Standard Chartered Pakistan delivers a record operating profit.


  • Profit before tax of PKR 63.0 billion, up 73 per cent year on year
  • Highest ever revenue of PKR 76.9 billion, growth of 70 per cent year on year
  • Total assets crossed PKR 1.0 trillion milestone, up by 8 per cent from start of the year
  • Strong growth in current accounts of PKR 68 billion; up by 21 per cent from start of the year
  • Prudent risk approach resulting in a benign charge of PKR 615 million for the period


Standard Chartered Bank Pakistan delivered a record profit before tax of PKR 63.0 billion for the nine months period ended 30 September 2023, registering an increase of 73 per cent year on year. Profit after tax grew by 121% year on year to PKR 31.4 billion during nine months of the year. The performance was driven by strong income growth, as well as continued cost and risk discipline.

Overall revenue for the Bank grew by 70 per cent to deliver a top-line of PKR 76.9 billion, with positive contribution from all segments. The Net Interest Income for Standard Chartered witnessed a strong growth of 131% year on year, driven by proactive balance sheet management, pricing discipline and higher interest rates. Operating expenses increased 27 per cent from comparative period, in line with inflation. Moreover, lower impairments as a result of prudent risk approach coupled with recoveries of bad debts led to a benign charge of PKR 615 million for the period.

With a diversified product base, the Bank stands well positioned to cater to the needs of its clients. On the liabilities side, the Bank’s total deposits stand at PKR 725 billion. Current accounts registered strong growth of PKR 68 billion (up 21 per cent) from start of the year. On assets side, net advances registered a growth of PKR 18 billion (up 9 per cent) since the start of this year.

With a strong Return on Equity (ROE) of 46.3% for the period and a Capital Adequacy Ratio (CAR) of 20.4%, the Bank remains well positioned for future growth. On the back of a strong performance, the Board of Directors were pleased to announce an interim cash dividend of 25.0% (PKR 2.50/- per share) in respect of the nine months period ended September 30, 2023. This is in addition to 40.0% (PKR 4.00/- per share) interim cash dividend announced during half year ended June 30, 2023.

Mr. Rehan Shaikh, Chief Executive Officer, Standard Chartered Bank Pakistan, said, “I am pleased to share our 3rd quarter results reflecting our resilience, strong foundations, continued transformation and enhanced headway towards achieving our strategic priorities. The results also underpin our commitment to the country and our desire to gain opportunities in the market whilst supporting our clients by providing deep expertise to help meet their ambitions. Our focus remains on leveraging our network to facilitate our clients in the various trade corridors as well as building momentum in Sovereign, Multinational and Local Corporates space. Within consumer banking, we are deepening the opportunity in the Affluent segment while digitising our mass proposition.

We continue to become more efficient and innovative operationally while investing in technologies and capabilities of the future. Adoption of new ways of working has been delivering concrete outcomes in terms of productivity, staff wellbeing and our approach to do business. I am thankful to our clients and business partners for their ongoing trust in our abilities and to our associates and colleagues for their commitment, passion and hard work in supporting the Bank in its journey. The external environment remains challenging; however, we remain fully committed to delivering a sustainable growth for our shareholders, bringing the best-in-class services and solutions for our clients and playing our part in the growth story of Pakistan”

Standard Chartered continues to make good progress against its strategic priorities. The global network differentiates the Bank for its clients, bringing forth innovative solutions, product specialisation and structured offshore offerings. In line with the State Bank’s efforts on financial inclusion, with enhanced digital offering, Standard Chartered is now able to reach more clients across the country and provide them with convenience of opening accounts as well as subscribing to products and banking services online. Overall, the Bank’s transformation journey stands well-curated, closely aligned with the Pakistan’s landscape and helping lift participation through digitisation. Sustainable finance along with digital solutions for clients and their ecosystem stay as areas of keen focus for Standard Chartered. The Bank continues efforts under ‘Futuremakers by Standard Chartered’ initiative to tackle inequality and promote greater economic inclusion for young people in the community.


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