A.F.Ferguson & Co, an affiliate of PriceWaterCoopoers, has successfully secured a contract from National Bank of Pakistan for Business Processes Review (BPR Services) and COSO Implementation. Both Giants of their respective industries signed an agreement at National Bank’s head office.
The NBP President Dr Asif A Brohi said, “NBP is committed to achieve the leadership position in the industry by adopting international best practices and ensuring consistent compliance with regulatory requirements”.
“NBP believes in business growth and excellence through robust infrastructure, technology and operational support aimed at improving internal and external customer satisfaction,” he said in a statement.
Dr Brohi said, “The project is aimed at incorporating the operating model into NBP’s business processes and core systems and achieve operational effectiveness and efficiency”.
“Implementing the project will eventually provide a platform for achievement of the bank’s strategic objectives through a phased process of institutional capacity building,” he added.
MCB Bank (MCB) is in the process to open around 30 more branches across the country apart from planning to launch branches outside Pakistan. This was stated by MCB’s Department Head-Financial Reporting, Tax and Investor Relations Hammad Khalid while giving a presentation about financial performance and future plans of the company in the corporate briefing programme of the Lahore Stock Exchange (LSE) here on Monday.
The representatives of MCB Bank (MCB) – Head of Corporate Communications and Marketing Mubashar Bashir, Company Secretary Abdus Sami and Department Head – Financial Reporting Tax and Investor Relations Hammad Khalid visited the LSE to participate in the corporate briefing programme, an interactive programme initiated by the LSE under the Corporate Communications Department to encourage companies to come forward and share their financials and non-financial projects before the members, TREC holders, investors and the media to abridge the communication gap between the listed companies and the market participants through this platform.
Hammad Khalid stated that the MCB was in process to introduce approximately 30 more branches across Pakistan. He also shared that the MCB in the days to come had a number of products and services to introduce in the market as that was the company’s major focus. Sharing the future projects of MCB, he said the MCB planned to launch branches outside Pakistan.
Abdus Sami Company, Secretary MCB, said on the occasion that banking industry was improving. He said the industry possessed great potential to bring change in the nature of banking procedures such as the mobile banking that had so far changed the nature of conducting transactions. “There is a lot more that is yet to be discovered within this new concept of banking,” he added.
Managing Director LSE Aftab Ahmad Chaudhary said on the occasion that “the purpose of the Corporate Briefing Programme of the LSE is to provide a platform to our listed companies whereby such companies can periodically visit the stock exchange and share the latest corporate information with the stakeholders such as the brokers and the investors alike.”
He said that since the market price of any company was a function of the financial and strategic information available in the market, therefore, the LSE considered it essential for the companies to participate in such programmes so that there was no information asymmetry regarding our listed companies.
It may be noted that Corporate Briefing Programme (CBP) of the LSE aims at bridging the gap between the listed companies and investor’s community and providing them with an opportunity to share company’s first hand information. The basic goal of the Corporate Briefing Programme is to enhance investor’s understanding of financial statements, company’s short term and long-term projects. CBP is an opportunity for investors to better understand the economic/financial affairs of a company which might affect company’s share price and ultimately impact their investments as well as investment decisions. The LSE under this initiative will be conducting regular programmes for different listed companies.
One of the Premier Islamic Bank - Meezan Bank Ltd has recorded a modest 9 per cent growth in its profits of 1st quarter ended 31st March 2013 which increased to Rs 98 Crore compared to Rs. 90 Crore earned in the corresponding period of 2012.
The Earnings per Share of the Bank increased to Rs. 0.98 (March 2012: Rs.0.90) on the enhanced share capital of Rs. 10 billion. Deposits of the Bank grew to Rs. 235b as at March 31, 2013 (Dec 2012: Rs 230b). The Board of Directors of Meezan Bank approved the financial statements of the Bank for the quarter ended March 31, 2013.
H. E. Sheikh Ebrahim Bin Khalifa Al-Khalifa, Chairman of the Board presided the meeting that was also attended by Abdullateef A. Al-Asfour, (Vice Chairman) and other Directors.
The increase in profit has been achieved despite the monetary easing of 400 basis points by the State Bank of Pakistan during the last eighteen months.The Bank’s share capital increased to Rs. 10 billion with the issuance of 11% bonus shares approved by the shareholders in the Bank’s 17th Annual General Meeting held on March 28, 2013.
Accordingly, Meezan Bank has met SBP minimum capital of Rs. 10 billion required to be completed by December 2013, a year in advance.
