Transmission of Annual Report for the Year Ended December 31, 2024

BOARD OF DIRECTORS

Lt Gen Anwar Ali Hyder, HI (M) (Retd)

Chairman/ Non-Executive Director

Mr. Jahangir Piracha

Non-Executive Director

Mr. Arif Ur Rehman

Non-Executive Director

Syed Bakhtiyar Kazmi

Non-Executive Director

Mr. Khurshid Zafar*

Non-Executive Director

Mr. Manzoor Ahmed

Non-Executive Director/ NIT Nominee

Mr. Kamran Yousuf Mirza

Independent Director

Ms. Zoya Mohsin Nathani

Independent Director

Ms. Samina Rizwan

Independent Director

Raja Muhammad Abbas

Independent Director

Mr. Zia Ijaz

President & Chief Executive Officer

SHARIAH BOARD

Mufti Muhammad Zahid

Chairman

Dr. Muhammad Tahir Mansoori

Resident Shariah Board Member

Mufti Zakir Hassan Naumani

Member

Dr. Lutfullah Saqib

Member

AUDITORS

KPMG Taseer Hadi & Co.,

Chartered Accountants

LEGAL ADVISORS

RIAA, Barker Gillette

Advocates & Corporate Counselors

COMPANY SECRETARY

Syed Ali Safdar Naqvi

REGISTERED OFFICE

AWT Plaza, The Mall, P. O. Box No. 1084

Rawalpindi - 46000, Pakistan

Tel: (92 51) 8092631

UAN: (92 51) 111 000 787

Fax: (92 51) 2857448

Email: ir@askaribank.com.pk

* Subject to Fit & Proper Test clearance by the State Bank of Pakistan

BOARD COMMITTEES

AUDIT

Mr. Kamran Yousuf Mirza - Chairman

Mr. Jahangir Piracha

Syed Bakhtiyar Kazmi

Mr. Manzoor Ahmed

Raja Muhammad Abbas

HUMAN RESOURCE &

REMUNERATION

Mr. Manzoor Ahmed - Chairman

Mr. Jahangir Piracha

Mr. Kamran Yousuf Mirza

Ms. Zoya Mohsin Nathani

Ms. Samina Rizwan

RISK MANAGEMENT

Ms. Zoya Mohsin Nathani - Chairperson

Syed Bakhtiyar Kazmi

Mr. Manzoor Ahmed

Mr. Khurshid Zafar*

INFORMATION TECHNOLOGY

Ms. Samina Rizwan - Chairperson

Syed Bakhtiyar Kazmi

Mr. Khurshid Zafar*

Raja Muhammad Abbas

Mr. Zia Ijaz

REGISTRAR & SHARE TRANSFER OFFICE

CDC Share Registrar Services Limited (CDCSRSL) Mezzanine Floor, South Tower, LSE Plaza 19-Khayaban-e-Aiwan-e-Iqbal, Lahore

Tel: Customer Support Services (Toll Free) 0800-CDCPL (23275)

Tel: (92 42) 36362061-66

Fax: (92 42) 36300072

Email: info@cdcsrsl.com

Website: www.cdcsrsl.com

ENTITY RATINGS

Long Term: AA+

Short Term: A1+

By PACRA

WEBSITE & SOCIAL MEDIA

www.askaribank.com

askaribankpakistan Askari_Bank askaribankpk askaribanklimited AskariBankOfficial

Corporate, Commercial & Investment Banking

Askari Bank (the Bank) understands the diverse business requirements of the Bank's corporate and institutional clients, and accordingly strive to meet their expectations by providing a customized and relationship-based banking approach.

Corporate Banking

Corporate banking works on a long-term relationship based business model to provide a single point within the Bank which meets all business requirements of its corporate and institutional customers, including public sector enterprises. Along with innovative products and solutions, customer service remains the Bank's top priority. The Bank's relationship-oriented outlook focuses on providing a complete array of tailored financing solutions that are practical and cost effective, some of which include:

• Working Capital Facilities
• Term Loans
• Letters of Guarantee
• Letters of Credit
• Discounting Facilities
• Export Financing
• Cash Management and Employee Banking Solutions

Commercial Banking

Commercial Banking serves the middle tier segment by providing both general and tailored solutions encompassing all financial needs of the borrower ranging from Trade Finance to working capital requirements. Dedicated relationship managers provide customized solutions to the Bank's customers.

