Monday 18, September 2017 by William Mullally

Ithmaar Bank’s retail banking subsidiary in Pakistan, Faysal Bank Limited, reports growing profits

“Despite increasingly challenging market conditions, with the Pakistan economy experiencing low interest rates as well as low exports, and foreign exchange reserves also declining and bringing the Karachi Interbank Offer Rate (KBOR) to record lows, the Bank has reported improved results,” he said. “To address these harsh economic realities, FBL has repositioned its strategy by mobilising low cost deposits, increasing recovery efforts from delinquent clients and enforcing strict control over administrative expenses,” said Abdul Rahim.

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