KARACHI: MCB Bank Limited, one of Pakistan’s largest commercial banks, has reported a profit-after-tax (PAT) of Rs63.47 billion for 2024, reflecting a 3% decline compared to Rs65.27 billion recorded in 2023. In its consolidated statement released to the Pakistan Stock Exchange (PSX) on Thursday, the bank reported earnings per share (EPS) of Rs53.35 for the […]
Karachi, Pakistan – Allied Bank Limited (PSX: ABL) has reported a profit-after-tax (PAT) of Rs. 44.4 billion for the calendar year 2024, marking a 7 percent year-on-year (YoY) increase. The bank has declared a final dividend of Rs. 4 per share (40 percent), in addition to the interim dividend(s) already paid at Rs. 12 per […]
Karachi – Egyptian fintech Halan Microfinance Bank has officially entered the Pakistani market by acquiring Advance Microfinance Bank. The company aims to invest $10 million while building a $500 million loan portfolio over the next five years. Halan is set to launch a digital banking app this year and plans to expand its physical presence […]
KARACHI: February, 2025 – United Bank Limited (UBL) has made history by becoming the first Pakistani bank to exceed Rs500 billion in market capitalization, following an impressive 125.32% surge in its stock value over the past year. On Friday, UBL’s stock closed at Rs410.21 on the Pakistan Stock Exchange (PSX), marking a 4.74% increase. The […]
Bank Alfalah saw its consolidated profit jump to Rs39.9 billion during 2024, which is over 10% higher than its earnings in 2023. The increase in profit-after-tax (PAT) is attributed to much higher non-markup income amid a jump in commission income and massive gains on securities. As per the financial statements shared with the Pakistan Stock […]
KARACHI: In a major legal and financial breakthrough, Bank Makramah Limited (BML) has secured court approval for a settlement application, paving the way for the recovery of approximately Rs10 billion in non-performing loans (NPLs) from the Omni Group and its affiliated entities. The listed bank announced the development in a notice to the Pakistan Stock […]
Islamabad, Pakistan – HBL Microfinance Bank (HBL MfB) has announced the appointment of Maya Inayat Ismail as the new Chairperson of its Board of Directors, succeeding Rayomond H. Kotwal. Maya Inayat Ismail played a key role in the establishment of HBL MfB’s predecessor organization, the First MicroFinance Bank (FMFB), Pakistan’s first microfinance institution. She has […]
Karachi – Pakistan, 17-01-2025 – In a landmark development for the financial services sector, ABHI & TPL have officially completed the acquisition of FINCA Microfinance Bank Limited. The final signing ceremony took place in the presence of prominent leaders from both organisations and key stakeholders, including Omair Ansari, CEO of ABHI, Ali Jameel, CEO of TPL Corp Limited, and Jeffery Smith, Vice President […]
Karachi, January 28, 2025 – Telenor Microfinance Bank has officially transitioned into a “Digital Retail Bank,” rebranding itself as Easypaisa Bank Limited (formerly Telenor Microfinance Bank Limited). The bank will now operate under the Banking Companies Ordinance (BCO), 1962, and will adopt the brand name easypaisa digital bank, effective immediately. The company made the announcement […]
KARACHI, January 27, 2025: The State Bank of Pakistan (SBP) has announced a 100 basis points reduction in the policy rate, bringing it down to 12%, effective January 28, 2025. The decision was unveiled by SBP Governor Jameel Ahmed during a press conference following the Monetary Policy Committee (MPC) meeting. This marks the sixth consecutive […]