COMPANY NEWS.

BankIslami Pakistan Limited announced its financial results for the year ending December 31, 2022, declaring a remarkable growth of 142pc in profit before tax, i.e. Rs8.23bn compared to Rs3.39bn during last year, says a press release.

Profit after tax closed at Rs4.44bn as compared to Rs2.13bn closed during last year, i.e. growth of 108pc despite a significant increase in tax rates. The year 2022 was a great success for BankIslami, where it achieved the highest-ever profitability and announced its first-ever dividend of 10pc to its shareholders.

SLIC's record numbers

Under the leadership of Shoaib Javed Hussain, Chairman of State Life Insurance Company (SLIC), the company delivered the strongest business numbers in its history and grew its premium revenue to Rs279bn billion, increasing by 64pc from last year, according to a press release. The new business was Rs173bn, increasing by over 161pc from 2021. The category of 'Individual Life' recorded the highest-ever premium collection since inception, and 'Group Life and Health' reported record numbers of bringing in new business.

New OICCI chief

Mr Amir Paracha, Chairman and CEO Unilever Pakistan Limited, has taken over as the president of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2023 term. This was announced at the 163rd Annual General Meeting of the OICCI held at the Chambers on Tuesday, February 28, 2023, as per a press release. Rehan Muhammad Shaikh, CEO of Standard Chartered Bank (Pakistan) Limited, was elected as the vice president.

Top performer ZEM Builders

According to a press release, ZEM Builders, a leading player in the real estate industry, has emerged as a top performer and awarded a Toyota REVO to a respected client in the recently concluded Peshawar InterAnational Property Expo and Convention held from 17th to February 19, 2023, at Marbella Cave Marquee, Warsak Road - Peshawar. The expo is attended by thousands of visitors and brings together the business elite, senior members of prestigious companies, social personalities...