May 20th, 2014
Meezan Bank, Pakistan’s first and largest Islamic Bank has been awarded ‘Best Islamic Bank in Pakistan’ by Asiamoney magazine, Hong Kong. This is the fifth time that Meezan Bank has been recognized by Asiamoney for its excellence in Islamic Banking.Meezan Bank was awarded the ‘Best Islamic Bank’ in Pakistan for its commitment to quality, customer satisfaction, innovation and reliability. The award brings to light a highly successful year for Meezan Bank. The Bank demonstrated robust business growth in 2013, closing the year with a deposit figure of Rs. 289 billion. With a branch network of 352 branches in 103 cities across Pakistan, Meezan Bank is not only the first and largest Islamic bank in Pakistan but is also Pakistan’s 8th largest bank in terms of branch network and 10th largest in terms of deposits. Meezan Bank has been consistently recognized as the Best Islamic Bank in Pakistan by various other local and international institutions such as Islamic Finance News – Malaysia, Global Finance magazine, Asset AAA – Hong Kong and CFA Association – Pakistan. The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has rated Meezan Bank’s short term rating at A1+ (A One Plus), the highest standard in short term rating, and a long-term entity rating at AA (Double A) with stable outlook which highlights sound performance indicators of the Bank.