Arab Today, arab today 5 pakistan banks post over 470m profit in 6 months
Last Updated : GMT 05:49:56
Arab Today, arab today
Arab Today, arab today

5 Pakistan banks post over $470m profit in 6 months

Arab Today, arab today

Arab Today, arab today 5 Pakistan banks post over $470m profit in 6 months

Karachi - Arabstoday

The five big local banks have earned 24 per cent more profits during the first half of this calendar year despite poor economic growth and global financial crisis. At a time when there are fears US slipping into recession and banking stocks are under pressure globally, banks in Pakistan have posted above average growth in their earnings. Profits of the big five banks posted impressive growth of 24 per cent for the six month ended June 30, 2011 to reach Rs40 billion (pre tax profit of Rs60bn), said a report prepared by Topline Securities.The analytical report is based on five large banks by deposits and branch network included NBP, HBL, UBL, MCB Bank and ABL, which contribute more than 57 per cent share of the total banking sector deposits and represent approximately 80 per cent of the market capitalisation.However, the NBP is excluded which incurred huge provisioning in second quarter of 2011 (which is 40 per cent of the combined provisioning of the other four banks) the profitability growth further improves to 31 per cent.Bank-wise profitability showed that ABL posted highest profitability growth of 39 per cent, followed by MCB Bank (33 per cent), UBL (29 per cent), HBL (25 per cent) and NBP (three per cent).The report said due to higher return on advances and better yield on government papers, overall net interest income (NII) of these big banks grew by 17 per cent.This showed impressive core banking operations as average 6-months KIBOR increased by 154 basis points in first half of 2011 compared to first half of 2010 while cost of funds remained on the lower side. Moreover, the large banks continue to opt for a risk-averse approach by parking their funds into less risky government securities which also contributed to higher NII. Similarly, with overall improvement in trade activities, non-interest income of big banks grew by impressive 22 per cent, said the report. On the flip side, provisioning remained on the higher side which stood at Rs19 billion, up 20 per cent.Pakistani banking sector spreads seem to have peaked as they improved marginally by two basis points to 7.88 per cent in July on a monthly basis. From / Gulf Today

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today 5 pakistan banks post over 470m profit in 6 months Arab Today, arab today 5 pakistan banks post over 470m profit in 6 months

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today 5 pakistan banks post over 470m profit in 6 months Arab Today, arab today 5 pakistan banks post over 470m profit in 6 months

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday