One of the Big four Giant in Banking fraternity – Habib Bank Limited (HBL) released its profit statement for the 2012 on Tuesday, posting a net profit of PKR 2,226 Crore, representing a modest growth from PKR 2,219 Crore in last year.
Habib Bank has also announced a final dividend of Rs4 per share, bringing the full-year payout to Rs7.5 per share (75%). It has also announced a 10% bonus issue.
According to the published results, Habib Bank’s net interest income (NII) grew by a modest 2% over the previous year, with an expansion in its asset base offsetting the effect of a contraction in net interest margins following the State Bank’s monetary policy of reducing interest rates.
Bad Year for Currency Trading
Habib bank’s non-interest income grew by 8% while non-interest expenses grew by 7%. The bank’s non-interest income showed overall signs of improvement from the preceding year, except for its trade in foreign currencies, where profits were 32% lower than last year.
Meanwhile, Provisions’ account witnessed a minor 2 percent decline this year.
Growth in Assets
Habib Bank recorded an impressive growth in deposits, which stood atPKR 1.041 trillion on December 31, 2012 , as against PKR 791 billion in the previous year.
The 32% growth in domestic deposits was much above the industry’s 11% growth rate, says a press release issued by the bank.
Allied Bank Limited is set to open its branch at the luxurious mega mall, The Centaurus Mall.
An agreement in this regard signed in a meeting held at the office of Pak Gulf.
President of Pak Gulf Sardar Tanvir Ilyas welcomed the move from the leading bank to open its branch at the Mall and said that this decision would prove beneficial not only for both also for the customers who will be visiting the facility. He also said it’s a good sign that Pakistani Banks are competing International Banks and banks can play important role in economic growth
Chief Retail and Commercial Banking, ABL, Khwaja Almas was also said on this occasion it was very appreciative of the mega project.
He informed the Pak Gulf President about various operations of the bank, its services and growing network worldwide.
As we hinted almost an year ago, Warid and Bank Alfalah today announced the launch of pilot testing for its branchless banking solution.
A statement issued by both Warid Telecom and Bank Alfalah – both owned and operated by the Abu Dhabi Group – has said that they have joined hands for their upcoming branchless banking services in Pakistan.
The technological support for this collaboration is being provided by Monet — another Abu Dhabi Group backed mobile-commerce service provider — and the pilot testing launch is currently underway as approved by the State Bank of Pakistan.
Both, Warid Telecom and Bank Alfalah, have been working extensively to develop a branchless ecosystem which will offer a range of customized products and services tailored to suit the evolving needs of various stakeholders including consumers, institutions, SMEs and the government.
Warid and Bank Alfalah have announced the commencement of their pilot for branchless banking at a time when Telenor’s Easypaisa, UBL’s Omni Mobilink’s MobiCash and Zong’s Timepay are already operating commercially in branchless banking domains.
‘We are pleased that both companies have been working in conjunction to successfully execute our shared outlook on introducing our branchless banking services.
Once launched in the market, we are optimistic that both telecom and banking customers will benefit hugely from the enhanced access and convenience provided by this innovative offering.
We will continue to explore joint efforts in order to provide innovative, technology driven value-additional propositions that increase access to financial services and hence reduce the gap between the ‘banked’ and ‘yet-to-be-banked’ in Pakistan,’ said Atif Bajwa, CEO Bank Alfalah.
Muneer Farooqui, CEO Warid Telecom while commenting on the occasion said
“The future of the telecom industry in Pakistan lies in providing technological solutions that cater to a wide range of customer requirements which are not necessarily linked to communication only.
The synergistic relationship between Warid Telecom and Bank Alfalah is a natural fit and the launch of Mobile Financial Services is another step in the right direction, where we look forward to using our collective resources and experience to provide further convenience to the Pakistani consumer.”
Bank Alfalah operates through a network of 471 branches across 163 cities in Pakistan in order to provide consumers, corporations, institutions and governments with a broad spectrum of financial products and services, including corporate and investment banking, consumer banking and credit, securities brokerage, commercial, agricultural, Islamic and asset financing.
While Warid Telecom reaches over 7,000 destinations across Pakistan. It claims to have the largest post-paid base along with other various segments.
Habib Bank Limited (HBL), Pakistan’s largest bank, has initiated acquiring of international UnionPay cards for usage on its ATM network.
The development was jointly announced by China UnionPay Chairman Su Ning and HBL President and CEO Nauman K Dar at a ceremony held at HBL Plaza in Karachi.
Speaking on the occasion Dar said: “HBL continually strives towards providing innovative financial solutions. This alliance ties in with our mission to create strong value for our customers”
HBL boasts Pakistan’s largest branch and ATM networks.
UnionPay International has about 400 domestic and overseas associate members. It has acceptance in 135 countries; with over 3.4 billion cards issued globally.
UnionPay is one of the largest payment technology companies in the world. In November 2012, HBL joined the advisory board of UnionPay International as a founder member. The bank views the launch of UnionPay cards as a significant step towards growing the payment services segment in Pakistan.
Addressing the media, Su Ning deeply appreciated HBL’s efforts and said: “This alliance will positively reinforce Pak-China trade relationship and facilitate Pakistan’s payment industry immensely.”
