SBP appoints 10 banks as primary dealers for FY25

July 10, 2024 (MLN): The State Bank of Pakistan (SBP) has appointed 10 banks as primary dealers (PDs) of government securities and two companies as special purpose primary dealers (SPDs) for financial year 2024-25.

According to a circular issued by the Domestic Market and Monetary Management Department of SBP, upon evaluation of received applications under the laid-down criteria, the central bank has selected 10 applicants for appointment as PDs and 2 for the role of SPDs of government securities.

PDs appointed for FY25 include Bank Al-Falah Limited, National Bank of Pakistan, Habib Bank Limited, Habib Metropolitan Bank Limited, United Bank Limited, The Bank of Punjab, MCB Bank Limited, Pak Oman Investment Company Limited, JS Bank Limited, and Citi Bank – Pakistan.

Moreover, SPDs appointed for FY25 include the Central Depository Company of Pakistan (CDC) and National Clearing Company of Pakistan Limited (NCCPL).

The SBP also evaluated the performances of PDs for FY24. The top three performing PDs were Bank Al-Falah Limited, National Bank of Pakistan, and Habib Bank Limited, the circular stated.

Meanwhile, the performance ranking of all other PDs/SPDs during FY 2023-24 will be communicated individually through separate letters, it said.

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