Habib Bank was the first bank to give a huge loan of millions of rupees to the newly independent Pakistan. After Pakistan became independent in 1947, the country faced many financial challenges. To stabilize the economy and help run the government, Pakistan needed funds immediately.

At that crucial time, Habib Bank Limited stepped forward and provided the first loan in millions to the government of Pakistan. This support helped Pakistan manage its finances during its early days and provided a foundation for its economic development.

Habib Bank was one of the oldest and largest banks in the region, with a strong reputation and extensive network. It was originally founded in Bombay (now Mumbai) but moved its headquarters to Karachi after independence.

This loan played a significant role in Pakistan’s early government operations, helping to build infrastructure, pay salaries, and stabilize the economy.

In comparison, other banks like United Bank Limited (UBL), MCB Bank, and National Bank also played important roles later but Habib Bank’s contribution was the earliest and most critical.

Thus, the first bank to give a million-rupee loan to Pakistan government at independence was Habib Bank.