Meezan Bank entered into an agreement with Mashreq Bank PSC, UAE ,where Meezan Bank will earn Shariah-compliant profit on its US dollar clearing account balance held with Mashreq Bank. The innovative arrangement utilises a Shariah-compliant principle of Wakala.
Aimed at facilitating the growing market of Islamic financial institutions, this innovative product was initially developed to cater to Meezan Bank’s requirement of earning Shariah-compliant profits on its US dollar clearing account.
This product was developed and launched by Mashreq Bank in a record time and was later commercialised and made available to clients globally across Mashreq’s network. The product is approved by the Shariah divisions of both Banks.
Speaking to the occasion, Ariful Islam, Chief Operating Officer of Meezan Bank, commented: “The US Dollar Islamic arrangement with Mashreq Bank will prove to be a significant positive development in our attempts to provide the best clearing arrangements to our clients worldwide while ensuring that our ultimate objective of Shariah-compliance is achieved at the same time.”
Faisal Lalani, Head of Financial Institutions Division at Mashreq Bank, said: ‘I sincerely thank Ariful Islam for enabling the development and finalisation of this product. Mashreq Bank has benefited greatly by incorporating this product into our list of product offerings, which we will now propose to our other clients as well”.
Mashreq Bank is one of UAE’s leading and highest performing banks in the region. The Bank operates with 12 overseas offices in nine countries, including Europe, US, Asia and Africa.
Standard Chartered Bank unveils a new bounty for its customer as a new year gift. According to its website, Standard Chartered Pakistan is going to distribute a total in 12 iPad Mini in the month of January with 3 every week to lucky customers.
Process of Registering Yourself into the Competition
All you need to do is to Log onto ’Online Banking’ and perform any of the following transactions to enter into Lucky Draw:
- Pay Utility Bills
- Purchase Prepaid Mobile Vouchers
- Transfer funds to any account within Standard Chartered Bank Pakistan Limited
- Inter Bank funds transfer
- Pay Standard Chartered Bank’s Credit Card bills
There are certain terms and conditions applied to this promo.
(a.) All Customers of Standard Chartered Bank (Pakistan) Limited (“SCBPL”) complete any one of the following transactions via Online Banking to enter into the lucky draw;
- Funds transfer
- Inter Bank Funds Transfer
- Pay utility bills
- Pay credit card bills
- Purchase prepaid vouchers
The following persons shall not be eligible for the Lucky Draw: -
- Standard Chartered Bank staff accounts (Credit Cards and Bank Accounts)
- Employees of advertising and promotional agencies engaged by Standard Chartered Bank
Any other person whom STANDARD CHARTERED BANK decides to exclude from time to time in its absolute discretion without any obligation on Standard Chartered Bank to give any notice or any reason.
Lucky Draw and Prizes
The Lucky Draw Qualifying Period is from 1st January till 31st January 2013 (both dates inclusive). Every week during the Qualifying Period when a Customer completes any one of the above mentioned financial transactions via Online banking, he will automatically be entered into the Lucky Draw for iPad Mini Prize.
Winners will be announced through Standard Chartered Website or notified by branches.
General Terms & Conditions
No cash refund will be given for any Lucky Draw Prizes (“Prizes”) that are not utilized.
- Standard Chartered Bank may at its sole discretion at any time substitute or replace any Prize with any other prize of equivalent value.
- Each Prize winner will only be eligible to win ONE Prize within the Qualifying Period.
- The Prizes are neither transferable nor exchangeable for cash, credit or any other item.
- The Customer Prizes are subjective to any required taxes as per law.
- Standard Chartered Bank will notify the winning customer by a telephone call and the winners are required to personally claim their respective Prize within 1 month from Standard Chartered Bank notifying the winner by phone (“Claim Period”). Any Prize not claimed within the Claim Period will be irrevocably forfeited without any liability on the part of Standard Chartered Bank.
- Prizes will be delivered at Standard Chartered Bank branch premises after Customer authentication, during the Claim Period.
- Winners whose Prize has been forfeited are not entitled to any payment or compensation from Standard Chartered Bank.
- The winner shall collect the Prize at their own risk and cost and shall accept the Prize as they are.
- If Standard Chartered Bank subsequently discovers that a winner is in fact not entitled to participate in the Lucky Draw, Standard Chartered Bank may at its sole discretion forfeit the Prize (or reclaim the same if awarded) and award or dispose it in such manner and to such person as Standard Chartered Bank deems fit.
- Standard Chartered Bank shall not be responsible for proper functioning of the Prize or any warranties/ guarantees that come with the Prize.
- The decision of Standard Chartered Bank on all matters relating to or in connection with the selection of the winners shall be final and binding on all parties concerned (including all Customers).
- Standard Chartered Bank shall not be obliged to enter into any correspondence with any account holder or any other person on any matter concerning the Lucky Prize Draws.
- Standard Chartered Bank may, at any time at its sole discretion and without prior notice, vary modify, delete or add to these Terms and Conditions and may also withdraw or discontinue the Lucky Draw at any time without notice or liability to any account holder.
