• Activities
    • Health
    • Education
    • Mobile
    • Sports
    • PSL
  • Economy
    • Auto Industry
    • Crypto Currency
    • Economy
    • Smart Devices
  • Tech
    • Startups
    • Social
    • Telecom
    • Technology
  • TechX World
+92 323 8324975
Sunday, March 26, 2023
TechX Pakistan | Startups | FinTech | Crypto | EdTech | Reviews
Advertisement
  • Home
  • News
  • Premium Content
  • How To
  • Advertisement
  • Contact
  • About
No Result
View All Result
  • Home
  • News
  • Premium Content
  • How To
  • Advertisement
  • Contact
  • About
No Result
View All Result
TechX Pakistan | Startups | FinTech | Crypto | EdTech | Reviews
No Result
View All Result
  • Home
  • News
  • Premium Content
  • How To
  • Advertisement
  • Contact
  • About
Home Economy

In Q3, Standard Chartered made a gross profit of Rs 36.4 Billion

Muhammad Kamal by Muhammad Kamal
October 27, 2022
in Economy
Reading Time: 3 mins read
A A
Buy author a coffee
In Q3, Standard Chartered made a gross profit of Rs 36.4 Billion

Standard Chartered Bank Pakistan Limited (SCBPL) reported an increase in pre-tax profit of 98% year on year to Rs 36.4 billion in the third quarter of 2022.

The bank’s overall income increased by 70% to Rs 45.1 billion, with positive contributions from all segments.

Despite the high inflation environment and ongoing infrastructure investment, operating expenses are well managed through efficiency and discipline, with a 12% increase over the same period last year.

Due to the general supply reversal of Covid-19, there was a net release of Rs 1.5 billion with fewer impairments and stronger recoveries during the period, compared to a net release of Rs 0.8 billion in loan impairments in the comparable period.

The bank is well positioned to meet the needs of its customers due to its diverse product offering.

On the liabilities side, the bank’s total deposits increased by 17% to Rs 108.0 billion, while current and savings accounts increased by 21% year to date to Rs 119.0 billion. Basis of accumulation.

The bank is well positioned for future growth, with a strong Return on Equity (ROE) of 23.5 percent and a Capital Adequacy Ratio (CAR) of 17.7 percent for the period.

Advances have slowed slightly since the beginning of the year, and the bank is continuing to monitor the portfolio in the current economic environment as part of its strategy to build a profitable, efficient, and long-term business.

The bank continues to priorities sustainable finance with digital solutions for customers and their ecosystem.

Through its ‘Future Makers by Standard Chartered’ initiative, Standard Chartered continues its efforts to combat inequality and promote economic inclusion for young people in the community.

Standard Chartered has also contributed to the relief and rehabilitation of communities in Pakistan affected by the recent devastating floods.

SCBPL CEO Rehan Shaikh stated that the results for the first three quarters of 2022 clearly reflect strong fundamentals, improved productivity, and good progress toward meeting strategic priorities.

“The results give me confidence that we have the right strategy in place to deliver real value to our clients, our investors and the communities in which we operate. Thank you for the continued trust and to our partners and colleagues for their commitment, passion and hard work to support the Bank in its journey,” he added.

“We are investing heavily in our people, giving associates the skills they need to succeed, bringing expertise in key areas and a more innovative and agile operating model,” Sheikh said, are evolving, as we strive to drive innovation and further enhance our operational efficiency,” commented Shaikh.

He added that the bank’s operational leverage enables it to invest in a number of exciting and potentially transformative initiatives as the bank’s digital pivot continues.

To read our blog on “Standard Chartered announces Winners of #SCWomenInTech Cohort 4,” click here

Share49Tweet31Share9Send
Muhammad Kamal

Muhammad Kamal

Related Posts

to-final-crude-oil-import-deal-pak-russia-will-meet-today
Economy

To final crude oil import deal, Pak & Russia will meet today

by Asad Hassan
March 21, 2023
21st-century Pakistan's economy depend on skilled workers
Economy

21st-century Pakistan’s economy depend on skilled workers

by Huma Gull
March 21, 2023
Sri Lanka gets $2.9bn IMF bailout package in the year 2023
Economy

Sri Lanka gets $2.9bn IMF bailout package in the year 2023

by Huma Gull
March 21, 2023
Russia now supplies more oil to China than Saudi Arabia
Economy

