Business
NBP recorded highest ever after tax profit in its history
Karachi, February 25, 2021: For the year 2020, National Bank of Pakistan (NBP) has delivered strong financial results, demonstrating resilience of its business model and the efforts of its 15,000+ workforce. During these challenging times, the Bank has worked with the Government to support economic activities and to ensure that customers are serviced uninterruptedly. Despite…
Byco Petroleum’s Net Profit Up 4.5X to Rs. 961 million
Karachi, February 23, 2021: Byco Petroleum Pakistan Limited (“Byco”), Pakistan’s largest petroleum refiner, today reported financial results for the six months ended 31 December 2020. The company’s gross revenues declined by 20percent due to fall in oil prices, to PKR 100.1 billion from PKR125.6 billion in the corresponding period last year, owing to Covid-19’s impact on…
Pakistan Consumer Confidence Index (CCI) Q4 2020 report issued by Dun & Bradstreet and Gallup Pakistan!
Karachi, February 23, 2021: Dun & Bradstreet Pakistan and Gallup Pakistan have issued their report on ‘Pakistan Consumer Confidence Index (CCI)’ for Q4 2020. The Consumer Confidence Index remained 90.3 points in Q4 2020, compared to 88.7 points in Q3 2020, translating into 1.8% quarter-on-quarter increase. This was driven by the improvement in Current Situation, up…
HBL: 4QCY20 Earnings Call Key Takeaways
§ Karachi, February 22, 2021: The Bank’s management is embarking on a profit retention/capital conservation strategy, in order to finance several growth projects, which are expected to contribute to profitability over the next 3-5 years. Hence, we believe current level dividend payout is likely to remain unchanged despite earnings growth. § The Bank is also slightly capital…
Domestic Steel Bar prices feared to increase further as Govt snubs Sector Woes!
Karachi, February 22, 2021: The domestic steel re-bar prices are feared to cross Rs150,000 per tonne on massive surge in global scrap rates, which have gone up from $350 per tonne in October to $455 per tonne, and recent 10pc increase in power tariffs for the energy-intensive steel industry. The industry sources say the higher steel prices could jeopardize the government’s…