Karachi: Standard Chartered Bank Pakistan Limited informed Pakistan Stock Exchange about recommendations made by the board of directors in the meeting held at Karachi on March 03, 2016.
The agenda of the meeting was discussion of audited unconsolidated profit and loss accounts for year ended December 31, 2015, which portrayed a profit of Rs. 9,288,426,000 and earnings per share Rs. 2.40 basic and diluted.
Secondly, the Board discussed audited consolidated profit and loss accounts for year ended December 31, 2015, which portrayed a profit of Rs. 9,430,934,000 and earnings per share Rs. 2.39 basic and diluted.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
The annual general meeting of the company is scheduled to be held on March 30, 2016 at registered office of the company in Karachi.
Further, the share transfer books of the company will remain closed from March 23, 2016 to March 30, 2016 (both days inclusive).
Standard Chartered Bank Pakistan Limited was incorporated in Pakistan on July 19, 2006. It was granted approval for commencement of banking business by State Bank of Pakistan, with effect from December 30, 2006. The ultimate holding company of the Bank is Standard Chartered PLC which is incorporated in England. The Bank commenced formal operations on December 30, 2006 through amalgamation of entire undertaking of Union Bank Limited and the business carried on by the branches in Pakistan of Standard Chartered Bank, a bank incorporated by Royal Charter and existing under the laws of England. The scheme of amalgamation was sanctioned by State Bank of Pakistan vide its order dated December 4, 2006. The registered office of the bank is located in Karachi.
The bank serves retail, corporate and institutional banking customers. Retail banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises. Corporate and institutional banking provides clients with services in trade finance, cash management, lending, securities services, foreign exchange, debt capital markets and corporate finance. It also offers a complete suite of Islamic banking solutions under its Standard Chartered Saadiq brand.
It is engaged in the banking business as defined in the Banking Companies Ordinance, 1962 and has a total number of 130 branches operating in Pakistan as on December 31, 2012. Standard Chartered Bank Pakistan Limited has three subsidiaries all of them incorporated in Pakistan. The subsidiaries are namely Standard Chartered Leasing Limited, Standard Chartered Modaraba and Standard Chartered Services of Pakistan Private Limited
The symbol “SCBPL” is being used by the stock exchanges for the shares of Standard Chartered Bank Pakistan Limited.