Habib Bank AG Zurich celebrates 50th Anniversary

"We have certainly come a very long way from the first bold days of this bank to the global network we are today," said Muhammad H. Habib, president of Habib Bank AG Zurich.

Habib Bank AG Zurich on Tuesday celebrated its 50th Anniversary at an exclusive event that looked back on decades of banking excellence, and sought to honour those that had been part of the bank's journey from it very beginning.
Muhammad H. Habib, president of Habib Bank AG Zurich, in his opening speech, took the time to recall how the bank came into existence.
"The origins of banking in our family began from a tradition of trust and integrity," he said. "Our great grandfather, who was a metal trader in the 1920s in Mumbai, became a custodian of people's money because of his reputation of being honest and trustworthy. His sons, our grandfathers, formalised the banking business by forming Habib Bank Limited in 1941 in British India. After the partition in 1947, Habib Bank moved its head office to Karachi in Pakistan, where it played a pivotal role in supporting the new nation's people in all their financing and banking needs."
Trade flourished, and as the population of the country grew, the bank also expanded its network globally by opening branches in major cities of the world to facilitate trade. The story of Habib Bank AG Zurich (HBZ) began in Switzerland in 1967. The Banker Magazine in its July 2016 issue ranked HBZ as the '4th Most Sound Bank' in Switzerland and as the '204th Soundest Bank' in the world. The new bank would go on to begin operation in the UAE in 1974.
"The banks flourished in the Gulf, which was experiencing an oil boom in the 1970s," Habib said, adding that HBZ is today viewed as one of the top five international banks in the UAE.
Today, HBZ has eight branches across the country in the emirates of Abu Dhabi, Dubai, and Sharjah offering a full range of commercial banking services and an Electronic Banking Unit (EBU) at Dubai Marina. The bank's technology innovation began in the UAE in 1994, and has resulted in HBZ winning multiple international, regional and UAE awards. The UAE operations contribute significantly in technology and operational excellence across the group's international footprint.
Habib noted that much of the bank's success can be attributed to its loyal employees. He also revealed that, like his family, many generations of workers and their families chose to start their career at the bank.
Shaikh Sikandar, assistant vice president, Treasury & Investment, at Habib Bank AG Zurich, who spent more than 40 years working at the bank; and Muhammad Javaid Alam, assistant vice president of Treasury, spoke about their experiences over the years. They extended their congratulations to the Habib family and were thankful to the support that they had received in their careers. Both said that the bank felt like a home and was a wonderful place to build a career.
"Having celebrated the 50th anniversary of our bank we have certainly come a very long way from the first bold days of this bank to the global network we are today. There have been lots of moments to treasure and celebrate as well as challenges that we have had to overcome together. With strong faith and your dedication we shall go from strength to strength and look with great excitement to our future. We now look forward to the fourth generation of the family that will take this bank forward over the next 50 years," Habib said.
- rohma@khaleejtimes.com

Rohma Sadaqat

rohma@khaleejtimes.com