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MCB earns Rs6 79bn profit in 1st quarter - Newspaper
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The return of Tarin - Newspaper
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BISP to pay six-month installment of Rs12,000
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Risha Mohyeddin
KARACHI: With 20,795 permanent employees, Habib Bank Ltd (HBL) grew its pre-tax profit to Rs53 billion in 2020, up 83.6 per cent from a year ago.
If you find the runaway profitability in a year of economic contraction and pandemic surprising, sit up and read this: only 48 staffers brought in pre-tax earnings of Rs30.7bn. It means just 0.2pc of the employees generated 58pc of the profit-before-tax for Pakistan’s largest commercial bank last year.
The department in which these 48 prized bankers weave their financial spells is called the treasury. Of the nine money-making segments within the bank, the treasury accounted for the biggest bucks and the lowest relative expenses in 2020.
Silkbank has initiated negotiations for a deal with Habib Bank Ltd (HBL), the country’s largest commercial bank, to sell its consumer portfolio. Photo courtesy: HBL website
LAHORE: Silkbank has initiated negotiations for a deal with Habib Bank Ltd (HBL), the country’s largest commercial bank, to sell its consumer portfolio, disclosed a notice sent to the Pakistan Stock Exchange (PSX) on Thursday.
HBL has approached Silkbank with a request for its concurrence to it for applying to the State Bank of Pakistan for permission to proceed with due diligence of its consumer portfolio credit cards, personal installment loans and running finance, the exchange was informed by the company secretary through the notice.