SBP announces top performing Primary Dealer banks

After evaluation of each applicant’s performance, State Bank of Pakistan has appointed 11 banks as the Primary Dealers of Government Securities i.e. Market Treasury Bills (MTB) Pakistan Invesment Bonds (PIB) for the financial year 2018-19.     

After the recent appointment, these banks can distribute government securities to Non-Primary Dealers (PD) banks and other retail/institutional clients. In a circular, the State Bank announced the names of following Primary Dealer banks:

• Habib Bank Limited (HBL)
• United Bank Limited (UBL)
• Allied Bank Limited (ABL)
• MCB Bank Limited
• National Bank of Pakistan (NBP)
• Bank Alfalah Limited
• Pak Oman Investment Company Limited
• JS Bank Limited
• Faysal Bank Limited
• Standard Chartered Bank (Pakistan) Limited
• Citibank NA (Pakistan Operations)

Meanwhile, the State Bank has also declared the same HBL, UBL and ABL banks as top three performing Primary Dealers during financial year 2017-18.

The PDs are responsible for playing an active role in secondary market development to enhance liquidity and turnover, and to widen the investor base of Government securities