News Update Times

Lahore (Muhammad Yasir) Tetra Pak asserted its commitment towards sustainability and ensuring a greener environment at the Euro Village 2022 gala recently organized by the European Union in Islamabad. Participating at the Euro Village 2022 event served as an ideal opportunity for Tetra Pak to highlight its approach to sustainability which is shaped by its promise of protecting what’s good and its commitment to making food safe and available, everywhere. As a reflection of practically implementing this approach, a swing set for children which was completely manufactured by recycled Tetra Pak packaging material was also placed at Tetra Pak’s designated booth which reiterated the fact that Tetra Pak is taking practical steps towards realizing its sustainability vision.

Notable dignitaries, including the Swedish Ambassador to Pakistan, H.E. Henrik Person, also visited the Tetra Pak booth and were greeted by company representatives. They were delighted to learn more about Tetra Pak’s achievements within the sustainability realm and its commitment towards a low-carbon circular economy.

During his visit, the Swedish Ambassador to Pakistan, H.E. Henrik Person said, “I am very happy to be visiting this installation made by a Swedish company Tetra Pak, which is a leading company in packaging, as well as, sustainability. Tetra Pak is making sure that the used cartons are recycled to make items for other purposes. This is of course a very fun purpose to make a swing set for children made out of Tetra Pak cartons. I will encourage all consumers to support recycling of cartons as much as possible, Tetra Pak will do the rest to ensure that we are working towards a sustainable future.”

Tetra Pak Pakistan also made special arrangements to apprise the audience about its local partnership with Green Earth Recycling, which started in 2014 and since then has been successfully achieving increasing recycling targets every year by collecting and recycling packaging waste into sellable products such as garden furniture, school desks, roofing solutions, and much more. Visitors were also pleased to learn that in 2021, Tetra Pak Pakistan achieved a recycling rate of over 42% of its produced cartons, while the goal for 2022 is to increase this volume and recycle around 27,000 tonnes of beverage cartons.

The Euro Village is an annual cultural event organized in different countries with the purpose of highlighting the visibility and impact of the European footprint around the world. The event is conducted as a fun-filled evening with a range of family-centric cultural and entertainment activities that help to enhance mutual interactions between the locals and everyone else that represent team Europe. Highlights of this event include European stalls, a live musical concert, culture and information booths, along with lots of food and fun-based activities.

Karachi (Muhammad Yasir) NdcTech, a global IT and consulting company providing transformational services for the banking sector and a long-standing partner of Temenos has recently won the Best Sales Partner Award at Temenos MEA Annual Sales and Partner Summit 2022 owing to its exceptional sales capabilities.  

The best sales partner award recognizes NdcTech’s strong footprint in the MEA region and ability to penetrate into new markets and geographies while providing value-added services to Banks & Financial institutions in the region.

On this occasion, Ammara Masood, CEO, NdcTech said: “We are thrilled to be recognized as the best sales partner among other regional and global partners of Temenos. Together with Temenos, we have been able to create value for our clients and successfully transform the banking sector around the world. We aim to foster this partnership and capture new markets to become the best sales partner of Temenos across the globe.”

This year, NdcTech participated as the bronze sponsor in the Temenos MEA Annual Sales & Partner Summit which brought all partners of Temenos under one roof and provided networking opportunities to all delegates. Our experts met with the senior management of Temenos and showcased NdcTech’s unmatched offerings for the banking sector. NdcTech now plans to expand its avenues with the wide recognition it has garnered in the market by winning the Best Sales Partner Award.

NdcTech is currently serving over 115 clients in the Middle East, Africa, & APAC region.

Pakistan (Muhammad Yasir) With the entire country standing in unison to aid rehabilitation efforts in flood-affected regions of Pakistan, Mondelez Pakistan Limited, being one of the country’s leading socially responsible corporate entities has played its part by contributing over 100,000/- USD in cash along with in-kind donations to support families in building their homes and livelihoods once again. To ensure that our contribution have been given to the right impacted people, Mondelez Pakistan Limited has partnered with Akhuwat and Pakistan Red Crescent Society (PRCS), both leading institutions in the country working round the clock to facilitate affected people in Pakistan.

Recent flooding across Pakistan affected more than 33 million families and there is a lot more that still needs to be done to return these people to their normal lives. In playing its part, Mondelez Pakistan Limited has disbursed cash donations as well as supplies including clothes, medical supplies, food and a variety of other necessary items to continue facilitating people and their journey towards rehabilitation. The donations will be channeled to assist not just in reconstruction of homes but also to provide sustainable avenues for families to rebuild what they’ve lost and to provide for their loved ones.  

Commenting at the occasion, Mr. Sami A. Wahid – Managing Director, Mondelēz Pakistan Limited has stated; Mondelez Changemakers is our global community involvement program that closely ties to Snacking Made Right and allows us to make an impact by giving back to community. These are trying times for a significant chunk of the population of Pakistan and People have lost their homes, livelihood and loved ones. Although flood waters are receding across the country, there is a lot that still needs to be done. As a nation and more importantly as an empathetic social entity, we at Mondelez Pakistan Limited are pleased to play a role with our partners doing the same for rehabilitation initiatives being carried out across the country.”

While expressing his gratitude, Mr. Kanwar Waseem, PRCS Provincial Secretary thanked Mondelez Pakistan for standing with the people of Pakistan in these testing times. He also added, “The unprecedented floods have played havoc across the country. We need joint efforts for alleviating the sufferings of the flood victims and need speedy compensation for those families who had lost their loved ones and whose property had been damaged during the floods.”

