KARACHI: National Bank of Pakistan on Wednesday announced profit-after-tax (PAT) for 1QCY21 at Rs7.8 billion (earnings per share at Rs3.67), depicting a whopping year-on-year increase of 90 per cent.
Net interest income (NII) growth for the bank has been impressive on a year-on-year basis but portrayed a sluggish behaviour on a quarter-on-quarter basis.
However, despite massive growth in profit the bank did not announce any dividend.
BAHL earns Rs4.6bn
Bank Al Habib Ltd (BAHL) on Wednesday announced PAT at Rs4.6bn (EPS at Rs4.14) for 1QCY21, down 2pc quarter-on-quarter basis.
The earnings are above market expectations, where variance has mainly come from higher than expected net interest income, provision reversals, and lower effective tax rate.
Business
February 16, 2021
KARACHI: Sapphire Textile Mills and Britain-based Carrington Textiles have formed a joint venture in Pakistan – Carrington Textiles International, with new textile dyeing and finishing operations in Lahore that would provide up to 20 million meters a year of dyed and white fabric., it said on Monday
“Sapphire Textile Mills has agreed to form a Joint Venture (JV) with Carrington Textiles, a British company. Both the companies will combine their strength in manufacturing, marketing and research and development to bring value to the customers. The JV will be formed in United Kingdom,” a bourse filing said.
Carrington Textiles noted in a statement that a new production facility, now in operation, had some of the most modern European dyeing and finishing plant and machinery, which would further enhance the capabilities of the JV.
Carrington secures JV in Asia, announces growth in Europe
New venture with Sapphire Textile Mills will increase company’s capacity to 130m square metres per year. Series of investments planned for production facilities in Europe.
15th February 2021
Carrington Textiles and Sapphire Textile Mills have announced a joint venture in Pakistan under the name of Carrington Textiles International, with new textile dyeing and finishing operations that will provide up to 20 million metres per year of dyed and white fabric to Carrington’s global customer base.
The new partnership between the two textile giants has been developed after a solid relationship of more than 20 years and offers customers the widest range of woven workwear fabrics, including cotton rich, polyester/cotton, stretch and new sustainable fabrics, all manufactured to the highest industrially launderable standards, Carrington reports.