HabibMetro
Pakistani subsidiary founded in 1992
HABIBMETRO (Urdu pronunciation: [ha.ˈbiːb mɛ.ˈʈɾo] hah-BEEB-meh-TRO; stylized in all uppercase) is a Pakistani commercial bank headquartered in Karachi. It is a subsidiary of Swiss bank Habib Bank AG Zurich.
History
1992–2011: Early years, growth, and focus on trade finance
Habib Metropolitan Bank was established in 1992 as a subsidiary of Habib Bank AG Zurich, following the government's decision in 1991 to allow private banks in Pakistan. The bank is named after Habib Esmail, the founder of Habib Bank Limited, and is owned by the descendants of Habib's third son, Mohammedali Habib. The other branch of Habib family founded Bank AL Habib, which is owned by the descendants of Habib's elder son, Dawood Habib. The bank was listed on the Karachi Stock Exchange in the same year.
Kassim Parekh, who had served as the president of Habib Bank from 1984 to 1988, was appointed as chairman and CEO of Metropolitan Bank in 1992. During his tenure, the bank's growth was limited to Karachi and trade finance.
In 2006, Habib Bank AG Zurich's Pakistan operations were merged into Metropolitan Bank Limited and the bank was subsequently renamed as Habib Metropolitan Bank Limited.
In April 2008, Kassim Parekh left HabibMetro and was succeeded by Anjum Iqbal, a former Citibank executive.
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This entry incorporates text from “HabibMetro” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.