February 20, 2025: In a major step towards enhancing international collaboration in Islamic finance, Meezan Bank, Pakistan’s leading Islamic bank, and the Participation Banks Association of Türkiye (TKBB) have signed a Memorandum of Understanding (MoU) to foster innovation, knowledge sharing, and capacity building in the sector. The MoU was exchanged during the official state visit […]
Karachi: HBL has announced a record profit before tax of Rs 120.3 billion for the year ended December 31, 2024, reflecting a 6% increase compared to 2023. The bank’s profit after tax stood at Rs 57.8 billion despite a substantial increase in the tax rate on banks to 54%. The earnings per share (EPS) for […]
Karachi – United Bank Limited (UBL), one of Pakistan’s largest commercial banks, has announced record-breaking consolidated earnings of Rs75.78 billion for the year ending December 31, 2024, marking a significant 34% increase from its profit-after-tax of Rs56.47 billion in 2023. The profit includes Rs74.84 billion from continued operations and Rs938.61 million from discontinued operations during 2024. […]
Karachi, Pakistan – Shareholders of Silkbank Limited (PSX: SILK) have approved the proposed amalgamation of the bank into United Bank Limited (PSX: UBL), pending regulatory approvals. The merger will proceed under Section 48 of the Banking Companies Ordinance, 1962, with final authorization required from the State Bank of Pakistan (SBP) and the Competition Commission of […]
Lahore, February 17, 2025 – The Board of Directors of The Bank of Punjab (BOP) convened on February 17, 2025, to review and approve the Annual Audited Financial Statements for the year ending December 31, 2024. Despite challenges such as the implementation of IFRS-9, debt restructuring of a major state-owned entity, a challenging interest rate […]
KARACHI: February 14, 2025 — The State Bank of Pakistan (SBP) has cleared the Fit & Proper Test (FPT) for Zia Ijaz to assume the role of President and Chief Executive Officer (CEO) of Askari Bank Limited (AKBL). The development was disclosed in a notice issued by AKBL to the Pakistan Stock Exchange (PSX) on […]
Karachi, February 13, 2025 – Meezan Bank Limited (MEBL) has announced its financial results for the calendar year 2024, reporting a record-breaking annual profit of Rs. 101.5 billion (Earnings Per Share: Rs. 56.5), reflecting a 20 percent year-on-year (YoY) increase. This milestone positions Meezan Bank as one of the most profitable banks in the sector, […]
Karachi: Allied Bank Limited (ABL) has demonstrated remarkable financial growth in 2024, with significant improvements in profitability, asset expansion, and customer-centric innovations. The bank successfully navigated challenging market conditions, reinforcing its industry leadership. Financial Performance Overview ABL reported a 5% increase in markup income, reaching Rs 376,760 million in 2024, compared to Rs 357,307 million […]
KARACHI: Soneri Bank Limited has announced its financial results for the year ended December 31, 2024, reflecting consistent growth despite economic challenges. The results were approved during the Bank’s 209th Board of Directors meeting held in Karachi and chaired by Amin A. Feerasta. The Bank reported a Profit Before Tax (PBT) of Rs 12.638 billion […]
Islamabad: The Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP) are jointly working on a significant initiative aimed at streamlining corporate banking operations through the Same-Day Account Opening plan. According to details, this initiative will enable companies to establish banking relationships swiftly, reducing delays in accessing essential financial services […]