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Scheme of amalgamation of KASB Bank approved by Federal Govt: SBP KARACHI: State Bank of Pakistan (SBP) on Thursday informed the depositors of KASB Bank Limited (‘’the bank'') that scheme of amalgamation of the bank has been approved by the Federal Government.In terms of the amalgamation scheme, KASB Bank Limited has been merged with and into Bank lslami Pakistan Limited, a statement of State Bank said here.Accordingly, the moratorium placed on former KASB Bank Limited has been lifted with immediate effect. The depositors of the former KASB Bank Limited are now depositors of Bank lslami Pakistan Limited and are free to operate their accounts maintained at the respective branches of the former KASB Bank Limited as per their convenience.The SBP acknowledges the patience shown by the depositors of the former KASB Bank Limited as well as their confidence on the regulator during moratorium period, it said.The SBP reiterates its commitment to safeguard the interests of depositors and to ensure safety and ...

SBP injects Rs 715.9bn KARACHI: State Bank of Pakistan (SBP) on Monday injected Rs 715.9 billion into market for four days during its open market operation.The rate of return is 7.51 percent per annum, said a SBP statement.Copyright APP (Associated Press of Pakistan), 2015 ...
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. ...
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 ...


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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln