LAHORE: A meeting of The Bank of Punjab Board of Directors was held recently to consider and approve the unaudited financial statements for the 1st quarter of the year ending March 31, 2019. The meeting was presided by BOP Board Chairman Dr Pervez Tahir, who paid rich tributes to Acting President Khalid Tirmizey and his team […]

The chief finance officers (CFOs) of all commercial banks have assured complete cooperation to the Federal Board of Revenue chairman. All the chief financial officers of commercial banks held a meeting with Federal Board of Revenue Chairman Syed Muhammad Shabbar Zaidi at FBR Headquarters on Thursday. The participants of commercial banks included CFOs of Allied […]

Like other banks, National Bank of Pakistan (NBP) has also suffered a loss of 14.5% in profitability in the first quarter of 2019 due to heavy taxation under super tax which eroded billions of rupees in profits. According to the financial results, the profit-after-tax for the period under review amounted to Rs. 4.2 billion, which […]

LAHORE – Pakistan banking sector deposits grew by 8 percent YoY during 2018, a decade low growth. According to financial experts, this is in comparison to 10 percent growth in 2017 and 12 percent average in last 5 years. This is also the first time since 2008 that the sector has recorded single digit deposit […]

PESHAWAR – The management of the Bank of Khyber (Bok) has formally tendered apology to Khyber Pakhtunkhwa Finance Minister Muzaffar Said Advocate over the allegations it levelled against him through a paid advertisement appeared in local and national press few months ago. The deadlock between KP Finance Minister Muzaffar Said and MD BoK Shamsul Qayyum […]

KARACHI – The State Bank of Pakistan, in its quarterly performance review of the banking sector, has highlighted that the asset base of the banking sector has registered an increase of 7.7 percent. The Quarterly Performance Review (QPR) ended 30th June 2016, released on Thursday, marked with significant rise in advances by 7.6 percent, led […]

ISLAMABAD: The State Bank of Pakistan (SBP) has frozen bank accounts of over Rs1 billion as they were allegedly being used for financing terrorism. This was disclosed by Governor SBP, Ashraf Wathra and his team at a press conference here on Wednesday. Wathra said 121 bank accounts of more than Rs 1 billion were frozen […]

KARACHI: State Bank of Pakistan (SBP) will introduce a separate set of regulations on debt property swap so as to better supervise the exposure of banking industry to real estate sector i.e. Regulations for Debt Property Swap (DPS). According to a press release by SBP, the Regulations are meant to set minimum standards for DPS […]

KARACHI: The last winter marked the beginning of the low interest rate era—but banks found life a little easier and appeared on track to mitigate the negative effects of expansionary monetary policy on their earnings during the last year. Fortunately, investments in the government securities and hefty gains realised on equity stocks kept their profitability […]

A sharpreduction of over 100 basis points was noted for Pakistan Investment Bonds of all tenures during the auction conducted on November 19. The government managed to raise Rs150.327bn from the exercise. Of the total, three-year PIBs fetched Rs72.204bn at a cut off yield of 10.8986pc, followed by 10-year PIBs with Rs50.4bn at 11.9986pc and […]