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Banking & Finance


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 statistics for the quarter ended September, 2014, released by the State Bank of Pakistan today, indicate that Capital Adequacy Ratio (CAR) of the banking system improved to 15.5 percent in September, 2014 compared to 15.1 percent a quarter earlier largely on the back of healthy profits. The CAR at its existing level is well above the minimum ratio of 10 percent set by the SBP, despite implementation of strict Basel-III capital standard. Encouragingly, the stress ...

Pak forex stand at $ 13.22801bn KARACHI: The total liquid foreign exchange reserves of the country stand at dollars 13.22801 billion, said State Bank of Pakistan (SBP). SBP's weekly statement here on Thursday said the foreign reserves held by SBP on Nov.14, amounted dollars 8.49307 billion and the net foreign reserves held by other banks amounted dollars 4.73404 billion. During the week, SBP's liquid foreign exchange reserves increased by dollars 7 million to dollars 8.494 billion compared to dollars 8.487 billion ...
SITE's budget for 2014-15 of Rs1.282bn approved KARACHI: Board of Directors of SITE Limited has approved the budget of year 2014-15 of Rs 1.282 billion, with total deficit of Rs 4.6 million and total income estimated is Rs 1.276 billion.The meeting of the Board of Directors of SITE Ltd, was chaired by Chairman of Board, Commissioner Karachi Shoaib Ahmed Siddiqui, said a statement on Wednesday.Secretary Industries Abdul Kabeer Qazi, Managing Director SITE limited Nazar Muhammad Bozdar, Secretary SITE limited Imdad Ali Shah, ...
SBP clarifies KASB Bank operations not suspended KARACHI: In terms of the moratorium placed on KASB Bank Limited on November 14, the State Bank of Pakistan (SBP) has clarified that KASB Bank operations are not suspended, therefore, offices and branches of the bank will remain open as per their normal timings. The State Bank of Pakistan has already advised the bank to commence payments of up to Rs. 300,000/- to their deposit account holders, with effect from November 17. Consequently, 92.3 per ...
UBL awarded best deal of the year and CS as Best Investment Bank in Pakistan ISLAMABAD: In a great achievement for Pakistan, the United Bank Limited (UBL) share placement has been awarded the Best Deal Award by the prestigious "The Asset" publicatio".This award is given on an annual basis to the best performing capital and bond market transactions selected from the entire Asian countries.The award demonstrates the strategic importance and value creation achieved from the UBL share placement for Pakistan.The submission placement was made by Credit Suisse which is the ...
NBP's ATM services will be non-operative on Nov 16 KARACHI: National Bank of Pakistan's (NBP) ATM services shall be down on Sunday (Nov.16) from 0000 to 1000 hours due to critical maintenance activity.During this activity, the NBP ATM services will be impacted and NBP/other banks' customers will not be able to avail the service, said NBP release here on Friday. NBP will try to minimize the downtime and will let 1-LINK inform as soon as the ATM services are operational.Copyright APP (Associated Press of ...
Overseas Pakistanis remit more than $6bn in 4 months KARACHI: Overseas Pakistanis remitted an amount of $ 6.077082 billion in first four months of current fiscal year (FY15).This shows an impressive growth of 15.21 percent compared with $5.275061 billion received during the same period of the last fiscal year (FY14), said State Bank of Pakistan's statement here on Thursday.The inflow of remittances during Oct. 2014 from Saudi Arabia, United Arab Emirates (UAE), United States of America (USA), United Kingdom, GCC countries (including Bahrain,Kuwait,Qatar and ...


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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 $16.137 bln