Silkbank earns Rs1.73b operating profit

The board of directors of Silkbank Limited declared an operating profit of Rs1.729 billion

KARACHI: The board of directors of Silkbank Limited, in their meeting held on August 13, declared an operating profit of Rs1.729 billion with after-tax profit of Rs746 million for the half year ended June 30, 2018, reflecting a significant increase of 75% over the same period last year. Net interest income grew Rs711 million for the half year, reflecting a growth of 27% over the corresponding period of last year. Non-funded Income (NFI) for the half year showed a growth of 32% over the same period last year. Gross advances showed a growth of Rs8.19 billion, higher by 9% versus December 2017. Deposits substantially increased by Rs15.1 billion or 13.7% growth over December 2017, taking the total deposit base to Rs125.36 billion. The robust deposit growth reflects increased customer confidence in the bank. CASA ratio improved from 61.46% in December 2017 to 63.83% in June 2018,

Published in The Express Tribune, August 17^th, 2018.

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