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Highest paid CEOs despite the burden of high taxes, Pakistan’s banking sector continues to be quite profitable because of the competitive interest and profit rates it provides. Even though the margins are being squeezed these difficult times due to the declining financing to the private sector, the banks find refuge in the government securities highest paid CEOs return on investment.
The banking industry faces intense competition on a number of fronts, including deposit mobilization, consumer financing, remittance services for Pakistanis living abroad, safeguarding the interests of shareholders, enforcing central bank policies, and much more. The primary goal of these banks, which is being led by the CEOs in conjunction with the management and their teams, is asset and profit growth.
Pakistan’s banking sector remains profitable despite the burden of high taxes, thanks to the competitive interest and profit rates it offers. Despite facing tough times with declining financing to the private sector, the banks find solace in government securities and the highest paid CEOs’ return on investment.
The banking industry faces intense competition in various areas, including deposit mobilization, consumer financing, remittance services for Pakistanis living abroad, safeguarding shareholders’ interests, enforcing central bank policies, and more. The primary objective of these banks, led by the CEOs in collaboration with the management and their teams, is asset and profit growth.
Pakistan’s banking sector remains profitable despite the burden of high taxes, thanks to the competitive interest and profit rates it offers. Despite facing tough times with declining financing to the private sector, the banks find solace in government securities and the highest paid CEOs’ return on investment.
The banking industry faces intense competition in various areas, including deposit mobilization, consumer financing, remittance services for Pakistanis living abroad, safeguarding shareholders’ interests, enforcing central bank policies, and more. The primary objective of these banks, led by the highest paid CEOs in collaboration with the management and their teams, is asset and profit growth.
Below is a summary of Pakistan’s Top the Pay of Bankers.
Irfan Siddiqui – President and highest paid CEOs of Meezan
#meezanbank
Irfan Siddiqui, the president and chief executive officer of Meezan Bank, received the highest paid CEOs in Pakistan’s banking sector. In 2022, he received payment of Rs. 422 million, which represents a 37 percent increase, or Rs. 116 million, over his earnings from the previous year (Rs. 306 million). Under his leadership, the bank reached a record-breaking profit of Rs. 45 billion in 2022, the highest ever in the industry with a growth rate of 59 percent year over year. This made the bank the most profitable bank ever.
His bank was ranked fifth on the list of most profitable banks last year, and he was ranked second on the list of highest paid CEOs who made the most money. 2023 Sees Him and His Bank Reached the Number One Spot.
He is the founding president of the bank, having established the groundwork for contemporary Islamic banking in Pakistan by starting the bank’s operations from scratch.
Habib Bank Limited’s President and highest paid CEOs, Muhammad Aurangzeb
In the banking industry, Muhammad Aurangzeb is the second highest paid CEOs recipient. In 2022, he received a salary package of Rs. 307 million, whereas in 2021, it was Rs. 265 million. Though it lost its position as the bank with the highest profit, it was still able to maintain a respectable profit of Rs. 34.4 billion, which was historically recorded as the second-highest profit. The Bank Has Advanced Significantly Under His Direction in a Number of Sectors, Including Branchless Banking, Agriculture Financing, and the Most Well-Known and Successful Project, Pakistan Super League. It’s Possible That Future Banks Will Take Up His Initiatives.
Shazad Dada – President and highest paid CEO United Bank Limited
Shazad Dada is regarded as one of Pakistan’s highest paid CEOs Bankers. He held the third position in 2022 and received a salary package of Rs. 269 million. He received Rs. 340 million, the highest income from the banking sector, in 2021.The Bank’s profit surged to an all-time high of Rs. 32 billion during his management, with year-over-year growth of 4%. The Bank Made Outstanding Advancements in Technology as Well.
Shaikh Rehan Head of Standard Chartered Bank and highest paid CEOs of president
Rehan Shaikh’s salary increased by Rs. 50 million to Rs. 244 million in 2022 from the Rs. 194 million reported in 2021. The Bank continued to follow its profit trajectory under his direction, reporting a record all-time high profit of Rs. 19.84 billion in 2022—45 percent more than the previous year. The bank moved up two spots in the list of the most profitable banks.
Atif Bajwa, the CEO and President of Bank Alfalah
#BankAlfalah
Atif Bajwa possesses a firm grasp of the local market’s dynamics. His reported annual income in 2022 was Rs. 225 million, up from Rs. 187 million in 2021, a 37 million increase. Under His Direction, with a 27% year-over-year increase in profitability, the bank saw notable growth. In 2022, the Bank Saw Increases in Deposits, Assets, and the Branches Network.
Bank of Punjab President and CEO Zafar Masud
In 2022, Bank of Punjab’s President and CEO, Zafar Masud, received a hefty rise of Rs. 47 million. His reported income in 2022 was Rs. 181 million, significantly more than the Rs. 134 million he received in 2021. Zafar makes far more money than the president of the National Bank of Pakistan because he is the CEO and president of a public sector bank that is owned by the province government. He was ranked sixth this year after ranking among the top ten highest paid CEOs the previous year. Masud has implemented a plan to change the way his bank operates so that it functions more like a private bank in terms of technological implementation and service quality.
Bank Al Habib’s President and CEO, Mansoor Ali Khan
Mansoor Ali Khan’s salary increased by Rs. 38 million, or 29 percent, from Rs. 128 million in 2021 to Rs. 166 million in 2022. Regretfully, the Bank’s performance in generating profitability was appalling, with a year-over-year decline of 11% in 2022, mostly as a result of provisioning in sovereign bonds. Among the top ten banks in the nation, it is the second bank to have had a decline in profitability.
Faysal Bank’s President and CEO, Yousaf Hussain
Yousaf Hussain received an annual salary increase of Rs. 29 million, or 21%, from his highest paid CEOs salary of Rs. 137 million in 2021 to Rs. 166 million in 2022. In 2022, the Bank reported an all-time high profit of Rs. 11.4 billion while being managed by him.
Under his direction, the Bank also successfully completed the task of transforming from a conventional to a sharia-based banking system in 2022.
Mohsin Ali Nathani, Habib Metro Bank’s president and CEO
Mohsin Ali Nathani’s reported annual income for 2022 was Rs. 144 million, up 16 percent or Rs. 20 million from the Rs. 124 million reported for 2021. Managed by Him, Habib Metro Bank consolidated its ranking as one of Pakistan’s top ten profitable banks in 2022. With an 8% increase from the previous year, it reported a profit of Rs. 14.9 billion, the highest the bank had ever made.
McB Bank’s President and CEO, Shoaib Mumtaz
#McBBank
The President and highest paid CEOs of McB Bank, Shoaib Mumtaz, earned Rs. 105 million in revenue in 2022. Compared to his predecessor Imran Maqbool, who last received an annual income of Rs. 233 million in 2021 along with benefits and perks, his salary was significantly lower.
Under his direction, McB Bank continued to hold the second-best spot among the nation’s ten most profitable banks. It’s Profitability Increased Decently by 6.6% and Surged to Rs. 34.45 billion in 2022, which is the highest amount ever.
Other Bank
There is a significant variation in the salaries of bankers across different banks in Pakistan. While some bankers earn almost Rs. 400 million annually, others receive around Rs. 100 million. Banks like Samba Bank and Bank Islami usually have fewer employees and offer yearly salary packages of less than Rs. 100 million, based on their profitability and performance.
In addition to their salaries, bankers are also eligible for various benefits and perks, such as awards, special allowances, company-maintained cars, club fees, and international tours.
