ECAP says rising US dollar rate in open market swaying people towards hawala and hundi
Karachi: Exchange Companies Association of Pakistan (ECAP) reported a disparity between the dollar rate on Wednesday which was Rs107.30-60 in open market...
NBP in financial doldrums, as it assesses impact of Rs47.8b penalty by Supreme Court
Islamabad: National Bank could be in danger of a financial meltdown as its equity will get eroded by 1/4th said its President...
The cluelessness of Standard Chartered’s Pakistan strategy
Stand outside the branch of Standard Chartered Bank Pakistan on Karachi’s historic McLeod Road, and it is difficult to escape a sense...
Citibank pondering establishing cash equities business in China
London: Citigroup Inc is considering setting up an onshore cash equities business in China and expanding research coverage of Chinese stocks, to...
NBP’s China branch opening faces delays as capital shortage looms
Islamabad: Following HBL’s lead, National Bank of Pakistan’s (NBP) recent indictment by the Supreme Court over a pensions related case has left...
HBL says misidentification of individuals led to fine by US regulators
Islamabad: In a bizarre saga regarding imposition of $225m penalty on Habib Bank by a US regulator, a senior official from the...
FIA registers fraud case of Rs55mn against 7 employees of private bank
DASKA:Â Federal Investigation Agency (FIA) has registered a Rs55 million fraud and embezzlement case against as many seven accused officials of a private...
SBP keeps policy rates unchanged at 5.75%
KARACHI: The State Bank of Pakistan (SBP) on Friday decided to keep the policy rate unchanged at 5.75 per cent following the...
Commercial banks foreign currency deposits rise in anticipation of rupee devaluation
KARACHI: An increase of US$1.2billion has been reported in foreign currency deposits of commercial banks in a period of last four months....
Citibank looks to bolster revenue growth from China’s OBOR initiative
Beijing: Citigroup Inc expects to boost its revenue growth in China by tapping into opportunities presented by Beijing’s Belt & Road initiative,...
Alibaba’s acquisition of Telenor Bank could alter dynamics of e-commerce in Pakistan
Islamabad: Apropos to a report by Profit on Tuesday, sources in State Bank of Pakistan have confirmed that it had received a...
Bank Alfalah bags ‘Best Bank Award’ at low-key 2nd PBA
Banking industry playing role in job opportunities, strengthening economy: Tariq Bajwa
KARACHI
At the second Pakistan Banking Awards (PBA) Tuesday, the prestigious ‘Best Bank Award’...
Moody’s affirms Habib Bank’s B3 local-currency deposit rating; downgrades its baseline credit assessment to caa1
Limmasol: Moody's Investors Service on Monday affirmed Habib Bank Ltd. (HBL)'s B3/Not-Prime local currency deposit ratings and its Caa1/Not-Prime foreign currency deposit...
SBP to hold an inquiry into closing of HBL NY branch
Islamabad: The State Bank of Pakistan (SBP) will hold an inquiry into the closure of Habib Bank Limited’s (HBL) branch in New York...
Bank Islami rubbishes claims of receiving financial assistance from SBP
KARACHI
Bank Islami Pakistan Limited (BIPL) clarified in a statement filed in the stock exchange that it did not receive any financial assistance...