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Banking & Finance


SBP announces banking and office hours for Ramazan-ul-Mubarak  KARACHI: The State Bank of Pakistan (SBP) has announced the business (banking) and office hours for the ensuing holy month of Ramazan-ul-Mubarak. According to SBP here Tuesday, all banks, development finance institutions (DFIs), microfinance banks (MFBs) and field offices of SBP Banking Services Corporation (SBP BSC) will observe business (banking) hours from 8:30 a.m. to 2:00 p.m. (without break) from Monday to Thursday during Ramazan-ul-Mubarak. Their Friday business timings will be from 8.30 a.m. to 12.30 p.m. (without break). However, SBP, SBP BSC, banks, DFIs and MFBs will observe office hours from 8.30 a.m. to 3.00 p.m. (with 15 minutes prayer break from 1.30 p.m. to 1.45 p.m.) from Monday to Thursday during Ramazan. Their Friday office timings will be from 8.30 a.m. to 1.30 p.m. (without break). Copyright APP (Associated Press of Pakistan), 2012 ...

PPC recover Rs.1515.81mn loans LAHORE: Punjab Provincial Cooperative Bank has accomplished recovery of Rs.1515.81 million Non Performing Loans (NPLs). Of the aforementioned sum Rs.1262.24 million have been recovered in cash whereas property of defaulters amounting to Rs. 253.51 million was transferred in the name of bank. According to a press release on Tuesday, it was stated during a briefing that the bank was giving Kharif-2012 crop loans to small farmers through cooperative societies till July 31,to the tune of Rs.2500 million. Acting ...
SBP allows Oman Bank to change name  RECORDER REPORT KARACHI: The State Bank of Pakistan (SBP) has allowed Oman International Bank to change name. According to SBP’s circular BPRD (R&P-02)/131.03(4)/2012/8615, in exercise of the powers conferred upon State Bank of Pakistan (SBP) by clause (c) of sub-section (2) of Section 37 of the SBP Act, 1956; SBP is pleased to notify that the name of “Oman International Bank S.A.O.G.” has been changed to “HSBC Bank Oman S.A.O.G.” with effect from June 03, 2012. ...
SBP to buy govt paper in reverse repo  KARACHI: The State Bank of Pakistan (SBP) said it would buy government paper from commercial banks on Friday in a seven-day reverse repo to inject funds into the money market. However, SBP did not say how much money it would inject through the open market operation. Copyright Reuters, 2012 ...
Reserves fall to $14.909 billion  ISLAMABAD: Foreign exchange reserves dropped to $14.909 billion in the week ending July 6 from $15.236 billion in the previous week, State Bank of Pakistan (SBP) said on Thursday. Reserves held by the SBP fell to $10.496 billion from $10.802 billion, while those held by commercial banks dropped slightly to $4.413 billion from $4.434 billion. Foreign exchange reserves hit a record $18.31 billion in July 2011, boosted by a $191.9 million loan from the World Bank and ...
Govt borrows Rs308 billion through MTB auction  RECORDER REPORT KARACHI: A cash-strapped PPP-led coalition government borrowed Rs308 billion on Wednesday through auction of Market Treasury Bills (MTBs) to meet its financial requirements. This is the first and over the target borrowing through MTBs during the fiscal year 2012-2013 (FY13). For the first auction, the federal government had set a target of Rs. 225 billion, but it borrowed an amount of Rs. 308 billion. The auction, conducted by State Bank of Pakistan (SBP), attracted heavy participation. ...
NBP receives "Pakistan Deal of the Year Award 2011"  ISLAMABAD: National Bank of Pakistan (NBP) has received "Pakistan Deal of the Year Award 2011" for acting as Inter-creditor Agent as well as Lead Arranger and Advisor with regards to financing of two Renewable Wind Energy Power Projects of 50 MW each in the country. The two power projects are Pakistan's first ever 100% Islamic financed Renewable Energy Power Project which has also set a new precedent in terms of Islamic financing structure in the local ...


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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