Trends - banking sector - Business Recorder

banking sector

Bank Alfalah reports Rs39.9bn profit in 2024

Bank Alfalah saw its consolidated profit jump to Rs39.9 billion during 2024, which is over 10% higher than its...

Updated 30 Jan, 2025 05:20pm

Credit to private sector hits Rs1.4trn mark

KARACHI: Credit to the private sector has surged significantly, reaching Rs 1.4 trillion mark during the current...

Updated 25 Jan, 2025 02:46pm

BR Research

Interview with Khurram Mumtaz, Head of NEO Mashreq Pakistan

‘Convenience is king, and we aim to redefine banking in Pakistan’ Khurram Mumtaz spearheads the expansion of Mashreq...

Published 10 Jan, 2025 07:40am

Editorials

Elite to be brought into the tax net

EDITORIAL: Federal Finance Minister Muhammad Aurangzeb while talking to the media persons during his meeting with...

Published 01 Jan, 2025 03:03am

Income Tax (amendment) Ordinance promulgated

FBR now expecting Rs 70 billion till December 31, 2024 from the banking sector which will help tax machinery reduce its shortfall in collection to some extent

Updated 31 Dec, 2024 04:52pm

Changes in banking sector’s ADR: Cabinet approves promulgation of tax ordinance

ISLAMABAD: The federal cabinet has granted approval to promulgation of an Income Tax Ordinance for bringing changes...

Updated 28 Dec, 2024 05:54pm

BR Research

Never mind ADR loans, private credit is back with a bang

That’s right. Over the past three months – Aug to Nov ‘24 – credit to private sector businesses has increased by...

Published 24 Dec, 2024 08:47am

DPF jumps 48pc to Rs148bn by FY24-end

KARACHI: In a significant milestone reflecting robust financial health, the Deposit Protection Fund (DPF), managed...

Updated 14 Dec, 2024 02:26pm

Markets

Aurangzeb says Pakistan economy’s issues have been addressed

In address at Islamic capital markets conference, finance minister says country committed towards raising infrastructure finance through Shariah-compliant bonds

Updated 12 Dec, 2024 10:35pm

Business & Finance

MCB Bank appoints Nauman Chughtai as President & CEO

The Board of Directors (BoD) of MCB Bank, one of Pakistan’s largest commercial banks, has appointed Muhammad Nauman...

Updated 11 Dec, 2024 10:58pm

Business & Finance

Banking sector’s ADR climbs to nearly 48% as of Nov 29

The banking sector’s gross Advance-to-Deposit Ratio (ADR) maintained its upward trajectory, hitting nearly 48% as of...

Updated 11 Dec, 2024 11:01pm

Banking sector: ADR-based tax system alternatives discussed

ISLAMABAD: A high-level meeting was held Tuesday under the chairmanship of Deputy Prime Minister/Foreign Minister...

Updated 11 Dec, 2024 09:25am

34 banks declared withholding agents

ISLAMABAD: The Federal Board of Revenue (FBR) has declared 34 banks as withholding agents for the purpose of...

Updated 11 Dec, 2024 09:11am

Business & Finance

One for 325: UBL board approves merger with Silkbank via share swap

United Bank Limited (UBL), one of Pakistan’s largest commercial banks, has approved the amalgamation of Silkbank...

Updated 03 Dec, 2024 05:10pm

Business & Finance

Bank Makramah’s board approves restructuring scheme

Net assets to increase by Rs29.39bn, says BML

Updated 28 Nov, 2024 05:27pm

Banks start scrapping monthly fee on large deposits

KARACHI: Banks have begun reversing their arbitrarily imposed five percent monthly charges on all accounts with...

Updated 27 Nov, 2024 09:35pm

Key requirement for conventional banks removed

Banks will now pay negotiated rates to corporate sector

Updated 27 Nov, 2024 04:00pm

BR Research

SME financing: ‘he’s just not that into you!’

