Moody’s Investors Service has upgraded the long-term deposit ratings of five leading Pakistani banks—Allied Bank Limited (ABL), Habib Bank Limited (HBL), MCB Bank Limited (MCB), National Bank of Pakistan (NBP), and United Bank Limited (UBL)—from Caa3 to Caa2. This rating action reflects the improved creditworthiness of Pakistan, following the recent upgrade of the country’s sovereign […]
Karachi, August 29, 2024—JS Bank, one of Pakistan’s fastest-growing financial institutions, has announced its financial results for the first half of 2024, showcasing a remarkable surge in profitability and solidifying its position as an emerging powerhouse in the banking sector. The bank reported a consolidated Profit Before Tax of Rs. 18.79 billion, reflecting an extraordinary […]
Karachi, August 22, 2024 — The Board of Directors of Telenor Microfinance Bank (TMB) has announced the Bank’s financial results for the half year ended June 30, 2024, revealing an extraordinary financial performance that underscores its leadership in Pakistan’s fintech sector. For the first half of 2024 (H1’24), TMB recorded a profit before tax of […]
Pakistan’s listed banks reported a cumulative profit of Rs. 137 billion in the second quarter of 2024, reflecting a 4% year-on-year (YoY) growth, according to a report by Topline Securities. Excluding the National Bank of Pakistan (NBP), profitability surged by 26% YoY, primarily fueled by an increase in Net Interest Income (NII) and Non-Interest Income. […]
Karachi, August 29, 2024 — Zindigi, powered by JS Bank, has launched “Zindigi Pay,” Pakistan’s most inclusive and accessible contactless payment solution. Setting a new standard in the digital payment landscape, Zindigi Pay stands out by allowing all digital wallets—not just Zindigi’s—to participate, making it the payment method of choice for both individuals and businesses […]
Karachi, August 29, 2024 – In a significant move set to transform the retail payment landscape, SnappRetail has announced a strategic partnership with PayFast to launch the groundbreaking Raast P2M (Person-to-Merchant) payment solution. This collaboration marks a major milestone in the drive toward innovation and digitalization in Pakistan’s retail sector. The partnership aims to simplify […]
In a landmark move set to transform the retail sector, Muawin has announced a strategic partnership with VIZPRO Pvt. Ltd. and Sigma Distributors Pvt. Ltd. This collaboration aims to introduce cutting-edge financing solutions tailored to the needs of retailers. By leveraging a fully digitized, data-driven supply chain, the alliance will provide retailers with seamless access […]
Lahore, August 28, 2024 — The Board of Directors of The Bank of Punjab (BOP) met today to review and approve the unaudited Financial Statements for the first half of the year ending June 30, 2024. The meeting highlighted a significant 80% increase in profit before tax, reflecting the bank’s robust performance and strategic business […]
Zindigi Prize powered by JS Bank, Pakistan’s largest entrepreneurship competition, marked another milestone with the resounding success of its KPK Regionals, co-hosted by the Ghulam Ishaq Khan Institute of Engineering Sciences and Technology (GIKI), the Directorate General of Science and Technology, and The Catalyst. The event, which spanned three days, was a vibrant celebration of […]
Karachi: Faysal Bank Limited (FBL), a leading Islamic bank in Pakistan, has announced its financial results for the first half of 2024, showcasing robust growth and solid financial performance. The Bank reported a Profit After Tax (PAT) of PKR 13.3 billion for the six months ended June 30, 2024, marking a remarkable 76.3% increase from […]