Allied Bank

Type: Company
Name: Allied Bank
First reported Apr 16 2014 - Updated Apr 16 2014 - 1 reports

Funeral prayer of Punjab police cop offered

The funeral prayer was attended by AIG (Operations) Sultan Azam Temuri and other senior police officials who saluted to the gallant constable Abrar of Punjab police over his brave act to foil dacoity attempt at Allied Bank Limited in Tarnol police area. ... [Published Frontier Post - Apr 16 2014]
First reported Apr 15 2014 - Updated Apr 15 2014 - 1 reports

Roundup: KSE ends flat as consolidating continues

by Jawad HussainPakistan's Karachi Stock Exchange (KSE) ended almost unchanged on Tuesday on healthy turnover of 15.8 billion rupees (164.32 million U.S. dollars), as some profit-taking in oil companies including the giant Oil and Gas Development Company ... [Published Individual.com - Apr 15 2014]
First reported Apr 14 2014 - Updated Apr 14 2014 - 1 reports

ZSE Industrials sink to more than 1-year low

ZSE's Industrials Index plunged to its lowest level since January 2013 on Monday as heavyweight counters continue to trade southwards but daily market turnover stayed above the psychological $1 million level.The Industrials Index closed 1.31 points or ... [Published Business Daily - Apr 14 2014]
First reported Apr 14 2014 - Updated Apr 14 2014 - 1 reports

Designated banks to start receiving

ISLAMABAD: The designated online branches of six scheduled banks would start receiving government scheme Haj applications from April 21, said an official of the Ministry of Religious Affairs and Interfaith Harmony. Talking to APP, he said the erstwhile ... [Published The News International - Apr 14 2014]
First reported Apr 13 2014 - Updated Apr 13 2014 - 1 reports

Biz Buzz: Winning streak

They say good things come in pairs or threes but the transportation department—which is the one agency now that needs a positive lift as Metro Manila commuters simmer on MRT’s woes—has been defying those averages.Over the past two weeks it has signed ... [Published Philippine Daily Inquirer - Apr 13 2014]
First reported Apr 11 2014 - Updated Apr 11 2014 - 1 reports

Mugabe Re-Election Economic Albatross

WHEN President Robert Mugabe and his Zanu PF party won the 2013 July general elections, their major task was to revive an economy which was already showing signs of distress in the run up to the polls.And after the announcement of Mugabe and his party's ... [Published AllAfrica.com - Apr 11 2014]
First reported Apr 04 2014 - Updated Apr 04 2014 - 2 reports

Zimbabwe Allied Boss Steps Down

Allied Bank CEO Stephen Gwasira and the institution's head of retail banking Herbert Ncube have stepped down from their positions a month after a consortium of former Wall Street bankers took ... ... [Published Big News Network - Apr 04 2014]
First reported Apr 01 2014 - Updated Apr 01 2014 - 1 reports

Allied Bank : Struggling Allied Bank sees bright future

TROUBLED Allied Bank is pinning its survival hopes on the implementation of the government economic blueprint, Zimbabwe Agenda for Sustainable Socioeconomic Transformation (ZimAsset) and further easing of economic sanctions declaring that is will emerge ... [Published 4 Traders - Apr 01 2014]
First reported Mar 27 2014 - Updated Mar 27 2014 - 2 reports

Mpofu's Riches Under Spotlight

TRANSPORT and Infrastructural Development Minister, Obert Mpofu (pictured), is under renewed pressure to reveal his source of wealth after firebrand ZANU-PF Hurungwe West Member of Parliament, Temba Mliswa, repeated calls at a public forum for the Umguza ... [Published AllAfrica.com - Mar 27 2014]
First reported Mar 22 2014 - Updated Mar 22 2014 - 3 reports

ABLs Rs1 million cheque to LCCI

LAHORE: Allied Bank of Pakistan on Friday presented a cheque of Rs1 million for the Second LCCI OIC Ambassadors and Trade Conference. LCCI president Sohail Lashari received the cheque from Khawaja ... ... [Published Big News Network - Mar 22 2014]
Entities: Allied Bank, Lahore
First reported Mar 22 2014 - Updated Mar 22 2014 - 2 reports

Agri credit disbursement up by 11pc

KARACHI: The agriculture credit disbursement by banks increased by 11 percent to Rs218.3 billion in the eight months of the current fiscal year as against the credit of Rs196.1 billion disbursed during the same period of the last fiscal year, according ... [Published The News International - Mar 22 2014]
First reported Mar 19 2014 - Updated Mar 19 2014 - 3 reports

Al Ansari Exchange Launches Latest Promotion For Money Transfers To Pakistan

[UAE, March 19, 2014] – Al Ansari Exchange, a UAE based foreign exchange and worldwide money transfer company, has announced its latest reward program “Pakistan Promotion 2014” in partnership with National Bonds Corporations (NBC), and Allied Bank in ... [Published Dubai City Info - Mar 19 2014]

