This US bank has something important to say about HBL's closure in New York

10:17 PM | 14 Sep, 2017
This US bank has something important to say about HBL's closure in New York
NEW YORK – "In light of recent news regarding HBL, HAB Bank, strongly affirms it has no direct, indirect or any affiliation whatsoever or shared ownership with Habib Bank Limited, a Pakistan-based financial institution with an office in Manhattan," as stated in a press release issued by HAB Bank, New York.

“HAB Bank proudly serves our consumer and commercial banking customers in the New York Tri-state area and California for over three decades,” said Saleem Iqbal, President and CEO of HAB Bank.

Saleem Iqbal further said HAB Bank is a US chartered, FDIC Insured bank with branches in three states. Our charter dates back to 1983. Habib Bank Limited on the other hand is Pakistan based foreign bank with a branch in New York City. As we have categorically stated over the last so many years, HAB Bank is not affiliated in any manner whatsoever with Pakistan based Habib Bank Limited or HBL.

The release further stated that HAB Bank is a U.S.-based community bank headquartered in Manhattan with FDIC membership. HAB Bank has no operations outside the US. The institution has operated continuously and successfully since its original incorporation in 1983 and has branches in NY, NJ and CA.

It said the bank has shown steady and consistent growth; we are one of the largest South Asian-American banks in the US with assets over $1.3 billion with branches in three states. We were one of the few community banks in the US which remained unscathed and actually grew during the Great Recession, which started in 2007. We will continue to grow and to serve the banking needs of the South Asian community in the US.

HAB BANK was incorporated in 1983 as a New York State Chartered Bank. HAB is a member of the Federal Deposit Insurance Corporation (FDIC), and holds $1.3 billion in assets as of June 30, 2017. Headquartered in New York, the Bank and besides Manhattan maintains branches in, Jackson Heights, Richmond Hill, Hicksville in NY, Iselin in NJ, Artesia and Downtown Los Angeles in CA.