HiBhanu Talks’ Post

Askari Bank Limited has reported its financial performance for the first quarter of 2024, revealing a profit of Rs3.74 billion. While this reflects a 20.49% year-on-year decrease compared to the earnings of Rs4.7 billion in the same period last year (SPLY), the bank has demonstrated resilience amidst challenging economic conditions. Despite the decrease in profit, Askari Bank experienced an 8.22% year-on-year increase in its net interest income (NII), reaching Rs12.92 billion, compared to Rs11.94 billion in Q12023. This growth in NII underscores the bank's effective management of its interest-earning assets and liabilities. Furthermore, the bank's total non-markup income surged by 22.57% year-on-year to Rs3.85 billion, driven by a significant rise in fee and commission income as well as foreign exchange income. This diversification of income sources reflects Askari Bank's robust business model and its ability to generate revenue from various sources. Additionally, the bank witnessed a notable improvement in its securities trading, reporting a profit of Rs273.55 million compared to a loss of Rs91.32 million in Q12023. This positive performance in securities trading contributes to the bank's overall profitability and strengthens its financial position. Overall, despite facing challenges, Askari Bank Limited continues to demonstrate resilience and adaptability, maintaining a strong financial performance and positioning itself as a key player in the banking industry. #askari #profit #bank #billion #firstquarter #banking #profit

This week, the NGX-Banking Index advanced by 5.14% week on week (W-o-W) to close at 857.23. In the Tier 1 banking sector, GTCO, Ecobank Nigeria, and Zenith maintained impressive performance year-to-date (YTD) price adjustments of 13.33%, 4.55%, and 0.52%, while other banks in this category have seen a fall in their stock prices. UBA was the highest gainer for the week, closing at N23.0k.

#IslamicFinance Hijra Bank posted a remarkable turnaround in competitive interest-free banking, reporting a net profit of 27.8 million Br for the 2022/23 fiscal year. The results demonstrated a robust recovery from its founding year losses and positioned it ahead of its closest competitor, ZamZam Bank, by 3.7 million Br. The momentous feat showed the potential of Sharia-compliant banking models within the financial industry. READ MORE: https://ow.ly/CUrB50R0NlT

Meezan Bank Limited (PSX: MEBL) reported earnings of Rs. 78.3 billion for the first nine months of 2024, reflecting a 34% year-on-year increase. For the third quarter of 2024, the bank's total earnings reached Rs. 26.2 billion (EPS: Rs. 14.6), marking a 1% year-on-year increase but a 2% decline quarter-on-quarter. This year-on-year growth is attributed to a significant rise in total income, as noted by Arif Habib Limited. Additionally, the bank declared a cash dividend of Rs. 7 per share for the third quarter, bringing the total payout for the first nine months of 2024 to Rs. 21 per share. Rea more: https://t.ly/AaL3s #sarmayakaari #updates #news #finance

MCB Bank Limited has announced its impressive financial results for the nine-month period ended September 30, 2024, showcasing robust growth across key areas. The bank's total deposits have surpassed the Rs. 2 trillion mark, representing a 14% increase from December 2023. Profit before tax reached Rs. 95.1 billion, up 8% year-on-year, while profit after tax rose to Rs. 48.5 billion, up 10% year-on-year. MCB Bank's financial performance was driven by a strong increase in net interest income, which grew 8% year-on-year, and non-markup income, which surged 19% to Rs. 26.9 billion. The bank's total assets stood at Rs. 2.8 trillion, up 15.1% from December 2023, with net investments and gross advances increasing by Rs. 258 billion and Rs. 103 billion respectively. The bank's commitment to digital transformation has yielded impressive results, with strong growth across digital platforms. MCB Bank has also demonstrated prudent risk management, with a non-performing loan base of Rs. 55.1 billion and coverage and infection ratios of 91.98% and 7.59% respectively. MCB Bank's capitalization remains strong, with a Total Capital Adequacy Ratio (CAR) of 21.85%, Common Equity Tier-1 (CET1) to total risk-weighted assets ratio of 17.15%, and a Leverage Ratio of 6.17%. The bank has received numerous awards and recognitions, including a "AAA / A1+" rating from Pakistan Credit Rating Agency. . . . . . . . . #initiatemagazine #initiate #initiator #MCBBank #FinancialResults #Banking #Pakistan #Sustainability #Growth #Profitability #DigitalTransformation #RiskManagement #Capitalization #Awards #Recognition #AAA-rating #BankingExcellence #FinancialInclusion #EconomicGrowth

