KARACHI – Standard Chartered Bank Pakistan Limited (SCBPL) has announced a record-breaking performance for 2024, reporting a profit before tax of PKR 100.6 billion, reflecting a 13% year-on-year (YoY) growth. The Bank’s performance was driven by strong income growth of 9% YoY, with positive contributions from all business segments. Despite a high inflationary environment and […]
KARACHI: In a significant milestone for Pakistan’s financial sector, the State Bank of Pakistan (SBP) has awarded the first restricted license for pilot operations to Mashreq Bank Pakistan Limited (MBPL). The announcement was made during a special meeting attended by the SBP Governor, Deputy Governor, and senior executives, along with the Board and senior management […]
Pakistan, Karachi – 21 February 2025: HBL, Pakistan’s leading bank, has partnered with Ahya Technologies, a Pakistani company specializing in AI-powered climate software, to accelerate its journey towards net-zero emissions by 2030. This collaboration underscores HBL’s commitment to sustainability, in line with the Aga Khan Development Network (AKDN) goals. This partnership provides HBL access to […]
Karachi, Pakistan – Faysal Bank Limited (FBL) has continued its strong financial trajectory in 2024, demonstrating resilience and operational excellence in its second year as a full-fledged Islamic bank. The bank reported a Profit Before Tax (PBT) of PKR 50.4 billion, reflecting a 22% year-on-year increase compared to PKR 41.4 billion in the previous year. […]
Bank of Khyber (BoK) has formally initiated its transition into a full-fledged Islamic bank, the bank shared the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday. “The bank has initiated the process for conversion from conventional to Islamic bank,” BoK said. The development comes as Islamic banking in Pakistan has seen […]
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 […]