Another strong year for NBP

The National Bank of Pakistan (NBP) has delivered yet another year of strong financial results and posted a pre-tax profit of Rs62.7bn for the year ended December 31, 2022, depicting an annual increase of 18.7pc, according to a press release. With strong income momentum across its business segments, the bank’s fund-based net interest income was particularly strong.

The 40pc growth in average earning assets, coupled with margin expansion through higher policy rates, generated gross interest income of Rs503.3bn, i.e. 117pc higher than Rs231.9bn for 2021. Pursuant to an effective fund mobilisation, the average interest-bearing liabilities of the bank reached Rs3,871.9bn.

This year, the bank achievedt he Rs5tr milestone in its balance sheet that grew by 36.2pc to reach Rs5.240.4bn from Rs3,846.7bn at the end of 2021. This makes NBP the largest bank in Pakistan in terms of total assets.

SC’s football league

Standard Chartered Karachi United Youth Football League 2022-23 held its closing ceremony last week, having sponsored over 1,200 footballers, as per a press release. Over the last five years, in partnership with Karachi United Foundation, this exemplary sporting initiative has engaged more than 5000 talented players and tens of community centres. This year’s tournament began on November 25 2022 and since then has seen more than 180 matches being played. Matches included different age categories.

Standard Chartered has been sponsoring this league since 2017, when 600 children, mostly from underserved communities, participated in the tournament. Today, it attracts thousands of youngsters who aspire to excel, achieve nationwide recognition as football players, and lead a progressive life.

PPL’s record philanthropy

Pakistan Petroleum Limited (PPL) has once again been adjudged as one of the largest corporate givers by volume of donations for 2020-21 and 2021-22 by the Pakistan Centre for Philanthropy, according to a press release. This is the 18th consecutive year since 2004 that the company has maintained this philanthropic tradition.

PPL continues to uphold its seven-decades-old legacy of sharing the benefits of development with deserving communities. The company’s CSR programme reaches deserving communities, from remote operational areas to urban centres across the country, to improve their quality of life. PPL’s CSR budget during 2020-21 crossed the Rs2bn mark, which is a record.

TPL Insurance and Takaful Bazaar

One of the leading insurance providers in Pakistan has partnered with Takaful Bazaar, an upcoming Takaful digital platform, to offer shariah-compliant services to customers, says a press release. The partnership between TPL Insurance (WTO) and Takaful Bazaar represents a significant milestone for the Takaful industry in Pakistan, as it provides customers access to a broader range of shariah-compliant products and services.

This partnership is also a testament to both companies’ innovative and technology-driven approaches to increasing insurance penetration in Pakistan. It aims to promote and offer Shariah Compliant products and smooth the customer handling journey via technology enablement.

Khushhali’s new president/CEO

Khushhali Microfinance Bank is pleased to announce the appointment of Aameer Karachiwalla as its new President/CEO. Mr Karachiwalla brings with him over 30 years of experience in the financial industry, having held leadership positions in both banking and microfinance institutions.

Mr Karachiwalla is joining Khushhali Microfinance Bank at a crucial time, as the bank looks to expand its presence in the microfinance sector and improve its offerings to underserved communities.

SAP head takes on additional role

Saquib Ahmad, Country Managing Director, SAP Pakistan & Afghanistan, has been given additional charge to lead SAP Iraq. He assumed his additional role as the Managing Director Pakistan, Iraq and Afghanistan with effect from March 2023. The new role and added responsibility are a result of Mr Ahmad’s outstanding performance. He has played a strong leadership role in transforming Pakistan’s public and private sector enterprises into digitally driven entities.

Published in Dawn, The Business and Finance Weekly, March 13th, 2023