Faysal_Bank
Faysal Bank
Multinational bank based in Pakistan
Faysal Bank Limited is a Pakistani Islamic bank, a subsidiary of KSA Holdings, the ultimate parent of bank is KSA Holdings and Ithmaar Bank,[2] based in Karachi, Pakistan.[3] It is named after Mohammed bin Faisal Al Saud.
Native name | Urdu: فیصل بینک لمیٹڈ |
|---|---|
| Company type | Public |
| PSX: FABL | |
| Industry | Islamic banking |
| Founded | 3 October 1994; 29 years ago (1994-10-03) |
| Headquarters | Karachi, Pakistan |
Key people | |
| Products | Islamic banking, loans, consumer banking, business banking, priority banking, credit cards, debit cards, savings |
| Revenue |  Rs. 83.142 billion (US$290 million)[1] (2023) |
| Rs. 41.422 billion (US$140 million)[1] (2023) | |
| Rs. 20.046 billion (US$69 million)[1] (2023) | |
| Total assets | Rs. 1.370 trillion (US$4.7 billion)[1] (2023) |
| Total equity | Rs. 90.198 billion (US$310 million)[1] (2023) |
Number of employees | 8,787[1] (2023) |
| Parent | KSA Holdings |
| Website | www |
Faysal Bank has over 700+ branches across 270+ cities in Pakistan.
Faysal Bank started in Pakistan in October 1987, with a tiny branch and as a subsidiary of Faysal Islamic Bank, a Bahraini bank owned by Mohammed bin Faisal Al Saud, the son of the late King Faisal of Saudi Arabia.[4]
It was incorporated in Pakistan on 3 October 1994, as a public limited company under the Companies Ordinance, 1984. ABN AMRO Bank Pakistan, a predecessor to Faysal Bank, acquired Prime Commercial Bank consisting of 69 branches and spanning 24 cities in 2007 for US$227 million to expand its loan and deposit base.[5]
In June 2010, Royal Bank of Scotland sold its Pakistan operations to Faysal Bank for £34 million.[6]
In 2014, it announced to convert itself into a full-fledged Islamic Bank in three to five years.[7] It finally converted to a full-fledged Islamic bank by December 2022.[8]
- "Faysal Bank Annual Report 2023" (PDF). faysalbank.com. Retrieved 26 March 2024.
- "A Bank in Pakistan is Splurging on 200 New Branches". Bloomberg. 1 May 2019. Retrieved 6 August 2020.
- "About Faysal Bank". Archived from the original on 2011-10-11. Retrieved 2011-09-24.
- Report, Monitoring (April 16, 2018). "Gulf investors seek exit opportunity from Pakistan's banking industry".
- "Banks' appetite for acquisitions". DAWN.COM. May 3, 2010.
- "RBS sells its operations in Pakistan". BBC. 16 June 2010. Retrieved 6 August 2020.
- "Pakistan's Faysal Bank to convert into Islamic bank". Reuters. 2014-03-25. Retrieved 2020-07-09.