Meezan Bank Limited Posts Rs. 25 Billion Profit in 3 Months: Meezan Bank Limited (PSX: MEBL) has disclosed a robust financial performance for the quarter ending March 31st, 2024 (1Q2024), with a profit after tax (PAT) reaching Rs. 25 billion, marking a substantial 65 percent increase year-on-year (YoY). According to Arif Habib Limited, the bank's earnings were propelled by a YoY uptick in income. However, a sequential comparison revealed a decline in income, which impacted overall profitability on a quarter-on-quarter (QoQ) basis. Accompanying the financial results, MEBL also announced a cash dividend of Rs. 7 per share. Read more: https://lnkd.in/daN2uje9 Meezan Bank Limited Arif Habib Limited Shayan Baig Wasif Farooq Muzammil Khalid Ovais Raza Khan Kamran Mahmood Butt Syed Asad Bin Shakil . Arslan Mehmood Dar Sabir Amin Mudassar Siddique Muhammad Fizan Ahmed Mujtaba Baig Mirza Ali Huzaifa Sultan (JAIBP, MBA) Syed Muhammad Hasan Abrar Shaikh Samad Ali Huzaifah Awan Asad Hakro Waqar Altaf Mohsin Zamir Shehroze Malik Muhammad Zahid Nasir Imam Irfan Siddiqui SYED ATTA UR REHMAN Muhammad Mansoor Ali Waqar Altaf #Meezanbank #MEBL #Profits #Growth #FintechnewsPakistan

In Q2 2024, Pakistan's banking sector maintained strong performance, with a 3.41% year-on-year profit growth to Rs133.81 billion. Meezan Bank led with a 55% surge in profit to Rs26.89 billion. MCB and UBL followed with Rs16.84 billion and Rs15.27 billion, respectively. High non-markup expenses, driven by inflation, impacted overall results, while the sector benefited from a Rs2.14 billion provision reversal due to improved economic conditions. NBP faced a Rs9 billion loss due to pension liabilities. Dividends were led by UBL, MCB, and Meezan Bank. Mettis Global https://lnkd.in/eFfr8dmN

📈 Canara Bank's Q4 Results: Strong Growth & Profitability Canara Bank's Q4 results for March 2024 reveal impressive performance. Standalone net profit surged by 18% to Rs 3,757 crore, while net interest income increased by 11% to Rs 9,580 crore. Asset quality improved, with the GNPA ratio declining to 4.23%. The proposed dividend of Rs 16.10 per share underscores the bank's commitment to shareholders. CEO K. Satyanarayana Raju's strategic insights pave the way for future success. Read more: https://lnkd.in/eV3FAEDT #CanaraBank #Q4Results #FinancialPerformance 📊🏦

The reports of the third quarter proved that how the banks who used to claim themselves to be strong now kneeled down when they started an uncontrolled race for number one and how time makes those who take fair risks gradually with moderation in business growth can evolve as more strong banks. In my study, the following banks have proven to be the best performer banks in terms of various aspects under study. 1. Everest Bank Limited 2. Standard Chartered Bank Limited 3. Nepal SBI Bank Limited 4. Nabil Bank Limited 5. Sanima Bank Limited Now, NIC Asia who used to be the self claimed front runner of the race of best performing banks now has settled in third last position with pathetic decline in financial parameters. It reminds me the tale of rabbit and the tortoise that we all heard in our childhood.