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 […]
Karachi, August 8, 2024 — Meezan Bank Limited (PSX: MEBL) has reported its highest-ever quarterly earnings, recording a profit of Rs. 26.7 billion for the second quarter of the calendar year 2024 (2QCY24). This marks a significant 55% year-on-year (YoY) increase and a 5% rise quarter-on-quarter (QoQ). The result underscores the bank’s robust financial performance […]
Karachi, August 07, 2024 – The State Bank of Pakistan (SBP) has merged its two subsidiaries, the National Institute of Banking and Finance (NIBAF) and the Institute of Bankers Pakistan (IBP), to form NIBAF Pakistan. This strategic move aims to strengthen the preparation of human resources for the banking and financial sectors. SBP Governor Jameel […]
Karachi, July 31, 2024 — United Bank Limited (UBL), one of Pakistan’s leading commercial banks, has reported consolidated earnings of Rs15.27 billion for the quarter ending June 30, 2024, marking a significant 17% increase from Rs13.05 billion in the same period last year. The bank’s earnings per share (EPS) rose to Rs12.10, up from Rs10.39 […]
Islamabad – Federal Minister for Finance Muhammad Aurangzeb visited the Pakistan Banks’ Association (PBA) for a meeting with the Presidents and CEOs of leading banks. The focus of the discussion was on the banking sector’s role in promoting growth in agriculture, small and medium enterprises (SMEs), and the digital and technology sectors in Pakistan. During […]
KARACHI, July 30, 2024 – In a decisive move to stimulate economic activity, the State Bank of Pakistan (SBP) announced a reduction in its key policy rate by 100 basis points, bringing it down to 19.5 percent. The decision, effective from July 30, 2024, was revealed by SBP Governor Jameel Ahmed following a meeting of […]
In a significant step towards revolutionizing customer verification and onboarding processes, Askari Bank and truID Technologies have announced a strategic partnership. The collaboration, celebrated at a signing ceremony held at the National Science and Technology Park (NSTP) at the National University of Sciences and Technology (NUST), aims to enhance customer interactions and security through the […]