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. 48.947 billion (US$170 million)[1] (2022) |
Rs. 22.393 billion (US$78 million)[1] (2022) | |
Rs. 11.233 billion (US$39 million)[1] (2022) | |
Total assets | Rs. 1.074 trillion (US$3.7 billion)[1] |
Total equity | Rs. 59.435 billion (US$210 million)[1] |
Number of employees | 8,011[1] (2022) |
Parent | KSA Holdings |
Website | www |
Faysal Bank Limited is a Pakistani Islamic bank, a subsidiary of KSA Holdings 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]