The Bank profit for the year 2022 increased to Rs 45.0 billion
The Board of Directors of Meezan Bank, approved the financial statements of the Bank and its consolidated financial statements for the year ended December 31, 2022. The meeting was chaired by Mr. Riyadh S.A.A. Edrees – Chairman of the Board, Mr. Faisal A. A. A. Al – Nassar – Vice Chairman of the Board was also present.
National Bank of Pakistan and State Life Insurance Corporation extending partnership
The Bank’s profit after tax for the year 2022 increased to Rs 45.0 billion compared to Rs 28.4 billion last year- a 59% growth. The Board has approved Rs 3 per share final cash dividend for the year 2022. This brings the total cash dividend payout for the year 2022 to Rs 8.50 (85%) per share as Rs 5.50 per share i.e., 55% interim cash dividend was already paid for the nine -month period. This is in addition to 10% bonus shares issued during the year. The Bank remains adequately capitalised with Capital Adequacy Ratio of 18.42% – well above minimum requirement of 12.00%.
Deposits of the Bank grew by 14% to Rs 1.66 trillion. The Bank added 60 new branches to its network bringing the total to 962 branches in 317 cities along with more than 1,000 ATMs. The Bank’s Mobile Banking App remains the highest-rated Mobile App in the banking industry on both Google Play Store and Apple App Store.
Jazz enables TCF to impart digital-age skills to over 250,000 students
Total assets of the Bank crossed Rs 2.5 trillion, registering a 35% growth. Its Gross financings grew by 31%, crossing Rs 1 trillion with Gross Advances to Deposits Ratio (ADR) of 61% vs 53% last year.
Meezan Bank remained the most valuable bank in Pakistan in terms of market capitalization amongst all the listed banks. The Bank has entity ratings at ‘AAA/A-1+’ (Triple A/ A-One Plus) which denotes the highest credit quality with negligible risk factors with Stable outlook assigned by VIS Credit Rating Company Limited.
Bank of Punjab becomes first bank to disburse funds under PM Youth Loan Scheme
- NBP Launches Seamless Raast QR Licensing Fee Collection Solution for NHMP
Karachi – NBP onboards the National Highways & Motorway Police for Raast QR-based licensing fee collections, marking another key milestone in the National Bank of Pakistan’s public sector digitisation journey. The signing ceremony formalised the mandate to enable on-the-spot, seamless and cashless payments for licensing services through Raast QR – bringing greater convenience for citizens… Read more: NBP Launches Seamless Raast QR Licensing Fee Collection Solution for NHMP - Mobilink Bank Launches BiBi app; Advances Women’s Digital Inclusion and Social Impact
Islamabad – Pakistan’s leading digital microfinance Bank, Mobilink Bank, has launched the “Bibi App,” a breast cancer awareness mobile application designed to support Pakistani women through accessible and localized health information. The application has been developed by Aangan, a startup focused on women’s reproductive health and an incubatee of Mobilink Bank’s Women Inspirational Network (WIN)… Read more: Mobilink Bank Launches BiBi app; Advances Women’s Digital Inclusion and Social Impact - AKFP & BAFL Partner to Launch PKR 66 million Flood-Rehabilitation Initiative for GB
Aga Khan Foundation Pakistan and Bank Alfalah Partner to Launch PKR 66 million Flood-Rehabilitation Initiative for Communities in Gilgit-Baltistan Aga Khan Foundation Pakistan, in partnership with Bank Alfalah, one of the leading commercial banks in Pakistan, has launched a rehabilitation programme to restore critical infrastructure and strengthen resilience in flood-affected communities across Gilgit-Baltistan. The initiative… Read more: AKFP & BAFL Partner to Launch PKR 66 million Flood-Rehabilitation Initiative for GB - ABHI Microfinance Bank to provide employee banking solution to REDtone Group
KARACHI: ABHI Microfinance Bank Ltd. has entered into a strategic partnership with REDtone Group, a multi-country telecom, engineering, and digital transformation firm, to introduce enhanced Employee Banking Services designed to support REDtone’s workforce with greater financial convenience and accessibility. The Memorandum of Understanding (MOU) was signed recently at a formal signing ceremony, where Asif Iqbal,… Read more: ABHI Microfinance Bank to provide employee banking solution to REDtone Group - Digital Innovation, Policy Reforms driving Pakistan’s digital banking transformation, says easypaisa CDO
Islamabad: Speaking at a panel discussion titled “How Digital Banks Can Thrive in the New Era?” at Money20/20 Asia in Bangkok, alongside digital banking executives and industry leaders, Farhan Hassan, Chief Digital Officer at easypaisa digital bank, said Pakistan’s digital banking transformation has been driven by a series of regulatory, technological, and market-led interventions rather… Read more: Digital Innovation, Policy Reforms driving Pakistan’s digital banking transformation, says easypaisa CDO