Dr. Amjad Saqib, Founder of Akhuwat also appreciated the contributions of Mondelez International and said “I offer my heartfelt gratitude towards Mondelez Pakistan for their cash and in-kind donation. In this hour of difficulty, the responsibility falls on everyone to share the pain and suffering of the flood victims while also helping them with their difficulties. As a nation, we must work together to rebuild and rehabilitate families from flood affected areas across the country.”

Mondelez Pakistan Limited is organizing extensive efforts to support all flood affected families, including its own employees, who have suffered on account of these unprecedented floods.

foodpanda organizes Road Safety Awareness session with Islamabad Capital Territory (ICT) Traffic Police for delivery riders

PAKISTAN (MUHAMMAD YASIR)  Keeping up with its commitment of prioritizing the safety and well-being of its fleet, foodpanda recently organized a road safety awareness session for its riders, which was conducted by the Islamabad Capital Territory (ICT) Traffic Police.

The session was followed by a talk from the SSP ICT Traffic Police Dr Mustafa Tanveer. The training aimed at ensuring that all riders strictly follow the traffic rules and drive with more responsibility and care, not only for their own safety but also for the safety of all drivers and pedestrians on the roads.

Speaking on the occasion, Hassan Arshad, Director Policy & Communications at foodpanda Pakistan, stated that delivery riders spend a lot of time on roads and at all hours, making it essential that they are adequately coached on safe driving practices. “We believe that road accidents are entirely preventable and more sessions like these to be organized to train the riders all over the country as the company is cognizant of its responsibility in mentoring its delivery riders.” He further added.

 

Karachi (Muhammad Yasir)  Standard Chartered Bank Pakistan Limited (SCBPL) delivers record profit before tax of PKR 36.4 billion, registering an increase of 98 per cent year on year. Performance was driven by strong income growth, as well as continued cost and risk discipline.

Overall revenue grew by 70 per cent to deliver a top-line of PKR 45.1 billion, with positive contributions from all segments. Despite a high inflationary environment and continuous investments in our infrastructure, operating expenses continue to be well managed through efficiencies and disciplined spending with an increase of 12 per cent from the same period last year. Moreover, reversal of Covid-19 general provision, coupled with lower impairments and strong recoveries led to a net release of PKR 1.5 billion during the period against a net release of PKR 0.8 billion in loan impairments in the comparative period.

With a diversified product base, the Bank stands well positioned to cater for the needs of its clients. On the liabilities side, the Bank’s total deposits grew by PKR 108.0 billion (up 17%), whereas current and saving accounts increased by PKR 119.0 billion (up 21%) since the start of this year and comprise 95% of the deposit base. Advances declined marginally since the start of this year and the Bank continues to monitor the portfolio in the prevailing economic environment as part of its strategy to build a profitable, efficient, and sustainable business.

The external environment remains challenging; however, we remain fully committed to delivering a sustainable growth for our shareholders, bringing the best-in-class services and solutions for our clients and playing our part in the growth story of Pakistan. Standard Chartered continues to make good progress against its strategic priorities. The global network differentiates the Bank for its clients, bringing forth innovative solutions, product specialisation and structured offshore offerings. At all times the Bank strives to maximise the contribution to State Bank’s initiatives. In line with the State Bank’s efforts on financial inclusion, with enhanced digital offering, Standard Chartered is now able to reach more clients across the country and provide them with convenience of opening accounts as well as subscribing to products and banking services online. Overall, the Bank’s transformation journey stands well-curated, closely aligned with the Pakistan’s landscape and helping lift participation through digitization.

Sustainable finance along with digital solutions for clients and their ecosystem stay as areas of keen focus for the Bank. The Bank continues efforts under its initiative ‘Futuremakers by Standard Chartered’ initiative to tackle inequality and promote greater economic inclusion for young people in the community. Standard Chartered has also contributed towards emergency relief and rehabilitation of communities impacted by the recent floods that have caused devastation in Pakistan.

Commenting on the results, Mr. Rehan Shaikh, Chief Executive Officer, Standard Chartered Bank (Pakistan) Limited said, “I am pleased to share our results for the first three quarters of 2022 which clearly reflect strong foundations, enhanced productivity and good headway towards achieving our strategic priorities. The results give me the confidence that we have the right strategy to deliver real value to our clients, our investors and the communities where we operate. I am thankful to our clients and business partners for their ongoing trust in our capabilities and to our associates and colleagues for their commitment, passion and hard work in supporting the Bank in its journey.

We are investing heavily in our people, giving colleagues the skills they need to succeed, bringing in expertise in critical areas and evolving to a more innovative and agile operating model, as we strive to drive innovation and increase our operational efficiency further. This operational leverage allows us to create capacity to invest in the many exciting and potentially transformational initiatives as the Bank’s pivot to digital continues.

The external environment remains challenging; however we remain fully committed to delivering a sustainable growth for our shareholders, bringing the best in class services and solutions for our clients and playing our part in the growth story of Pakistan.”

With a strong Return on Equity (ROE) of 23.5% for the period and a Capital Adequacy Ratio (CAR) of 17.7%, the Bank remains well positioned for future growth.

 

Pakistan (Muhammad Yasir) The Board of Directors of Soneri Bank Limited, in their 194th meeting held in Karachi on 27th October 2022, approved the Bank’s condensed interim financial statements for the nine months ended 30 September 2022.