Standard Chartered profit rises 59pc

KARACHI: Standard Chartered Bank (Pakistan) Limited has announced that its profit (before tax) during the first quarter of this year has grown by 59 per cent to Rs3.4 billion, with earnings per share up at Re0.57 from Re0.36 a year ago. Revenue rose by 10pc in comparison with first quarter last year, according to a press release issued on Wednesday.

JS Bank’s 4G-enabled branchless banking

KARACHI: JS Bank Limited (JSBL) and Inov8 Limited (i8) have signed an agreement for the implementation of a Branchless Banking and Mobile Financial Services solution.

JSBL President, Khalid Imran, said, “I believe that the mobile technology has become an extremely important mass outreach platform for the delivery of banking services.”

Inov8’ CEO, Hasnain A. Sheikh, said, “We are very excited to be setting out in this new partnership with JS Bank where they will be using a customised version of Inov8’s next generation MFS platform.”