Management170: Top banks face billions in global losses

Monday, December 15, 2008

M. Umer Toor said...: Yeah that's terrible news for banks. Moreover, you people must have heard about the historical interest rate cuttings by England's banks, probably state banks.

Pakistani banks are yet in safe heavens. In 1-7 Dec. Pakistan and Gulf Economist, I came to read this:

"Pakistani banks have been exceptionally resilient during financial crises., primarily due to low international exposure and limited range of financial products and derivatives being almost non existent."

Moreover, in these stormy days Pakistani banks have the capacity "in taking on more risk-weighted assets."

But, consumer banking in a great peril. I read in some international business journal, previous month, where Pakistan was amongst the top countries facing huge credit-debits. I feel that greed is itself poverty. And, in previous or two weeks MCB announced that its is going to drop around 450 of its consumer employees. When I asked the reason from my father, who has served in MCB for a few decades, he said that they've been left with no work, i.e, consumer banking!!

And, thanks for the link!; December 16, 2008 at 5:44 AM

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