HBL disburses Rs1bln digital loans

KARACHI: Habib Bank Limited (HBL) has disbursed personal loans of over Rs1 billion within five months through its mobile app, a statement said on Monday.

HBL was the first commercial bank in Pakistan to offer its highly successful instant personal loan through HBL Mobile, a statement said.

This process enables customers to select and apply for a personal loan, of up to Rs500,000, with just a few taps on their mobile phone. “Customers can avail the service by simply logging in to their HBL Mobile and applying through the loan option in the menu bar,” the statement added.

The loan gets credited instantly into their account without visiting any branch or submitting any physical documents. Currently, the service was available to a select group of customers across Pakistan exclusively through the HBL Mobile.

Aamir Kureshi, head – global consumer banking at HBL, said, “HBL launched instant personal loans via the HBL Mobile app in October 2018 and within months we have disbursed over Rs1 billion worth of loans to thousands of our customers.”

The entire process was digital, where loans were approved within hours of customer request and disbursed instantly, he added.