
The company also provides Islamic solution to the customers who intend to avail Letter of Credits, Letter of Guarantee and Islamic Export Refinance facilities.
The company operates in two geographic regions; Pakistan, including its allied territories and the Middle East.
Business Segments
The company operates through Branch Banking, Corporate Banking; Treasury; Consumer Banking; Islamic Banking; and Foreign Operations segments.
Branch Banking
This segment consists of loans, deposits and other banking services, including branchless banking services to small enterprises, medium enterprises, agriculture and individual customers.
Corporate Banking
Corporate Banking includes deposits, project financing, trade financing and working capital to corporate and commercial customers of the company. This segment is also involved in investment banking activities, such as mergers and acquisition, underwriting, privatization, securitization, IPO's related activities and secondary private placements.
Treasury
Treasury function is mainly engaged in money market activities, foreign exchange business and short term lending and borrowings from counterparties.
Consumer Banking
Consumer Banking segment provides both secured and unsecured loans to retail customers.
Islamic Banking
This segment provides banking services to its customers in compliance with Shariah rules and directives, instructions and guidelines issued by SBP.
Foreign Operations
Foreign operations consist of the banking activities performed through its Wholesale Bank Branch in the Kingdom of Bahrain.
History
Askari Bank Limited was incorporated in 1991.
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