banks Archives - Page 2 of 4

Aurangzeb Urges Banks to Allocate Funds for Agriculture and IT

July 30, 2024July 30, 2024Mrs. Anjum Shahnawaz

Karachi, July 30, 2024 – Federal Minister for Finance and Revenue, Muhammad Aurangzeb, on Tuesday, emphasized the importance of proper fund allocation for the agriculture sector and the IT industry, especially freelancers.

Pakistani Banks Report 21% Jump in Profits for 1Q2024

May 2, 2024May 2, 2024Faisal Shahnawaz

Karachi, May 2, 2024 – Pakistani listed banks have seen a significant increase in profitability in the first quarter of 2024, with a reported gain of 21 percent year-on-year (YoY), reaching a total of Rs 152 billion.

Pakistan Banks Enjoy 83% Profit Growth Amid High Interest Rates

February 25, 2024February 25, 2024Shahnawaz Akhter

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.

Banks May Seek Legal Remedy Against Newly Imposed Windfall Tax

November 23, 2023November 23, 2023Shahnawaz Akhter

Karachi, November 23, 2023 – Banks in Pakistan likely to seek legal remedies in response to the recent imposition of a tax on windfall income or profit.

FBR Issues Notification on Windfall Tax Computation for Banks

November 22, 2023November 22, 2023Shahnawaz Akhter

Islamabad, November 22, 2023 – The Federal Board of Revenue (FBR) has issued a crucial notification on Wednesday, outlining the process for the computation of windfall tax on banks.

Banks to Contribute Rs 58 Billion in Windfall Tax Boosting Government Revenue

November 16, 2023November 16, 2023Shahnawaz Akhter

Karachi, November 16, 2023 – Banks in Pakistan are set to pay an additional Rs 58 billion in income tax following the federal cabinet’s approval of a 40 percent tax on windfall profits derived from foreign exchange transactions in 2021 and 2022.

Pakistan Banks Witness Remarkable 95% Profit Growth in Third Quarter of 2023

October 30, 2023October 30, 2023Shahnawaz Akhter

Karachi, October 30, 2023 – Pakistan banks have experienced an astounding 95 percent growth in profit on a year-on-year (YoY) basis during the third quarter of 2023.

Bank of Future Forum 2023 Attracts Huge Audience

October 10, 2023February 5, 2024Faisal Shahnawaz

Karachi, October 10, 2023: The Bank of Future Forum (BOFF) 2023, co-hosted by Systems Limited and Temenos, proved to be a success, drawing an extensive audience of over 500 attendees.

Bank of the Future Forum 2023 Kicks Off on October 5

October 3, 2023October 3, 2023Faisal Shahnawaz

Karachi, Pakistan – October 3, 2023 – The highly anticipated Bank of the Future Forum 2023 (BOFF), a prominent event in Pakistan’s banking and financial sector, is poised to kick off on October 5, 2023.

Pakistani Banks Raise Lending Cost to Record High at 24.62%

September 8, 2023September 8, 2023Shahnawaz Akhter

Karachi, September 8, 2023 – Analysts have reported that Pakistani banks have raised lending costs to a record high of 24.62 percent, indicating potential actions by the central bank to increase its benchmark policy rate to an all-time high in the near future.

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