KARACHI: Bank Al-Habib has posted a profit after tax of Rs 2.425 billion for the year 2008 and declared a bonus share of 27.50 percent and a final cash dividend of Rs 1.25 per share. According to financial results of the bank dispatched to the Karachi Stock Exchange here Wednesday, the pre-tax profit surged to Rs 3.578 billion for the period ending December 31, 2008. The earning per share also improved to Rs 5.07 during the year under review.
The SECP’s Enforcement Department— while enforcing compliance of corporate and allied laws— initiated 86 show-cause proceedings and concluded 54 proceedings against chief executives, directors and auditors of companies in February and March. While facilitating companies to strengthen their capital base, the department allowed three listed companies to issue shares by way of otherwise than right at a discount and at par. In order to strengthen the existing regime of Corporate Social Responsibility (CSR) reporting, the SECP has joined hands with the ICAP for the external assurances of the CSR reports. CSR reports assist organizations in understanding and communicating their vision of combining a company’s profitability with social responsibility and environmental care. Both the SECP and the ICAP have reaffirmed their commitment to developing a framework for external assurance in accordance with prominent international assurance standards, and within a mutually agreed time f
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