Corporate Corner: Silkbank earns Rs751m profit

Reflects a growth of 49%

KARACHI: The Board of Directors of Silkbank Limited in their meeting held on October 26, 2017 declared an operating profit of Rs1.2 billion with a profit after taxes of Rs751 million, reflecting a growth of 49% over the results of the same period last year, for the nine months ended on September 30, 2017.

Net interest income grew by Rs755 million, reflecting a growth of 23% over the corresponding period last year. The increase was due to an improved balance sheet spread, resulting from lower cost of funds.



No-funded income (NFI) for the nine months showed a growth of 17% and cumulative net revenue (CNR) by 21%, whereas margin registered a growth of 33% for the same period over 2016. The bank registered an impressive growth of 22% in its current account portfolio. The strong current account growth continues and together with a strong savings account momentum, the bank deposit grew altogether by 24% over the period of December 31, 2016.

Published in The Express Tribune, October 31^st, 2017.

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