Karachi – Soneri Bank Limited has announced a strategic partnership with Dewan Farooque Motors Limited, aiming to offer tailored vehicle financing solutions to customers across Pakistan. This collaboration is set to pave the way for enhanced and accessible financing options, making it easier for customers to purchase their desired vehicles. Through this alliance, Soneri Bank […]
Moody’s Investors Service has upgraded the long-term deposit ratings of five leading Pakistani banks—Allied Bank Limited (ABL), Habib Bank Limited (HBL), MCB Bank Limited (MCB), National Bank of Pakistan (NBP), and United Bank Limited (UBL)—from Caa3 to Caa2. This rating action reflects the improved creditworthiness of Pakistan, following the recent upgrade of the country’s sovereign […]
Karachi, August 29, 2024—JS Bank, one of Pakistan’s fastest-growing financial institutions, has announced its financial results for the first half of 2024, showcasing a remarkable surge in profitability and solidifying its position as an emerging powerhouse in the banking sector. The bank reported a consolidated Profit Before Tax of Rs. 18.79 billion, reflecting an extraordinary […]
Pakistan’s listed banks reported a cumulative profit of Rs. 137 billion in the second quarter of 2024, reflecting a 4% year-on-year (YoY) growth, according to a report by Topline Securities. Excluding the National Bank of Pakistan (NBP), profitability surged by 26% YoY, primarily fueled by an increase in Net Interest Income (NII) and Non-Interest Income. […]
Lahore, August 28, 2024 — The Board of Directors of The Bank of Punjab (BOP) met today to review and approve the unaudited Financial Statements for the first half of the year ending June 30, 2024. The meeting highlighted a significant 80% increase in profit before tax, reflecting the bank’s robust performance and strategic business […]
Karachi: Faysal Bank Limited (FBL), a leading Islamic bank in Pakistan, has announced its financial results for the first half of 2024, showcasing robust growth and solid financial performance. The Bank reported a Profit After Tax (PAT) of PKR 13.3 billion for the six months ended June 30, 2024, marking a remarkable 76.3% increase from […]
BankIslami Pakistan continues to demonstrate robust growth, reporting a substantial 66.2% increase in profit before tax for the first half of 2024, amounting to Rs. 13.8 billion. The bank’s post-tax profit also surged by 32.1%, reaching Rs. 7.1 billion, highlighting its resilience and strategic focus amid challenging market conditions. One of the standout achievements during […]
Pakistan, Karachi – 26 August 2024: Habib Bank Limited (HBL) has announced robust financial results for the first half of 2024, reporting a consolidated profit before tax of Rs 57.8 billion, marking a 12% increase over the same period last year. The bank’s profit after tax rose by 10% year-on-year to Rs 29.1 billion, with […]
Islamabad: The State Bank of Pakistan (SBP) has announced plans to introduce a new series of currency notes, ranging from Rs 10 to Rs 5,000, by the end of December 2024. The announcement was made by SBP Governor Jameel Ahmed during a briefing to the Senate Standing Committee on Finance. Governor Ahmed informed the committee, […]
Karachi, — Allied Bank Limited (PSX: ABL) has reported its highest-ever quarterly profit after tax, posting earnings of Rs. 12.5 billion for the second quarter of the calendar year 2024 (2QCY24). This represents a 25 percent year-on-year (YoY) increase and a 7 percent quarter-on-quarter (QoQ) rise, according to data released today. The record earnings for […]