The only bank run by an army is Askari Bank, which is known to be the master in banking. On 9th October, 1991, the bank was integrated in Pakistan as a Public Limited Company. It launched its operations on 1st April1992. The bank predominantly deals with banking, as distinct in the Banking Company Ordinance. Askari head quarter is in Rawalpindi, Islamabad. After it was successfully established the bank was listed on the Islamabad, Lahore and Karachi Stock Exchanges.
As the bank was known to be the chief of banks it has a network of 245 branches which includes 31 Islamic Banking and has launched a Wholesale branch in Bahrain. In all major cities of Pakistan it has a shared network of 4,173 online ATM’s. In 2009, the bank achieved intended expansion in business and operations. On 31 December, 2009, the bank declared its share of about Rs.254 billion which was 23 percent more then the shares of previous year and the customer deposits reached up to Rs.206 billion. They showed such a brilliant performance, that after paying all taxes it showed an increase of 187% at Rs.1.11 billion from the last year earning which was remarkable.
In 2004 and 2005 the Askari Bank was awarded as, “The Best Retail Bank in Pakistan” and in 2002 and 2003 the bank was given, “The Best Consumer Internet Bank” which was given by Global Finance magazine. Some of the products and services provided by the bank to the consumers are ASK 4 CAR, Mortage finance, ASKCARD i.e. Askari debit card, Master card and Personal finance. For the agricultures the bank has provided the facility of Kissan Aabpashi finance, Kissan evergreen finance, Kissan farm mechanization finance, Kissan tractor finance and last but not the least Kissan livestock development finance. ATM, Call Centre and I-Net banking are the alternate banking channels provided by the bank to facilitate the costumers.
The bank has an organized banking system which facilitates its customers in all aspects. Askari and China mobile network in Pakistan that is Zong has introduced a new branchless banking system which is known as Time Pay. The bank also provides free cheque books and credit cards to the purchasers. More over the bank has provided the facility of Halal banking which acquire all Shariah standards. Its Islamic Banking network has expanded up to 29 branches and 2 sub-branches in the major cities of the country. Waseem Ahmed Ashraf is the chairman and M.R.Mehkari is the bank’s CEO. Its official website is www.askaribank.com.pk.