Author Topic: SMBL -- Summit Bank Limited  (Read 39660 times)

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Offline Admin

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SMBL -- Summit Bank Limited
« Reply #-1 on: August 19, 2009, 12:27:25 PM »
All About arif habib bank
« Last Edit: March 30, 2012, 09:19:26 AM by M&M »

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SMBL -- Summit Bank Limited
« Reply #-1 on: August 19, 2009, 12:27:25 PM »

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Re: SMBL -- Summit Bank Limited
« on: August 19, 2009, 12:27:34 PM »
19-Aug-09 AHBL Arif Habib Bank FINANCIAL RESULT FOR THE HALF YEAR ENDED 30/06/2OO9
19-Aug-09 AHBL Arif Habib Bank PROFIT/LOSS BEFORE TAXATION RS. IN MILLION (693.523)
19-Aug-09 AHBL Arif Habib Bank PROFIT/LOSS AFTER TAXATION RS. IN MILLION (568.187)
19-AUG-09 AHBL Arif Habib Bank EPS = (1.14)

Offline Karuli

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Re: SMBL -- Summit Bank Limited
« Reply #1 on: September 30, 2009, 06:16:03 PM »
The Arif Habib Bank Group has now decided to purchase majority shares of the Mybank, and the group has also finalised details for purchase of the bank

Offline Karuli

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Re: SMBL -- Summit Bank Limited
« Reply #2 on: September 30, 2009, 06:19:23 PM »
Today AHBL touch Rs.7.90 tomarrow i will buy more 10k inshallah
AHBL bought mybank share@ Rs.8

Offline Karuli

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Re: SMBL -- Summit Bank Limited
« Reply #3 on: October 03, 2009, 04:08:15 PM »
Arif Habib Bank to acquire Atlas Bank 
KARACHI (October 03 2009): Under its expansion plan, after successful acquisition deal with Mybank, Arif Habib Bank has now decided to purchase majority shares of Atlas Bank, sources in banking industry told Business Recorder on Friday. "Negotiations between the management of Arif Habib Bank and Atlas Bank Limited have been initiated for merger and deal is expected to finalise in the next three weeks," sources said.

They said that Arif Habib Bank is keenly interested to enhance its nation-wide operation by acquiring some small banks, beside launching of new branches in major cities and rural areas. Sources said that Arif Habib Bank is keen to purchase majority shares of Atlas Bank and formal negotiation between the two parties were in progress for last few days.

They said Atlas Bank is faced with serious liquidity problems for last one year and failed to raise fresh deposits despite several efforts. It has also been unable to meet the State Bank's Minimum Capital Requirement (MCR). "Yes, we are negotiating with Atlas Bank for acquisition of 58 percent shares, and it is expected that the deal would be finalised by the end of this month," said a high official of Arif Habib Bank.

He said that the bank management is planning to expand its operation across the country and under expansion plan it has decided to acquire majority shares of small or financially weak banks. "If our deal would be successful with Atlas Bank, the branches of Arif Habib Banks would reach 160 and on branches basis it would be seventh or eighth largest bank of the country," he added.

He said that Arif Habib Banks would not conduct due diligence for the acquisition of Atlas Bank as already it has been done in the past by three different parties, "and right now there is no more need of new due diligence". On the request of Atlas Bank the central bank has already granted eleven months' extension for MCR, they said, and added that at present sponsors of Atlas Bank are working on the best way forward to successfully meet the minimum capital requirement extension of November, 2009.

Atlas Bank is trying for a merger for last eight to nine months. However, it has been unable to finalise any deal with local banks and about three times deal has been rejected by buyers including Askari Bank and KASB Bank. Sources said that Atlas Bank paid up capital is at about Rs 5 billion and it has to meet MCR of Rs 6 billion by end of December 2009 set by the central bank.

However, it is a difficult task for the bank management due to slow deposit growth. Sources said that the merger of Atlas and Arif Habib Bank would be another major development in Pakistan's banking industry. Atlas Bank is a company of Atlas Group, with equity of Rs 3.41 billion and assets base of Rs 30.40 billion. It is partnered by a leading European financial group, DEG - Deutsche Investitions of Germany. As a scheduled commercial bank, Atlas Bank is engaged in commercial banking operations through its network of 40 online, real-time branches in 17 major cities of Pakistan.


Offline Karuli

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Re: SMBL -- Summit Bank Limited
« Reply #4 on: October 05, 2009, 06:54:25 PM »
Toshi Bhai and Farzooq Bhai please advice me

Offline Farzooq

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Re: SMBL -- Summit Bank Limited
« Reply #5 on: October 05, 2009, 11:29:16 PM »
Toshi Bhai and Farzooq Bhai please advice me

hold
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Offline kse_karachi

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Re: SMBL -- Summit Bank Limited
« Reply #6 on: October 26, 2009, 03:12:39 PM »
Farzooq bhai Ahbl eps is (1.73)

Is there any impairment loss left in it.
on second quarter result i heard that i has booked all its losss.Do u have any information regarding this plz share with me.

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Re: SMBL -- Summit Bank Limited
« Reply #7 on: October 26, 2009, 03:20:55 PM »
Farzooq bhai Ahbl eps is (1.73)

Is there any impairment loss left in it.
on second quarter result i heard that i has booked all its losss.Do u have any information regarding this plz share with me.

in banks u have npls not imapirment losses
npls are booked on quarterly basis as per state bank requirements by all banks

Offline kse_karachi

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Re: SMBL -- Summit Bank Limited
« Reply #8 on: October 26, 2009, 03:49:55 PM »
Its means some npl is still left for second quarter

Offline Karuli

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Re: SMBL -- Summit Bank Limited
« Reply #9 on: October 26, 2009, 06:39:59 PM »
In my veiw NIB is beter then AHBL

Offline Farzooq

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Re: SMBL -- Summit Bank Limited
« Reply #10 on: November 22, 2009, 11:50:45 AM »
MCB plunder scam
 
 
 

Sunday, November 22, 2009
ARY chief, Lawai were ‘cleansed’ under NRO

By Muhammad Ahmad Noorani

ISLAMABAD: It might be shameful for the whole media community of Pakistan which is continuously fighting against dictatorial rules and its by-products like the National Reconciliation Ordinance (NRO), one of the cronies of top man sitting at the capital hill top, Haji Abdul Razzaq of ARY TV, is also among the beneficiaries of the atrocious and notorious NRO ordinance.

According to documents available with The News, in the scam of plundering of billions of rupees of the Muslim Commercial Bank (MCB), cases of buddies of the top man - Hussain Lawai and Haji Abdul Razzaq - were closed under the NRO after four months of the promulgation of the notorious law.

Both the cases against Lawai and Haji Razzaq were criminal in nature and thus were closed/disposed of by the Special Court (Offences in Banks) on August 19, 2008, on the recommendation of a federal review board which was given on June 26, 2008.

It is highly criminal on the part of the State Bank of Pakistan (SBP) that by defying all the rules and regulation it first gave a green signal to Hussain Lawai to be appointed as CEO of Arif Habib Bank, and now the central bank is in the process of bestowing My Bank upon the person involved in MCB plunder scam.

The SBP spokesman was not available to record his version despite repeated calls made on his cell phone.

A federal review board, consisting of Justice (R) Hamid Ali Mirza, Justice (R) Malik Muhammad Qayyum and Justice (R) Agha Rafiq Ahmad Khan, declared that FIR No 5/97 (Case No 12/97) and FIR No 6/97 (Case No 14/97) were politically motivated and thus the board recommend that the cases should be withdrawn. On this recommendation the concerned court acted swiftly and took no time in terminating the cases.

According to the apex court judgment and legal interpretation these cases will be reopened on November 28, 2009, and both Lawai and Haji Razzaq will be liable to arrest.
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Re: SMBL -- Summit Bank Limited
« Reply #11 on: November 25, 2009, 10:00:44 PM »
Arif Habib Bank, ALICO sign agreement

KARACHI: Arif Habib Bank Limited (AHBL) and American Life Insurance Company (Pakistan) Limited (ALICO) recently entered into a bancassurance agreement, which now allows AHBL to distribute ALICO’s innovative unit-linked life insurance plans to its customers. AHBL Chief Operating Officer Kalim-ur-Rahman, ALICO Pakistan Chairman and CEO Arif S Mufti, AHBL Group Head Commercial and Retail Banking Zahir Esmail, AHBL Group Head IT and Operations Anwar Lutfullah, AHBL Group Head Corporate and Investment Banking Khurshid Zafar, AHBL Head of HR Pervez Mobin and other senior officers of both of the organisations were present on the occasion. staff report

Offline Honda 125

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Re: SMBL -- Summit Bank Limited
« Reply #12 on: November 26, 2009, 02:02:38 PM »
Arif Habib Bank, ALICO sign agreement