Consider the following: an entry-level tech worker in Silicon Valley can get a higher spending limit on credit cards...

Published 25 Nov, 2024 09:02am

Business & Finance

BAFL operations in Bangladesh: central banks give green signal for due diligence facilitation

The central banks of Pakistan and Bangladesh have granted in-principle approval to Bank Alfalah Limited (BAFL) to...

Updated 15 Nov, 2024 04:42pm

Editorials

Investment versus deposit

EDITORIAL: Pakistan’s Advance to Deposit Ratio (ADR), defined as comparing banks total loans to total deposits...

Published 15 Nov, 2024 06:20am

Business & Finance

Bank Alfalah withdraws intention to acquire stake in Samba Bank as SNB halts divestment

Bank Alfalah Limited (BAFL), one of Pakistan’s largest commercial banks, has withdrawn its public announcement of...

Updated 14 Nov, 2024 10:59pm

Business & Finance

SBP approves TPL Corp, Abhi’s acquisition of FINCA Microfinance Bank

The State Bank of Pakistan (SBP) has given its final approval to TPL Corp Limited (TPL), a Pakistani financial...

Updated 12 Nov, 2024 06:16pm

Business & Finance

Saudi National Bank terminates plan to divest stake in Samba Pakistan

Saudi National Bank (SNB) has terminated the process for the sale of its equity stake in Samba Pakistan. The...

Updated 12 Nov, 2024 10:46pm

Business & Finance

Silkbank’s board grants in-principle approval for UBL merger

The Board of Directors (BoD) of Silkbank Limited have granted their in-principle approval for a potential merger...

Published 06 Nov, 2024 02:45pm

Business & Finance

UBL submits merger offer to Silkbank

Proposes share swap for amalgamation

Updated 01 Nov, 2024 11:01pm

BR Research

MCB banks on high CASA

MCB Bank Limited (MCB), true to its reputation and much to the shareholders’ delight, announced another interim...

Published 28 Oct, 2024 08:51am

Business & Finance

MCB Bank posts Rs18.1bn profit in 3Q2024, down 8% YoY

MCB Bank Limited, one of Pakistan’s largest commercial banks, reported a profit-after-tax (PAT) of Rs18.13 billion...

Updated 23 Oct, 2024 06:12pm

Business & Finance

Meezan Bank posts Rs26.4bn profit in 3QCY24

Meezan Bank, the country’s largest Islamic bank, posted consolidated earnings of Rs26.36 billion for the third...

Updated 21 Oct, 2024 07:18pm

Business & Finance

Bank Alfalah posts over 50% profit surge in 3QCY24

Bank Alfalah saw its consolidated profit jump to Rs13.3 billion during the quarter ended September 30, 2024, which...

Updated 17 Oct, 2024 10:34pm

Business & Finance

SBP directs banks to install at least 5MP CCTV cameras, sets new guidelines

The State Bank of Pakistan (SBP) has directed all banks and microfinance institutions to enhance the operations of...

Published 11 Oct, 2024 02:35pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 31	279.03
USD PKR Interbank Buying / Jan 31	278.88
USD to Japanese Yen / Jan 31	155.19
USD to Swiss Franc / Jan 31	0.91
Pound Sterling to USD / Jan 31	1.24
Euro to USD / Jan 31	1.04

Stock	Volume
Hang Seng / Jan 30	20,225.11
S&P 500 / Jan 31	6,040.53
India Sensex / Jan 31	77,500.57
Tokyo Nikkei / Jan 31	39,572.49
Nasdaq / Jan 31	19,627.44
FTSE 100 / Jan 31	8,673.96
Dow Jones / Jan 31	44,544.66
Germany DAX 30 / Jan 31	21,732.05