- Standard Chartered Bank shall not be liable in any way to any account holder for any loss or damage arising in connection with the Lucky Prize Draws, including any error in computing, any breakdown or malfunction in any computer system or equipment and any notice that is misdirected or lost in post.
- Standard Chartered Bank shall not be liable in any way to any account holder for any loss or damage arising due to the quality of the Prizes.
- In the event of fraud, abuse, and/or an error affecting the proper operation of the promotion, Standard Chartered Bank reserves the right to end or suspend the Lucky Draw; amend these Terms and Conditions; declare void the notification of winners; and/or to allocate available prizes by conducting a simple draw from all wrongly allocated winners.
- By participating in this draw all Customers will be deemed to have accepted and be bound by the Terms and Conditions and by any other requirements set out in the promotional material.
Meezan Bank conducted comprehensive 3-day training on Islamic Banking products for the management team of Amana Bank, Sri Lanka. The training session held at the Amana Bank head office in Colombo, covered 24 products for financing, liability, treasury, trade finance as well as other Shariah-compliant products.
Meezan Bank’s representatives, Ahmed Ali Siddiqui – Head of Product Development and Shariah Compliance and Asim Hameed Khan- Islamic Advisory, conducted the trainings which were attended by the senior management, middle management and nation-wide branch staff of Amana Bank, Sri Lanka.
Addressing the audience, Mohamed Azmeer – COO, Amana Bank appreciated Meezan Bank’s trainings and highlighted them as a vital tool in their plans to launch the new Islamic Banking products. Faizal Salieh – Managing Director/CEO, Fazly Marikar – Head of New Product Initiative & Gold Unit and Moulavi Siraj Najubdeen – Head of Shariah Supervision were amongst the Amana Bank trainees at the session.
The training was part of an agreement signed earlier in 2011, between the two banks under which Meezan Bank is providing Technical and Shariah Advisory Services to Amana Bank – Sri Lanka.
Meezan Bank’s Islamic Financial Advisory function assists Financial Institutions develop Islamic banking alternatives under the guidance of its Shariah Supervisory Board.
State Bank of Pakistan (SBP) has decided to publish an additional report: “Bank-Wise Access to Overnight Repo/Reverse Repo Facilities on Quarterly Basis” on its website. The report will provide market with details of number of times individual institutions have accessed SBP Interest rate corridor during the preceding quarter.
Banks have already been given flexibility with enhancement of reserves maintenance period to two weeks and reduction in daily minimum CRR to 3 per cent.
Hence, SBP believes that broadcasting of this data will promote transparency and encourage banks/DFIs to improve their liquidity management practices and ensure smooth functioning of Interest Rate Corridor.
DMMD of SBP currently publishes consolidated and Bank-wise weekly reports on Excess Cash Reserves held by the banks over and above the required CRR on State Bank’s website.
The objective of publishing these reports was to bring more efficiency in the money market operations of the banks and to improve banks/DFIs’ own liquidity management, which have implications on SBP’s monetary operations.
The volume of e-banking transactions showed a growth of 15% to 7.5 Crore and their value rose by 5% to Rs6.5 trillion in the first quarter of financial year 2012-13 compared with the same quarter of previous fiscal year.
According to the Payment Systems Review released by the State Bank of Pakistan (SBP) on Wednesday, another 242 Automated Teller Machines (ATMs) were installed by banks during the July-September quarter, taking the total number of ATMs in the country to 5,987.
ATM transactions have a major share of 58.6% with average value of Rs9,810 per transaction. Overall, value and volume of ATM transactions increased by 22% and 13% respectively. The share of ATMs in total e-banking transactions in terms of value was 6.7%.
According to the review, 121 more bank branches were added to the network of real-time online branches (RTOB). Now, 9,412 branches, out of a total of 10,111, offer such services across the country. The volume and value of RTOB transactions rose by 21% and 4% respectively.
The number of plastic cards increased by 9.55% as about 19.67 million cards were issued in the quarter under review.
The value and volume of transactions through Point of Sale (POS) terminals stood at Rs20.8 billion and 4.3 million, a growth of 15% and 5% respectively.
The review pointed out that the volume and value of large-value payments through Real Time Gross Settlements (RTGS) were 110,255 and Rs38.49 trillion respectively in the first quarter of FY13. This showed a 53.3% increase in value and 27% rise in volume as compared to the corresponding period of previous year.
The significant increase in the value of RTGS transactions was due to settlement against securities transactions, which increased by 73.4%.
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Ufone, in collaboration with Summit Bank, has launched its foran foreign funds transfer service.
Service will allow anyone (even those who aren’t Ufone subscribers) to withdraw money – remitted from anywhere in the world – from Ufone’s authorized outlets, customer service centre and franchises.
Ufone said that with this first of its kind branchless banking service in Pakistan, your friends and family can now send you money from anywhere in the world using Western Union, Xpress Money and Summit Bank’s own product Amanat Cash and you can collect it in Pak Rupees from a service centre, franchise or an authorized outlet near you.
Ufone said that amount up to 1 lak rupees can be withdrawn at a time, with Foran Foreign Cash.