Standard Chartered Bank’s profits plummet Rs1.5b for Q3
KARACHI: Standard Chartered Bank (Pakistan) Limited on Thursday posted its profit before tax of Rs 10.6 billion in first nine months of...
MCB announces demerger of 90 branches, amalgamation into MIB
LAHORE: In a notification sent to the bourse on Wednesday, Muslim Commercial Bank (MCB) announced the demerger of ninety of its branches...
HBL announces retirement of Dar as CEO, other appointments
Current CFO will assume responsibilities as acting CEO until a new appointment is confirmedÂ
HBL board establishes post of chief operating...
“Profit per branch” Ranking of banks in Pakistan – Year 2016
Notwithstanding the relative size and nature of operations, the profit per branch among Pakistani Banks depicts a peculiar picture.
Citi Bank Pakistan tops...
Mobile commerce, a driving force behind banking, says: Chairman PTA
ISLAMABAD: Chairman, Pakistan Telecommunication Authority Dr. Syed Ismail Shah has said that mobile commerce has become a driving force in banking sector...
Post-penalty HBL reports hefty loss of Rs14.122 billion for July-September quarter 2017
KARACHI: In a notification sent to the bourse on Friday, Habib Bank Limited announced its quarterly earnings for July-September of financial year...
Islamic Development Bank to use blockchain for development of Sharia-compliant products
RIYADH: The research arm of the Islamic Development Bank plans to use blockchain technology to develop sharia-compliant products, aiming to support...
Sliding forex reserves: Pakistan obtains $450m loan from Credit Suisse
ISLAMABAD: To support dwindling foreign exchange reserves, Pakistan has borrowed $450m on a short-term facility from a Credit Suisse led consortium of...
WB capitulates and revises Pakistan external financing needs to $17b
Islamabad: World Bank on Monday capitulated and admitted to its negligence of overestimating Pakistan’s external financing needs for current financial year 2017-18.
This...
Pakistan criticizes World Bank for overestimating repayment obligations
Islamabad: Pakistan criticized the World Bank for overestimating its external repayment obligations by $13b, which actually stands at $18b, the Finance Ministry said...
Banks lend Rs 7000 crores in consumer loans in FY 17
KARACHI: Lower interest rates have led to consumer loans picking up pace, with banks recording disbursements of over Rs 70 billion (Rs...
Summit Bank, Sindh Bank merger finalised
KARACHI: In a notification sent to the bourse by Summit Bank Limited on Friday, it has been notified subject to approval by...
Currency circulation rose despite imposition of WHT on banking transactions, says: SBP
Karachi: The enforcement of withholding tax on banking transactions hasn’t prevented the cash economy from flourishing, said State Bank of Pakistan in...
SBP forex reserves decline 0.50pc to touch $13,787.9m
Karachi: Decline in foreign exchange reserves continued for the fourth consecutive week as reserves held by State Bank of Pakistan (SBP) touched...
SBP directs money changers to ensure 1pc reduction in open-market rate of dollar
Karachi: State Bank of Pakistan on Thursday held a meeting at its headquarters with money changers and directed them bring to reduce...