The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has maintained the Bank’s long-term entity rating at AA- (Double A Minus) and short term rating at A1+ (A One Plus) with stable outlook. The short-term rating of A1+ is the highest standard in short-term rating. The rating indicates sound performance indicators of the Bank.
“The investments related to the promotion and expansion of new businesses including launch of new Islamic Banking branches in the first quarter and the impact of the discount rate cuts last year, resulted in the Bank posting a loss of Rs 22 Crore for the first quarter of 2013″, said a message issued by Silk Bank after its disappointing financial results.
Board of Directors of Silkbank Limited announced the quarterly results of the Bank for the quarter-ended March 31, 2013, showing growth in deposits and revenues, showing signs of hopes by the end of this year.
The Bank significantly improved the deposit mix, through increase in low-cost current and saving accounts. The Bank had made strategic investments in new business lines, credit card and Islamic banking business, last year, which was received positively by the market, according to the press release issued.
Board of Silk Bank is hopeful from the revenue pipeline from new businesses and the existing product portfolio. According to them – Silk Bank is well positioned to increase revenues and declare profits for the full year 2013.
The Board has set a clear strategy for 2013, after fresh capital injection of Rs 220 Crore at the end of March 2013. This will enable the Bank to expand its branch network to support the continued reduction in cost of funds.
In addition the Bank will continue to make its cost base increasingly efficient through greater synergies, process re-engineering while rigorously growing its new business initiatives and ensuring the future robustness of the existing businesses as well.
Despite the challenging operating environment, MCB Bank manages to post the highest ever quarterly profit in its corporate history of Rs 867 Crore and declared cash dividend of Rs 3.5 for the first quarter ended March 31, 2013.
Board of Directors of MCB Bank met under the chairmanship of Mian Mohammad Mansha to review the performance of the Bank for the quarter ended March 31, 2013.
The Bank in contrast with the industry results, posted an increase of 2 percent and 4 percent in profit before tax and profit after tax respectively. Net markup income of the Bank was reported at Rs 972 Crore whereas non-markup income was reported at Rs 235 Crore.
Administrative expenses (before pension fund reversal) of Rs 433 crore witnessed a decrease of 2 percent over the corresponding period last year. Due to strengthened risk management framework and policies adopted by the Bank, a reversal in provisioning charge of Rs 84 Crore was reported for the quarter ended March 31, 2013 as compared to a provision charge of Rs 7.5 Crore for corresponding period last year.
MCB Bank’s earnings per share (EPS) for the period under review came to Rs 5.70 compared to Rs 5.51 for March 31, 2012. Return on assets improved to 3.02 percent whereas return on equity was recorded at 25.51 percent with book value per share improving to Rs 90.95.
The Bank’s total asset base was reported at Rs 759.116 billion, which decreased by 1 percent over Rs 767.075 billion as of December 31, 2012. Net investments increased by Rs 664 million to Rs 402.733 billion. Gross advances were reported at Rs 262.360 billion while the infection ratio of the Bank further improved to 9.41 percent (Dec 2012:9.74 percent).
On the deposit front, the Bank continued with its strategy of shifting its base to low cost current and saving accounts, each growing by 5 percent over December 31, 2012 and taking the total CASA base to an all-time high of 86 percent.
Convergent with the declining interest rate scenario, the decrease in high cost fixed deposits can be marked over a series of quarters, with a 4 percent decline in the quarter ended March 31, 2013.
Habib Bank Limited (HBL), one of the largest Pakistani bank, entered into a strategic alliance with Chevron Pakistan Limited during a ceremony held at the HBL Head Office in Karachi. As per the agreement, HBL would provide ATM facility to customers at selected Chevron fuel stations countrywide.
The agreement was signed by HBL President and CEO, Nauman Dar and Chevron Pakistan Limited Country Representative, Nadeem Jafarey. Also present on the occasion were Head – Payment Services HBL, Faiq Sadiq, and the Chevron team comprising of Hussan ul Muaab, Brand & Alliances Specialist , Hassan Zaidi, Sales Manager Retail C&I – North and Shahzad Rizvi, Sales Manager Retail C&I – South.
Speaking at the occasion, Nauman Dar, President and CEO HBL, said, “HBL will continue to strengthen its ATM facility and position as the industry leader with the largest ATM network in Pakistan. This agreement is part of our commitment to provide convenient banking services to our customers.”
Nadeem Jafarey, Country Representative, Chevron Pakistan Limited added, “Through this partnership we will provide a channel for HBL to extend its ATM network, thus translating in to multiple benefits to customers.
