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Daily updates on the Karachi Stock Market, with news, company dividends and KSE-100 index movements.The rollercoaster of a day trader's dream /nightmare riding the KSE-100 index. More than 850 posts and counting ...

7,059

June 12, 2009

News : The State Bank of Pakistan (SBP) is to rescue the Bank of Punjab (BoP) by providing Rs 10 billion as bridge financing, as the bank has been unable to comply with the regulatory Capital Adequacy Requirement (CAR) of 9 percent as on December 31, 2008….The BoP is presently facing a shortfall of about Rs 20 billion to comply with the regulatory terms and conditions. Sources said that the State Bank had extensive deliberations with Punjab government on this serious regulatory lapse, and the later agreed to inject Rs 10 billion to strengthen the capital requirements of the bank…Aaj News

Market Low : 7,039.62 High : 7,138.17

Market Close : 7,059.48 — 32.48 points down

Posted in Daily Market News, Banks |

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