Standard Chartered Pakistan reported a PKR 24.4 billion profit before tax for the first half of 2026, as the bank maintained strong business momentum despite lower interest rates. Revenue reached PKR 34.8 billion, while disciplined spending helped keep its cost-to-income ratio at 33%.

The bank’s profit before tax stood below the PKR 32.9 billion recorded in the same period last year, mainly because falling interest rates reduced revenue. However, lower funding costs and balance-sheet growth partly cushioned the impact. Quarterly revenue also increased 10% from the first quarter of 2026, highlighting improving core business activity.

Standard Chartered Pakistan continued to focus on profitability, risk management and operational efficiency during the period. Total expenses fell 5% year-on-year despite continued investment in employees and infrastructure. The bank also recorded a net release of PKR 1.1 billion in provisions, supported by prudent risk management and strong recoveries of bad debts.

The bank’s deposit base reached PKR 671 billion, representing 3% growth since the beginning of the year. Current accounts accounted for 57% of total deposits, strengthening the bank’s funding profile and reflecting its focus on deposit optimisation.

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On the lending side, net advances increased by PKR 31 billion, or 15%, during the first half of 2026. Corporate lending and mortgages drove much of the growth. The bank also maintained its position in Pakistan’s mortgage market by offering financing solutions aimed at supporting home ownership.

Standard Chartered also played a key role in Pakistan’s return to international capital markets after a four-year gap. The bank supported the government in facilitating a USD 750 million Eurobond and a USD 250 million Panda Bond, reinforcing its role in international financing and capital-market transactions.

The bank said improving macroeconomic stability and renewed investor confidence were creating fresh opportunities for Pakistani businesses. It also continued investments in digital banking, infrastructure, controls and compliance to improve customer services and strengthen its operating platform.

Standard Chartered reported a return on equity of 21.3% and a capital adequacy ratio of 21.2%, leaving the bank with a strong capital position for future expansion.

The Board of Directors also announced an interim cash dividend of 30%, equivalent to PKR 3 per share, for the six months ended June 30, 2026.

Adil Salahuddin, CEO and Head of Coverage at Standard Chartered Bank Pakistan, said the first-half performance demonstrated the resilience of the bank’s business and the strength of its client relationships. He pointed to improving economic conditions, greater investor confidence and stronger engagement with international markets as positive signs for Pakistan.

Salahuddin said the bank would continue connecting clients with international opportunities through its global network, market expertise and sector capabilities while supporting Pakistan’s ambitions in trade, investment and capital markets.

During the first half of the year, Standard Chartered also expanded its community-focused initiatives. Its SC Women in Tech Accelerator continued supporting women-led businesses, while the Goal Accelerator Programme helped disadvantaged girls and young women develop economic resilience through sport.

The bank also partnered with Karachi United to promote sports and social development among young people. It further advanced initiatives focused on accessibility, disability-confident employment and economic opportunities for persons with disabilities.

Standard Chartered maintained a 30% women diversity ratio during the period and continued supporting clients with sustainability and transition initiatives.

The bank also thanked outgoing CEO and Head of Coverage and Director Rehan M. Shaikh for his leadership and contributions over the years. Adil Salahuddin has taken over as CEO, Head of Coverage and Director of Standard Chartered Bank Pakistan.