Faysal Bank posts 67pc growth in profit

pr Faysal Bank Limited (FBL) achieved the landmark of Rs 1 trillion in Balance Sheet footings with a record Profit Before Tax of Rs 22 4 billion 67% higher than the last year The Board of Directors of FBL, in their meeting held on February 23 2023 approved the financial statements of the Bank for the year ended December 31, 2022 and announced final cash dividend of Re 1 per share i e 10% bringing the total cash dividend for the year to Rs 7 per share or 70%

The Bank has successfully completed the largest conversion of a Conventional Bank into an Islamic Bank in history This is a testimony to the steadfast vision of its Board the devotion of its management, the perseverance of its staff and support of customers This massive Islamic conversion is unprecedented not just in Pakistan but all around the world and has been recognized by Islamic International Rating Agency (IIRA) as the largest in the world FBL achieved the landmark of Rs 1 0 trillion mark in balance sheet footings on the back of strong deposit mobilization and borrowings

FrieslandC ampina, Engro Eximp FZE par tner for dair y expor ts

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FrieslandCampina Engro Pakistan (FCEPL) and Engro Eximp FZE (EEF) signed a Franchise Agreement to enhance dairy exports from Pakistan

In line with FrieslandCampina’s global purpose of nourishing by nature, this partnership will enable FCEPL to expand its global footprint Together, FCEPL and EEF will serve the Pakistani diaspora and markets which are milk-deficient as well as uplift the dairy farmer community of Pakistan Imran Husain, CFO and strategic supply chain director FCEPL, said: This partnership will unlock a new chapter for FCEPL and our farmers Growing our export base will help further our purpose of providing nutrition and improving livelihoods of our farmers while bringing in foreign currency earnings for Pakistan, which is essential in the current economic situation