Native name | Urdu: فیصل بینک لمیٹڈ |
---|---|
Company type | Public |
PSX: FABL | |
Industry | Islamic banking |
Founded | 3 October 1994 |
Headquarters | Karachi, Pakistan |
Key people | |
Products | Islamic banking, loans, consumer banking, business banking, priority banking, credit cards, debit cards, savings |
Revenue | Rs. 83.142 billion (US$290 million) [1] (2023) |
Rs. 41.422 billion (US$140 million) [1] (2023) | |
Rs. 20.046 billion (US$69 million) [1] (2023) | |
Total assets | Rs. 1.370 trillion (US$4.7 billion) [1] (2023) |
Total equity | Rs. 90.198 billion (US$310 million) [1] (2023) |
Number of employees | 8,787 [1] (2023) |
Parent | KSA Holdings |
Website |
www |
Faysal Bank Limited is a Pakistani Islamic bank, a subsidiary of KSA Holdings, the ultimate parent of bank is KSA Holdings and Ithmaar Bank, [2] based in Karachi, Pakistan. [3] It is named after Mohammed bin Faisal Al Saud.
Faysal Bank has over 700+ branches across 270+ cities in Pakistan.
Faysal Bank started in Pakistan in October 1987, with a tiny branch and as a subsidiary of Faysal Islamic Bank, a Bahraini bank owned by Mohammed bin Faisal Al Saud, the son of the late King Faisal of Saudi Arabia. [4]
It was incorporated in Pakistan on 3 October 1994, as a public limited company under the Companies Ordinance, 1984. ABN AMRO Bank Pakistan, a predecessor to Faysal Bank, acquired Prime Commercial Bank consisting of 69 branches and spanning 24 cities in 2007 for US$227 million to expand its loan and deposit base. [5]
In June 2010, Royal Bank of Scotland sold its Pakistan operations to Faysal Bank for £34 million. [6]
In 2014, it announced to convert itself into a full-fledged Islamic Bank in three to five years. [7] It finally converted to a full-fledged Islamic bank by December 2022. [8]