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Business & Finance

2Q2021: Despite drop in net interest income, Pakistan's banking sector posts Rs70bn profit

Despite the drop in Net Interest Income (NII), Pakistan's banking sector posted profits of Rs70 billion in the ...

Published 30 Aug, 2021 01:37pm

Business & Finance

Sale of third-party products: SBP issues revised instructions for banks

In a bid to improve transparency and safeguard consumers, the State Bank of Pakistan (SBP) on Wednesday, issued a...

Published 25 Aug, 2021 03:32pm

BR Research

Currency: Not in danger zone yet

The pressure on PKR depreciation persists as the currency moved from its recent peak of 152.28 to 165.2 in fourteen...

Updated 25 Aug, 2021 09:57am

Markets

FTSE muted as heavyweight banks reverse course

LONDON: London’s FTSE 100 ended on a quiet note on Tuesday amidst weakness in travel and energy stocks as a jump ...

Published 14 Jul, 2021 03:59am

Business & Finance

Bank deposits show double-digit growth in FY21: report

Pace of increase fastest in 14 years, says Topline Securities

Published 13 Jul, 2021 05:01pm

Markets

Monday’s early trade: Nasdaq, S&P scale new peaks

• Banks up ahead of their earnings report this week • Didi slips on China apps removal confirmation • Virgin...

Published 13 Jul, 2021 03:22am

Business & Finance

Banks tighten grip on FX market as algo trading rises

LONDON: Top global banks consolidated their stranglehold on the $6.6 trillion a day global foreign exchange market...

Published 12 Jul, 2021 05:26am

Business & Finance

SBP reintroduces incentive scheme for marketing of home remittances

In a bid to facilitate remittances using formal channels, the government has approved the reintroduction of an...

Published 05 Jul, 2021 05:52pm

Business & Finance

Three Nordic digital wallet providers merge to take on global rivals

COPENHAGEN: Banks in Norway, Denmark and Finland said they had agreed to merge their mobile payment platforms, ...

Published 05 Jul, 2021 04:57am

Print

Loan write-off cases: MoF attracts Cabinet annoyance for not sharing names, details

ISLAMABAD: The Federal Cabinet has reportedly expressed annoyance at the Ministry of Finance (MoF) for not sharing...

Published 01 Jul, 2021 04:09am

Markets

Banks rates for currency notes (buying and selling)

KARACHI: The selling/buying rates for currency notes of major currencies issued by National Bank (NBP) here on...

Published 30 Jun, 2021 03:54am

Business & Finance

SBP amends capital adequacy regulations to boost REITs

SBP has lowered the applicable risk weight from 200% to 100% on banks/ DFIs’ investments in the units of REITs

Published 02 Jun, 2021 02:54pm

Business & Finance

Kamyab Jawan Program: Tarin directs banks to facilitate tier 1 borrowers

The Finance Minister directed that all the major banks and microfinance institutions come up with their suggestions on the design of the program within a week’s time and also earmark a percentage of their resources for the purpose.

Published 29 May, 2021 11:38am

Business & Finance

Fitch Ratings assigns WAPDA’s USD Notes 'B-' rating

“The proceeds of the proposed notes will be used to finance or refinance eligible green projects,” said Fitch.

Published 25 May, 2021 10:53am

Business & Finance

SBP Special ATM Monitoring exercise bears results

Consequently, the joint efforts of SBP and commercial banks saw an average of 96.5 percent uptime recorded in ATM services during Ramadan and Eid-ul-Fitr.

Published 25 May, 2021 09:34am

Markets

Banks, pharma lift Indian shares

BENGALURU: Financial and healthcare stocks pushed Indian shares higher on Wednesday after the central bank announced...

Published 06 May, 2021 03:49am

Pakistan

Banks to open on Saturday as SBP announces week long Eid holidays

All branches of banks and MFBs shall remain open on May 8, 2021 (Saturday) from 9:00 a.m. to 2:00 p.m. without break.

Published 04 May, 2021 05:35pm

Business & Finance

Pakistan banks profits up 31pc YoY in 1Q2021

Net Interest Income (NII) recorded an increase of 7pc YoY i.e. Rs11.4 billion in spite of a sharp decline in interest rates. However, NII reported a decline of 2pc QoQ as repricing of assets reach its completion.

Published 04 May, 2021 12:11pm

BR Research

HMB delivers strong first quarter

The interest rates may well have gone drastically down from last year, banking profits have not. Habib Metropolitan...

Published 30 Apr, 2021 07:30am

Business & Finance

Banks establish LCs for Maple Leaf’s cement equipment import

The cement maker informed that the equipment purchased will be used to enhance the company’s production capacity up to 25500 metric tons per day at the existing plant site Iskanderabad, district Mianwali.
MLCF said that the project is expected to commence production in August 2022.

Published 27 Apr, 2021 12:23pm

Business & Finance

After HBL, Bank Alfalah shows interest in Silkbank's consumer portfolio

“In this regard the bank has approach Silk Bank to provide its concurrence to enable the bank to apply to SBP for its approval to conduct due diligence of the Silkbank Consumer Finance Portfolio,” it added.

Published 26 Apr, 2021 11:15am

Business & Finance

Trend of housing finance is accelerating, says SBP's Kamil

Sima Kamil said that banks have approved loans of Rs 15 billion in six months and earlier loan terms were difficult but now they have been eased.

Published 22 Apr, 2021 02:26pm

Business & Finance

In world first, NZ to make banks report climate impact

WELLINGTON: New Zealand will force banks to reveal the impact their investments have on climate change under...

Updated 15 Apr, 2021 10:07am

Print

Donations, contributions: SBP directs banks to open EKBNS Fund account

KARACHI: The State Bank of Pakistan (SBP) has asked all commercial banks for opening of special fund account titled...

Updated 14 Apr, 2021 10:11am

Business & Finance

Private Sector Wheat procurement: SBP amends instructions

Banks are required to strictly fulfill the conditions for extending financing to eligible borrowers, which should be licensed and functional flour mills duly evidenced by some documentation or licensed wheat traders registered with the concerned authority/department.

Published 03 Apr, 2021 11:03am

Business & Finance

SBP launches a FX Portal for end-to-end digitalization of FX requests

The State Bank of Pakistan (SBP) has launched a Foreign Exchange (FX) Portal for end-to-end digitalization of FX requests.
Currently, customers of 22 banks can submit their cases digitally from their workplace.

Published 27 Mar, 2021 06:21pm

Pakistan

Banks directed to ensure easier financing to public for affordable housing

The revised scheme is expected to make access to housing finance much easier for a large number of households who currently do not own a house.

Published 25 Mar, 2021 08:07pm

Business & Finance

Procurement of Wheat: SBP issues instructions for banks

Special efforts shall be made to ensure that the facilities availed for purposes other than wheat procurement are not utilized for financing of wheat stocks, it said.

Published 22 Mar, 2021 01:35pm

Pakistan

State Bank advises all banks to implement digital portals

It has further been advised that banks must make comprehensive arrangements for any contingency and ensure business continuity in case of disruption in their portals.

Published 16 Mar, 2021 07:27pm

Business & Finance

African currencies week ahead: Kenyan currency seen up, Zambia, Uganda’s to soften

NAIROBI: Kenya’s currency is likely to firm against the US dollar next week as Zambia’s and Uganda’s soften....

Published 15 Mar, 2021 05:22am