Summit Bank is recognized as the best ever rising commercial bank in Pakistan. In August 2006, the bank incorporated its operations. Its infrastructure is based on the state of the art “Risk Management Framework” as well as “IT Plate form”. In limited time the bank has expanded its network across the country with remarkable achievements. The bank is trying to be recognized universally in terms of providing services and products in every major fragment of banking which includes Trade Finance, Corporate and Investment Banking, Consumer Banking and Commercial Mid Market/SMEs.
Arif Habib Securities Limited acquired Pakistan’s operation of Rupali Bank Limited under the scheme of Amalgamation which was approved by State Bank of Pakistan. In October 2007, Rupali Bank Ltd was renamed as Arif Habib Rupali Bank Limited and then finally as Arif Habib Bank Limited. In Mauritius, Suroor Investment Ltd acquired 59.41% stake in Arif Habib Bank Limited from Arif Habib Securities Ltd on 31st March 2010. Later, Arif Habib Bank Limited was rebranded as Summit Bank Ltd on 18thAugust 2010.
The bank geographically expanded its outreach with a network of 187 Real- Time Online branches across the country. The management vision and mission is to make the bank superior amongst all other bank. In addition to superior MIS, the bank has issued the best IT Plate form which provides SMS and Web based banking to the consumers. The Bank is dedicated to be acknowledged as an ideal supplier of financial services to the markets it serves. To accomplish these goals, the bank will make it self stronger in the medium of products and services differentiation, leverage optimal, financial service industry and by launching further branches. Summit Bank’s chairman is Mr. Nasser Abdullah Hussain Lootah and Mr.Hussain Lawais the president and CEO.
The bank has been rated short term as A-2 and long term as A-(SO) with a stable outlook by JCR-VIS Agency. Summit Bank has streamlined variety of products to facilitate their consumers of high potentials and these deposit products includes Rupee Traveler Cheque, Summit Classic Current Account, Rack Rate Sheet, Term Deposit, Saving Account, Mahana Amdan, Hamara Summit Family Saving Account, Call Deposit Receipt and Summit Advantage Account. In Pakistan Summit Bank is the leading bank in terms of electronic banking, they provide a diverse range of electronic services which includes Mobile Banking, Internet Banking, U Payments, Contact Centre, Bill Payments, eStatements, Mobile Balance Recharge, Visa Debit Card and Inter Bank Funds transfer. They have also launched two types of ATM card which are named as NIT Co-Branded ATM Card and NAFA Co-Branded ATM card.