HBL was the first commercial bank to be established in Pakistan in 1947. Over the years, HBL has grown its branch network and maintained its position as the largest private sector bank with over 1,750 branches and 2,000 ATMs globally and a customer base exceeding eleven million relationships.

The Government of Pakistan privatized HBL in 2004 through which AKFED acquired 51% of the Bank’s shareholding and the management control. The remaining 41.5% shareholding by the Government of Pakistan was divested in April 2015. AKFED continues to retain 51% shareholding in HBL while the remaining shareholding is held by individuals, local and foreign institutions and funds including CDC Group Plc which holds 5% and International Finance Corporation which holds 3%.