Money and banking drive economic activity by facilitating transactions, savings, and investments. Banks manage financial resources, offer credit, and regulate money supply, ensuring stability and growth in Pakistan’s financial sector.
Karachi, February 26, 2024 – The US Dollar witnessed a decline against the Pakistani Rupee (PKR) by 0.16 at the interbank closing on Monday, attributed to recent relaxations granted to exporters in the utilization of foreign exchange.
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Karachi, February 26, 2024 – United Bank Limited (UBL) is optimistic about a favorable outcome regarding the penalty of Rs 4.09 billion imposed by the State Bank of Pakistan (SBP), as disclosed in its annual financial statement for the calendar year 2023.
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Karachi, February 25, 2024 – The banking sector in Pakistan has witnessed a remarkable surge, with financial institutions reporting an impressive 83% growth in profit after tax for the calendar year 2023, thanks to the record high interest rates prevailing in the country.
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Karachi, February 25, 2024 – Anticipated to remain steady, the Pakistani Rupee (PKR) is poised for stability in the upcoming week commencing February 26, 2024.
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Karachi, February 23, 2024 – Standard Chartered Bank (Pakistan) Limited (SCBL) has reported an extraordinary 115 percent surge in net profit for the calendar year 2023, according to its financial statement for the year ending December 31, 2023.
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Karachi, February 23, 2024 – The State Bank of Pakistan (SBP) announced on Friday a significant move to facilitate exporters by liberalizing the utilization of foreign currency under its ease of doing business initiatives.
(more…)Karachi, February 23, 2024 – The Pakistani Rupee (PKR) experienced a decline against the US dollar on Friday, slipping by PKR 0.03 in the interbank foreign exchange market.
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Karachi, February 23, 2024 – In a remarkable financial performance, Habib Bank Limited (HBL) has reported an impressive 84 percent growth in its annual profit for the calendar year 2023.
(more…)Karachi, February 22, 2024 – In a welcome development for the Pakistani economy, the Pakistani Rupee (PKR) gained ground against the US dollar on Thursday, marking a rise of PKR 0.17.
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Karachi, February 22, 2024 – The National Bank of Pakistan (NBP) has reported an impressive 70 percent growth in profit after tax for the calendar year 2023.
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