Quotes

"A legacy of mediocrity and corruption built by some of these cabinet ministers over the years is very difficult to shake off" Mugaga said
"Furthermore, sales of consumer goods were reported to have declined by 25-30% during the month, reflecting intensification of the liquidity crisis in the economy" reads part of the treasury report
An internal memo seen by businessdigest to all staff dated April 1 reads: "This serves to advise that the bank's chief executive officer, Stephen Gwasira and the head of retail banking, Herbert Paul Ncube retired from their positions effective March 31 2014."
...for the year ending December 2013 , the bank's chief executive officer Stephen Gwasira expressed optimism that the bank has a bright future. "The successful implementation of ZimAsset and the softening of sanctions by the European Union should see a growth in the national economy, thereby presenting business growth opportunities for the bank. "The bank will introduce a number of products that will exploit the opportunities presented thereby enhancing value for our customers. "The bank has a great future ahead of it" Gwasira said. He added: "The recently announced monetary policy provided clarity on regulatory minimum capital requirements and this has helped speed up the current discussions with potential investors. "The bank currently is below the set minimum requirement. The finalisation of the capital transaction will see Allied Bank complying with the set capital requirements of the current $25 million and subsequently $100 million by 2020." Gwasira said the bank's capitalisation and liquidity plan is structured in such a way that both capital and liquidity will be enhanced resulting in new products anchored on the banks' increased capacity. As at December last year, total assets for the bank dropped 15% to $42,82 million compared $40,89 million in the previous year. "This is largely attributed to subdued volumes arising from diminished capacity to lend precipitated by liquidity challenges. Significant efforts were made to reduce costs and grow revenue, which saw income increasing to $4,4 million from $3,9million in 2012," Gwasira said. "This translated to an operational loss of $3,1 million in 2013 compared to operational loss of $4,1 million in 2012." Transport and Infrastructural Development Minister Obert Mpofu acquired nearly 100% shareholding in Allied Bank , previously known as the Zimbabwe Allied Banking Group , about two years ago when one of his investment vehicles, Trebo and Khays (Pvt) Ltd , injected over $20 million to rescue the struggling bank. Local banks are crafting recapitalisation plans for consideration by the Reserve Bank of Zimbabwe . The formulation of the recapitalisation policies is being made after the extension of the $100 million minimum capital levels for banks to 2020 as monetary authorities seek to facilitate a safe and strong financial industry. Nqobile Bhebhe Chief Reporter"

More Content

All (87) | News (71) | Reports (0) | Blogs (1) | Audio/Video (0) | Fact Sheets (15) | Press Releases (0)
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Robbers kill cop during bank heist in D-17 [Published The News International - Apr 16 2014]
Funeral prayer of Punjab police cop offered [Published Frontier Post - Apr 16 2014]
Roundup: KSE ends flat as consolidating continues [Published Individual.com - Apr 15 2014]
ZSE Industrials sink to more than 1-year low [Published Business Daily - Apr 14 2014]
Designated banks to start receiving [Published The News International - Apr 14 2014]
Biz Buzz: Winning streak [Published Philippine Daily Inquirer - Apr 13 2014]
Mugabe Re-Election Economic Albatross [Published AllAfrica.com - Apr 11 2014]
Mugabe re-election economic albatross - The Zim... [Published 4 Traders - Apr 11 2014]
Six SOEs' divestment timeline may not be met: P... [Published Business Recorder - Apr 10 2014]
KSE index up 74 points on renewed interest in o... [Published The News International - Apr 09 2014]
Double Shah returns: Comments sought from SHO o... [Published The Express Tribune - Apr 05 2014]
Zimbabwe Allied Boss Steps Down [Published Big News Network - Apr 04 2014]
Foreign Investors Swoop on Local Banks [Published AllAfrica.com - Apr 04 2014]
Zimbabwe: Allied Boss Steps Down [Published AllAfrica.com - Apr 04 2014]
Companies suffer heavy losses as economy stutters [Published Daily News Zimbabwe - Apr 04 2014]
Loan Week, March 28 - April 3 [Published Finance Asia - Apr 03 2014]
Govt seeks financial adviser for sale of 88pc N... [Published The News International - Apr 03 2014]
April 3 is last date for AIOU admissions [Published Online News Pakistan - Apr 02 2014]
Only 10 multinationals among top taxpayers [Published The News International - Apr 01 2014]
Allied Bank : Struggling Allied Bank sees brigh... [Published 4 Traders - Apr 01 2014]
Obert Mpofu's Allied Bank needs to get investment [Published Bulawayo24 News - Mar 31 2014]
Weekly review: KSE-100 gains 350 points as bank... [Published The Express Tribune - Mar 29 2014]
Al Ansari Exchange launches latest promotion fo... [Published Web-Release.info - Mar 29 2014]
Indigenisation: Pie in the sky [Published Financial Gazette - Mar 27 2014]
Mpofu's Riches Under Spotlight [Published AllAfrica.com - Mar 27 2014]
Mpofu’s riches under spotlight [Published Financial Gazette - Mar 27 2014]
The Freedom Tower skydivers weren’t the first: ... [Published Washington Post - Mar 25 2014]
Mining Development Fund looted during Mpofu’s t... [Published SW Radio Africa - Mar 25 2014]
Strategic choice: Tsvangirai for 2018 [Published New Zimbabwe.com - Mar 25 2014]
Banks disburse higher agriculture loans in past... [Published 4 Traders - Mar 24 2014]
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