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The Bank reported a Profit before tax of PKR 4.1 billion compared to PKR 4.9 billion for the same period last year. Revenue was lower by PKR 942 million primarily due to reduced margins. The impact of margin compression on revenue was partially offset by a stable non-funded income and decreasing cost of funds.

Administrative costs continue to be well managed through operational efficiencies and disciplined spending, leading to a 1per cent decrease from Q1 2016. Further, strong recoveries of bad debts, coupled with lower impairments led to a net release of PKR 340 million in the current period.

All businesses have positive momentum in client income with strong growth in underlying drivers. This is evident from a pickup in advances, which have grown by 21per cent since the start of this year. This was the result of a targeted strategy to build profitable, high quality and sustainable portfolios. With a diversified client base, the Bank is well positioned to cater for the needs of its clients.

On the liabilities side, the bank’s total deposits grew by 3per cent since the start of this year. The continuous increase in low cost deposits has significantly supported the Bank’s performance with current and savings accounts comprising 92per cent of the deposit base. Commenting on the results Shazad Dada, Chief Executive, Standard Chartered Bank (Pakistan) Limited, said, “These results demonstrate the diversity and resilience of our business. We will continue to make investments in our people and infrastructure to grow safely and capture the business opportunities in the country. Having worked hard to secure our foundations we are now focused on realising their potential. We are fully committed to delivering sustained growth by consistently focusing on our clients and product suite to bring to them best in class services.”


People in Multan can now refuel with Shell’s premium fuel that not only enhances engine performance, but also gives an incredible driving experience

Shell Pakistan Limited is pleased to announce that its premium quality fuel Shell V-Power is now available at 4 retail stations in Multan, as well as 2 retail stations in Bahawalpur. Shell V-Power Unleaded is an innovative new premium formulation designed to protect car engines against gunk and corrosion. The fuel was officially launched in Multan at Multan Petroleum Services, Khanewal Road.

With over 100 years of experience in developing fuels, Shell has more than 100 fuel scientists and specialists working tirelessly on fuels innovation, development and product implementation across the globe. This has led to the formulation of Shell V-Power Unleaded with powerful cleaning agents to prevent and remove corrosive and gunk engine deposits thereby improving engine performance.

On this occasion, Mazhar-ud-Deen, General Manager – Retail, Shell Pakistan Limited said: “Our customers are at the heart of everything that we do, and every product that we offer. It is with this notion that we are extending our network for Shell V-Power Unleaded to allow more customers across Pakistan access to our best fuel for their cars. We hope our customers enjoy using it and feel the difference in their drive.”

Shell V-Power Unleaded not only cleans older engines but also maintains new ones with equal effectiveness and Shell is poised to bring this fuel to more cities this year.


The Board of Directors of Shell Pakistan Limited announced the first quarter results for the company on 20th April. The Company posted an after tax profit of PKR 1,396 million compared to the profit of PKR 21 million made in the same period last year.

The company is continuing on its positive trajectory after delivering record breaking results in 2016, the highest in two decades. For continued improvement in performance, we look forward for support from the Government in bringing about further infrastructural and policy improvements in the sector that will allow us and other players to play a better role in building Pakistan’s energy future for our customers.


The total liquid foreign reserves held by the country stood at US$21,150.8 million on 21 April 2017.

The break-up of the foreign reserves position is as under:-

i) Foreign reserves held by the State Bank of Pakistan: US$16,050.1 million

ii) Net foreign reserves held by commercial banks: US$5,100.7 million

iii) Total liquid foreign reserves: US$21,150.8 million

During the week ending 21 April 2017, SBP’s reserves decreased by US$366 million to US$16,050 million due to external debt servicing and other official payments.


“PACRA has upgraded Asset Manager Rating of NBP Fullerton Asset Management Limited (NAFA) to AM1 (very high quality). This is the highest rating that an Asset Management Company can achieve. NAFA is among the only two Asset Management Companies in Pakistan that have been awarded an AM1 rating. According to Dr. Amjad Waheed, CEO – NAFA, this rating is a reflection of the performance of our funds, diversified investor base, and the quality of services that we offer to our investors. Dr. Waheed further stated that NAFA is the only Asset Management Company in the country that is managing over Rs 100 billion of investors’ money, and has achieved an AM1 rating, in its eleventh year of operations.”



The Board of Directors of MCB Bank Limited, met under the Chairmanship of Mian Mohammad Mansha, on April 26, 2017 to review the performance of the Bank and approve the financial statements for the three months period ended March 31, 2017.

The Bank posted profit before tax of Rs 9.47 Billion and profit after tax of Rs. 6.15 Billion. In comparison with the corresponding period last year, profit before tax has increased by 4.39% which is mainly contributed by 75% increase in Non-markup income. Net markup income of the Bank was reported at Rs. 9.74 billion, down by 14.04% over corresponding period last year. On the gross markup income side, the Bank reported a decrease of Rs. 294 million whereas interest expense registered an increase of Rs. 1.296 billion over corresponding period last year, mainly on account of increase in repurchase agreement borrowings.

On the non-markup income front, the Bank reported a base of Rs. 5.18 billion with exceptional growth of 75% over corresponding period last year. Major contributions of non-markup income are fees & commissions, capital gains and dividend income.

The administrative expense base (excluding pension fund reversal) recorded an increase of 11% over corresponding period last year. On the provision front, the Bank continued with its recovery trajectory and posted a reversal in provision of Rs. 880 million in first quarter of 2017.

