KARACHI, November 08 2024: The Governor of the State Bank of Pakistan (SBP) emphasized the need to substantially increase credit allocation to projects that enhance climate resilience and promote environmentally sustainable growth. “It is essential that we leverage our financial sector’s potential to align with the global shift toward sustainability, thereby contributing to both our…
KARACHI, November 07, 2024: Garaj, Pakistan’s leading cloud services and cybersecurity solutions provider by Jazz, has partnered with Standard Chartered Bank to create a regional availability zone in Pakistan. This strategic initiative will enhance Standard Chartered’s operational resilience and customer experience across multiple countries, reinforcing its commitment to digital transformation and streamlined global data centre…
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…
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…
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…