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Company News: Pakistan


Magdi Batato is the outgoing Managing Director and CEO Nestlé Pakistan. He has been the Market Head. He is a Swiss national with a PhD in mathematics and physics from Ecole Polytechnique Fédérale de Lausanne and an MBA from INSEAD.

A meeting of the Board of Directors of The Bank of Punjab was held on Thursday. During the meeting, un-audited Financial Statements of the Bank for the half year ended June 30, 2015 were approved by the Board. During 1st half of the year 2015, The Bank of Punjab earned before tax profit of Rs 4.2 billion as against Rs 2.1 billion for the 1st half of year 2014 thereby registering a massive rise of 100 percent. Similarly, the earning per share (EPS) for the half year ended June 30, 2015 showed phenomenal surge and touched the level of Rs 1.78.
Bank of Khyber (BOK) earned Rs 710.035 million profit after tax (PAT) in first six months of 2015, showing 12 percent growth as compared t corresponding period of 2014 which was Rs 633.734 million. The results were announced during a meeting of the bank's Board of Directors, chaired by Dr Hammad Uwais Agha, KP Additional Chief Secretary and Chairman of BoK Board of Directors.
The Board of Directors of Indus Motor Company Ltd met on Friday to review the company's financial and operating performance for the year ended June 30. IMC announced a net profit after tax of Rs 9.1 billion for FY 2014-15 against Rs 3.9 billion posted for previous fiscal year. The improving economic environment, driven by the government efforts provided much needed boost to the entire industry, enabling the company to post record gross sales revenue of Rs 116 billion, up 70 percent compared to Rs 69 billion for the same period last year.
NIB Bank announced financial results for H1 2015 on Wednesday. For the six months ended June 30, 2015, the Bank has posted an operating profit of Rs 3.34 billion compared to an operating profit of Rs 635 million for the same period last year, an increase of 425 percent. Key highlights for the half year ended June 30, 2015, compared to the same period last year are:
The Board of Directors of ICI Pakistan Limited is pleased to announce the Company's financial results for the year ended June 30, 2015. Consolidated Profit after Tax for the year at PKR 2,276 million and EPS of PKR 24.65 is 24 percent higher than the same period last year.
Standard Chartered Bank (Pakistan) Limited announced its H1 2015 results. The half yearly profit of the bank (before tax) is PKR 8.5 billion as compared to PKR 7.2 billion in the first half last year. The Bank's earnings per share in the current half are PKR 1.29 versus PKR 1.22 in the first half last year. Revenue has enhanced by 11 percent in comparison with first half of last year. Administrative costs continue to be tightly managed. The cost discipline despite selective investment led to a decrease of 4 percent in overall administrative costs.


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln