Commercial Banks: HABIB BANK LIMITED (Consolidated Accounts) - Year Ended December 31, 2004.

(From Business Recorder)

Byline: SCANNER

Habib Bank Limited (HBL) inaugurated its operations on 25th August 1941 with its first branch in Bombay. In 1947, HBL became the first commercial bank of Pakistan, when it shifted its head office to Karachi. HBL claims introducing products such as Credit Cards, ATMs, Travellers Cheques, etc, to the Pakistani market. HBL Head Office is located at the Habib Bank Plaza, one of the tallest buildings in Pakistan. HBL has more than 1,700 branches all over Pakistan and presence in 26 countries across five continents. Total number of employees at end of 2004 was 18,625 (2003: 18,800).

HBL, incorporated in Pakistan, is engaged in commercial banking, Modaraba management and related services in the country and overseas.

HBL, PAKISTAN IS THE HOLDING COMPANY OF THE FOLLOWING COMPANIES:

-- Habib Allied International Bank Plc, United Kingdom (holding at 90.5 %).

-- Habib Finance International Limited, Hong Kong (wholly owned)

-- Habib Finance (Australia) Limited, Australia (wholly owned)

-- Habib Financial Services (Private) Limited, Pakistan (wholly owned)

-- Habib Currency Exchange (Private) Limited, Pakistan …