SBP reserves increased by US$ 18 million
The total liquid foreign reserves held by the country stood at US$ 16,017.1 million as of 18-Oct-2024. The break-up of the foreign reserves position is as follows: Foreign reserves held…
Standard Chartered Bank hosts 3rd Annual Global Shari’ah Majlis
The Global Shari’ah Majlis, a highly anticipated event in the Islamic finance industry, was held on Wednesday, 23 October 2024. Hosted as a hybrid event, this prestigious gathering brought together…
MCB Bank reports record PBT of PKR 95.1bn for 9M 2024
MCB Bank Limited (MCB) has announced its financial results for the nine-month period ended September 30, 2024, reflecting a strong performance across all key areas. The Board of Directors of…
United Bank recorded highest ever quarterly earnings in 3Q2024
United Bank (UBL) announced its 3Q2024 result today. The bank recorded its highest-ever quarterly earnings of Rs18.3bn (EPS of Rs14.96), up 24% year over year and quarter over quarter. The…
Meezan Bank experienced a 34% increase in profit after tax (PAT) in 9MCY24.
The Board of Directors of Meezan Bank approved the bank's financial statements for the nine-month period ending September 30, 2024. Mr. Riyadh S. A. A. Edrees, Chairman of the Board,…
Pak-Qatar Group and IFMP to enhance Islamic Financial Expertise
Pak-Qatar Group (PQG), Pakistan's premier and pioneer Islamic financial services group, has signed a Memorandum of Understanding (MoU) with the Institute of Financial Markets of Pakistan (IFMP). This collaboration aims…
Mobilink Bank tops the SBP’s Banking on Equality scorecard for the second year in a row
Mobilink Bank has once again demonstrated its unwavering commitment to gender equality and financial inclusion, securing a remarkable score of 82.7 on the State Bank of Pakistan's (SBP) Women Friendliness…
NBP stands strong for Breast Cancer Awareness in PINKtober
The National Bank of Pakistan (NBP) reinforced its commitment to inclusivity and social responsibility by hosting a special Pinktober event at its head office in Karachi, dedicated to raising awareness…
Pakistan saw a CA surplus of US$119mn in September 2024
Pakistan’s current account (CA) balance in September 2024 was a second consecutive surplus of US$119mn, up from US$29mn in August 2024. The sequential improvement came mainly from a decline in…
MEBL has posted 3QCY24 consolidated NPAT of PKR26.2bn
3QCY24 Review: Higher effective tax rate masks strong core revenues MEBL has posted 3QCY24 consolidated NPAT of PKR26.2bn (EPS: PKR14.58), flat YoY and QoQ. The result is…
BankIslami promoting its riba-free banking services in Pakistan
BankIslami, one of Pakistan's leading Islamic financial institutions, has launched a pivotal initiative by promoting its riba-free banking services, which are accessible to people of diverse backgrounds and faiths. The…
Standard Chartered awarded Gatronova’s cash management and supplier financing mandate
Standard Chartered Pakistan and Gatronova signed a Memorandum of Understanding at the Gatronova Head Office. Standard Chartered was awarded Gatronova’s cash management & supplier financing mandate through this agreement. This…
Bank Alfalah reports 23.5% growth in profit during 9MCY24
The Board of Directors of Bank Alfalah Limited, in its meeting held on October 17, 2024, approved the Bank’s financial results for the nine months ended September 30, 2024. Bank Alfalah…
Bank Alfalah and Allied Bank inaugurate the Mohalla Cricket Tournament
Bank Alfalah and Allied Bank are proud to announce the launch of Mohalla Cricket, a nationwide tournament designed to foster community engagement and raise awareness for legal remittance channels in…
Fatima Fertilizer Company and ZTBL join hands to provide financial access for smallholder farmers
Fatima Fertilizer Company Limited and Zarai Taraqiati Bank Limited (ZTBL) have entered into a groundbreaking partnership to promote financial inclusion and support for smallholder farmers in Pakistan. This collaboration aims…
HBL today declared a consolidated PBT of Rs 85.9 billion for the 9MCY24
Today, HBL declared a consolidated profit before tax of Rs 85.9 billion for the first nine months of 2024, which is 3% higher than in the same period last year.…
PQAMC announces a dividend of PKR 1.1508 per unit for its monthly income plan
Pak-Qatar Asset Management Company Limited (PQAMC) is a leading dedicated Islamic Asset Management Company in Pakistan, and part of Pak-Qatar Group, which is Pakistan’s Pioneer and Premier Islamic financial services…
Jubilee Life Insurance will sponsor Pakistan Insurtech Summits
Jubilee Life Insurance, Pakistan’s largest private insurer, recently signed an MOU with the Pakistan Fintech Network (PFN) to sponsor the upcoming Pakistan Insurtech Summits in 2024, 2025, and 2026. The…
JS Bank launches instant debit card service,
JS Bank, one of the fastest-growing banks in Pakistan, has launched a game-changing service that allows customers to walk out with an instant debit card when they open a bank…
Pakistan’s retail payments experienced remarkable growth in fiscal year 2024
The State Bank of Pakistan (SBP) has released its annual report highlighting the significant advancements in the national payment ecosystem during the Fiscal Year 2023-24. The report underscores the remarkable…
KCCI urges Central Bank to reduce the policy rate by at least 300 basis points
President of the Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani and Chairman of the Policy Research & Advisory Council (PRAC) Mohammad Younus Dagha have advised the Central…
BankIslami strengthens its national footprint with ‘500 Branches’ Milestone.
BankIslami Pakistan Limited, a leading financial institution, announces a significant milestone of strengthening its presence by opening its 500th branch in Nankana Sahib. This achievement reflects the bank’s unwavering commitment…
Standard Chartered’s market outlook event
Standard Chartered held a Market Outlook event, “Navigating Market Trends & Investment Opportunities” in Karachi. This was the third session in a series of market outlook events that the Bank…
Waqas Ahmad, CEO of Pak-Qatar Family Takaful becomes a member of the executive committee of the IAP
Pak-Qatar Family Takaful Limited (PQFTL), a leading provider of Family Takaful solutions and part of Pak-Qatar Group, is pleased to announce that its Chief Executive Officer, Mr. Waqas Ahmad, has…
Mobilink Bank received ‘Digital Nations Video Creativity Award
Pakistan’s leading digital microfinance bank, Mobilink Bank, has achieved a significant milestone on the global stage by winning the prestigious ‘Digital Nations Video Creativity Award’ at the high-profile M360 APAC…
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