Russia now supplies more oil to China than Saudi Arabia

by Huma Gull
March 21, 2023
chinese-bank-promises-refinance-500-mn-loan-for-pakistan
Economy

Chinese bank promises to refinance $500 mn loan for Pakistan

by Asad Hassan
March 16, 2023

Follow Us

Promoted

upcoming-phones-releases-which-ones-are-worth-waiting-for

Upcoming phones releases: Which ones are worth waiting for?

by Asad Hassan
March 21, 2023
0

Even if 2022 was a fantastic year to release excellent smartphones, 2023 is no less than 2022! In reality, everyone...

hostingwalay-participating-in-cxo-global-summit-expo-in-islamabad

HostingWalay participating in CXO Global Summit in Islamabad

by Asad Hassan
January 18, 2023
0

Everyday living involves the use of technology, and our Pakistani IT entrepreneurs are using their expertise to make their communities...

Gitex makes its debut in Africa, holding its first exhibition in Morocco in May 2023

Gitex makes its debut in Africa, holding its first exhibition

by Bilquees Anwar
November 28, 2022
0

Gitex, Dubai's premier technology exhibition, said on Tuesday that it was expanding into Africa. The first Gitex Africa will be...

Welcome to GITEX GLOBAL

Are you ready for the biggest tech event? GITEX Global

by Bilquees Anwar
September 2, 2022
0

As the year started with the global tech rout, ongoing inflationary concerns, and the recent rebound, yet the tech industry...

Recent News

Mohali Stadium may not host ICC ODI World Cup 2023

Mohali Stadium may not host ICC ODI World Cup 2023

March 26, 2023
Punjab has finally announced Ramadan hours for all offices

Punjab has finally announced Ramadan hours for all offices

March 26, 2023
What impact will rising prices have on Ramadan celebs?

Impact will rising prices have on Ramadan celebs

March 26, 2023
IBA warns against removing boxing from Olympics

Boxing Assoc. warns against removing it from Olympics

March 25, 2023
Senate requested Radio Pakistan to clear outstanding debts

Senate requested Radio Pakistan to clear outstanding debts

March 25, 2023
leak-of-chatgpt-conversation-history-confirmed-by-openai

Leak of ChatGPT conversation histories confirmed by OpenAI

March 25, 2023
Currently Playing

Presence of Pakistan, Connexion Lounge sponsored by @MinistryofITTelecomPakistan @GitexTechWeek

Presence of Pakistan, Connexion Lounge sponsored by @MinistryofITTelecomPakistan @GitexTechWeek

00:01:40

#ITCN Asia ’22 | 21st International IT and Telecom Show | Curtains Opened | TechX Pakistan

00:05:28

London Tech Week 2022 Highlights | #Pakistan #Software

00:02:58

#Zindigi Future Fest ’22 Curtains Opened | Day 01 Glimpses | Tour | TechX Pakistan

00:03:13

Wait is Over, ITCN Asia Pakistan Tech Fest 2022 is live now!

00:01:44

CXO Meetup Dubai by Tech Destination Pakistan - P@SHA x PSEX x MoITT

00:02:41

Workshop on IT Investment Opportunities by Tech Destination Pakistan

00:00:56

Pakistan Pavilion at GITEX Dubai 2021

00:01:39

#GITEX 2021 Curtains Opened | Day 01 Glimpses | 5G | Technology | Tour | TechX Pakistan

00:01:33

GITEX Technology Week 2020 by TechX Pakistan - Official Media Partner

00:01:27
TechX Pakistan | Startups | FinTech | Crypto | EdTech | Reviews

In 2019, Mohammad Owais took the initiative of launching the TechX Pakistan. It is a blog project by assessing the gap in Local Technology & Social blogging. It has one simple goal of creating awareness about latest technological development in the world and especially in Pakistan. We break news, cover interviews, seminars and exhibitions locally and internationally both, related to IT Startups, IT best practices, Businesses, Automobiles, Smartphone Technology and Social Media.

© 2019 - 2023 TechX.PK - All Rights Reserved

No Result
View All Result
  • Home
  • News
  • Premium Content
  • How To
  • Advertisement
  • Contact
  • About

© 2019 - 2023 TechX.PK - All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version