Bank of Punjab (BoP) secured three awards at the 10th Pakistan Banking Awards held on Friday, while Meezan Bank Ltd was named Best Bank for the third time.
BoP received honours in the categories of Best Bank for Agriculture Inclusion, Best Bank for Women Inclusion, and Best Bank for SMEs, drawing strong appreciation from attendees. Meezan Bank retained its top position as overall Best Bank.
Bank Alfalah won in two categories — Best Bank for Digital Excellence and Best Bank for Customer Engagement. The Best Microfinance Institution Award went to Kashf Foundation, Faysal Bank was named Best Mid-sized Bank, and HBL received the award for Best Bank for ESG.
Addressing the ceremony before presenting the awards, State Bank of Pakistan (SBP) Governor Jameel Ahmad commended the role of the Pakistan Banking Awards but criticised the sector’s low private-sector lending and continued dependence on risk-free, high-yield government borrowing.
The SBP governor said the banking sector needed a fundamental shift over the next decade, driven by innovation, inclusion and responsibility. He stressed that the transformation would require banks to reorient their business models toward meeting the financial needs of the private sector, particularly SMEs and small depositors.
“Banks that continue to rely on easy returns from lending to the government will eventually be left behind by institutions that are mobilising deposits and meeting the growing credit needs of underserved segments,” he warned.
The governor outlined four priority areas for the sector: embedding digitalisation in customer services and internal operations; adopting artificial intelligence and machine-learning tools for better risk modelling and tailored products; integrating climate risk into lending decisions and developing green financing instruments; and realigning strategies to support Pakistan’s exporters.
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