new ABN AMRO credit cards offer highly
personalized services, all aiming at bringing a value addition to ABN
Salman Sarwar Butt, Country Consumer Bank Head of
ABN AMRO Bank was also present at the occasion. He said, "We feel
proud and delighted on this successful and advanced development which
has established us as a leader in chip technology as well as one of
the most superior banks in the entire region. The product has been
developed in line with the needs of today's customer, and the customer
service shall reflect the exemplary standards which have become a
hallmark of ABN AMRO Bank in Pakistan."
SONERI BANK LIMITED
The shareholders of Soneri Bank Limited approved
the Annual Accounts of the bank for the year ended December 31, 2004
at the AGM held at a local hotel in Lahore on March 29, 2005. The
shareholders also approved the recommendations of the Board of
Directors for issuance of Bonus Shares at the rate of 30 percent i.e.
30 shares for every 100 shares held which will result in
capitalization of Rs381,576,000 raising the Paid-up Capital of the
bank to Rs1,653 million. The shareholders' equity will exceed Rs3
Inspite of intense competition, the results show
satisfactory performance with a growth of 34 percent in deposits over
the last year and pre-tax & after-tax profit showing an increase
of 29 percent and 48 percent respectively over the year, 2003. The
volume of trade finance business handled during the year showed
increase of 26 percent over 2003.
DEWAN MUSHTAQ MOTOR COMPANY
The President of the Islamic Republic of Pakistan
has conferred upon Mr. Dewan Yousuf the most eminent Civil Award, the
'Sitara-e-Imtiaz' ( the Star of Excellence) for being the 'highest
Industrial Investor', on March 23rd, 2005.
Dewan Muhammad Yousuf is a prominent industrialist
of the country and Dewan Mushtaq Group is one of the largest
Industrial Groups in Pakistan involved in various industrial sectors.
Mr Yousuf is looking after several companies of the Group comprising
of Automotive, Sugar, Textile, and Cement operations.
BANGLADESH TO SELL UP TO 75% OF RUPALI BANK
Bangiadesh is to sell up to 75 percent of the
shares in state-run Rupali Bank, the head of the country's
privatisation commission said, outlining a move recommended by the IMF
as part of financial sector reforms.
"We would invite bids from the private sector
next month to offload between 51 percent and 75 percent of the shares
of Rupali Bank. The process will be completed in a few months,"
Privatisation Commission Chairman Enam Ahmed Chowdhury told reporters.
Rupali is the third largest commercial bank in the
public sector with a workforce of about 6,000 and 508 branches.