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Banking & Finance


SBP accepts bids of Rs432.850bn KARACHI: State Bank of Pakistan (SBP) on Friday accepted bids of Rs. 432.850 billion while conducting its open market operation (injection and outright sale).Rs. 342.850 billion were injected for 7 days, with rate of return 9.37 per cent. Whereas, Rs. 90 billion injected for 73 days against 9.79 per cent rate of return.Copyright APP (Associated Press of Pakistan), 2014 ...

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) ...
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them."Our books show no outstanding against the said group, companies and guarantors, and the reference may kindly be withdrawn," said the Executive Vice President of the bank in a letter addressed to the National Accountability Bureau (NAB).The NBP in its letter further stated that all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 ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln