Bank Alfalah to expand earnings Bank Alfalah Limited’s balance-sheet is geared up to expand earnings in rising interest rate scenario, while higher concentration towards zero-cost deposits will restrict the cost of funds at manageable levels. Moreover, the net interest margins (NIMs) expansion is likely to continue in CY22 due to higher portion of shorter duration … Read more
Amreli Steels expects 10% growth in FY22 The management of Amreli Steels Limited (ASTL) is expecting 10 per cent growth with 400k tonnes of rebars in FY22 and is anticipating to maintain 12 to 13 per cent average gross margins during the period. Additionally, the company is hopeful that the higher volumetric growth coupled with … Read more
Minister of State for Information and Broadcasting Farrukh Habib on Sunday said the private sector got record loans under both the Temporary Economic Refinance Facility (TERF) and Long Term Financing Facility (LTFF) schemes of State Bank of Pakistan (SBP) during 2021. Read more: Like the pandemic, PM Imran Khan vows to overcome inflation “This is … Read more
KARACHI: The banking deposits surged 17 per cent to Rs20.51 trillion by the quarter ended September 30, 2021, compared with Rs17.54 trillion in the same quarter of the last year, according to a report released by the State Bank of Pakistan (SBP) on Tuesday. Similarly, the total assets of the banking system climbed up 21 … Read more
KARACHI: Gharibwal Cement Limited has announced 10,000 tonnes/day capacity expansion, which is expected to come online two years after the commencement of the civil work, which is to begin soon. The project cost, being undertaken by a China-based firm, is estimated to be around Rs8 billion to Rs10 billion. The company has not availed Temporary … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed dissatisfaction over the exorbitant interest rate of up to 9 per cent allowed to commercial banks under the State Bank of Pakistan’s (SBP) SME Asaan Finance Scheme, a statement said on Saturday. FPCCI president Mian Nasser Hyatt Maggo said that the central … Read more
KARACHI: State Bank of Pakistan (SBP) Governor Dr Reza Baqir said that the national economy is poised to witness a continued recovery in FY22 given the resilience in the economy and the measures taken during Covid-19 pandemic situation to support the businesses and people. The recovery could already be seen in the more than expected … Read more
The State Bank of Pakistan has reduced the markup rate on investment under SBP’s Temporary Economic Refinance Facility (TERF) to 5% (from 7%) and on Long Term Financing Facility. According to the details, SBP reduces markup rate on investment under SBP’s Temporary Economic Refinance Facility (TERF) to 5% (from 7%) and on Long Term Financing … Read more
