Standard Chartered announces PKR 12.1 Billion profit over 9 months

Muneeb Ahmad Written by Muneeb Ahmad · 52 sec read>

Standard Chartered Bank of Pakistan has released its third quarterly report of year 2016. The stats on its performances over first 9 months of current year indicate the profit before tax evaluation standing at a huge Rs 12.1 Billion.

The Third Quarter Report threw insights into all of the major financial indicators in a balance sheet which included facts on factors like the Paid-Up Capital, Total Equity, and Net Investments. The total revenue stood over PKR 20 billions which after administrative and random non-markup expenses dropped to PKR 12.114. The banks total deposits grew by 9% since this year, despite the fact that interest rates in Pakistan largely remained lowered.

Commending the said development, the Chief Executive Officer, Standard Chartered Bank of Pakistan, Shazad Dada said,

“The Bank has seen a strong third quarter performance. The bank continues to invest into its digital capabilities and infrastructure to enhance banking experience through introduction of innovative digital solutions. We are well positioned to take advantage of long-term growth opportunities in Pakistan. While maintaining a strong focus on controls we endeavor to further enhance the quality of our client experience.”

Standard Chartered Bank has been performing great on Pakistani grounds. Recently, it was announced that Standard Chartered is rolling out video banking starting with Asia. It will also be rolling-out bio-metric verification for secured banking to Pakistan by the end of current year. The bio-metrics willl come bundled with Touch ID, an application that will be made available on major mobile platforms.

Written by Muneeb Ahmad
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