With a representation of 60 percent in the total deposits and over 52 percent in the total advances, the performance of big five banks (HBL, MCB, NBL, UBL, ABL) seems to depict a true picture of the banking industry.
Workers’ remittances delivered yet another month of healthy growth. The State Bank data shows that overseas Pakistanis sent $1.21 billion in April, which is a growth of 8.6 percent over March. The monthly remittance figure also posted year-on-year growth of 6.5 percent.
Formed by a string of mergers and acquisitions, Summit Bank Limited kicked off the first quarter of 2013 on a grim note. With growth in earning assets acutely angled towards investments, the top line of SMBL couldn continue its upward journey.
Into its fifth year, branchless banking (BB) continues to register impressive growth in terms of both sector infrastructure and activity volumes. Meanwhile, the State Banks reporting on the BB sectors performance has entered its sixth quarter, and the latest BB Newsletter (Issue 6) for the period October to December, 2012 also shows many improvements and modifications in data reporting.
Dabbling in risk-free government securities seems to be the favourite past time of the countrys big banks. Askari Bank (AKBL), despite being small, has been following the tide for quite some time now.
The first quarter of 2013 appears to be quite sluggish for the second largest bank of the country. Whereas the deposits of its four mighty peers grew by three percent on an average since December 2012, NBPs deposits moved south by 11 percent year-on-year.
Cost cutting helped MCB Bank keep its bottom line growth in green for 1QCY13. The bank announced its 1QCY13 financial results showing a modest 3.7 percent year-on-year growth in profits.
