HBL announced on Thursday that it is raising the staff service age from 60 to 65 years, citing its commitment to the well-being of its staff.

The policy comes into effect from September 1, 2022, meaning employees who turned 60 on or after this date are eligible.

"With effect from 01 September 2022, the Bank will retain all its management staff till the age of 65 years," it said in a press release.

"In the current socio-economic environment, this first-of-a-kind step is a game-changer for the financial industry. This ensures that the staff continue to financially support their families in the present global and local economically challenging times. Moreover, it will allow the Bank’s experienced staff members to further utilise their skills and also pass on those skills to the younger generation."

Muhammad Aurangzeb, President & CEO at HBL, stated, “The strides the Bank has made over the last eight decades, would not have been possible without the dedication and hard work of its people. HBL, with guidance from the Chairman and the Board of Directors, undertook the step of raising the service age to improve the quality of life of those we work with and those we serve."