Silkbank posts operating profit of Rs370.4 million

KARACHI: The Board of Directors of Silkbank Limited in their meeting held on April 27, 2017 declared an operating profit of Rs370.4 million, with a profit after tax of Rs136 million for the quarter ended March 31, 2017. All income metrics reflected improvement from the same period of previous year. Net interest income for the quarter ending March 31, 2017 was recorded as Rs1.26 billion a 10.5% increase over the corresponding period of previous year. This is an outcome of improved balance sheet spread, which increased from 3.4% in 1Q2016 to 3.9% in the corresponding period in 2017. Similarly, non-interest income grew by 18% as compared to the same period of last year.  On the balance sheet side, the bank’s net assets grew by 1.7% and gross advances increased by Rs5.8 billion as compared to December 2016.

Published in The Express Tribune, April 28^th, 2017.

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