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, August 7, 2024 – MCB Bank has announced a record-breaking profit before tax (PBT) for the first half of 2024, reaching Rs 62.7 billion, a 16% increase from the previous year.
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Karachi, August 5, 2024 – The Pakistani Rupee experienced a decline of 13 paisas against the US Dollar on Monday, closing at PKR 278.63 compared to PKR 278.50 at the end of last week.
(more…)Karachi, August 4, 2024 – The Pakistani rupee is projected to maintain its stability in the upcoming week, buoyed by optimism surrounding the anticipated approval of a new loan program from the International Monetary Fund (IMF) this month, according to currency dealers.
(more…)Karachi, August 2, 2024 – The Pakistani rupee strengthened on Friday, appreciating by 16 paisas against the US dollar due to a rise in the country’s foreign exchange reserves. The rupee closed at PKR 278.50 per dollar in the interbank market, up from the previous day’s closing of PKR 278.66.
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Karachi, August 1, 2024 – The State Bank of Pakistan (SBP) on Thursday launched a groundbreaking risk coverage scheme aimed at enhancing the financing landscape for Small and Medium Enterprises (SMEs).
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Karachi, August 1, 2024 – The Pakistani rupee staged a comeback against the US dollar on Thursday, recovering after a three-day decline in the interbank foreign exchange market. The rupee gained 8 paisas, settling at PKR 278.66 per dollar, compared to the previous day’s closing of PKR 278.74.
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KARACHI, July 31, 2024 – United Bank Limited (UBL) posted impressive consolidated earnings of Rs12.1 per share for the second quarter of 2024 (2Q2024), marking a 17% year-on-year (YoY) increase, although reflecting a 7% quarter-on-quarter (QoQ) decline. The results were in line with market expectations.
(more…)KARACHI, July 31, 2024 – The Pakistani rupee continued its downward trend for the third consecutive day against the US dollar on Wednesday. The rupee depreciated by 8 paisas, closing at PKR 278.74 to the dollar compared to the previous day’s closing of PKR 278.66 in the interbank foreign exchange market.
(more…)Karachi, July 30, 2024 – The Pakistani Rupee fell for the second consecutive day against the US dollar on Tuesday, pressured by foreign payment demands. The rupee declined by 16 paisas, closing at PKR 278.66 to the dollar, compared to the previous day’s rate of PKR 278.50 in the interbank foreign exchange market.
(more…)Karachi, July 29, 2024 – In a bid to stimulate economic growth while keeping inflation in check, the State Bank of Pakistan (SBP) on Monday announced a 100 basis point reduction in its benchmark policy rate, bringing it down to 19.5%.
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