KARACHI – Pakistan’s first instant digital payment system, Raast, developed by the State Bank of Pakistan (SBP), has crossed a major milestone, processing over 892 million transactions with a total value exceeding Rs 20 trillion since its launch. The announcement came during the launch of the ‘Go Cashless’ campaign, inaugurated by Deputy Governor SBP Saleem […]
KARACHI – The State Bank of Pakistan (SBP) has officially granted a full commercial licence to Safepay, enabling the fintech to operate as a Payment Service Provider (PSP) across the country. This milestone follows an extensive period of evaluation and pilot operations, during which Safepay showcased its commitment to regulatory compliance, customer-centric services, and innovation […]
Karachi – April 19, 2025 – Samba Bank Limited (SBL) has reported a significant decline of 53% in its profit-after-tax (PAT) for the quarter ended March 31, 2025, compared to the same period last year, according to a notice submitted to the Pakistan Stock Exchange (PSX). The bank posted a PAT of Rs166.85 million in […]
ISLAMABAD: Burak Ozer, CFO of VEON Group—a global digital operator with a presence in six frontier markets—stated that their subsidiary Jazz has invested over $10.9 billion in Pakistan to strengthen the country’s digital ecosystem. This, he stated while addressing at Leaders In Islamabad Business Summit (LIIBS) 2025, themed Navigating the Unknown. He emphasised that VEON […]
Karachi, April 18, 2025 — Bank Alfalah Limited (BAFL) announced its financial results for the quarter ended March 31, 2025, reporting a profit after tax of PKR 7.040 billion. The earnings translate into an Earnings Per Share (EPS) of PKR 4.46. The bank’s Board of Directors, in a meeting held on April 17, 2025, also […]
ISLAMABAD, April 17: The Special Committee on Gender Mainstreaming has commended the State Bank of Pakistan (SBP) for its significant initiatives to promote women’s empowerment through the “Banking on Equality” policy, which aims to reduce the gender gap in financial inclusion. The committee, however, urged the central bank to introduce practical measures for easing account […]
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 […]
Digitt+ is pleased to announce a major milestone in Pakistan’s agricultural and financial sectors. AFT, in collaboration with Naymat Collateral Management Company, is launching the country’s first-ever Electronic Warehouse Receipt (EWR) for sugar, integrated with digital payments. This initiative will empower farmers with access to formal financing, allowing them to secure up to 70% of […]
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 […]