SBP slaps fine on three commercial banks

JS Bank fined Rs85.14m, HBL fined Rs29m and BoP fined Rs17.24m

Karachi: The State Bank of Pakistan (SBP) has imposed penalties on three commercial banks for the quarter ended June 2022. The penalties are for violations of the regulations set by the SBP. The three banks are JS Bank, HBL, and Bank of Punjab. 

JS Bank has been imposed a fine of Rs85.14 million on the violation of regulatory instructions regarding CDD/ KYC (Customer Due Diligence/ Know Your Customer), asset quality, FX (Foreign Exchange), and other general banking operations. 

HBL and Bank of Punjab were fined Rs29 million and Rs17.24 million respectively for violating CDD/ KYC regulatory instructions.

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Ariba Shahid
The author is a business journalist at Profit. She can be reached at [email protected] or at twitter.com/AribaShahid

3 COMMENTS

  1. Why not sbp impose penality on those banks who are not giving inflation allowance to its staff ..kindly take action on such banks .

  2. HBL has a poor track record . It has been fined several times to the detriment of the shareholders. How many officers have been fired post this fiasco or the earlier NY fiasco . Instead these Babas want to serve till 65. Trash Bank.

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