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Banking & Finance


KASB Bank being merged with Bank Islami: SBP KARACHI: State Bank of Pakistan (SBP), in response to rumours, here Thursday declared that KASB Bank is being merged with BankIslami; with assurance of security of depositors' interests."Under the current circumstances, merger with BankIslami remains a viable option wherein KASB Bank depositors' interests would be safeguarded and its problem would be resolved on a sustainable basis," said SBP's Chief Spokesman Abid Qamar during a press briefing to clarify SBP's position on KASB Bank related issues. SBP's Executive Director, Syed Irfan Ali and Director, SBP's Banks Inspection Department, Arshad Mehmood Bhatti also assisted him to answer the media queries.SBP's Chief Spokesman said four banks including Askari Bank, Sindh Bank, JS Bank and BankIslami submitted their interest to SBP for acquiring KASB Bank.SBP allowed the above banks to conduct due diligence of the bank. Post due diligence, the above banks came out with an estimated negative equity gap of Rs 12 to ...

Pakistan's Liquid Foreign Reserves cross $ 17.717 billion ISLAMABAD: Pakistan's Liquid Foreign Reserves crossed US $ 17.717 billion on April 24,2015, said a statement issued by the State Bank of Pakistan on Thursday. It said that foreign reserves held by the State Bank of Pakistan stood at US$ 12,565.1 million, while net foreign reserves held by banks were US$ 5,152.5 million on April 24.The SBP said that during the week ending April 24, 2015, SBP's Liquid FX Reserves increased by US$201 million to ...
SBP mops up Rs163.3bn KARACHI: State Bank of Pakistan (SBP) on Thursday mopped up Rs. 163.3 billion for four days through its open market operation (OMO).The rate of return is 7.48 percent, said an SBP statement. Copyright APP (Associated Press of Pakistan), 2015 ...
SBP's clarification on KASB Bank KARACHI: State Bank of Pakistan (SBP) has denied any deal about KASB Bank and clarifies that a Chinese investor approached State Bank through the bank's existing shareholders.In a clarification issued here on Wednesday, State Bank said that as part of its mandate it is responsible for protecting the interest of depositors and ensuring stability of the banking system.Fulfilling its mandated responsibilities State Bank assesses fitness and propriety of every prospective investor in a bank beyond ...
Agriculture sector plays role for quality life to rural population: State Bank ISLAMABAD: Deputy Governor State Bank of Pakistan (SBP) Saeed Ahmad on Wednesday said the Agriculture sector to play important role to provide quality life to the rural agrarian population and "We are committed to facilitate them in all areas.""Innovative way of farming is need of the hour and small farmers should adopt the new techniques and use modern equipments to enhance the production through also get better results, he said this while addressing the International ...
Rs490,000 earned thru auction of 'favourite' numbers FAISALABAD: Excise and Taxation department earned Rs490,000 from the auction of favourite numbers of new registration serial FDO 15 held in the office.According to sources,'FDO-1' remained most favourite number of the new serial and it was auctioned in Rs27,000 and another three digit number FDO-381 was auctioned in Rs11,600. No one took interest in other single digit numbers that used to be public favourite, the sources said.Copyright APP (Associated Press of Pakistan), 2015 ...
SBP asks commercial banks to deploy more ATM machines KARACHI: The State Bank of Pakistan has asked commercial banks to deploy more ATM machines nationwide, as currently available network of 9,000 machines lacks the strength to facilitate the growing population in future, said a Deputy Governor of the central bank, Riaz Riazuddin on Thursday."Density of ATMs is low in Pakistan and we need to increase it in future," said Riazuddin.He was speaking at the 13th ebanking conference and exhibition organised by Total Communications and ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln