Latest news with #RehanShaikh
Business Recorder
3 days ago
- Business
- Business Recorder
Standard Chartered, Emirates ink MoU
KARACHI: Standard Chartered Pakistan and Emirates have entered into a strategic partnership by signing a Memorandum of Understanding (MoU). The collaboration offers significant benefits to Standard Chartered Credit Card holders, special fares on tickets purchased online through the Emirates website. Additionally, customers can opt to split their payments into convenient monthly instalments of up to 12 months. The partnership further solidifies Standard Chartered's position as the premier wealth advisory bank in the country and as the trusted banking partner for global corporations operating in the region. It further underscores the Bank's commitment to providing exceptional services and benefits to its clients. The MoU was signed by Rehan Shaikh, CEO and Head of Coverage, Standard Chartered Pakistan and Mohammed Alhashmi, VP for Pakistan, Emirates. Also present at the signing ceremony were senior management officials from both companies including Saadya Riaz, Head Wealth & Retail Banking, SC Pakistan and Ashfaq Shah, Corporate Sales Manager – Pakistan from Emirates. Rehan Shaikh, commented on the partnership said that this strategic alliance with Emirates is a significant milestone in our mission to deliver superior value and convenience to our clients. 'This collaboration not only strengthens our market position but also exemplifies our commitment to fostering strong partnerships that drive innovation and growth in the banking sector', he added. Mohammed Alhashmi, VP for Pakistan, Emirates said that Emirates has a special relationship with Pakistan where we have been operating since 1985 and, in partnering with a leading bank operating in the country, we hope to expand our customer base further. The incentives we are providing to Standard Chartered customers will allow them to experience our premium travel proposition while enjoying added-value, he added. Copyright Business Recorder, 2025
Business Recorder
15-05-2025
- Business
- Business Recorder
Tech Accelerator: Standard Chartered Pakistan launches ‘7th Cohort of Futuremakers Women'
KARACHI: Standard Chartered Pakistan, launched the 7th Cohort of the Futuremakers Women in Tech Accelerator in partnership with INNOVentures Global (Pvt) Limited. This accelerator was first launched in Pakistan in 2019 and was designed to address gender disparity in the technology sector. This initiative not only supports innovative business ideas but also addresses the financial barriers women often face in launching and scaling their ventures. By offering tailored mentorship and financial backing, Standard Chartered is committed to fostering an ecosystem where women can thrive as successful entrepreneurs, driving economic growth and social change in the country. Futuremakers Women in Tech Accelerator is an integral component of the Bank's entrepreneurship offering within Futuremakers by Standard Chartered, a global initiative to tackle inequality and promote economic inclusion. Commenting on the launch, Rehan Shaikh, Chief Executive Officer, Standard Chartered Pakistan said that the launch of Cohort 7 of the Standard Chartered Women in Tech Accelerator reflects our commitment to create equitable opportunities and advance financial inclusion for women in Pakistan. He said that over the past six years; this programme has provided critical funding and focused mentorship to female led businesses. 'To date, out of the 1900+ women led startups that showed interest to apply, more than 143 women founders have graduated, and 43 have received seed funding. Standard Chartered's commitment to expanding women's access to entrepreneurial finance embodies the core of the bank's Futuremakers strategy,' he added. Copyright Business Recorder, 2025
Business Recorder
15-05-2025
- Business
- Business Recorder
Tech Accelerator: SCP launches ‘7th Cohort of Futuremakers Women'
KARACHI: Standard Chartered Pakistan, launched the 7th Cohort of the Futuremakers Women in Tech Accelerator in partnership with INNOVentures Global (Pvt) Limited. This accelerator was first launched in Pakistan in 2019 and was designed to address gender disparity in the technology sector. This initiative not only supports innovative business ideas but also addresses the financial barriers women often face in launching and scaling their ventures. By offering tailored mentorship and financial backing, Standard Chartered is committed to fostering an ecosystem where women can thrive as successful entrepreneurs, driving economic growth and social change in the country. Futuremakers Women in Tech Accelerator is an integral component of the Bank's entrepreneurship offering within Futuremakers by Standard Chartered, a global initiative to tackle inequality and promote economic inclusion. Commenting on the launch, Rehan Shaikh, Chief Executive Officer, Standard Chartered Pakistan said that the launch of Cohort 7 of the Standard Chartered Women in Tech Accelerator reflects our commitment to create equitable opportunities and advance financial inclusion for women in Pakistan. He said that over the past six years; this programme has provided critical funding and focused mentorship to female led businesses. 