KARACHI – Faysal Bank Limited (FBL) has officially announced the termination of discussions regarding the potential acquisition of Ithmaar Holding B.S.C.’s financing and investment portfolio. In a notice submitted to the Pakistan Stock Exchange (PSX) on Wednesday, Faysal Bank confirmed that Ithmaar Holding, the sponsor shareholder of FBL, along with GFH Financial Group B.S.C., have […]
KARACHI – April 17, 2025 — Soneri Bank Limited announced its financial results for the quarter ended March 31, 2025, following the approval of its condensed interim financial statements by the Board of Directors at its 210th meeting held in Karachi. The Bank reported a Profit Before Tax (PBT) of Rs 3.34 billion and Profit […]
Karachi, April 16, 2025 — United Bank Limited (UBL) has announced its financial results for the first quarter of 2025, posting an all-time high quarterly profit of Rs. 36 billion, translating into an earnings per share (EPS) of Rs. 28.9. This marks a 126% year-on-year (YoY) and 39% quarter-on-quarter (QoQ) surge in profitability, significantly outpacing […]
Despite policy rate volatility and economic challenges, Pakistan’s banking sector concluded 2024 with impressive profitability and asset growth. Overall bank profits crossed Rs. 600 billion, while tax contributions exceeded Rs. 650 billion, reflecting the sector’s robust fiscal impact. Throughout the year, higher deposit rates attracted extraordinary inflows of funds, albeit triggering increased tax liabilities due […]
Karachi, Pakistan — In a major development for Pakistan’s financial sector, Bank Alfalah, one of the country’s leading commercial banks, has announced a strategic collaboration with Swift to introduce Payment Pre-validation, a groundbreaking solution aimed at improving the speed, accuracy, and security of cross-border payments. Through this partnership, Bank Alfalah—via the national payment switch 1LINK—will enable […]
KARACHI – Hatton National Bank (HNB) of Sri Lanka has officially withdrawn from its proposed acquisition of Bank Alfalah’s operations in Bangladesh, according to a notification shared by Bank Alfalah Limited (BAFL) with the Pakistan Stock Exchange (PSX). HNB had initially submitted a non-binding offer last year to acquire the Bangladesh-based operations of BAFL. The […]
KARACHI: United Bank Limited (PSX: UBL) has witnessed a remarkable surge in market capitalization, reaching a record Rs. 600 billion (approximately US$ 2.1 billion), up from just Rs. 100 billion two years ago. The milestone was highlighted by Topline Securities CEO Mohammed Sohail, who noted that UBL has now surpassed the combined market value of two […]
Karachi, Pakistan – Bank Alfalah, one of Pakistan’s leading commercial banks, has launched AlfaMall on WhatsApp, offering a seamless shopping experience within the popular messaging platform. This innovative integration marks a significant step forward in digital banking and e-commerce, catering to the growing demand for mobile-first, hassle-free transactions. A New Era of Shopping Convenience With the […]
Karachi, Pakistan – March 26, 2025: In a pioneering move for Pakistan’s banking industry, BankIslami has launched the country’s first cheque encashment service via Cash & Cheque Deposit Machines (CCDMs), powered by TouchPoint’s advanced digital platform, QMatch. This solution allows customers to encash their cheques instantly, eliminating the need for branch visits, reducing waiting time, […]
Karachi, Pakistan – United Bank Limited (PSX: UBL) has successfully credited new shares to the respective Central Depository Company (CDC) accounts of former Silk Bank Limited (PSX: SBL) shareholders. This follows the sanctioned amalgamation of Silk Bank into UBL, effective from the beginning of business on March 11, 2025. The merger was approved by the […]