Investment Banking

Investment banking offers a range of financial advisory and capital raising services to corporate and institutional clients. It also manages the Bank's proprietary investments in local equity and debt markets. Investment banking offers various tailored financial solutions including debt syndications, project finance and advisory services, debt placements through capital markets as well as structured trade finance facilities. Whether a company is seeking to access the local or cross border syndications and debt capital markets, project financing needs, advisory services related to Mergers and Acquisitions and or local equity capital markets for raising capital, the Bank's Investment Banking is well positioned to provide due assistance. We tailor the right structured solutions to meet the Bank's customers' needs in order to enhance business wealth and market competitiveness.

International Banking

Having Correspondent Banking relationships with 555 banks in 83 countries around the world, Askari International Banking remains focused on tapping new markets in Europe apart from South East Asia and Middle East markets to boost international trade and remittances. Concentrated efforts are also being made

to promote business from China, leveraging on positive spill-over of Chinese investment in Pakistan, especially under CPEC.

Retail Banking

Askari Bank is committed to deliver a comprehensive range of financial solutions, tailored to meet the diverse banking requirements of the Bank's customers. With expertise spanning from Conventional, Corporate, Consumer, Islamic, and Agriculture Banking, the Bank ensures tailored offerings for every segment through an extensive network of 720 strategically located branches and sub-branches.

Current Account

Current Accounts cater to a variety of transactional needs of the Bank's diverse customer base with value added benefits of Cheque books, Debit cards, Bankers' cheques, Real Time Alerts, and i-Net Banking and much more.

Savings Account

Savings accounts are offered by the Bank to both individual and institutional customers including a range of specialized products i.e. Askari Maximiser, Askari Waqaar (for senior citizens), Askari Little Champs (for minors), Institutional Savings Plus (for entities). Combining attractive features with competitive returns, these products deliver flexible, secure, and rewarding financial solutions tailored to diverse customer needs.

Term Deposit

The Bank's Term Deposit products are crafted to meet the investment needs of both individual and corporate customers with a medium to long-term horizon. By seamlessly integrating security and adaptability, these products provide flexible profit options with customizable frequencies to align with customer preferences.

Askari Value Product Suite

The Value Product Suite provides unparalleled flexibility, financial security, and freedom. Offering a comprehensive range of exclusive benefits and complimentary facilities, this suite delivers tailored solutions that enable seamless financial management.

Askari Asaan Account

Askari Bank offers Asaan Account to unbanked / underbanked individuals. The product is available in Current and Savings account categories. It offers hassle-free account opening and operating procedure to facilitate lower income groups for their banking requirements.

Askari Sahar Proposition

Askari Sahar Deposit Suite is specifically designed to cater to the diverse banking needs of Pakistani women, with the aim to minimize the gender gap in financial inclusion. Askari Sahar account is offered in all Current,

Savings and Term Deposit variants with range of free banking services and attractive returns.

Women Financial Services Department - (Women Banking Segment)

Women Financial Services Department (WFSD) at Askari Bank is committed to empowering women by creating an inclusive ecosystem where women thrive as independent contributors to a more equitable economy. Tailored financial solutions are offered to housewives, students, entrepreneurs, and professional women by simplifying banking experience and offering competitive mark-up rates. Dedicated Women Financial Services Desks, led by Women Champions have been established to ensure their seamless access to banking services and empowering them to make informed financial decisions. Introduced digital account opening and a web-based loan portal, alongside the SMEDA Awareness Vault, to provide women with essential resources and support for managing their businesses.