The total asset base of the Bank was reported at Rs 1,246.55 billion reflecting an increase of 18.51% over 2016. Analysis of the asset mix highlights that net investments have increased by Rs. 191.66 billion (+34.48%) with net advances increased by Rs. 5.53 billion (+1.59%) over December 31, 2016. The coverage and infection ratios of the Bank were reported at 89.46% and 5.68% respectively.

On the liabilities side, the deposit base of the Bank recorded an increase of Rs. 37.52 billion (+4.80%) over December 2016. MCB Bank Limited continued to enjoy one of the highest CASA mixes in the banking industry of 94.33% with current deposits increasing by 7% and savings deposits by 4% over December 2016. Strategic focus on current accounts resulted in increase in concentration level to 39% of the total deposit base.

Earnings per share (EPS) for the quarter came to Rs. 5.52 as compared to Rs. 5.41 during the same period last year. Return on Assets and Return on Equity were reported at 2.14% and 20.70% respectively, whereas book value per share stood at Rs.107.47.

The Bank remained a well-capitalized institution with a capital base well above the regulatory limits and Basel capital requirements. While complying with the regulatory capital requirements, the Bank has the highest cash dividend per share in the industry with regular interim dividends and remains one of the prime stocks traded in the Pakistani equity markets. Bank’s total Capital Adequacy Ratio is 18.12% against the requirement of 10.65% (including capital conservation buffer of 0.65%). Quality of the capital is evident from Bank’s Common Equity Tier-1 (CET1) to total risk weighted assets ratio which comes to 15.80% against the requirement of 6.00%. Bank’s well capitalization also resulted in a leverage ratio of 7.61% which is well above the regulatory limit of 3.0%. The Bank enjoys highest local credit ratings of AAA/A-1+ categories for long term and short term respectively.


JS Bank and Inov8 Limited have signed two agreements to promote financial inclusion in the industry by digitizing payments, and provide an unmatched digital experience for its valuable customers. The partnership between Inov8 Limited and JS Bank is designed to enable JS Bank customers to conduct internet banking and retail payments through a digital ecosystem, both through the Fonepay platform and JS Mobile, Pakistan’s first android banking application.

Speaking at the occasion, Mr. Kamran Jafar, Group Head CRBG, JS Bank, said

“This partnership with Inov8 for Fonepay and the JS Mobile Banking upgrade emphasizes our dedication towards digitizing customer experiences and bringing the best of technology to our clients”.

Mr. Imran Soomro, CIO JS Bank, further added “Fonepay is a revolutionary platform that will go a long way in making our consumer lives easier. We also believe that our Mobile Banking application upgrade will create a proposition far superior to any other in the region, not just Pakistan”.

Bashir Sheikh, co-Founder and co-CEO of Inov8 Limited, said “Inov8’s leadership in the digital payments space reflects our commitment to a cashless, efficient and convenient future ecosystem of transactions. In JS Bank, we have found a partner that is exceptionally forward looking, while staying true to their customer needs”.

JS Bank is considered amongst the fastest growing banks within Pakistan’s banking landscape with 307 branches in 152 cities and one international branch. JS Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups.

Inov8 Limited is the Region’s fastest growing digital payments company and has grown to become a leading partner to banks and mobile operators, both locally and internationally. The company recently secured Series A Funding of $5.4 million and achieved a valuation in excess of $100 million. Inov8 is the dominant player in the Pakistan market offering next generation products designed to address all facets of the digital financial services and commerce value chains.


On Tuesday 25th April, a Certificate Distribution Ceremony for Business Incubation Program for Women Home-Based Workers was held at IBA Main Campus. 61 women home-based workers belonging to areas such as Sultanabad, Korangi, Ibrahim Hyderi and Lyari were awarded certificates for completing a comprehensive three-month entrepreneurship training program especially designed for them. This is a hallmark program of IBA AMAN Center for Entrepreneurial Development (AMAN- CED) in which women entrepreneurs from underprivileged communities of Karachi are trained to start their own ventures in order to promote the cause of women economic empowerment. At the event speaking to the audience Ms. Mahpara Shakil, Deputy Chief of Party, Gender Equity Program (GEP), and Aurat Foundation said, ’This is an important step toward women economic empowerment’. She said she was highly moved by the confidence and enthusiasm showed by all the participants. Dr. Shahid Qureshi, Director AMAN CED, IBA Karachi addressed the audience and stressed upon the fact that women are nation builders and thus they should be given the opportunity to utilize their full potential.

The candidates gave outstanding presentations on their budding businesses and demonstrated their knowledge on Marketing and Finance, which is a testimony to how much they have learnt at IBA through this program. The participants also expressed their deep gratitude to IBA and the faculty which mentored them; IBA has broadened their vision and guided them in the direction to resounding success.

In order to provide them a platform to exhibit their products and services ranging from handmade jewelry, handbags, tailoring services, Salon services, traditional embroidery etc. a showcase event by the name of CED Bazaar 2017 was also organized the same day. The event was well attended by Aurat Foundation management, USAID officials, IBA students and esteemed faculty members. The event proved to be instrumental in supporting women entrepreneurship in Pakistan. These women home-based workers received positive feedback and suggestions for future improvement.

Institute of Business Administration is implementing the project of Business Incubation Program for Women Home-Based Worker’s under the Gender Equity Program (GEP) of Aurat Foundation by the support of the American People through the United States Agency for International Development (USAID) in Karachi.

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