“Faiq Sadiq, Head – Payment Services HBL, explained to guests that this initiative will allow HBL to provide round-the-clock services to customers enabling them to perform cash withdrawals, transfer funds and pay utility bills at their convenience.
Habib Bank Limited recently signed an agreement with Daewoo Pakistan Express Bus Service, the first and largest foreign investment company with an advanced and organised transport system in Pakistan, to provide state-of-the-art electronic cash management solutions.
The agreement was signed by Mr. Faiq Sadiq, Head – Payment Services HBL and Mr. Faisal Siddiqui, Director – Investment Planning Daewoo Express Bus Service Ltd.
Under the agreement, Habib Bank will provide electronic and alternate delivery channels to Daewoo Pakistan including Cash-in-Transit (CIT) management, pan-Pakistan ATM deployment and other electronic banking services. Also, as part of the agreement, HBL recently installed 12 ATMs at Daewoo terminals, with 10 more ATMs to be installed over the next few months.
ddressing the occasion, Faiq Sadiq, Head, Payment Services said “HBL has always been at the forefront in delivering and meeting the demands of customers. This agreement is a beginning of a strategic relationship with Daewoo which will bring innovative solutions that meet the banking needs of our customers.”
Habib Bank Limited last night got the branchless banking license for the commercial launch of its operations across Pakistan, we have confirmed with sources.
After this approval from State Bank of Pakistan, according to our sources, HBL is likely to commercially launch the service with-in two weeks.
State Bank of Pakistan granted license of HBL after it successfully carried out mobile financial services during its pilot duration. HBL had soft launched the service, as a pilot, in September last year.
Sources privy to the matter tell ProPakistani, a sister concern publication of EconomyAge, that Habib Bank will launch branchless banking with local remittances and utility bill payments initially, while wallets accounts, government to persons transaction, tax collection, loan payments, insurance and more services will be added to the portfolio in coming months.
While we don’t have exact details of the service charges for HBL branchless banking but it is said that charges will be competitive.
Habib Bank will launch branchless banking with hubs and franchises across Pakistan. These hubs will control franchises and outlets in the regions.
Habib Bank will become second bank lead branchless banking solution after UBL’s omni and fifth branchless banking service provider in the country.
Habib Bank’s mobile financial services are built on technology provided by Sybase 365 while the deployment was administered by Abacus Consulting.
Pakistan’s premier branchless banking service, Easypaisa has launched Khushaal Munafa, the first savings product on a branchless banking platform offering monetary returns to its Easypaisa Mobile Account customers.
The launch of Khushaal Munafa is yet another important step towards the financial inclusion of rural and semi-urban Pakistanis, many of whom have no choice today but to save their funds in informal savings.
Khushaal Munafa offers Easypaisa Mobile Account customers a profit of up to 9% on saving Rs. 2,000 or more in their Mobile Accounts.
The profit offered by Khushaal Munafa is also unique in the sense that it is calculated on a daily basis and the profit is transferred in the mobile accounts at the end of each month. Khushaal Munafa is available to both existing and new Mobile Account customers.
Speaking on the occasion, Roar Bjaerum, Chief Financial Services Officer at Telenor Pakistan said,
“Savings are an integral part of financial inclusion and Khushaal Munafa will allow Easypaisa Mobile Account customers to absorb fluctuations in daily income and financial shocks. This product will focus on micro savings, reducing vulnerability of low income families to unexpected events and promote savings as a way to increase their opportunities to grow and improve quality of lives.”
Nadeem Hussain, CEO and President, Tameer Micro Finance Bank limited said: “Khushaal Munafa will help create a financial ecosystem for the bottom of the pyramid and empower them with the basic rights to avail services that provide an affordable and convenient method of integration into the world of financial services.”
Allied Bank has once again received the honourable Shaukat Khanum Social Responsibility Award from the SKMCH & RC. The event, held inside the hospital premises, is organized annually to appreciate and recognize the support various organizations have provided during the year 2012.
Picture shows Khawaja Mohammad Almas, Chief CRBG, Allied Bank is seen receiving the award from the Chief Guest on the occasion, Mian Muhammad Mansha, Chairman, MCB Bank and Nishat Group while Mr.Faisal Sultan, CEO, SKCMH, looks on.
Chief Executive SKMT, Dr. Faisal Sultan appreciated the continuous support provided by Allied Bank in the recent years. Allied Bank has received this award for the second time in two years, for the organizations support in 2011 and 2012 .
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