Pakistani bank CEOs having the highest salaries
Here is an overview of Pakistan's top bankers and their salaries.
1. Shahzad Dada - United Bank Limited
The CEO and President of United Bank Limited (UBL), Shahzad Dada, is the highest-paid banker in the country. He drew an overall income of Rs. 340 million in 2021, including a salary of Rs. 232 million and a special reward of Rs. 108 million.
He took charge of the bank last year, replacing Sima Kamal, who is now the Deputy Governor of the State Bank of Pakistan. Under his brief leadership, UBL's profit surged by a staggering Rs. 10 billion to reach Rs. 30.6 billion in 2021. It also improved its ranking from fifth place to third in terms of profit with a very close competition with MCB Bank which recorded a profit of Rs. 30.8 billion in the same year.
2. Irfan Siddiqui - Meezan Bank The CEO and President of Meezan Bank, Irfan Siddiqui, is the highestpaid Islamic banker in Pakistan who reportedly drew an annual salary of Rs. 306 million last year as compared to Rs. 275 million salary package in 2020 and also received an annual raise of Rs. 31 million from the bank.
His endeavors translated well into the sustainable growth of leading Islamic banks but his contribution to the growth of the Islamic banking industry in the country is remarkable. Starting from scratch, Meezan Bank acquired various financial institutions, including Société Générale, HSBC Pakistan, and HSBC Oman. It also achieved various benchmarks, including its assets value and deposit mobilization.
3. Muhammad Aurangzeb Habib Bank Limited
Muhammad Aurangzeb is the CEO and President of Pakistan's biggest bank - Habib Bank Limited. In the last few years, he used to be the most expensive banker in the banking industry but ranked number 3 in terms of a salary package of Rs. 265 million that he had drawn from the bank in 2021 against an income of Rs. 222 million in 2020. 4. Imran Maqbool - MCB Bank Imran Maqbool, the retiring CEO and President of MCB Bank is on the list of the top five highest-paid bankers in Pakistan. He drew an annual income of Rs. 235 million in 2021, which is Rs. 108 million or 85 percent higher than the salary he received from the bank in 2020, which was Rs. 127 million. The astronomical rise in income was apparently a good gesture from the bank in recognition of his dedicated services.
5. Rehan Shaikh - Standard Chartered Bank
Rehan Shaikh, the CEO and President of Standard Chartered Bank (SCB), made an annual income of Rs. 194 million in 2021, with a staggering increase of Rs. 51 million from last year. Maintaining a modest annual profit growth of 4.4 percent, SCB achieved a profit of Rs. 13.7 billion in 2021 as compared to its profit of Rs. 13.13 billion in 2020.
6. Atif Bajwa - Bank Alfalah
The President and CEO of Bank Alfalah, Atif Aslam Bajwa, is an old guard of the bank who has been reappointed as its top banker after a term of 3 years.
Bajwa's annual salary package is incredible. He drew an annual income of Rs. 187 million in 2021, along with perks and benefits, and drove the bank towards profitability and innovation again.
7. Mohsin Nathani - Habib Metropolitan Bank
Mohsin Nathani, the President and CEO of Habib Metropolitan Bank, is one of the most experienced bankers in Pakistan who deserves to be well-paid. Under his management, the bank reported its highest-ever profit of Rs. 12 billion, with a staggering growth of 82 percent YoY.
His income in 2021 was Rs. 144 million, which was Rs. 20 million higher than in 2020.
8. Mansoor Ali Khan - Bank Al Habib
Mansoor Ali Khan has been the CEO and President of Bank Al Habib since 2016 and has maintained a low profile in the banking industry but has kept the bank on the path of sustainable growth and expansion.
9. Yousaf Hussain - Faysal Bank Yousaf Hussain is the CEO and President of Faysal Bank, and has been associated with it since 2008, and became its CEO and President in 2017. Under his leadership, the bank successfully transformed its bank mode from a conventional system to Shariacomplaint, and Faysal Bank is close to completing its full conversion to Islamic banking in a few months.
10. Zafar Masud - Bank Punjab
Zafar Masud, the CEO and President of the Bank of Punjab, is a miracle man for many reasons. Under his management, the bank posted a yearly growth of 79 percent in 2021 and made a profit of Rs. 12.4 billion against its profit of Rs. 6.9 billion reported in 2020.