Which Was The First Bank To Introduce Auto-financing In Pakistan?

As far as the trends of the outset of this very consumer financing option goes, auto financing in Pakistan found its origin in the late 1980's. It was commenced by Orix Leasing Pakistan Limited, a Japanese leasing company that deals in a diverse assortment of products and services, inclusive of consumer financing, working capital financing, factoring etc. It started with the option of leasing cars and later on entered the area of car financing.

In the banking sector, Citibank become the first bank in Pakistan to offer an auto financing product in 1994. Later on, many other banks followed suit and incorporated the element of car financing in their respective assortments of consumer financing products. These included international banks like Standard Chartered as well as local banks like Habib Bank and United Bank Limited

Today out of 33 public and private banks, 13 banks are offering an auto financing product, elucidating the growing preeminence of this particular sector.

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