Nov 6

President rejects Soneri Bank’s appeal in fraud case

ISLAMABAD: President Dr. Arif Alvi has rejected an appeal filed by Soneri Bank Limited against an order made by Banking Mohtasib. The President ordered the bank to pay the amount to complainant in fraud case, a statement said on Saturday. According to the details, President Dr. Arif Alvi has rejected the representation, filed by the […]

by Mrs. Anjum Shahnawaz

Assets of baking system increase by 7.8pc amid COVID challenges: SBP

Nov 11

Money & Banking

Assets of baking system increase by 7.8pc amid COVID challenges: SBP

KARACHI: The assets of banking system increased by 7.8 percent during first half (January – June) 2020 despite challenging economic conditions prevailing during the period due to COVID-19 outbreak, State Bank of Pakistan (SBP) said on Wednesday. The SBP issued Mid-Year Performance Review (MPR) of the Banking Sector for the year 2020. The review comprehensively […]

by Mrs. Anjum Shahnawaz

Finance Bill 2019: Banks to pay 37.5pc tax on profit from investment in govt securities

Jun 13

2019-2020, Budget, Money & Banking

Finance Bill 2019: Banks to pay 37.5pc tax on profit from investment in govt securities

ISLAMABAD: Banks shall pay 37.5 percent income tax on profit from investment in government securities, according to proposals made through Finance Bill, 2019. The Federal Board of Revenue (FBR) in explanation to the Finance Bill, 2019 said that banks are earning substantial profits on account of incremental exposure to government securities. Therefore profit from such […]

by Faisal Shahnawaz

Banking sector profits decline by 7 percent in 2018

Mar 6

Money & Banking

Banking sector profits decline by 7 percent in 2018

KARACHI: The profits of banking sector have declined by 7 percent to Rs149 billion in 2018 as compared with around Rs160 billion in the preceding year, according to analysis of Topline Research issued on Tuesday. The analysts said that for 2018, despite 10 percent YoY increase in Net Interest Income (NII), profits were down 7 […]

by Faisal Shahnawaz

KSE-100 gains 169 points on activities in E&P sector

Jan 10

Stock & Commodity

KSE-100 gains 169 points on activities in E&P sector

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed with a gain of 169 points on Thursday, largely driven by increased activity in the exploration and production (E&P) sector.

by Mrs. Anjum Shahnawaz