In July 2023, HBL announced the creation of HBL Zarai, a new company aimed at improving agricultural output for small and medium-sized farmers. This move, highlighted in their 2022-23 sustainability report, received special permission from the State Bank of Pakistan (SBP), marking a significant shift from the SBP's traditionally conservative approach. It was the first time the SBP approved a fully owned subsidiary by a bank for a non-financial business. HBL's agricultural loan portfolio reached a record high of Rs 50.6 billion in 2022, reflecting a strategic emphasis on understanding and supporting the agricultural sector more effectively. Muhammad Aurangzeb, President of HBL, emphasised the bank's commitment to agriculture and encouraged other institutions to follow suit, acknowledging past oversights in areas like dairy and livestock farming. This initiative represents a strategic pivot since HBL's privatisation in 2004 and highlights its role in fostering sustainable growth and supporting communities through agricultural finance.