KARACHI: Arif Habib Bank Limited (AHBL) and American Life Insurance Company (Pakistan) Limited (ALICO) recently entered into a bancassurance agreement, which now allows AHBL to distribute ALICO’s innovative unit-linked life insurance plans to its customers. AHBL Chief Operating Officer Kalim-ur-Rahman, ALICO Pakistan Chairman and CEO Arif S Mufti, AHBL Group Head Commercial and Retail Banking Zahir Esmail, AHBL Group Head IT and Operations Anwar Lutfullah, AHBL Group Head Corporate and Investment Banking Khurshid Zafar, AHBL Head of HR Pervez Mobin and other senior officers of both of the organisations were present on the occasion. staff report

Laoooooooooooooo Saving plans...

Offline Karuli

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Re: SMBL -- Summit Bank Limited
« Reply #13 on: December 05, 2009, 01:29:38 PM »
ahbl positive Rs.0.68 any news Farzooq Bhai

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Re: SMBL -- Summit Bank Limited
« Reply #14 on: December 05, 2009, 02:38:26 PM »
ahbl positive Rs.0.68 any news Farzooq Bhai

all small banks rallied last week
after silk bank announcement

Offline Karuli

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Re: SMBL -- Summit Bank Limited
« Reply #15 on: December 05, 2009, 02:42:33 PM »
ahbl positive Rs.0.68 any news Farzooq Bhai

all small banks rallied last week
after silk bank announcement

thanx Farzooq bhai

Offline Karuli

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Re: SMBL -- Summit Bank Limited
« Reply #16 on: December 12, 2009, 11:18:53 AM »
Arif Habib Bank 5.59 6.59 5.60 6.58 0.99 16,965,539

Offline Learner7

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Re: SMBL -- Summit Bank Limited
« Reply #17 on: December 12, 2009, 11:52:20 AM »
Interestingly, AHBL closed as the highest volume leader up 5% on market talk of a possible acquisition of Emirates Global Bank, a non listed banking entity.

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Re: SMBL -- Summit Bank Limited
« Reply #18 on: December 15, 2009, 10:24:48 AM »
AHBL share tender offer



The market is expecting from the new owners of Arif Habib Bank Limited (AHBL) a ‘tender offer’ for the minority shareholding at a price of Rs9 per share before Dec 27, 2009. Suroor Investments had signed an agreement with AHBL on June 30, 2009 for acquisition of major shareholding (59.4 per cent) at that price. The public announcement was made on July 1.



A report released by brokerage firm, Topline Securities, on Monday explained that the Takeover Ordinance in  Pakistan  was promulgated in 2002, called Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Ordinance 2002.



According to that document, all listed companies acquiring more than 25 per cent shares were obligated to make a public announcement of offer of minority stake as well, mainly to provide fair and equitable treatment to all shareholders.



The rules, first issued in 2002, have since seen several amendments.



But in compliance with the latest regulations issued through notification (dated Aug 29, 2008), the acquirer of majority stake in a company has to make a public announcement within 180 days of announcing the intention to acquire the control of the target company.



The SECP for a genuine reason can extend that time by 90 days. And the acquirer is bound to buyback at least 50 per cent of the remaining stocks offered. The rules also stipulated that the public offer price should not be less than the acquisition price or higher price arrived through few other formulas as mentioned in the regulation.



Analysts at Topline Securities calculated that since the agreement between Suroor Investments and Arif Habib Bank was signed on June 30, 2009 and the public announcement was made on July 1, to comply with the regulation, ‘a public offer has to be made within 180 days which according to our calculation is expiring on Dec 27, 2009.’



They reckoned that Suroor would have to acquire two, out of four minority shares, presented on tender offer. ‘After the announcement of acquiring more than 25 per cent shares, the public offer has to be issued within six months as explained before. The payment to shareholders who will tender their shares has to be made within three months. Thus, the whole process has to be completed in about nine months after the announcement of acquisition.



‘In case of AHBL, six months have already gone by and now after the official public offer is made, the minority shareholder who will accept the offer will get money back by March 2010, unless some changes in timeframe are approved by the SECP for a valid reason,’ said the Topline analysts.



In anticipation of the tender offer, the turnover in AHBL has received a big boost. Although a small and relative inactive stock, it was the heaviest traded scrip last Friday and saw fifth highest volume of 10 million shares on Monday.



Analysts at Topline explained that investors took heart from earlier similar offers in case of PPTA and Bosicor Refinery.


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