Taylor Scott
Pakistani banks have earned a stellar reputation in the international market, with several banks having branches in the UK. The National Bank of Pakistan, for example, has a UK operation through a joint venture with United Bank Limited, forming United National Bank Limited (UNBL), which has 6 branches in the UK. Habib Bank, which has been operating in the UK since 1961, offers commercial and retail banking services under the name HBL Bank UK and has 7 branches in the country. UBL, Pakistan's largest bank by market capitalization, also has a physical branch in London and offers personal and wholesale banking services. Pakistani bankers have worked for multilateral institutions such as the World Bank and investment banks like JP Morgan and HSBC, showcasing their presence and impact in the global banking sector.
| Characteristics | Values |
|---|---|
| Number of Pakistani banks with UK branches | 3 (United National Bank Limited, Habib Bank, UBL) |
| Number of United National Bank Limited branches in the UK | 6 |
| Number of Habib Bank branches in the UK | 7 |
| Number of UBL branches in the UK | 1 |
| Number of overseas Pakistani bank branches | ~100 |
| Number of Standard Chartered Bank branches in Pakistan | 121 |
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What You'll Learn
Pakistani banks in the UK
Pakistani banks have earned a stellar reputation in the international market, with several banks offering their services in the UK. Here is some information about Pakistani banks with a presence in the UK:
National Bank of Pakistan
The National Bank of Pakistan operates across a broad range of commercial and public sector services in Pakistan. It also has a UK operation through a joint venture formed in 2001. In the UK, the trading name is United National Bank Limited® (UNBL), which is overseen by the PRA and FCA, with 6 branches in operation. There are no other UK representations of the National Bank of Pakistan outside this joint venture. However, it has an overseas network with branches and offices in other countries, including France, Germany, and the US.
Habib Bank/HBL Bank UK
Habib Bank, also known as HBL Bank UK, has been operating in the UK since 1961. It offers a range of personal and business services, including current accounts, multi-currency accounts, savings products, and more. HBL has a total of seven branches in the UK, with two in London (Portman Street and Whitechapel), one in Birmingham, and one in Manchester. HBL, along with other Habib brands, has the potential to become a globally recognised and respected brand in banking and finance.
United Bank Limited/UBL UK
United Bank Limited (UBL) offers personal and wholesale banking services in the UK. Customers can open everyday accounts, savings accounts, and access financing products, loans, and buy-to-let mortgages. UBL has one physical branch in London and offers enhanced mobile and internet banking for added convenience. UBL UK was formed through the merger of UK branches of United Bank Limited and the National Bank of Pakistan.
It is worth noting that debit and credit cards issued by global networks like Visa and Mastercard are widely accepted in the UK, both at merchants and ATMs. When using Pakistani-issued cards in the UK, it is recommended to check for the network logo on the ATM or payment terminal to ensure compatibility. Additionally, some banks may require customers to inform them of overseas travel to avoid potential fraud alerts and suspension of cards.
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United National Bank Limited
United Bank Limited (UBL) is a Pakistani bank headquartered in Karachi, Pakistan. It is the largest bank in Pakistan by market capitalization, the third-largest by total assets, and the fourth-largest by tier 1 capital. UBL was founded in 1959 by Agha Hasan Abedi and opened its first branch in Karachi the same year. By 1960, the bank had expanded to other cities in Pakistan, including Lahore and Faisalabad, and had also established a presence in what was then East Pakistan. UBL is a subsidiary of the British multinational conglomerate Bestway Group, which acquired a majority stake in the bank in 2002 in partnership with the Abu Dhabi Group.
UBL has a significant presence in Pakistan, with over 1,360 branches and 1,440 ATMs across the country as of 2024. The bank's commercial banking division is the largest within the company, offering a range of financial services to individual consumers and small businesses. These services include banking and investment solutions, lending products, and car and home financing. In addition to its domestic operations, UBL also has a direct presence in the United Arab Emirates, Bahrain, and Qatar, with nine branches across major cities in these countries.
In the United Kingdom, UBL operates through its subsidiary, UBL UK, which was formed in 2002 through the merger of its operations with the National Bank of Pakistan. UBL UK is regulated by the Prudential Regulation Authority and the Financial Conduct Authority. In 2021, UBL announced the winding up of its Swiss subsidiary, UBL (Switzerland) AG, which it had owned since 1967. More recently, in September 2023, UBL's largest shareholder, Bestway Group, submitted an offer to acquire UBL's shareholding in UNBL from its joint venture with the National Bank of Pakistan. This offer was approved by UBL's Board of Directors and is pending approval from the State Bank of Pakistan.
