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Six-month KIBOR surges to 16-month high thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
New ADR limits likely to hit deposit mobilisation - Newspaper dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
The number of cars sold soared by a massive 114% to 24,918 units due to decline in mark-up rate for auto financing coupled with a reduction in car prices. ....
July 30, 2021 KARACHI: Habib Bank Limited (HBL) net profit increased 18.7 percent to Rs18.029 billion for the half-year ended June 30, 2021, translating into earnings per share (EPS) of Rs12.04, a bourse filing said on Thursday. The bank earned Rs15.18 billion profit with EPS of Rs10.32 during the half year ended June 30, 2020. An interim cash dividend of Rs1.75/share was announce, that took 1H2021 cumulative dividend to Rs3.5/share. Analyst Umair Naseer of Topline Securities in his note said, “Earnings of the bank came in higher than industry expectations driven by better than expected provisioning charge and improve fee income.” Net interest income of the bank went up 2.8 percent to Rs64.864 billion in the 1H2021, from Rs63.075 billion in the same period last year. However, it declined 7.6 percent to Rs32.394 billion in Q2, from Rs35.061 billion in the same quarter last year. This was in line with estimates, as SBP had reduced policy rate. ....
Banking deposits grow 22 percent in FY2021 July 14, 2021 KARACHI: Pakistan’s banking sector recorded over a decade high growth rate of 22 percent in deposits during the last fiscal year of 2020/21 due to rise in remittances and growing use of online financial transactions, a brokerage reported on Tuesday. According to Topline Research, banking deposits recorded the highest growth in 14 years to reach Rs19.8 trillion as of June-2021. “Growth in deposits has been fueled by higher remittances, while business activity (cash-based) too was hindered due to COVID-19 resulting in an increase in banking deposits,” said analyst Umair Naseer at Topline Research. “Going forward, we expect average deposit growth of 15 percent over 2021-23 compared to last 10-year average growth of 13 percent.” ....