12052016Mon
Last update: Mon, 05 Dec 2016 01pm

Banking & Finance

Pakistan - Banking & Finance

ZTBL to set up 10 more branches in country LAHORE: The Zarai Taraqiati Bank Limited (ZTBL) will expand its branch network by opening 10 new branches in the country in the current year.This was said by ZTBL President Sayyed Talat Mehmood while addressing an award distribution ceremony of ZTBL officials at a local club on Monday.He added a total number of branches of the bank now had become 460 in the country.He said the bank's deposits had been increased up to Rs 155 billion from Rs 11 billion within three years since he took over the charge. He added the ZTBL's profit had also been raised up to Rs 8.5 billion from Rs 5 billion in the same period.The president said the bank's recovery had been improved whereas its annual disbursement reached Rs 151 billion in the current year.The ZTBL was making enormous growth and progress as its assets had also been increased, he maintained.He said those who achieved ...

Pakistan - Banking & Finance

NBP installed ATM at Khunjarab ISLAMABAD: National Bank of Pakistan (NBP) installed an automated teller machine (ATM) on the world's highest-altitute at Khunjarab area of Gilgit Baltistan.The ATM which has been installed at an altitute of 15000 feet above the sea level was launched by President of NBP Syed Iqbal Ashraf and Lieunent Genearl Malik Zafar Iqbal, said a statement of NBP issued here on Saturday.The statement added that the project was a part of green energy as the power ...

Pakistan - Banking & Finance

Pakistan's Liquid Foreign Reserves cross US$24bn ISLAMABAD: The total liquid foreign reserves held by the country stood at US$24,095.8 million on November 11,2016.Giving break-up of the foreign reserves position, a statement of the State Bank of Pakistan (SBP) said that foreign reserves held by the State Bank of Pakistan stood at US$ 19,027.1 million while Net foreign reserves held by commercial banks were US$ 5,068.7 million on November 11.During the week ending November 11, 2016, country's total reserves decreased by US$ ...

Pakistan - Banking & Finance

Loans of Rs2.5bn for farmers LAHORE: Punjab government has allocated Rs 2.5 billion for farmers and would be distributed for Rabi season 2016-17.This was stated by Provincial Minister for Cooperatives Malik Muhammad Iqbal Channar while addressing a meeting here at his office on Thursday.He said that growers who faced destruction due to heavy rains earlier were being given priority.He said that collection of loans of Kahrif season has also been started and the process would be completed soon.Channar said that ...

Pakistan - Banking & Finance

SBP cuts SLR by five percent for Islamic banks RIZWAN BHATTIKARACHI: In order to facilitate the Islamic Banking Industry, the State Bank of Pakistan (SBP) has announced a reduction in Statutory Liquidity Requirement (SLR) for Islamic banks and Islamic banking branches by 5 percent to fix at 14 percent. From today (Wednesday) all Islamic banks and Islamic banking branches will be required to maintain a 14 percent SLR compared to 19 percent previously.Sources in the banking industry told Business Recorder that SBP's move will ...

Pakistan - Banking & Finance

CDNS achieves Rs 80 billion by Nov,10 ISLAMABAD: The Central Directorate of National Savings (CDNS) achieved Rs 80 billion in first quarter of current fiscal year from July, 01 to November,10 2016-17.The target for the year 2016-17 was set at Rs 228 billion as the Directorate was able to achieve the target of Rs 218 billion for the previous fiscal year, a senior CDNS official said here on Tuesday.Replying to a question, he said that CDNS is in the process to implement ...

Pakistan - Banking & Finance

Rs5,000, 40,000 prize bond not to be withdrawn Federal Minister for Finance Senator Ishaq Dar has dismissed rumours about the demonetization of Rs 5000 currency notes and withdrawal of Rs 40,000 prize bonds. Ishaq Dar on Monday said in a press statement that these rumours are totally false and are spread by the vested interest for ulterior motives. There is even no such proposal under consideration of the government, added the Finance Minister.This comes after Mohammad Ishaq Dar who was meeting with the ...