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World

European countries differ over windfall taxes on banks

STOCKHOLM: Some European countries have imposed windfall taxes on banks’ profits to help fund their response to ...

Published 20 Nov, 2023 06:28am

Business & Finance

Cabinet approves levy of 40% tax on banks’ windfall profit earned during 2021-22

The federal cabinet on Wednesday accorded approval to impose 40% tax on windfall profit earned by banks on the...

Published 15 Nov, 2023 10:20pm

Print

Forex deals: Tax on windfall profits of banks likely

ISLAMABAD: The government is likely to invoke provisions of the Finance Act, 2023, to impose tax on windfall...

Updated 15 Nov, 2023 09:49am

Business & Finance

Q3CY23: Listed banks’ profitability up 95pc to record Rs163bn YoY

KARACHI: Pakistani listed banks’ profitability increased to record Rs 163 billion up 95 percent on year-on-year...

Published 01 Nov, 2023 05:57am

Business & Finance

Eurozone banks tighten credit standards further: ECB

FRANKFURT: Eurozone banks tightened lending criteria further in the third quarter as higher interest rates bite, a...

Published 30 Oct, 2023 05:24am

Business & Finance

Cash transactions at BB locations: Biometric verification of accountholders a must: SBP

KARACHI: The State Bank of Pakistan (SBP) has made Biometric Verification (BV) of accountholders mandatory for all...

Published 26 Oct, 2023 06:08am

Pakistan

Relief provided to banking customers

ISLAMABAD: The Banking Mohtasib Pakistan provided monetary relief of an amount of Rs 972.33 million to the banking...

Published 23 Oct, 2023 05:58am

Print

SBP tells Senate panel: DPC set up to protect small bank depositors

ISLAMABAD: The Deposit Protection Corporation (DPC) has been set up through promulgation of the Deposit Protection...

Updated 15 Oct, 2023 09:36am

Print

Opposition of IMF, World Bank: Plan to have direct credit lines from banks, FIs shelved

ISLAMABAD: The Finance Division has reportedly shelved its plan to have direct credit lines from Banks/ Financial...

Updated 03 Oct, 2023 09:15am

Business & Finance

Faysal Bank to set up ‘wholly-owned’ Exchange Company

Becomes 5th commercial bank to make such announcement this month

Updated 28 Sep, 2023 09:33pm

Business & Finance

APSR for FY23 released: Banks, MFBs process e-banking transactions worth Rs167.4trn

KARACHI: Banks and MFBs have processed 2,073.3 million e-banking transactions amounting to Rs. 167.4 trillion in...

Updated 28 Sep, 2023 10:05am

Print

Mid-Year Performance Review: Macroeconomic environment remains challenging: SBP

KARACHI: The State Bank of Pakistan (SBP) on Monday said that the macroeconomic environment remains challenging...

Updated 19 Sep, 2023 09:42am

Print

Banks and FIs: MoF to do away with direct credit lines

ISLAMABAD: The Finance Ministry has reportedly decided to do away with direct credit lines from banks/financial...

Updated 14 Sep, 2023 09:09am

BR Research

Crescent Steel and Allied Products Limited

Crescent Steel and Allied Products Limited (PSX: CSAP) was incorporated in Pakistan as a public limited company in...

Updated 16 Aug, 2023 02:03pm

Editorials

What happens when cash reigns supreme?

EDITORIAL: In the last decade, authorities had supposedly lent focus to expand documentation of the economy. But,...

Published 16 Aug, 2023 05:50am

Print

Aug-Oct auction calendar: Govt plans to borrow Rs11.09trn from banks

KARACHI: The federal government has planned to borrow Rs 11.09 trillion from the domestic banking system during the...

Updated 08 Aug, 2023 09:41am

Opinion

The corruption challenge

The Federal Board of Revenue (FBR) issued regulations granting banks access to asset declarations of high-level...

Updated 04 Aug, 2023 06:43am

Business & Finance

Banks vote to limit accounting of emissions in bond and stock sales

LONDON: Banks working to develop global standards on accounting for carbon emissions in bond or stock sale...

Published 31 Jul, 2023 06:43am

Print

Budgetary support: Govt borrows Rs500bn from banks in 2 weeks: SBP

Says federal government's borrowing for budgetary support rose by 218 percent during the initial two weeks of this fiscal year

Updated 26 Jul, 2023 01:00pm

Business & Finance

Publication on banking sector released: ‘Financial inclusion remains a challenge’

KARACHI: The financial inclusion remains a challenge for Pakistan with lower financial, women and rural inclusion...

Published 15 Jul, 2023 06:08am

Business & Finance

EU agrees tougher rules on banks

BRUSSELS: The EU struck a deal on Tuesday to implement internationally-agreed banking reforms intended to avert a...

Published 28 Jun, 2023 06:31am

Opinion

Unmasking regressive banking

In today’s fast-paced world marked by technological advancements and social progress, the banking industry has...

Published 21 Jun, 2023 06:00am

Business & Finance

Banks to collect duties/taxes on 24th

KARACHI: In order to facilitate the taxpayers in payment of Government duties/taxes, the State Bank of Pakistan has...

Published 20 Jun, 2023 03:16am

Print

WHT deduction, monitoring: 34 banks declared SWAPS agents

ISLAMABAD: The Federal Board of Revenue (FBR) has declared 34 banks as ‘SWAPS’ agents (withholding agents) for the...

Updated 18 Jun, 2023 10:05am

Print

Banks recording WHTs on real-time basis, FBR informs FTO

ISLAMABAD: The Federal Board of Revenue (FBR) has informed the Federal Tax Ombudsman (FTO) that all bank branches...

Updated 18 Jun, 2023 10:09am

Print

Additional advances to IT ITeS: 20pc concessionary tax rate on banks’ income proposed

KARACHI: The federal government has proposed concessionary tax rate for banks income from additional advances to...

Updated 10 Jun, 2023 08:51am

Print

Banks disburse Rs1.222trn agri credit

KARACHI: With 27.5 percent growth, the agriculture lending financial institutions have disbursed Rs 1.222 trillion...

Updated 09 Jun, 2023 08:57am

Business & Finance

SBP for submission of FCY cross- border payments/ transfer cases

KARACHI: The State Bank of Pakistan (SBP) has asked for submission of FCY Cross Border Payments Cases through SBP...

Published 07 Jun, 2023 06:05am

Print

IPSs settlement: Banks can buy dollars from interbank market: SBP

KARACHI: The State Bank of Pakistan (SBP) Wednesday allowed banks to purchase US dollars from interbank for...

Updated 01 Jun, 2023 09:04am

Print

Budget proposals by PBA: FBR urged to gradually reduce tax rate for banks

KARACHI: Pakistan Banks Association (PBA), demanding a level playing field, has proposed to the Federal Board of...

Updated 26 May, 2023 08:52am