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FY2011-12: PPCBL advanced Rs9.9bn agri loans: CEO  RECORDER REPORT LAHORE: Punjab Provincial Cooperative Bank Ltd. (PPCBL) advanced cooperative loans of Rs. 9.9 billion from 1st July 2011 to 30th June 2012 to meet cash needs of the farming community, PPCBL President and CEO Liaquat Durrani said here on Tuesday.   He said the bank gave these loans through cooperatives societies to farmers for sowing, growing harvesting Kharif  and Rabi crops, which contribute more than 21 percent to the GDP. Besides, the cooperative bank issued credits to individuals for purchase of tractors, agriculture machinery, livestock, and machinery for industrial units against the gold jewellery collateral.   Durrani said that the bank has set a target of Rs. 4 billion for issuance of agriculture loans from 1st October to 31st December 2012 for development of the agriculture and industrial sectors. ...

Mobile Phone & Smart Card banking accounts surge  KARACHI: The Deputy Governor, State Bank of Pakistan (SBP), Kazi Abdul Muktadir, has disclosed that Mobile Phone and Smart Card banking accounts have surged to nearly 1.45 million in the country, which indicates that Pakistan's financial sector is now going through a dynamic transition led by the latest technology solutions.   Speaking at the launching ceremony of a new product, `Easy Paisa Khushaal' of Tameer Microfinance Bank (TMFB) and Telenor at a local hotel on Tuesday, he ...
India operation: UBL approaches RBI  RIZWAN BHATTI KARACHI: Another Pakistani bank has approached Reserve Bank of India (RBI) to explore banking operation opportunities in the neighbouring country.   Sources in banking sector said Monday that leading Pakistani bank - United Bank Limited - has formally moved toward Indian banking regulator - RBI - to obtain information about the regulatory requirement for starting banking operation in India.   In recent peace dialogue and trade between two neighbouring countries, when the trade volume of both sides is ...
SBP warns general public about fraudulent prize schemes in foreign currency KARACHI: The State Bank of Pakistan (SBP) has warned the general public not to be misled by fraudulent activities/schemes launched by some unscrupulous elements informing it about the winning of heavy cash prizes in foreign currency.   It has come to the notice of the State Bank that the members of the general public are being approached through telephone calls/web mail service/SMS/Surface mail informing them that they have won heavy cash prizes in foreign currency.   The fraudulent groups ...
Rs 49.592bn released for development projects LAHORE: The Punjab government has released Rs 49.592 billion to executing agencies for various development sectors against the net development programme of Rs 210 billion during the first quarter of financial year 2012-13.   Official sources told APP on Sunday the net size of the Annual Development Programme (ADP 2012-13) is Rs 210 billion out of which Rs 49.592 billion had been released for implementation and completion of development projects.   The Punjab government released an amount of Rs ...
SBP accepts bids of Rs603,250mn in OMO KARACHI: State Bank of Pakistan on Friday accepted total received bids of Rs 603,250 million during its Reverse Repo Open Market Operation (Injection) in Government of Pakistan Market Treasury Bills and Pakistan Investment Bonds.   The tenure of the injection is 7-days and the rate of return is 9.01 percent, said a SBP statement.   Copyright APP (Associated Press of Pakistan), 2012 ...
SBP BSC sets up customer facilitation centres for smooth functioning of ATMs KARACHI: The State Bank of Pakistan Banking Services Corporation (SBP BSC) has set up Customer Facilitation Centres at all its sixteen field offices to ensure smooth and uninterrupted functioning of Automated Teller Machines (ATMs) of commercial banks throughout the country, especially during Eid-ul-Azha holidays.   A spokesperson of the SBP said on Thursday that these Customer Facilitation Centres, which are operational from 9.00 A.M. to 5.30 P.M. on all working days, will receive complaints from the general ...


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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 $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln