Just in:  

You are here: Home»Pakistan»Banking & Finance

Banking & Finance


Liquid FX reserves increased by $12million: SBP KARACHI :SBP's liquid FX reserves, during the week ending November 21, 2014, increased by $12 million to $8,506 million compared to $8,494 million in the previous week.The total liquid foreign reserves held by the country stood at $13,219.9 million on November 21, a press release of State Bank of Pakistan (SBP) said here on Tuesday.The break-up of the foreign reserves position is as under: i) Foreign reserves held by the SBP: $ 8,506.4 million ii) Net foreign reserves held by banks : $ 4,713.5 million iii) Total liquid foreign reserves :$ 13,219.9 millionDuring the week SBP made payments of $ 195 million on account of external debt servicing and other officials payments, which included $141 million paid to IMF. During the week SBP received $58 million from multilateral, bilateral and other sources, it added. Copyright APP (Associated Press of Pakistan), 2014 ...

No outstanding loans against Ittefaq Foundries: NBP ISLAMABAD: The National Bank of Pakistan (NBP) has stated that Ittefaq Foundries had paid back their all banks loans, including that of the NBP, and there was nothing outstanding against them."Our books show no outstanding against the said group, companies and guarantors, and the reference may kindly be withdrawn," said the Executive Vice President of the bank in a letter addressed to the National Accountability Bureau (NAB).The NBP in its letter further stated that all ...
NBP Plans an Aggressive Roll Out of ATMs ISLAMABAD: National Bank of Pakistan has embarked an aggressive plan to roll out a wide ATM network by the end of 2015 at 1,000 different locations countrywide including far-flung areas.The ATMs will be equipped with the state-of-art technology which will provide a hassle free cash transactions to customers of all income levels.This was stated by Syed Ahmed Iqbal Ashraf, President and Cheif Exective (CEO), National Bank of Pakistan who was present at the signing ceremony ...
Mohtasib rejects HBFCL's loan recovery process %9 ISLAMABAD: In a bid to provide relief to an appellant, the Federal Ombudsman while rejecting the loan recovery process of the House Building Finance Company Limited (HBFCL)'s termed it not in accordance with the principle of finance division.Ch. Masood Akhtar, a resident of Rawalpindi Cantt. filed a complaint in the Wafaqi Mohtasib Secretariat that he had obtained a loan of Rs. 400,000 from the institution in 2005, however even after paying 100 installments and later ...
State Bank quells rumors, banking system of Pakistan is stable KARACHI: Since the imposition of moratorium on KASB Bank Ltd, rumors are being spread that the financial condition of some banks is weak and they may also face supervisory action.These are also being accompanied with misleading information attributed to State Bank of Pakistan (SBP). The SBP has taken strong notice of such misinformation and has clarified that no such information has been circulated through media nor it has been placed on SBP's website, said SBP ...
Performance of Banking Sector Remained Impressive: SBP KARACHI: Substantial improvement has been observed in the banking sector during July-September quarter of 2014. The profit (before tax) reached historically high level of Rs 176 billion as of end September, 2014 showing 44 percent increase over the end September, 2013. Similarly, the return on assets (ROA) and return on equity (ROE) inched up to 1.4 percent and 15.9 percent respectively up from 1.1 percent and 12.3 percent a year earlier. The quarterly banking sector ...
Pak forex stand at $ 13.22801bn KARACHI: The total liquid foreign exchange reserves of the country stand at dollars 13.22801 billion, said State Bank of Pakistan (SBP). SBP's weekly statement here on Thursday said the foreign reserves held by SBP on Nov.14, amounted dollars 8.49307 billion and the net foreign reserves held by other banks amounted dollars 4.73404 billion. During the week, SBP's liquid foreign exchange reserves increased by dollars 7 million to dollars 8.494 billion compared to dollars 8.487 billion ...


Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,723.42 0.09
Arrow DAX 9,974.87 0.60
Arrow CAC-40 4,382.34 0.20
Arrow Nikkei 17,248.50 0.78
Arrow H.Seng 24,004.28 0.45
Arrow Sensex 28,438.91 0.19

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln