a network of online ATMs

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a network of online ATMs. The Bank is listed on

Karachi, Lahore &Islamabad Stock Exchanges and

the initial public offering was over-subscribed 16times.

While capturing the largest market shareamongst the new banks,

Askari Bank Ltd has provided good value to itsshareholders. Their shareprice has remainedapproximately 12% higher than the average share

price ofquoted banks during the last four years.

Askari BankLtd is principally engaged in the businessofbanking as defined in the Banking CompaniesOrdinance, 1962. As atDecember 31, 2002, theBank had total assets of Pak Rupees 70.313

billion,with over 250,000 banking customers.


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Askari Bank is the only bank with its operational

Head Office in twincities of Rawalpindi & Islamabad, because AskariBank Ltd is directly operatedby Pak Army, whichhas relatively limited opportunities as compared to

Karachiand Lahore. This created its own challenges

and opportunities, and forced themto evolve anoutward-looking strategy in terms of our market

emphasis. As aresult, they developed ageographically diversified assets base instead of

aconcentration and heavy reliance on business inmajor commercial centers ofKarachi and Lahore,where most other banks have their operational

Head Offices.

1.2 Mission statement of the Askari Bank Ltd

Leading private sector bank in Pakistan with aninternational presence,

delivering quality services through innovativetechnology and effective humanresource management in a modern and progressiveorganization culture of


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meritocracy, maintaining high ethical andprofessional standards, while

providing enhanced value to all our stake-holders,and contributing to society.

1.3 Awards and achievement of the Askari Bank

Ltd

Over the years, Askari Bank Ltd have received

several awards forthe quality of their banking services to individualsand businesses.

They have been declared "The Best Bank inPakistan" byGlobalFinance magazine for the years 2001 & 2002. Also,they have been given the

"Best Consumer Internet Bank" award for Pakistan

by the same magazine forthe year 2002. In 1994, 1996 and 1997, wereceived Euro money andAsiamoneyawards.


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Askari BankLtd has an A 1 + rating forshort-term obligations- the highest possible, for the category, while

thelong-term rating stands atAA. Askari Bank Ltd won the prestigious "Best

Presented AnnualAccounts" awards for 2000 and 2001from the Institute of Chartered

Accountants of Pakistan and the Institute of Cost

and ManagementAccountants of Pakistan, for the services sector.For the past four years, theyhave received prizes from South Asian Federation

of Accountants for "TheBest Presented Annual Accounts" for financial

sector, inSAARC region.3


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1.4 Services of the Askari Bank Ltd


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Over the years, Askari Bank Ltd has proved its

strength as a leadingbanking sector entity, by achieving the followingfirsts 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 Volumes2002(Rupees in

'000)

2001(Rupees in

'000)

2000(Rupees in

'000)

ASSETS

70,31307350,980,392

38,454,262

LIABILITIES

66,140,409


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48,401,674

36,299,707

NET ASSETS

4,172,6642,578,718

2,154,5554

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