KARACHI: Bank Alfalah received the Best Bank Award for 2017 for demonstrating `the most significant contribution to national development and the most effective management of its resources, including its employees, clients, franchise community and financials`.

It received the honour at the second Pakistan Banking Awards, which were jointly organised by the Institute of Bankers, A.F. Ferguson and Company and Dawn Media Group on Tuesday.

United Bank received the sameaward last year.

However, Bank Alfalah was also declared the Best Bank for Customer Franchise. It received the award for extending and expanding its Islamic franchise and raising public awareness.

Telenor Microfinance Bank was declared the Best Bank for the Unbanked for paying attention to financial inclusion by expanding its outreach through rural and lowincome urban penetration and diversification among all segments of account holders.

It also received the Best Microfinance Banl( Award for its performance in terms of penetration, outreach efficiency and access to lowincome communities across Pakistan.

Habib Bank was declared the Best Bank for Small Business and Agriculture for its performance, diversification and quality of SME and agriculture lending nationwide.

United Bank was declared the Best Bank for Corporate Finance and Capital Market Development. Itexcelled in promoting capital market development, deepening secondary markets and providing advisory services to optimise the efficient use of industrial and commercial assets.

Meezan Bank was declared the Best Islamic Bank for expanding its Islamic banking franchise and raising public awareness.

JS Bank received the Best Environmental, Social and Governance (ESG) Bank Award for its conduct of responsible business.

A number of bankers, including State Bank of Pakistan Governor Tariq Bajwa, participated in the ceremony.

Speaking on the occasion, Mr Bajwa said the banking sector plays a vital role in economic development.

He added that the awards will encourage banks to improve their performance. The jury for the awards consisted of former State Bank governor Salim Raza, senior bankers Azhar Hameed, Shahzad Naqvi, Feroze Rizvi and Zeelaf Munir.