NBP donates Rs20m for rations distribution in Karachi


KARACHI-National Bank of Pakistan (NBP) has donated a sum of Rs 20 million for rations distribution in Karachi through the Karachi Relief Trust (KRT). It is one of the many initiatives that NBP plans to take as part of its corporate social responsibility. This CSR initiative is mainly for the poor and less privileged segment of society that have been most affected due to the current COVID-19 lockdown situation. NBP’s donation will help over 6,500 deserving daily wage workers, who have not been able to earn their livelihood during the lockdown. This donation will reach out to over 33,000 individuals assuming an average family size of five. NBP decided to collaborate with KRT, a disaster management volunteer group, because of its impeccable track record.



Soneri Bank announces first quarter results

KARACHI-The Board of Directors of Soneri Bank Limited, in their 176th meeting held in Lahore, approved the Bank’s condensed interim financial statements for the quarter ended 31 March 2020.

The Bank posted profit before tax (PBT) of Rs. 684 million and profit after tax (PAT) of Rs. 407 million for the quarter ended March 2020, as compared to Rs. 1,149 million and Rs. 691 million respectively in the same period last year. The Bank’s EPS was recorded at Re. 0.3696 per share for the current reporting quarter, as compared to Re. 0.6271 for the comparative prior period.

Profit before provisions and taxation was reported at Rs. 1,017 million for Q12020, indicating an impressive growth of 78 percent from the level of Rs. 571 million for the corresponding prior period.

Net Interest Income (NII) was reported at Rs. 2,109 million for Q12020, improving by 6 percent from the level of Rs. 1,996 million for the corresponding prior period. The growth was primarily due to improved volumes as well as spreads.

Non-Interest Income was reported at Rs. 1,168 million for Q12020, improving impressively by 76 percent from the level of Rs. 665 million for the corresponding prior period. The growth was due to increase in foreign exchange earnings and gains earned on securities which improved by Rs. 251 million and 247 million respectively.

Growth in expenses was recorded at 8 percent, as compared to the prior year, with Non-markup expenses reported at Rs. 2,260 million for the quarter ended 31 March 2020.

Net provisions and write offs were reported at Rs. 333 million for Q12020 as against a net reversal of Rs. 577 million in the corresponding prior period, mainly due to reversal in excess of Rs. 700 million in Q12019, and additional impairment charge of Rs. 178 million in Q12020 on the Bank’s equity portfolio, resulting from a constant decline in major stock prices. 

The Bank’s net advances portfolio stood at Rs. 196,785 million as at 31 March 2020, 4 percent lower than the year end 2019 level. Non-performing loans decreased from Rs. 10,903 million on 31 December 2019 to Rs. 10,779 million on 31 March 2020.

Net investments witnessed a volumetric increase of Rs. 7,676 million or 4 percent from the year-end balance of Rs. 177,056 million, ending at Rs. 184,732 million as at 31 March 2020.

Deposits registered a marginal decline of Rs. 440 million or 0.15 percent when compared to 31 December 2019, ending at Rs. 301,643 million as at 31 March 2020.

The Board of Directors recognized and appreciated the efforts of the management in delivering steady performance amidst a challenging environment. In particular, the Board appreciated the services of the Bank’s front line staff, who have helped ensure continuity of services for our customers during the uncertain times following the COVID-19 outbreak.  The Board remains confident that the Bank shall continue to protect and serve the interest of all stakeholders by fulfilling the growing banking needs of our society, and focusing on financial inclusion and customer satisfaction.



Corona Health Services available on Easypaisa


KARACHI-Corona Health Services, one of the most affordable health packages in the country that provides exclusive access to round-the-clock Corona Tele-Doctor Helpline and comprehensive coverage including up to PKR 50,000 in Coronavirus hospitalization charges, is now available on Easypaisa, Pakistan’s leading digital platform. The third-party service is being offered to all Easypaisa customers at lower than market rates.

The Coronavirus outbreak has impacted lives of people in unprecedented ways and is undoubtedly cumbersome for the effected patients and their loved ones. All Easypaisa users can now subscribe for the plan through Easypaisa app and USSD menu (dial: *786*5*4#) from their mobile phones for PKR 1,000, which is 90 percent less than other similar products being offered in the market.

Commenting on the development, M Mudassar Aqil, President & CEO, Telenor Microfinance Bank / Easypaisa, said; “The country is going through a tough humanitarian and economic crisis where health and safety have become top priorities for individuals. We are continuously assessing the situation and looking to offer innovative solutions in collaboration with other companies to ease the burden that our fellow citizens are facing. With the availability of Corona Health Service on Easypaisa, we are giving consumers a convenient support mechanism that they can rely on. We remain committed to serving Pakistan through innovative solutions in this difficult time”.



Docthers partners with govt for launch of Yaaran e Watan


KARACHI-DoctHERs, a digital health platform, has partnered with the Ministry of Health Services Regulations and Coordination and has launched a digital telemedicine matchmaking platform “Yaran-e-Watan”, linking healthcare professionals in the Pakistani diaspora with telemedicine providers to provide free of cost consultations to the Pakistani public during the COVID-19 pandemic. Foreign doctors can now register themselves to volunteer their services at the Yaran e Watan website: http://yaranewatan.gov.pk/. Key telemedicine players like DoctHERs, which have access to thousands of Pakistani patients who need consultations, will enable these overseas doctors to consult with those in need free of cost.

DoctHERs and its partner oladoc.com, an appointment booking platform, will be joining forces here as well to service this demand in line with their overarching strategic partnership.

This commendable effort by the federal government is a golden opportunity for overseas Pakistani healthcare professionals to give back to their country in this time of great need.

Khaqan Sikander, CEO, doctHERs, remarked on the occasion, “There has always been a massive shortage of healthcare professionals in the Pakistani healthcare system and the situation has worsened in this pandemic. As per WHO, there are an estimated 0.82 doctors and 0.57 nurses per 1,000 people in Pakistan. This is worsened by the fact that almost 80% of female doctors that graduate in Pakistan don’t end up practicing medicine due to socio-cultural reasons. DoctHERs was launched in 2015 to address this problem and therefore is very proud to be working with the federal government on this important national issue, that too, in the midst of this global crisis. We salute the brave healthcare professionals around the world who are serving on the frontlines and look forward to supporting them in this fight”.




Realme 6 series is here


LAHORE-Realme Pakistan has confirmed pointing to a Helio G80-powered phone realme 6i. realme 6i is a deal breaker with MediaTekHelip G80 chipset which will be launched at realme’s online launch event. Tune in to watch the live unboxing on realme Pakistan’s facebook https://web.facebook.com/Pakistanrealme/ on 27th March.

Officials have also confirmed the launch of two more 6 series models i.e. realme 6 4GB and 8GB variant & realme Pro paired with 8GB & 128 GB storage will be launched in Pakistan next month.

The realme 6i is a dual-SIM phone that runs Android 10 with Realme UI. It has a 6.5-inch HD+ MiniDrop display with a notch at the top, with an aspect ratio of 20:9 and shielded by Corning Gorilla Glass. The smartphone is powered by an octa-core MediaTekHelio G80 processor under the hood, paired with 3GB and 4GB RAM options. The internal storage options on the realme 6i include 64GB and 128GB, with expandability via microSD card slot.


The smartphone has a rear-mounted fingerprint sensor.