China Desk

Askari Bank's China Desk remains a cornerstone of our commitment to fostering strong financial and trade relations between Pakistan and China. Askari China Desk was created with the sole intent of facilitating Chinese businesses working for various projects in Pakistan and has been immensely successful in term of fostering rich financial prospects and bringing in valuable Chinese deposits and trade. With an increasing number of Chinese investors entering Pakistan, the Bank is well-placed to cater the needs of all existing and new customers. Our Representative Office in Beijing - China, plays an important role in facilitating these initiatives, ensuring that we remain a trusted financial partner in the Belt and Road Initiative.

Askari Asaan Remittances & Roshan Digital Account

Home Remittance segment is pivotal in promoting remittances through its state-of-the-art web based portal "Askari Asaan Money Transfer" ensuring secure, fast & real time processing of home remittances for direct account transfers, M-wallet credits, and cash over-the- counter remittance payments at branches nationwide. This service is completely free of cost and is available for all citizens across the country.

With the Roshan Digital Account, non-resident Pakistanis can invest in Pakistan with remarkable ease. Customers have the option to open a foreign currency account in USD, GBP, EUR or PKR under both conventional and Islamic banking Frameworks. Additionally, this account offers attractive investment opportunities, including Naya Pakistan Certificates and Islamic Naya Pakistan certificates issued by the government.

Digital Banking - Pioneering Today - Shaping Tomorrow

- Digital Banking Leading The Way

The year 2024 marked a dynamic acceleration of the transformative momentum. Our focus was resolutely directed towards materializing our mission of "Getting

Closer to the Customer." We navigated this path by steadfastly designing products and services that revolve around the customer, while concurrently achieving substantial scale. Our operational strategy adhered to the principles of streamlined and swift customer delivery. In a dynamic landscape, characterized by rapid technological advancements and evolving customer expectations, our Digital Banking initiatives have not only kept pace but have consistently surpassed benchmarks.

Mobile App Journey - From Lagging to Leading

Askari Bank's Mobile App has undergone a complete transformation by establishing itself as one of the industry leaders. By December 2024, the app achieved a remarkable 4.7 rating, with over 38,000 reviews, 83% of which were five-star. This success was driven by a customer-focused approach, incorporating feedback and regulatory requirements and an agile methodology that enabled five releases since June 2023, keeping pace with fully digital banks. Consistently ranking among the top two in the industry, the App exemplifies our commitment to enhancing customer experiences.

Digital Customer Acquisition

Askari Bank has redefined its approach to customer acquisition through strategic engagement and data- driven initiatives. The Bank achieved a historic year-on- year (YoY) customer acquisition milestone of 179,010 registrations in 2024, compared to 127,486 in 2023. The customer portfolio expanded to 725,000 with 80% active users and 68% 30-day active users, setting new industry benchmarks. Notably, 56% of new-to-bank (NTB) registrations in 2024 were under 32 years old, while customers under 32 accounted for 45% of the digital base. Transaction volumes and values also grew by 45% and 37%, respectively, compared to 2023, underscoring the success of our strategic focus on digital growth.

Housing Society Digitization: A National Transformational Asset

Askari Bank has undertaken Pakistan's first-ever Housing Society Digitization Project, redefining the concept of digitally connected, cashless communities. This project is poised to create a replicable model for urban and residential communities, driving national digital transformation and establishing the Bank as a leader in lifestyle banking.

Askari - Digital Innovation Lab

Askari Bank has evolved into a state-of-the-art Digital Innovation Lab, setting new standards for innovation in the banking industry. Since its inception, the lab has grown into a Technology Development Lab and CoWorking Space, equipped with cutting-edge tools and resources. This initiative underscores Askari Bank's commitment to fostering a culture of innovation and collaboration.

Data-Driven Approach

Askari Bank has embraced a data-driven culture to accelerate its digital transformation. The Bank developed its first-ever Data Strategy in 2023, which was later incorporated into the 2024-2026 digital strategy. Predictive machine learning models were created to enhance customer insights, while interactive analytics dashboards for Mobile Application, ATMs and Transaction Banking were launched. These dashboards provide detailed information and trends with daily insights, empowering the Bank to make data-driven decisions and improve operational efficiency.

