Banking
Standard Chartered Pakistan delivers robust financial performance for Q3 2024
Karachi, 29 October 2024: Standard Chartered Bank Pakistan Limited (SCBPL) delivered a strong performance, that has led to a growth of 20% in profit before tax to PKR 75.5 billion. Overall revenue grew 16% year on year with positive contributions from all segments. While operating expenses increased 18% from the comparative period in line with…
NBP President Unveils Newly Renovated PIDC House Branch in Karachi
KARACHI, October 29 2024: In a significant boost to customer service and banking infrastructure, Rehmat Ali Hasnie, President of the National Bank of Pakistan (NBP), inaugurated the newly renovated PIDC House Branch in Karachi. This project represents the bank’s commitment to enhancing the banking experience for its clients and reflects ongoing investments in branch improvements….
Tax Policy Creates Challenges for Banking Sector
KARACHI, October 28 2024: In recent developments, a controversial fiscal measure has emerged: a higher tax on banking income derived from government securities. This tax is tied to the advance-to-deposit ratio (ADR), imposing an additional 10-15% charge on banks whose ADRs fall below 50% at the end of the banking year. While the intention behind…
Faysal Bank profit up by 64 pc to Rs 19.8 billion in 3-month of 2024
Karachi, October 24, 2024: Faysal Bank Limited (FBL), one of Pakistan’s leading Islamic banks, has announced robust financial results for the nine months ending September 30, 2024. The bank reported a remarkable Profit After Tax (PAT) of PKR 19.8 billion, reflecting a substantial 64% increase compared to the same period last year. In light of…
Meezan Bank’s Branch Network Surpasses One Thousand
Meezan Bank has reached a significant milestone by expanding its branch network to 1,015 locations across the country. In the past year alone, the bank has added 32 new branches, pushing its total beyond the one-thousand mark. Looking ahead, Meezan Bank plans to establish an additional 35 branches, aimed at enhancing accessibility to its services…