Karachi, Standard Chartered Bank (Pakistan) Limited (SCBPL) disclosed its annual financial results for the year ended 31 December 2023, revealing a historic high in its Profit Before Tax, which reached PKR 89.2 billion. This robust performance allowed SCBPL to declare an unprecedented dividend rate of 90%, equivalent to PKR 9 per share, marking the highest dividend since the bank's incorporation.

The surge in SCBPL's share prices on 23 February 2024 coincided with the public release of these financial outcomes. The favorable investor response was notably influenced by the bank's strong earnings report amid a generally bullish trend in the stock market.

SCBPL confirmed its ongoing commitment to adhere strictly to regulatory requirements and to promptly share any price-sensitive information with the Pakistan Stock Exchange. The bank also clarified that it is not privy to any other developments that might explain the unusual price movements of its shares.