Askari Bank Limited Pakistan - Askari Bank Ltd (formerly Askari Commercial Bank) was incorporated in Pakistan on October 9, 1991, as a Public Limited Company. It started its operations on April 1, 1992. The bank principally deals with banking, as defined in the Banking Companies Ordinance, 1962. The Bank is listed on the Karachi, Lahore & Islamabad Stock Exchanges and its shares are currently the highest quoted from among the new private sector banks in Pakistan.
Askari Bank has expanded into a network of 226 branches, including 31 dedicated Islamic banking branches, and a wholesale bank branch in Bahrain. A shared network of 4,173 online ATMs covering all major cities in Pakistan supports the delivery channels for customer service. Askari Bank achieved planned growth in business and operations during 2009. The total assets of the Bank amounted to Rs.254 billion as at December 31, 2009, registering an increase of 23 percent over December 31, 2008.Customer deposits reached Rs.206 billion by December 31, 2009, an increase of 23 percent over December 31, 2008.
Profit after taxation showed an increase of 187% at Rs.1.11 billion, when compared with last year’s Rs.386 million. The banking spread registered slight improvement over last year, despite absorbing the adverse impact on net mark-up income due to increased nonperforming advances. The Bank’s NPLs stood at Rs.17.73 billion as of December 31, 2009 compared to Rs.11.69 billion at the end of previous year, an increase of 52 percent.