Karachi, January 31, 2024 – In a remarkable financial achievement, Bank Al Habib Limited announced an impressive growth of 116 percent in its profit after tax for the year 2023.
(more…)Tag: Bank Al Habib
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Bank Al Habib posts 11pc decline in annual profit for CY22
Bank Al Habib Limited (BAHL) has announced 11 per cent fall in after tax profit for calendar year 2022 due to higher provision and tax charges.
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SBP imposes over Rs290 million as penalty on six commercial banks
KARACHI: State Bank of Pakistan (SBP) on Friday imposed over Rs290 million as monetary penalty on six commercial banks for violating regulatory instructions pertaining to Customer Due Diligence (CDD) and Know Your Customer (KYC) during quarter ended September 30, 2022.
The central bank imposed the monetary penalty on commercial banks included: Bank Al Habib Limited; Meezan Bank Limited; National Bank of Pakistan; MCB Bank Limited; JS Bank Limited; and Faysal Bank Limited.
The highest amount of penalty of Rs140.03 million has been imposed on Bank Al Habib Limited for violating regulatory instructions pertaining to CDD/KYC, Asset Quality, Foreign Exchange and general banking operations.
The SBP directed Bank Al Habib Limited that besides payment of monetary penalty it should strengthen its control/process in the identified areas.
The second highest penalty of Rs81.72 million has been imposed on Meezan Bank Limited for the same regulatory violations. The SBP also imposed penalties, included: Rs25.875 million on National Bank of Pakistan; Rs19.223 million on MCB Bank Limited; Rs13.49 million on JS Bank Limited; and Rs10.025 million on Faysal Bank Limited.
The SBP from July 2019 started public disclosure of penal action against banks. “Enforcement actions are an integral part of the regulatory regime which involves imposition of monetary penalties and other actions against institutions and individuals for violations of laws, rules, regulations, guidelines or directives issued by SBP from time to time,” according to a circular issued by the central bank.
In order to bring more transparency and strengthen market discipline, SBP has decided to publicly disclose significant enforcement actions.
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SBP issues IBAN list for donations to PM flood relief fund
State Bank of Pakistan (SBP) has issued a list of IBAN (International Bank Account Number) of Prime Minister Flood Relief Fund 2022 maintained by commercial banks.
READ MORE: SBP opens account for Balochistan Flood Relief, Rehabilitation Fund
Following is the list of banks and IBAN:
01. Allied Bank Limited (ABL), Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK58ABPA001009849790015
02. Albaraka Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK11AIIN0000150583517016
03. Askari Bank Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK82ASCM0000020100579916
04. Bank Alfalah Limited, Title of Account # Prime Minister’s Flood Relief Fund Account-2022, IBAN PK60ALFH0005001007990397
05. Bank Al Habib Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK32BAHL1001186690500301
06. Bank Islami Pakistan Limited, Title of Account # PRIME MINISTER’S FLOOD RELIEF FUND ACCOUNT, 2022, IBAN PK02BKIP0100339720620001
07. Bank of China, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK37BKCH0100002600005375
08. Bank of Khyber, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK66KHYB0001002008277365
09. Bank of Punjab, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK52BPUN6010000181500176
10. Citi Bank, Title of Account PRIME MINISTER’S FLOOD RELIEF FUND, IBAN PK28CITI1000000103660009
11. Dubai Islamic Bank Limited, Title of Account # PRIME MINISTER FLOOD RELIEF FUND 2022, IBAN PK22DUIB0000000807647001
12. Faysal Bank Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK97FAYS3554Z17000001562
13. FINCA Microfinance Bank, Title of Account # PRIME MINISTERS FLOODRELIEF FUND, 2022, IBAN PK25FINC0223183643011000
READ MORE: SBP issues instructions to banks for flood relief donation awareness
14. Habib Metro Bank, Title of Account # PRIME MINISTERS FLOODRELIEF FUND, 2022, IBAN PK58MPBL0101027140665909
15. Habib Bank Limited, Title of Account # PM’s Flood Relief Fund Account, 2022, IBAN PK43HABB000042792244003
16 Habib Bank Limited Microfinance Bank, Title of Account # PRIME MINISTERS FLOODRELIEF FUND, 2022, IBAN PK62FMFB0021012862868015
17. ICBC, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK76ICBK0010000000239638
18. JS Bank, Title of Account # PRIME MINISTER’S FLOOD ACCOUNT 2022, IBAN PK56JSBL9001000002029796
19. Khushhali Microfinance Bank, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK85khbl0000012075443288
20 MCB, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK13MUCB0729483241037873
21. MCB Islamic Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK58MCIB0351004196150001
22. Meezan Bank Limited, Title of Account Prime Minister’s Flood Relief Fund Account, IBAN PK39MEZN0001540107020124
23. National Bank of Pakistan, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK92NBPA0002004181048973
24. NRSP Microfinance Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK60NRSP0000020010002760
25. Samba Bank, Title of Account # PRIME MINISTER’S FLOOD RELIEF FUND, 2022, IBAN PK83SAMB0000002000117199
26. Silk Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK68SAUD0000012010847043
27. Sindh Bank, Title of Account # PRIME MINISTER’S FLOOD RELIEF FUND ACCOUNT,2022, IBAN PK21SIND0003016411713500
28. SME Bank, Title of Account # PRIME MINISTER’s RELIEF FUND, 2022, IBAN PK16SMES1001000664000001
29. Soneri Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK81SONE0000220010110875
30. Standard Chartered Bank, Title of Account Prime Minister’s Flood Relief Fund 2022, IBAN PK75SCBL0000001701259101
31. Summit Bank, Title of Account # PRIME MINISTERS FLOOD RELIEF FUND ACCOUNT -2022, IBAN PK57SUMB0201027140181164
32. U Microfinance Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK26UMBL0107000093500096
33. United Bank Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK86UNIL0109000286613095
READ MORE: Tax exemption granted to donations for PM flood relief fund
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Bank Al Habib’s Seychelles branch license revoked
KARACHI: Bank Al Habib Limited on Friday said that on its request the Central Bank of Seychelles (CBS) revoked the license of its Seychelles branch operation.
In a communication sent to the Pakistan Stock Exchange (PSX), the bank said that to further earlier disclosure made on September 14, 2021, in respect of in-principle approval from State Bank of Pakistan (SBP) in addition to the approval from Central Bank of Seychelles (CBS) for the closure of Bank Al Habib Limited, Seychelles branch operations.
Now, the Central Bank of Seychelles has informed the bank that it had revoked the banking license of the Seychelles Branch Operations after completion of all the compliance requirements by the bank.
“This decision is in line with the bank’s strategy, and it will not have any material impact on the overall operating and financial position of the bank,” it added.
The disclosure material information is in accordance with Section 96 and 131 of Securities Act, 2015 and clause 5.6.1 (a) of the Rule Book of the Pakistan Stock Exchange (PSX).