a network of online ATMs.

The Bank is listed on

Karachi, Lahore &Islamabad Stock Exchanges and
the initial public offering was over-subscribed 16
times.

W hile capturing the largest market share

amongst the new banks,
Askari Bank Ltd has provided good value to its
shareholders. Their shareprice has remained
approximately 12% higher than the average share
price ofquoted banks during the last four years.

Askari Bank
Ltd  is principally engaged in the business
of
banking as defined in the Banking Companies
Ordinance, 1962. As atDecember 31, 2002, the
Bank had total assets of Pak Rupees 70.313
billion,with over 250,000 banking customers.
A skari Bank is the only bank with its operational
Head Office in twin
cities of Rawalpindi & Islamabad, because Askari
Bank Ltd is directly operatedby Pak Army, which
has relatively limited opportunities as compared to
Karachiand Lahore. This created its own challenges
and opportunities, and forced themto evolve an
outward-looking strategy in terms of our market
emphasis. As aresult, they developed a
geographically diversified assets base instead of
aconcentration and heavy reliance on business in
major commercial centers ofKarachi and Lahore,
where most other banks have their operational
Head Offices.
1.2 Mission statement of the Askari Bank Ltd

L eading private sector bank in Pakistan with an

international presence,
delivering quality services through innovative
technology and effective human
resource management in a modern and progressive
organization culture of
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meritocracy, maintaining high ethical and

professional standards, while
providing enhanced value to all our stake-holders,
and contributing to society.
1.3 Awards and achievement of the Askari Bank
Ltd

O ver the years, Askari Bank Ltd have received

several awards for
the quality of their banking services to individuals
and businesses.

T hey have been declared "The Best Bank in

Pakistan" byGlobal
Finance magazine for the years 2001 & 2002. Also,
they have been given the
"Best Consumer Internet Bank" award for Pakistan
by the same magazine for
the year 2002. In 1994, 1996 and 1997, we
received Euro money andAsia
moneyawards.
Askari Bank
Ltd  has an A 1 + rating forshort-
term obligations
- the highest possible, for the category, while
thelong-term rating stands at
AA. Askari Bank Ltd won the prestigious "Best
Presented Annual
Accounts" awards for 2000 and 2001
from the Institute of Chartered
Accountants of Pakistan and the Institute of Cost
and Management
Accountants of Pakistan, for the services sector.
For the past four years, they
have received prizes from South Asian Federation
of Accountants for "The
Best Presented Annual Accounts" for financial
sector, inSAARC region.
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1.4 Services of the Askari Bank Ltd
O ver the years, Askari Bank Ltd has proved its
strength as a leading
banking sector entity, by achieving the following
firsts in Pakistani banking.
i) First Pakistani Bank to offer on-line real-time
banking on countrywide
basis.
ii) First Bank with a nation-wide ATM network.iii)
First Bank to offer Internet Banking services.iv)
First Bank to offer E-Commerce solutions.
1.5 Performance history of the Askari Bank Ltd
Business Volumes
2002(Rupees in
'000)
2001(Rupees in
'000)
2000(Rupees in
'000)
ASSETS
70,313073
50,980,392
38,454,262
LIABILITIES
66,140,409
48,401,674
36,299,707
NET ASSETS
4,172,664
2,578,718
2,154,555
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