The Bank of Punjab (BoP) has posted 146 percent yearly increase to Rs 1.00 billion profit after tax (PAT) in first half of 2013 as compared to Rs 405.5 million PAT in the same period of last year. The company’s earnings per share (EPS) increased to Rs 1.90 in first half of 2013 as compared to EPS of 77 paisas in the corresponding period of 2012, according to the company’s notice sent to the Karachi Stock Exchange on Friday. The company announced its financial results for half year and second quarter period that ended on June 30, 2013, where the company’s board of directors has not recommended final cash dividend and bonus shares to its shareholders for the half-year period that ended on June 30, 2013. However, on quarterly basis the BoP witnessed a massive increase in profitability by 155 percent to Rs 672.9 million PAT with EPS of Rs 1.90 in second quarter (April to June) of 2013 as compared to Rs 268.1 million PAT with EPS of 51 paisas in the corresponding period of last years....

The board of directors (BoD) of MCB Bank Ltd has declared final cash dividend of Rs 3 and 10 percent bonus shares, in addition to interim cash dividends of Rs 10 already paid for the year ended December 31, 2012, a statement of the bank said on Thursday. Earnings per share (EPS) for the year came to Rs 22.77 as compared to Rs 21.12 for December 31, 2011. Return on assets came to 2.95 percent, return on equity was recorded at 25.07 percent and book value per share improved to Rs 95.84. The BoD met under the chairmanship of Mian Mohammad Mansha to review the performance of the bank and approve the financial statements. For the year 2012, the bank reported profit before tax of Rs 32.054 billion and profit after tax of Rs 20.941 billion with an increase of 2.0 percent and 8.0 percent, respectively. Total assets of MCB Bank Limited grew by 17 percent to Rs 765.899 billion. The analysis of the asset mix highlights 27 percent increase in investments to Rs 402.069 billion ...

ISLAMABAD- February 18: The federal government has accorded its approval for promulgation of the Securities (Leveraged Markets and Pledging) Rules, 2011, which have been notified by the Securities and Exchange Commission of Pakistan (SECP) in the official gazette. While realizing the significance of liquidity in trading for a vibrant stock market, last year the SECP had drafted these rules after detailed consultations with the relevant stakeholders including the State Bank of Pakistan, Mutual Funds Association of Pakistan, Pakistan Banks Association, Leasing Association of Pakistan, Modaraba Association of Pakistan, the three stock exchanges, the National Clearing Company and the Central Depository Company of Pakistan Limited. The rules have been developed considering best international practices and provide a regulatory framework for Margin Financing, Margin Trading, Securities Lending and Borrowing and Pledging of clients’ securities. The promulgation of these rules is not only exp...