'To date, out of the 1900+ women led startups that showed interest to apply, more than 143 women founders have graduated, and 43 have received seed funding. Standard Chartered's commitment to expanding women's access to entrepreneurial finance embodies the core of the bank's Futuremakers strategy,' he added. Copyright Business Recorder, 2025
Business Recorder
05-05-2025
- Business
- Business Recorder
SCP awarded $130m banking mandate by Siemens Energy
KARACHI: Standard Chartered Pakistan has been awarded a comprehensive USD 130 million banking mandate by Siemens Energy approved in January 2025. The mandate covers variety of banking products that further solidify Standard Chartered's position as a trusted banking partner for global corporations operating in Pakistan. The partnership is a testament to the bank's strong network, on-the-ground capabilities, robust digital infrastructure, and a deep understanding of both local and cross-border financial ecosystems. Under the mandate, SC Pakistan will deliver end-to-end solutions tailored to the energy sector's complex operational needs, while also offering bespoke working capital strategies to enhance liquidity and efficiency. In addition, the Bank will provide employee banking services to Siemens Energy's local workforce ensuring a seamless banking experience with access to a range of retail banking products and digital services. The agreement was signed by Rehan Shaikh, CEO and Head of Coverage, SC Pakistan and Nadeem Kazmi, Managing Director of Siemens Energy Pakistan. Present at the signing were senior management officials from both companies including Stella Choe, Global Head Corporate Coverage, Standard Chartered and Imran Saeed, Head of Treasury and Corporate Finance Middle East and Africa, Siemens Energy. Commenting on the agreement, Rehan Shaikh said that Standard Chartered is pleased to undertake this important mandate and partner with Siemens Energy in Pakistan. This agreement reflects our ability to deliver value-added solutions that support our clients' growth and operational needs. Commenting on the agreement, Nadeem Kazmi said that Siemens Energy's decision to award Standard Chartered this important mandate is a testament to their network strength, expertise in innovative solutions and commitment to supporting our business growth. 'We are confident that this partnership will streamline our operations and create lasting value for our stakeholders,' he added. Copyright Business Recorder, 2025
Express Tribune
22-02-2025
- Business
- Express Tribune
Standard Chartered posts Rs100.6b profit
Listen to article Standard Chartered Bank Pakistan Limited (SCBPL) has posted a profit before tax of Rs100.6 billion reflecting a growth of 13% year on year (YoY). Performance was driven by strong income growth of 9% YoY, with positive contributions from all segments. Operating expenses of the bank reached the industry's lowest cost-to-income ratio at 19%, despite high inflation and investments in infrastructure. According to a statement filed at the Pakistan Stock Exchange (PSX), SCBPL said its prudent risk approach and recoveries of bad debts led to a net reversal in impairment of Rs4.9 billion during the year. On the liabilities side, bank's total deposits stand at Rs836 billion; up by Rs116 billion from last year, whereas current accounts registered a growth of Rs37 billion up 10% YoY and comprise 48% of the deposit base, as per the statement. On the asset side, net advances were lower by Rs49 billion or 22% compared to last year. During 2024, the Bank contributed Rs78.9 billion to the national exchequer in lieu of direct income taxes, as an agent of Federal Board of Revenue (FBR) and on account of FED/Provincial Sales Taxes. Commenting on the results, Rehan Shaikh, Chief Executive Officer and Head of Coverage, Standard Chartered Bank Pakistan said with a strong Return on Equity (ROE) of 43% for the year and a Capital Adequacy Ratio (CAR) of 23.5%, the Bank remains well positioned for future growth, as per a statement released by the company. The statement added that on the back of a strong performance, the BoD announced a final cash dividend of 55.0% (Rs5.50/- per share). This is in addition to 35.0% (Rs3.50/- per share) interim cash dividend announced/paid during the year.
