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Banking & Finance


Banking sector performance improves KARACHI: The operating performance of banks shows a marked improvement as the profit before tax has increased by 52 percent year-on-year to reach Rs 247 billion by the end of 2014.The quarterly performance review of the banking system for the quarter ending December 31, 2014 released by State Bank of Pakistan (SBP) here on Thursday said that this is reflected in the profitability indicators: net interest margin (NIM) has increased to 4.4 percent in December 2014 from 3.9 percent in calender year 2013 and ROA (before tax) has inched up to 2.2 percent in December 2014, up from 1.6 percent in calender year 2013, the report adds.The report states that high profitability, capital injections by some banks, and debt-equity swap of one bank have further improved the solvency of banking sector.With an increase of 1.6 percentage point, capital adequacy ratio (CAR) of the banking sector has reached at 17.1 percent, ...

147 properties sealed for non-payment of property tax; 60 token tax defaulters' vehicles impounded RAWALPINDI: Excise and Taxation Department has sealed 147 commercial and residential properties here during last two days for non-payment of property tax while 60 token tax defaulters' vehicles were also impounded.According to Excise and Taxation department spokesman, the city has been divided into four sectors and special squads comprising 23 inspectors under the supervision of Excise and Taxation Officer (ETO), are conducting raids and the properties of tax defaulters are being sealed. He said, on ...
SBP injects Rs 950bn into market KARACHI: State Bank of Pakistan (SBP) on Friday injected Rs 950 billion into market for seven days through its open market operation (injection).The rate of return accepted is 7.5 percent, said a SBP statement.Copyright APP (Associated Press of Pakistan), 2015 ...
Pak forex surge to $16.70603bn KARACHI: Total liquid foreign exchange reserves of the country increased to dollars 16.70603 billion during the week ending on April 3, said State Bank of Pakistan (SBP). SBP's weekly statement here Thursday said the foreign reserves held by State Bank were $11.61605 billion and the net foreign reserves with other banks amounted $ 5.08908 billion. During the week, SBP's liquid foreign exchange reserves increased by $494 million to $11.617 billion compared to $ 11.123 billion ...
Youth to get loans to become self-sufficient ISLAMABAD: National Bank of Pakistan (NBP) has received 59,794 applications for Prime Minister Youth Business Loans Scheme out of which 15,311 loans have been approved.According to an official source, an amount of Rs.3.914 billion has been disbursed, while 13,982 loans are under process.While the First Women Bank Limited (FWBL) has received 459 applications out of which 155 loans have been approved through which an amount of Rs.118.430 million has been disbursed and 95 loans are ...
Monetary policy awareness session on Apr, 14 FAISALABAD: The State Bank of Pakistan (SBP) will arrange an awareness session on Monetary Policy and related issues in the Faisalabad Chamber of Commerce and Industry (FCCI) here on April 14.The session will be arranged on a special request of President, FCCI Engineer Rizwan Ashraf to give a clear idea of the monetary policy. Copyright APP (Associated Press of Pakistan), 2015 ...
Government hailed for involving money changers in banking process KARACHI: Chairman, Pakistan Currency Exchange Companies and President, FOREX Association of Pakistan, Malik Muhammad Bostan has hailed government decision allowing commercial and micro finance banks to nominate A and B category exchange companies as their agents for branchless banking.In a statement here on Friday, expressing his gratitude to Federal Minister for Finance, Ishaq Dar and Governor of SBP, Ashraf Wathra, the head of FOREX Association said acceptance of a long pending demand through circular number ...


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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