HBL Develops Pakistan’s First Bank to Appeal Rs. 3Trn in Deposits
Despite mobilising a combined deposit base of more than 2 trillion rupees, the National Bank of Pakistan and United Bank Limited still lag well behind HBL.
During the quarter, the Bank’s fortress balance sheet increased by almost Rs 600 billion, reaching the Rs 4 trillion milestone, an increase of 7% over Dec 2020. Robust deposit growth was responsible for this; according to an official release, HBL became the first bank in Pakistan to mobilise a deposit base of more than Rs. 3 trillion, breaking yet another milestone for the sector.
In terms of accounts opened and active, the Roshan Digital Account (RDA) portfolio continued to expand quickly. The Bank has received roughly USD 219 million since the proposal’s launch in September 2020.
The Development Finance initiative is what motivates HBL’s efforts in financial inclusion. The Bank ramped up its 2020 proof-of-concept interventions 30 times through mid-scale experiments run by a team of field-based, full-time agronomists who used handheld tablets to digitally onboard farmers into HBL Pay.
One of the noteworthy transactions is Pakistan’s first 500 million USD green eurobond offering, which was done without the support of the Pakistani government. HBL had a significant role in the deal as the Co-manager.
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