Corporate Corner: Silkbank earns Rs887 million

KARACHI: The Board of Directors of Silkbank Limited in their meeting held on August 24, 2017 declared an operating profit of Rs887 million, with a profit after tax of Rs478.3 million for the half year ended June 30, 2017 reflecting a growth of 39% as compared to the same period last year.

Both net interest income and non-interest income registered an impressive growth of 28% and 60%, respectively, in the second quarter of 2017 as compared to corresponding period last year.

For the first time the bank's deposit base exceeded the Rs100 billion landmark and closed at Rs102 billion, highlighting an overall growth of 20% as compared to June 2016. On the assets side, bank's advances also witnessed a growth of 28% as compared to June 2016.

Published in The Express Tribune, August 26^th, 2017.

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