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 […]
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 […]