Bank Alfalah opens 1000th branch, crosses Rs2tr deposits

KARACHI: Bank Alfalah Limited, one of Pakistan's leading commercial banks, announced on Tuesday that it had opened its 1000th branch and crossed Rs2 trillion in deposits, marking two major achievements in its 26-year history.

The bank, which was founded in 1997 by investors from Abu Dhabi led by Chairman Sheikh Nahayan Mabarak Al Nahayan, said the milestones reflected its commitment to growth, innovation and customer-centricity in the country's banking sector.

The bank achieved the Rs2 trillion deposit mark in just two and a half years after reaching the Rs1 trillion mark, despite challenging economic conditions both at home and abroad.

"Over two decades ago, we had believed in the transformation in Pakistan's banking sector, today that dream has been materialised as we have evolved into a leading force in the banking industry," Sheikh Nahayan said in a statement. "Upon inaugurating our 1000th branch and surpassing Rs2 trillion deposits, I reflect on the enduring values of customer-centricity and innovation that have made Bank Alfalah synonymous with progress."

Sheikh Nahayan thanked the government and the central bank for their support and said the bank remained dedicated to the well-being of the people of Pakistan and the advancement of the nation's prosperity. Atif Bajwa, the bank's president and CEO, said the bank's journey was a testament to its commitment to excellence and its focus on people's banking needs by reimagining a digital future.

"Reaching the landmark of our 1000th branch and surpassing the milestone of PKR 2 trillion deposits, we reflect on our persistent efforts in transforming the banking landscape and reaffirm our resolve to focus on people's banking needs by reimagining a digital future," Bajwa said.