Banking
JS Bank and BankIslami partner to expand home remittance payouts across Pakistan
KARACHI, November 4, 2024: JS Bank and BankIslami have announced a strategic partnership to enhance home remittance services nationwide, by combining the strengths and retail networks of both institutions. Through this alliance, JS Bank will leverage BankIslami’s branch network to provide swift, secure, and convenient remittance payouts for beneficiaries across Pakistan. The partnership was formalized…
UBL Moves to Strengthen Market Position with Silkbank Amalgamation Proposal
Karachi, November 1, 2024: United Bank Limited (UBL) has officially submitted an offer to amalgamate Silkbank Limited with itself, as part of a strategic initiative aimed at enhancing its market presence and operational efficiency. The proposed amalgamation will be executed under a scheme to be filed with and sanctioned by the State Bank of Pakistan…
Pakistan Banks: Financial Performance Overview for 3Q2024
KARACHI, October 31 2024: In the third quarter of 2024, Pakistan’s listed banks demonstrated resilience, recording a total profitability of PKR 158 billion. While this figure represents a slight decline of 1% year-on-year, it reflects a robust increase of 16% quarter-on-quarter. Key Highlights: Bank-Specific Performance: Future Outlook: Most banks have maintained their dividend payouts, a…
Allied Bank Limited Reports Strong Earnings Growth in 3QCY24
KARACHI, October 30, 2024: Allied Bank Limited (ABL) has released its financial results for the third quarter of the calendar year 2024, reporting earnings per share (EPS) of PKR 10.84, a 9% increase year-on-year (YoY). While the quarterly earnings remained stable compared to the previous quarter, the bank’s performance for the first nine months of…
Meezan Bank wins ‘Best Company in Financial Category’ Award at the 39th MAP Awards
Karachi, 30th October 2024: Meezan Bank, Pakistan’s leading Islamic bank, has been honored with the prestigious ‘Best Company in the Financial Category’ award at the 39th Corporate Excellence Awards, hosted by the Management Association of Pakistan (MAP) at the Marriott Hotel, Karachi. The event brought together prominent government officials, dignitaries, thought leaders, regulators, and leading…