With strong build-up in core earnings, MCB Bank’s profit before tax for the year ended Dec 31, 2022, “posted an impressive growth of 37.3 per cent to reach a historic high of Rs71.4 billion”, the bank said in a press release on Wednesday. The board of directors of MCB Bank Limited in its meeting under the chairmanship of Mian Mohammad Mansha reviewed the bank’s performance and approved the fina
Former central bank chief Dr Ishrat Husain took commercial lenders to task on Wednesday for their laziness, which has resulted in vast gaps in banking services in agriculture, small and medium enterprises (SMEs), low-cost housing and personal finance segments. In his keynote address at the fourth Digital Banking and Payments Summit organised by TerraBiz, Dr Husain said he was “not satisfied” wi
As efforts are on to get 5,630 stuck-up containers released, the Karachi Chamber of Commerce and Industry (KCCI) has announced that the 18th “My Karachi — Oasis of Harmony Exhibition” would be held next month to show the world that the business community remains resilient and continues its battle for survival. Addressing a press conference at KCCI on Wednesday, Businessmen Group (BMG) chairman
Amid delays in financing arrangements with China for the $10 billion Karachi-Peshawar railway line (Main Line-1), the Asian Development Bank (ADB) has re-emerged as a funding contender for the mega project. Planning Secretary Syed Zafar Ali Shah told a group of journalists on Wednesday that the ADB had recently shown interest in financing the project. “As of now, we are still pursuing a part
By announcing to keep production activities suspended from Feb 13-17 due to continued shortage of parts and accessories, Pak Suzuki Motor Company Ltd (PSMCL) has jacked up prices of various car models by Rs130,000-350,000. The new prices of Alto VX, VXR, VXR AGS and AGS models are Rs2.034 million, Rs2.359m, Rs2.528m and Rs2.651m, up by Rs175,000-228,000. WagonR VXR, VXL and AGS models now