Burj Bank Limited was formerly known as Dawood Islamic Bank Limited (DIBL). The bank officially commenced operations in April 2007 and was renamed Burj Bank Ltd. in July 2011. Burj Bank has a diversified range of Shariah compliant funded and non-funded…
<p>JCR-VIS Credit Rating Company has reaffirmed the entity ratings of Burj Bank at ‘A/A-1’. Outlook on the ratings is ‘Stable’. Ratings take into account the financial profile of Islamic Corporation for Development of the Private sector (ICD), one of the major shareholders of the bank. The recent approval by shareholders to increase the bank's paid up capital (free of losses) to Rs. 6b is likely to create room for growth in core business activities, which is constrained by the high level of Capital Adequacy Ratio required to be maintained by the State Bank of Pakistan. With a CAR of 22.5% at end-Dec’12 and net NPLs in relation to tier-1 capital also within manageable limits, the bank continues to depict sound risk absorption capacity. Burj has set up 25 new branches during FY12 to increase the total outreach to 75 branches by year-end. A further 25 branches are planned to be set up during the ongoing year.</p>
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<p><a href="http://www.thenews.com.pk/Todays-News-3-188800-JCR-VIS-Reaffirms-Entity-Rating-of-Burj-Bank-Limited" title="http://www.thenews.com.pk/Todays-News-3-188800-JCR-VIS-Reaffirms-Entity-Rating-of-Burj-Bank-Limited">http://www.thenews.com.pk/Todays-News-3-188800-JCR-VIS-Reaffirms-Entity-…</a></p>
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Burj Bank has launched an employee driven CSR initiative called “Giving beyond the Workplace Campaign”. As part of the programme, Burj Bank Employees along with the Senior Management team visited the TCF (The Citizen’s Foundation) Qayyumabad campus. Burj Bank members adopted one class each for the day where they spent their time in storytelling, book reading and educating the students about the importance of Earth Day. Moreover, Mr. Ahmed Khizer Khan, President & CEO of Burj Bank also presented a donation cheque from Burj Bank’s Charity Fund to Asaad Ayub Ahmad, President & CEO of TCF. This marked the beginning of a new relationship between the two organizations.
Burj Bank has launched an employee driven CSR initiative called “Giving beyond the Workplace Campaign”. As part of the program, Burj Bank Employees along with the Senior Management team visited the TCF (The Citizen’s Foundation) Qayyumabad campus as an…
In 2012, Burj Bank’s deposit base grew from Rs.20 billion to Rs.36 billion reflecting a deposit growth of 77pc whereas the total assets grew from Rs.27.6b to Rs.47b reflecting 70pc growth during the year. During the year, the Bank launched and established several products and services such as Carsaaz Auto financing, Home Musharaka, Investment Banking, Islamic Debit MasterCard and an efficient internet banking platform. Morover, the Bank has grown its nationwide branches from 50 to 75.
Bank Burj’s results for the first half of 2012 (until June 30th) are out. The bank registeres a profit before tax as high as Rs147 million. The results are a reflection of a turnaround of Burj Bank which caused continuous earning for the first two qua…
Dawood Islamic Bank has a new name since 11 July 2011: Burj Bank. With the new image, the bank is trying to leave behind all the turbulents.
The banks new purpose is to be among the top 10 banks in Pakistan within a decade. The bank is planning to laun…
Dawood Islamic Bank has anticipated the new identity of Burj Bank to “Burj Bank Limited” with effect from July 11, 2011.
It seems that the reasons for the change of identity of Dawood Islamic Bank is the change of the profile of the investors due t…
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