Owned and operated by the Abu Dhabi Group, Bank Alfalah has emerged as a leading and one of the fastest growing banks in Pakistan. As a business, we have never stood still. Over the years we have expanded our network, invested in new technology and developed high service standards. In a short span of 18 years, Bank Alfalah has become the fifth largest private Bank in Pakistan with a network of 648 branches across 196 cities in the country. The Bank has an international presence in Afghanistan, Bangladesh, Bahrain with a representative office in UAE.
The Bank provides financial solutions to consumers, corporations, institutions and governments through a broad spectrum of products and services, including corporate and investment banking, consumer banking and credit, securities brokerage, commercial, SME, agri-finance, Islamic and asset financing.
Customer Centricity At Bank Alfalah, customers are at the front and centre of our universe. Understanding our customers' needs, developing innovative financial solutions and building long-term relationships are the foundations of our commitment to our customers. Our continuing determination to exceed customer expectations by providing innovative solutions at affordable rates coupled with exceptional customer service sets us apart from the rest.
Leading position in Consumer Finance
Our strategic intent to develop a process-driven 'built to last' consumer business is well demonstrated by the Bank's Consumer Finance group. Bank Alfalah is the largest issuer and acquirer of credit cards in Pakistan and also enjoys a leading position in new customer acquisition for Alfalah Car Finance.
The Bank strives to provide new, innovative solutions based on the unique needs of our customers and has been able to create a comprehensive Consumer Finance product suite. Earlier this year, new product initiatives such as Wealth Management, Green Mortgage and Personal Loan were introduced. The Bank is also the exclusive partner for American Express cards in Pakistan and is planning to launch American Express cards soon.
Reaching out to the unbanked masses
It is our endeavour to enhance inclusion of the SME sector into the financial mainstream by providing complete banking solutions and financial advisory services to meet the unique needs of the unbanked masses. Bank Alfalah's SME business saw significant transformation from simple lending solutions to understanding the holistic needs of our customers and providing complete SME Banking solutions to them. We revamped our business model, under the advisory services of IFC and have successfully transformed our business strategy to serve this sector with continued zeal and passion. We are looking to provide end to end solutions, which focus on meeting the financial, non-financial, transactional, investment and advisory needs of our SME customers.
A long term strategic collaboration is the Bank's partnership with the International Finance Corporation (IFC) of the World Bank, which strengthens our ability to provide a wider range of services and better access to finance for the unbanked. Under this partnership, IFC invested USD 67million to acquire 15 percent equity stake in Bank Alfalah.
Leading Islamic Banking Operations
With a network of 157 dedicated branches across the country, the Bank's Islamic Banking business continues to serve as one of the largest Islamic Banking offering in Pakistan. Bank Alfalah has won the 'Best Islamic Banking Window" award by the Global Islamic Finance Awards (GIFA), for two consecutive years. Bank Alfalah Islamic Banking was recently awarded the "Best Islamic Banking Division" & "Best Research and Development" in Pakistan by Islamic Finance Awards - 2015 (IFA).
With a full range of Shariah Compliant Islamic Banking solutions for corporate and consumer banking customers, the Bank is geared towards exploring new markets with a view to diversify its client base and provide bespoke financial solutions, rather than a 'one size fits all' outlook.
Digital Innovations
Bank Alfalah has risen to the challenge of reconnecting with its customers and renewing their banking experience by making significant strides in introducing digital technologies and solutions.
We understand the need for a strong acceptance network with increasingly responsive services for our banking customers and have strengthened our alternative distribution channels and branchless banking networks.
Continuous Investment in Technology
We continue to invest in strengthening our technology front, so that we are equipped with a more robust, competitive and value-added interface that meets the needs of our customers. We intend to achieve faster turn-around-time, smoother online transactions and more efficient operations, all leading to a better transactional environment for customers and employees.
Fostering Talent
Our human resource is our strongest and most important asset. We have invested in human capital by putting in place an experienced leadership team and continue to focus on attracting and developing the best talent.
Over the years, the Bank has successfully attracted and developed key talent across the organisation. Continued focus on identifying people with essential knowledge and skills and on creating learning and development opportunities to foster talent has helped us in building a professional and engaged team that works in line with the Bank's strategic direction.
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