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Company News: Pakistan


Following a series of marathon meeting between Karachi, Lahore and Islamabad stock exchanges late last month, the three bourses have recently announced their intention to integrate and form one stock exchange called Pakistan Stock Exchange (PSE). A Memorandum of Understanding (MoU) for the establishment of PSE was signed by the representatives of the three exchanges last week in the presence of finance Minister Ishaq Dar. What exactly is this integration all about and what it means for the country's stock market and its investors. This brief recording attempts to answer that question.

The Board of Directors of Silkbank Limited, in their meeting held on August 28, 2015, announced the half-yearly results ended June 30, 2015. Silkbank's total asset base grew by an impressive 16 billion over the period, which reflects the operational strength of the Bank. Silkbank's deposits for the period increased by Rs 13.8 billion, taking the June 30, 2015 total deposit base to Rs 82.5 billion.
Atlas Battery Limited is a leading battery manufacturer in Pakistan. It manufactures a wide range of products under the popular brand name - AGS. The company is part of the Atlas Group, created in 1962 by Yusuf H. Shirazi. The conglomerate has a number of renowned companies under its belt, dealing in Engineering, Power and Financial domains. Atlas Honda and Atlas Battery were the first two ventures for the group. Its portfolio also includes Atlas Insurance (incorporated in 1980) and Honda Atlas Cars (incorporated in 1992). The most recent venture for the group is Atlas Metals, which commenced operations in 2012.
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.


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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