TC May-Jun 2022 Issue

TRADE CHRONICLE
BankIslami records 34pc
growth in PAT for 1Q22
BankIslami recorded some 34 percent
growth in Profit After Tax for the first
quarter of this year (1Q22).
Underpinned by growth in customer
base, increase in income levels and
improvements in cost efficiency;
BankIslami’s underlying operating
profit before provisioning for 1Q22
registered an increase by 95.8% i.e.
increase from Rs684m recorded during
1Q21 to Rs1,339m during 1Q22.
With respect to its balance sheet,
BankIslami had a robust start to the
year 2022 wherein it continued its
UBL launches “UBL Datathon”
with Habib University
The UBL in collaboration with
Habib University launched the
“UBL Datathon”, the first of its kind
initiative in the Banking industry. The
Datathon used UBL’s market leading
digital capabilities, combined with
the academic excellence of Habib
University to provide a platform to
the best and brightest technology
enthusiasts of Pakistan.
The participants competed to provide
technology-based solutions to real
life challenges faced by the financial
Faysal Bank introduces hotel booking
services in partnership with Ascendant
Faysal Bank Limited, in partnership
with Pakistan’s largest hospitality
technology company - Ascendant, has
launched a hotel booking platform
for its customers that enables
them to conveniently book hotels
online through their website: www.
faysalbank.com.
The website offers 1600+ hotels
and guest houses in 50 cities across
Pakistan. This initiative by Faysal
Islami, a leading Islamic Bank of
strategy to improve its deposit mix
and deployment of liquidity towards
profitable Shariah compliant avenues.
Consequently, Bank’s Current Account
composition improved from 39.0% in
Dec’21 to 40.4% in Mar’22. Likewise,
the Bank diverted its asset mix
towards better yielding corporate and
consumer segments which was in line
with increase in domestic demand.
As a result, the net Islamic Financing
of the Bank grew by 8.2%, whereas a
decline of 23.9% was witnessed in its
treasury placements.
Owing to growth in credit book and
persistent recovery efforts against
delinquent exposures, infection ratio
services industry. Several innovative
business ideas and solutions driven
by Data Analytics and Artificial
Intelligence were submitted by
the participants. These were judged
by global thought leaders including
Amazon Web Services, Microsoft, DBS,
Kaggle, Maybank and Commonwealth
Pakistan and winner
of Best Islamic bank
for Transformation
and innovation at
the Global Islamic Finance Awards
(GIFA), marks an integral step towards
the promotion of domestic tourism.
In addition, the bank also plans to
introduce international hotels to this
service to facilitate customers who
wish to travel abroad.
Speaking on the occasion at the launch
ceremony, Aneeq Malik, Group Head
Consumer Finance and Payment
Services Faysal Bank said: “We always
aim to bring the best banking services
to our customers at their fingertips.
CEO of Ascendant, Andre Privateer
said: As the only hospitality tech
provider able to offer real time rates
and availability at more than 80% of
Pakistan’s hotels, we serve the tourism
sector by making the online booking
experience better for the consumer.
reduced from 8.7% in
Dec’21 to 8.1% in Mar’22
with an improved
coverage ratio (including
general provision) of
91.4% in Mar’22 versus
89.6% in Dec’21.
May - Jun - 2022
To improve overall credit risk
profile, the Bank booked additional
provisioning against its existing and
potential delinquencies during the
1Q22. Despite recording additional
provisioning, the Bank posted Profit
After Tax amounted to Rs522m for
the quarter ended March 31, 2022,
depicting a growth of 33.9% from PAT
of Rs390m posted during same period
last year.
Bank.
Shazad G Dada, President & CEO UBL
in his keynote address presented on
the global and domestic trends that are
shaping the financial services industry
and how banks must transform into
Data Driven Organizations.
MMBL: Best Retail Bank
Mobilink Microfinance Bank Limited
(MMBL), Pakistan’s largest digital
bank, has been recognized for its
services in offering innovative digital
financial solutions at the 13th Annual
Retail Banker International (RBI), Asia
Trailblazer Awards 2022.
MMBL won the prestigious title of
'Best Retail Bank in Pakistan' along
with an honorable mention of 'Highly
Commended’ for Excellence in Client
Onboarding through its premium
digital financial services application -
MMBL DOST.
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