Generative Artificial Intelligence & Virtual Reality

Askari Bank is at the forefront of leveraging advanced technologies to redefine customer and employee experiences. The Bank is developing an LLM-based Conversational AI Bot with text-to-speech and speech- to-text capabilities, designed to handle general banking queries. Additionally, in-house AI-driven solutions have been developed for HR, operations and retail, digitizing legacy manuals and streamlining data flows. The Bank also piloted immersive virtual reality branch experiences and digital on-boarding for employees, showcasing its commitment to innovation.

Digital Branch Transformation

Askari Bank is reimagining branch banking with seamless, digitally-enabled experiences. Since launching the first Digital Branch in 2023, the Bank prepared six new digital lobbies in 2024 which are expected to go-live in 2025. A seamless account on-boarding process was also introduced through the Mobile App and web interface, enhancing customer convenience and satisfaction.

Transaction Banking Excellence

Askari Bank's digital platforms have become synonymous with efficiency and reliability, achieving record-breaking transaction throughput. In 2024, the Bank surpassed the cumulative throughput of Rs. 1 trillion for last three years from year 2021-2023. Throughput for year 2024 marked Rs. 1.1 trillion with improved collection percentage. Additionally, APIs for real-time transaction monitoring were introduced for corporate clients, further solidifying the Bank's leadership in transaction banking.

WhatsApp Banking

Askari Bank's WhatsApp Banking has emerged as a key customer engagement tool, with exponential growth in user registrations - service grew to nearly 100,000 by year end, adding nearly 80,000 users during the year. This achievement highlights the Bank's ability to expand customer touch points and enhance digital engagement.

ATM Performance and Operational Excellence

Askari's Digital Banking achieved notable improvements in ATM performance, reflecting the bank's ongoing commitment to operational excellence and customer satisfaction. With a total of 789 ATMs, ATM uptime for the year reached 96.41%, ensuring enhanced accessibility

for customers. Additionally, the cash uptime maintained a remarkable 99.64%, highlighting the bank's efficiency in ensuring continuous availability of cash and seamless customer service. These achievements underscore Askari Bank's dedication to maintain a reliable and efficient ATM network to meet the evolving needs of its customers.

Contact Center

The Bank's Contact Center serves as a centralized hub for customers, delivering real-time information about products and services via phone, email, social media, and a WhatsApp chatbot. This setup enables customers to access efficient self-service banking options and agent support 24/7.

Consumer Banking

Consumer banking provides range of financing solutions to cater and meet the Bank's customers' personal financing need through innovative products and offerings. The Bank keeps in mind customers' needs at every stage of life. To enrich customer experience, the Bank continuously seek new alliances to provide rich offerings and discounts.

Ask4Car

Askari Ask4Car is an auto financing product for new

• used vehicles. It offers competitive floating / fixed mark-up, flexible repayment plan and quick processing without any hidden charges. The product is offered to the customers (including Women Centric product) for a maximum tenor of 5 years.

Personal Finance

With unmatched financing features in terms of loan amount, payback period and easy monthly installments, Askari Bank's Personal Finance makes sure that the Bank's customers get the most out of their loans. The product tenor ranges from 1 - 4 years and is designed for salaried individuals and businessmen.

Advance Salary

Askari Bank also offers Advance Salary. It is an instant Personal Loan for short term period without hassle of any formal approval process and disbursement of loan within minutes. This facility is available 24/7 through Askari Internet Banking and Mobile App and can be availed by the employees of approved companies having payroll disbursement arrangement with Askari Bank.

Mortgage Finance

Askari Bank Mortgage Finance offers competitive rates and flexible terms, making it easy for customers to achieve their home ownership goals. Whether the Bank's customers are purchasing, building or renovating, the Bank's personalized solutions and expert guidance ensure a transparent and efficient process. This premium housing Finance Product is offered to customers for a period up to 25 years.