Top Ten Banks in Pakistan are for running the economic systems smoothly in order to have a much developed society, it is essential to establish such institutions that could support the economy. For this purpose, a concept of banks was developed that was meant not to only provide some financial assistance to other people by giving them employment but was also to introduce such an institution that could support the functions of the economy especially when the economy is facing a downward trend.
Public Sector or Private Sector Banks
The primary function of every bank is to provide the facility of acceptance of depositing the money from the public and also issuing them loans on certain terms and conditions. This feature of accepting of deposit and also providing loans separates the bank from other kind of financial institutions. The similar functions are being performed by the banks that are situated in Pakistan. Basically there are tow main categories of banks that are private sector banks and public sector banks. A public sector bank is said to be that bank which is purely owned by the government of the country.
As the government is decided by the residents of the country therefore the bank that is established by the government is also termed as a public sector bank. In these banks, the government is completely responsible for all the monetary transactions which include the withdrawal and deposits of money by the people in to the accounts of public sector banks. Whereas on the other hand, a private sector bank is said for those banks which are owned by any individual or an independent company that is generally governed by some of the individuals. In this case, the responsibility of all kinds of bank transactions is completely on those individuals who control these banks.
Pakistan International Banks
Apart from being an under developed country, Pakistan is also considered to be the main hub of many international banks that are performing the same functions as other banks and are expanding their business within different cities of Pakistan in order to gain more customer loyalty. As there are many different banks in Pakistan, so it is obvious that every bank cannot be the number one bank. Therefore to have a general idea of those banks that are considered to be among the top ten banks so that a person could chose one of them to open an account an use their facilities, a short list of top ten banks that are devised by the Asian Banker, The Asian Pacific ranking has ranked top ten Banks in Pakistan the following order:
- National Bank of Pakistan
- Habib Bank Limited
- United Bank Limited
- MCB Bank Limited
- Allied Bank Limited
- Bank Alfalah
- Standard Chartered Bank (Pakistan)
- Askari Bank
- Bank Al Habib Limited
- Habib Metropolitan Bank
National bank of Pakistan is listed in the public sector bank that is, this bank is backed by the government while other remaining names are all private sector banks and are governed by different groups of individuals who run the operations and make corporate decisions for their respective banks. So when ever you are considering to open an account in any bank that is situated in Pakistan, refer to this list of top ten banks in Pakistan to have a much quicker view that which bank will be more suitable for you.
Now you can browse the list of top ten banks in Pakistan 2014 with authentic research.