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Habib Bank/HBL Bank UK
Habib Bank, also known as HBL Bank UK, has been operating in the United Kingdom since 1961. It is a subsidiary of Habib Bank Limited (HBL), the largest bank in Pakistan, and has a long history of serving the South Asian communities in Europe. With over 59 years of experience, HBL Bank UK provides a wide range of banking services to meet the financial needs of its customers.
HBL Bank UK offers a variety of products and services, including current accounts, savings accounts, term deposits, commercial loans, trade services, global equities, fixed-income products, and bonds. They also provide services such as wealth management, business banking, remittance, investment banking, investment management, corporate banking, and trade finance. The bank caters to both personal and business needs, domestic and international, with a strong focus on building lasting and trusting partnerships with its clients.
In terms of its branch network, HBL Bank UK has a total of nine branches in the UK and one branch in Zurich, Switzerland, giving it a strong presence in Europe. The bank's CEO, Andreas Ponce de León, values the importance of a strong workplace culture and recognizes the contributions of long-serving employees such as Aziz Patel, who has spent 50 years with the organization.
HBL Bank UK is committed to providing a traditional, personalized service to its customers. Their multilingual staff have extensive experience in financial services and are always ready to help customers find the right solutions for their specific needs. Whether it's financing business growth, opening an account, or sending money to family in Pakistan or elsewhere, HBL Bank UK strives to deliver a tailored and inclusive experience.
HBL Bank has a long history dating back to 1941 when it was established in Bombay (now Mumbai) by the Habib family. It is the oldest bank in Pakistan post-independence and has played a significant role in the country's banking industry. With its strong foundation and presence in Pakistan, HBL Bank has expanded internationally, facing some regulatory challenges along the way, but ultimately emerging as a prominent bank serving the South Asian diaspora in the UK and beyond.
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UBL UK
United Bank Limited (UBL) UK is a UK-regulated bank established in 2001. It offers a range of services, including retail banking, wholesale banking, treasury, money transfer services, and finance and mortgage facilities to individuals and businesses of all sizes in the UK. UBL UK has one physical branch in London and also offers mobile and internet banking services. The bank is committed to protecting its customers' personal information and ensuring they are informed about phishing threats.
In addition to its financial services, UBL UK is actively involved in community engagement initiatives. The bank has participated in the Standard Chartered Great City Race, with proceeds going to their flagship community engagement programme, Futuremakers. This programme is dedicated to helping the next generation learn, earn, and grow, and has helped individuals like Sanam, who was able to support her family in Pakistan with an income.
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Pakistani bankers' international reputation
Pakistani bankers have earned a stellar reputation in the international market, with many working for multilateral institutions, investment banks, and Islamic banks all over the world. The country's banking sector has played a pivotal role in its economic development, witnessing substantial growth and transformation over the years, adapting to global financial trends.
International banks in Pakistan bring expertise, investment, and advanced financial solutions that support economic activities, facilitate trade and investment, and contribute to the overall growth of the country's economy. They introduce modern banking practices and provide access to a wide range of financial services, including digital banking services across personal, business, and Islamic banking segments. Compared to local banks, international banks, especially those with a strong global presence, may have a better brand reputation, impacting customers' perceptions and preferences. They frequently employ more advanced risk management techniques and may have more substantial capital buffers and more sophisticated risk assessment processes.
However, foreign banks in Pakistan have faced challenges due to political instability and wars in the past. Similarly, some Pakistani banks operating internationally have faced difficulties. The Bank of Credit and Commerce International (BCCI), for example, failed in its international business from London, besmirching its reputation. BCCI thrived in the highly imperfect financial markets of the Gulf and Pakistan, exploiting the burgeoning drug money laundering business of the 1980s, making loans to cash-strapped governments, and financing imports of arms and other controlled items.
Despite these challenges, Pakistani banks have a presence in the UK, with the National Bank of Pakistan operating through a joint venture formed in 2001, with the trading name United National Bank Limited® (UNBL), which has 6 UK branches. Habib Bank® trades in the UK as HBL Bank UK®, offering commercial and retail banking services, with 7 branches in the country. UBL® offers personal and wholesale banking services, with one physical branch in London and enhanced mobile and internet banking.
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Frequently asked questions
Yes, there are several Pakistani banks with branches in the UK.
The National Bank of Pakistan, Habib Bank, and United Bank Limited (UBL) all have branches in the UK.
The trading name of the National Bank of Pakistan in the UK is United National Bank Limited (UNBL).
There are 6 branches of UNBL in the UK.
