Corporate Corner: Silkbank’s net profit up by 54% in 2017
Bank has posted a profit after tax of Rs1.135 billion for the year ended December 31, 2017
Silk bank net profit up PHOTO: REUTERS
KARACHI:
The Board of Directors of Silkbank Limited, in its meeting held on March 6, 2018, reviewed the performance of the bank and approved the financial statements for the year ended December 31, 2017. The bank has posted a profit before tax of Rs1.387 billion and a profit after tax of Rs1.135 billion for the year ended December 31, 2017. This translates into a growth of 54% over 2016. This performance was driven by formidable growth of 26% in net interest income, with non-interest income also reflecting an impressive rise of 33%. During the year, deposits increased from Rs23.5 billion to Rs110.3 billion. This included a significant growth of 33% in CASA of Rs16.8 billion. The non-performing loans to advances ratio reduced to a low of 6.5% as of December 31, 2017.
Published in The Express Tribune, March 8th, 2018.
The Board of Directors of Silkbank Limited, in its meeting held on March 6, 2018, reviewed the performance of the bank and approved the financial statements for the year ended December 31, 2017. The bank has posted a profit before tax of Rs1.387 billion and a profit after tax of Rs1.135 billion for the year ended December 31, 2017. This translates into a growth of 54% over 2016. This performance was driven by formidable growth of 26% in net interest income, with non-interest income also reflecting an impressive rise of 33%. During the year, deposits increased from Rs23.5 billion to Rs110.3 billion. This included a significant growth of 33% in CASA of Rs16.8 billion. The non-performing loans to advances ratio reduced to a low of 6.5% as of December 31, 2017.
Published in The Express Tribune, March 8th, 2018.