HBL Q1 2022 Profit rises to Rs. 14.6 billion driven by strong business volumes
HBL today declared a consolidated profit before tax of Rs. 14.6 billion for the first quarter of 2022 and a profit after tax of Rs. 8.6 billion, both higher than in the same period last year. The Q1’22 results include a one-time severance charge of Rs. 2.6 billion. Excluding the impact of this one-time charge,…
Adil Aziz
MMBL partners with BaKhabar Kissan to foster a smart digital ecosystem for its growing Agri-customers across Pakistan
Pakistan’s largest digital bank, Mobilink Microfinance Bank Ltd (MMBL) has partnered with BaKhabar Kissan (BKK), a leading agri-tech enterprise that provides advisory services to small and medium farmers across the country. Through this strategic alliance, smart digital financial and agri-tech solutions will be offered to MMBL’s growing base of agri-customers to help farmers identify, assess…
Bank AL Habib declares Rs. 4.96 billion profit after tax
The Board of Directors of Bank AL Habib Limited (the Bank) announced the Bank’s financial results for the period ended 31 March 2022. The Bank posted profit after taxation of Rs. 4.96 billion i.e. an increase of 7.88 percent compared to corresponding period last year. The Bank’s profit before tax was recorded at Rs.8.18 billion,…
SECP announces third cohort under its Regulatory Sandbox
The Securities and Exchange Commission of Pakistan (SECP) has announced the launch of third cohort of its Regulatory Sandbox. The deadline for applications submission is May 31, 2022. The Regulatory Sandbox – now successfully entering its third edition – is a tailored regulatory environment that allows entities to conduct limited scale live tests of innovative…
MMBL collaborates with IWCCI to promote access to Digital Financial Solutions for Women Micro-entrepreneurs
Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has signed a Memorandum of Understanding (MoU) with the Islamabad Women Chamber of Commerce & Industry (IWCCI) to promote and strengthen access to Digital Financial Solutions (DFS) for women borrowers and micro-entrepreneurs. Promotion of financial inclusion is one of the core pillars at MMBL whereby the…
Faysal Bank & TPL Life Insurance Join Hands to Offer Women Takaful Coverage
With this signing, Faysal Bank Limited & TPL Life Insurance (Window Takaful Operations) have taken a step towards further strengthening their existing partnership and introduced a Women specific Takaful coverage proposition for Faysal Islami Amal Women’s Account holders which is best in class across the industry. Under this plan, women will get coverage for major…
Bank Alfalah and Jubilee Life Insurance Partner to Offer Digital Insurance for Customers
Bank Alfalah, one of Pakistan’s leading financial institutions has joined hands with Jubilee general insurance, the country’s premier insurance solution provider to form a strategic alliance that will enable a digitized pathway for customers to avail insurance through AlfaMall. With customers rapidly moving towards digital platforms, this partnership will facilitate users and their ability to…
Banking Mohtasib Provides Relief of Rs 224.83 million to Banking Customers
The Banking Mohtasib Pakistan has provided monetary relief amounting to Rs 224.83 million to the banking customers by disposing of 6,563 complaints against commercial banks during the first quarter (January to March, 2022) of the current calendar year. The Banking Mohtasib has received 8,845 new complaints, including 4,614 from Prime Minister’s Portal from 1st January…
Pakistan’s Political Volatility Adds to External Financing Risk: Fitch Report
The recent government change in Pakistan has been peaceful, but raises near-term policy uncertainty even as the country faces external and fiscal challenges from rising commodity prices and an increase in global risk aversion, says Fitch Ratings. The authorities’ policy agenda remains central to Pakistan’s ability to refinance its external debt over the medium term,…
PSX Eases Eligibility Requirements for Investors of GEM Board Companies
Pakistan Stock Exchange (PSX), with the approval of the Securities and Exchange Commission of Pakistan, has significantly eased the requirements for eligibility of accredited individual investors investing in companies on the GEM Board. As per the new definition, accredited investors include those individual investors who have assets of atleast Rs 5 million which include but…