refer to ‘Para 3.2 and 3.3 of Master Circular on Financial
Disclosure – Frequency & Timeline’ as issued
vide BSD Circular No. 1 of 7th January 2004.
State Bank is pleased to prescribe a format for the quarterly
and half-yearly financial statements, which the banks/DFIs
are obliged to issue as per above circular.
3 Further, keeping in view the representations made by various
banks regarding the difficulties faced by them in circulation
of their quarterly and half-yearly financial statements to
the shareholders as well as the cost involved in this process,
it has been decided that henceforth:
Banks/DFIs shall publish their quarterly and half-yearly financial
accounts in the newspaper(s) within the time limit as prescribed
in above-mentioned circular.
b) Banks/DFIs may circulate their quarterly & half-yearly
accounts to their shareholders, however, this requirement
of circulation to the shareholders is not mandatory.
c) In addition to above, banks/DFIs are encouraged to post
their quarterly & half-yearly accounts on their websites.
4 All banks/DFIs are advised to issue their quarterly and
half-yearly financial statements as per enclosed format and
ensure to get them published in the newspaper(s) within timeframe
as prescribed in BSD Circular No. 01 of 7th January 2004.
Other instructions of the Companies Ordinance 1984; Banking
Companies Ordinance 1962; directives/regulations of the SECP,
the Stock Exchanges and the SBP, on the subject, shall remain
6 Instructions stated under Para 4 are applicable from the
quarter ending 30th June 2004 and onwards.
As above: balance sheet,
profit & Loss, Cash
Flow, Changes in Equity,