Karachi: Waseela Microfinance Bank Limited commenced its operations in Pakistan with a branch in Islamabad. Waseela bank has been established to cater to the needs of common masses while providing the banking and financial services that are simple and easily accessible. The target markets for the bank are the people not using banking services. The [...]
KARACHI: National Bank of Pakistan, one the largest commercial bank of Pakistan has achieved the mile-stone of converting its 1,250 branches out of its country wide network of 1,270 branches. In just only 10 months the IT division of the bank meets its 98% target including the branches of the remote areas. Through this online [...]
The National Bank of Pakistan (NBP), one of the largest commercial bank of Pakistan has recorded 10% year on year growth in its first quarter profit due to significant amount of reversals in provision in diminution of investment and also due to decline in provisions against loans and advances. The lender asset base of the [...]
After almost around an year of exit of RBS (Royal Bank of Scotland), HSBC has also decided to sell out its operations in Pakistan. The closure and exit from Pakistan is one of the moves from HSBC, under its strategic restructuring plan; the bank is planning to close its operations in few of the Asian [...]
Karachi: Albarka Bank Pakistan, a subsidiary banking unit of Al Barka Banking Group BSC (ABG) announced an increase of 177% operating income in the year 2011. Shareholders’ equity is increased by 6.6%, total assets grow by 9%, total customers’ deposit and financing and investment increase by 24.8% and 28% at the end of year 2011. [...]
KARACHI –The SBP has announced to keep the key policy rate same at the level of 12% for next two months in order to curtail expected inflation in the second half of fiscal year 2011-12. This action plan is being determined keeping in view the fast inflation trend in Asian region. SBP had cut interest [...]
KARACHI: State Bank of Pakistan has estimated to receive workers’ remittances over $13 billion in the current fiscal year 2011-12. Deputy Governor Operations State Bank of Pakistan Mr. Muhammad Kamran Shahzad in a seminar on the “Role of Construction and Allied Industries in the Economic Development of Pakistan” told that in the year 2000 the [...]
KARACHI: A memorandum of Agreement (MoU) was signed on Wednessday, by State Bank of Pakistan and Pakistan Telecommunication authority for the promotion of Mobile Banking in Pakistan. The agreement was signed by Executive Director, SBP Mr. Inayat Hussain and Director General, Commercial Affairs, PTA Mr. Muhammad Saleem. The Governor SBP Mr. Yaseen Anwar and Chairman [...]
ISLAMABAD: Pakistan may face international isolation on economic front if drastic measures are taken during the review of bilateral issues with United States. The warning was given by Dr. Abdul Hafeez sheikh in a meeting of Parliamentary committee on National Security. The said committee has finalized its draft of recommendations regarding ties with US. Mr. [...]
ISLAMABAD: The Governor State Bank of Pakistan, Mr. Yaseen Anwar has given hints that SBP might be punishing those money exchange companies hugely who have been involved in money market manipulation in a negative way through speculation. A formula of punishment has been worked out by experts of SBP which has also authorized the Money [...]
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