Pakistan's Homegrown Banks Grow Up

Overseas institutions suddenly face growing competition from local rivals, and many are quitting the country or partnering up

With their luxurious offices and fat salaries, foreign bankers have long been the envy of the rest of Pakistan's financial sector. They lapped up the corporate business while customers lined up to deposit their dollars in lucrative foreign-currency accounts. Plus, foreign banks enjoyed a reputation as bastions of quality service.

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