Iran merging military-linked banks to stabilise sector

DUBAI: Iran is merging four military-linked banks and another financial institution with the country’s oldest bank to boost efficiency and help stabilize the sector, the...

SBP reserves dip 0.08pc, stand at 8.04bn

The foreign exchange reserves held by the State Bank of Pakistan decreased 0.08pc ($6 million) on February 22, according to the data released by...

Registered Afghans can open bank accounts in Pakistan: SBP

Afghan refugees holding a valid Proof of Registration (PoR) card are allowed to open bank accounts in Pakistan, said the State Bank of Pakistan...

Standard Chartered posts highest-ever profit of Rs18.5bn

KARACHI: Standard Chartered Bank (Pakistan) Limited on Wednesday announced its annual results for 2018.The bank performed exceptionally well in the year and delivered a profit...

ADB appoints Ahmed M Saeed as vice president

The Asian Development Bank (ADB) has appointed Ahmed M Saeed as Vice-President. Saeed will be responsible for operations in the Southeast Asia Department, the...

14 banks to remain open this weekend to facilitate Hajj applicants

In order to facilitate the aspiring pilgrims in depositing Hajj applications, the State Bank of Pakistan (SBP) has directed 14 designated banks to open...

Bank Alfalah records over Rs10bn profit in 2018

The Board of Directors of Bank Alfalah in their meeting held in Abu Dhabi on 21st February 2019, approved the Bank’s audited financial statements...

NBP posts highest-ever revenue of Rs97bn

KARACHI: The meeting of the Board of Directors (BoD) of National Bank of Pakistan (NBP) was held on Friday at the bank’s head office in...

SBP rebuffs statements attributed to Governor Bajwa, terms them ‘misleading’

ISLAMABAD: The State Bank of Pakistan has rebuffed a news report entitled 'Pakistan has come out of financial crisis: SBP governor' published on Feb 19th...

FATF terms Pakistan’s progress ‘limited’, calls for swift completion of action plan

It directed Pakistan to demonstrate that remedial actions and sanctions be applied in cases of AML/CFT violations and that these actions have an effect on AML/CFT compliance by financial institutions

Bank Alfalah posts earnings of Rs11 billion for CY18, registering 28% growth YoY

Bank Alfalah announced a dividend of Rs1.5 per share for the quarter taking a total payout for the year to Rs2.5 per share

MCB reports Rs21.36bn profit after tax

LAHORE: The Board of Directors of MCB Bank Limited met under the Chairmanship of Mian Mohammad Mansha on Wednesday to review the performance of the...

In sharp U-turn, monetary policy easing back in play across Asia

A softer dollar and lower oil prices played an important role in the turnaround. But crucially for Asia, regional growth engine China is having a worse than expected start to the year and is exporting disinflation to the rest of the region

SME financing by banking industry reaches historic level of Rs500bn

Growth in SME financing was more prominent in the last six months of 2018, wherein it registered an increase of 25pcISLAMABAD: Small and...

Pakistan has steered itself out of financial crisis: SBP governor

Mr Bajwa said a plan had been formulated to banish the current account deficit and work in this regard was in progress

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