Item	Value
Crude Oil USD/Barrel / Jan 31	72.53
Karachi Cotton PKR/37.32 KG / Jan 31	18,285
Gold 10 Grams PKR / Jan 31	250,171
Gold Spot USD/Ounce / Jan 31	2,798.41
Cotton US¢/pound / Jan 31	65.88
Petrol/Litre / Feb 2	256.13

Gainers
Losers
Leaders

Stock	Price
Kohinoor Ind. / Jan 31 Kohinoor Industries Limited(KOIL)	10.21 ▲ 1 (10.86%)
IGI Life Ins / Jan 31 IGI Life Insurance Limited(IGIL)	15.13 ▲ 1.38 (10.04%)
Sana Ind / Jan 31 Sana Industries Limited(SNAI)	28.77 ▲ 2.62 (10.02%)
Tariq Corporation / Jan 31 Tariq Corporation Limited(TCORP)	16.91 ▲ 1.54 (10.02%)
I.C.C. Ind. / Jan 31 ICC Industries Limited(ICCI)	15.72 ▲ 1.43 (10.01%)
Redco Textile / Jan 31 Redco Textiles Limited(REDCO)	24.17 ▲ 2.2 (10.01%)
Leather Up Ltd. / Jan 31 Leather Up Limited(LEUL)	53.74 ▲ 4.89 (10.01%)
Pak Leather / Jan 31 Pak Leather Crafts Limited(PAKL)	32.63 ▲ 2.97 (10.01%)
Dandot Cement / Jan 31 Dandot Cement Company Limited(DNCC)	16.48 ▲ 1.5 (10.01%)

Stock	Price
Blue-Ex Ltd / Jan 31 Blue-Ex Limited (GEM)(GEMBLUEX)	54.86 ▼ -6.1 (-10.01%)
D.M. Textile / Jan 31 D.M. Textile Mills Limited(DMTX)	63 ▼ -7 (-10%)
First Imrooz Mod. / Jan 31 First Imrooz Modaraba(FIMM)	189 ▼ -21 (-10%)
Power Cem(Pref) / Jan 31 Power Cement (Pref)(POWERPS)	10.41 ▼ -1.15 (-9.95%)
National Silk / Jan 31 The National Silk & Rayon Mills Limited(NSRM)	40.84 ▼ -4.51 (-9.94%)
Sec. Inv. Bank / Jan 31 Security Investment Bank Limited(SIBL)	7.83 ▼ -0.76 (-8.85%)
Shahtaj Sugar / Jan 31 Shahtaj Sugar Mills Limited(SHJS)	109.56 ▼ -10.44 (-8.7%)
Kohinoor Mills / Jan 31 Kohinoor Mills Limited(KML)	31.05 ▼ -2.9 (-8.54%)
F.Credit & Inv / Jan 31 First Credit and Investment Bank Limited(FCIBL)	7.28 ▼ -0.66 (-8.31%)

Stock	Volume
Cnergyico PK / Jan 31 Cnergyico PK Limited(CNERGY)	66,672,997 ▲ 0.14
Sui South Gas / Jan 31 Sui Southern Gas Company Limited(SSGC)	48,364,956 ▼ -1.33
WorldCall Telecom / Jan 31 Worldcall Telecom Limited(WTL)	36,344,486 ▼ -0.06
Waves Home Appliances / Jan 31 Waves Home Appliances Limited(WAVESAPP)	33,226,540 ▼ -0.77
Bank Makramah / Jan 31 Bank Makramah Limited(BML)	31,509,642 ▲ 0.04
B.O.Punjab / Jan 31 The Bank of Punjab(BOP)	17,873,860 ▲ 0.2
K-Electric Ltd. / Jan 31 K-Electric Limited(KEL)	16,969,744 ▼ -0.07
Pak Refinery / Jan 31 Pakistan Refinery Limited(PRL)	16,492,313 ▼ -0.57
Treet Battery / Jan 31 Treet Battery Limited(TBL)	15,390,342 ▲ 1.07

Markets →

Budget 2024-25: income tax calculator for FY25

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