Pakistan News

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  • All-round Gul reaches peak fitness in HBL's rout of Lahore

    A fit-again Umar Gul put in an all-round performance to give Habib Bank an innings and 56-run win over Lahore Whites in the Quaid-e-Azam Trophy Pool B match at the Lahore City Cricket Association Ground on Wednesday...

    The 31-year-old paceman, who last played for Pakistan in April this year after coming back from an ankle injury, took 9/89 and scored 61 off 72 balls in Habib Bank's rout of Lahore...

  • Govt to sell off its HBL stake for $1.02bn

    ISLAMABAD: The government will rake in over $1 billion by selling its 609-million-share stake in Habib Bank Ltd (HBL), a deal that would surpass the equity capital market transactions of OGDCL ($813m) and PTCL ($898m)...

    The HBL’s capital market transaction would help boost country’s foreign exchange reserves, stabilise economy, reduce inflation, strengthen currency, besides bringing positive impact to discount rate and reducing the...

  • HBL share sales

    The government is to be congratulated on the success of the sale of its stake in HBL, but some questions remain...

    5pc shares in HBL, the country’s largest commercial bank...

  • 501 players make it to HBL PSL draft

    Teams have already retained nine players each and will go into the HBL PSL Player Draft to pick one player from the Platinum category, one from the Diamond category, one from the Gold category, two players from the Silver category and two players from the Emerging stars pool, in order to complete their squad of 16...

  • HBL to close New York branch as US authorities seek to impose $630 million penalty

    The bank has decided to contest in US courts the notice sent by New York State Department of Financial Services (DFS) about the imposition of a civil monetary penalty amounting to $629,625,000, read a letter filed by HBL to Pakistan Stock Exchange, a copy of which is available with Dawn...

    The case stems from 2015, when US authorities moved against the bank after finding deficiencies in the risk management and Bank Secrecy...

  • HBL CEO Nauman K. Dar bows out

    KARACHI: Habib Bank Ltd (HBL) President and CEO Nauman K...

    His term at the helm of the country’s largest bank was marred by a penalty of $225 million that the New York State Department of Financial Services (DFS) recently imposed on HBL for its non-compliance with risk management and anti-money laundering rules...

  • Tough day for HBL, UBL in Quaid Trophy

    KARACHI: United Bank Limited (UBL) and Habib Bank Limited (HBL) were in for rude shocks on Sunday as their respective rivals had them on the run at the start of the round four fixtures in the Quaid-i-Azam Trophy National Cricket Championship...

    HBL also found themselves in shambles when the struggling Karachi Whites bundled them out for 137 after opting to bowl first at the NBP Sports Complex...

  • Bankers smell a rat in timing of HBL penalty

    However, the bank has decided to contest all charges, 53 in total, at the hearing of its case at the Department of Financial Services (DFS) on September 27, a source close to HBL said...

    Meanwhile, the SBP said in a statement it is “closely monitoring the situation and finds no imminent risks to HBL operations and Pakistan’s banking industry...

  • HBL vows to fight charges levelled by US regulator

    KARACHI: Habib Bank Ltd (HBL), which is facing a possible penalty of up to $630 million by the US regulators, said on Tuesday it will fight all 53 points included in the charge sheet it has received over suspicious transactions from its New York branch...

    The HBL New York branch came under scrutiny after the bank received last Friday a notice of hearing and statement of charges from the New York Department of State Financial Services...

  • HBL profit drops 94pc after US penalty

    KARACHI: The penalty of $225 million that the US regulator recently imposed on Habib Bank Ltd (HBL) eroded its net profit for January-September by 94 per cent on a year-on-year basis...

    Net profit of HBL for the nine-month period amounted to Rs1...

  • SBP probing the issue of HBL penalty, NA told

    ISLAMABAD: The State Bank of Pakistan (SBP) is holding an inquiry into the circumstances surrounding the $225 million penalty imposed on Habib Bank Ltd’s (HBL) branch in New York City, the National Assembly was told on Tuesday...

    The parliamentary secretary also said that the HBL board of directors was holding its own inquiry into the matter...

  • US Fed slaps partial ban; HBL says its NY branch operational

    The HBL said in a press release, “The orders limit the branch’s growth of its US dollar-clearing business, but the branch is allowed to continue to conduct its current dollar-clearing business...

    Reuters cited the Fed’s recent assessment: “HBL’s risk management had broken down, as well as its compliance with laws such as the Bank Secrecy Act and regulations issued by the US Treasury Department”...

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