Result: Sindh Bank net profit at Rs409m

KARACHI: Sindh Bank Limited posted net profit of Rs408.57 million during October 29, 2010 to June 30, 2011, according to a bank’s spokesperson on Tuesday. He said that the bank plans to enhance its branch network to 50 the end of the current calendar year from its current 10 branches. The bank achieved 113% increase in deposit base while its net revenue stood at Rs770.12 million indicating that the momentum achieved in the first quarter has been maintained. In three months, the bank’s corporate banking portfolio touched Rs3 billion mark indicating rapid development of the corporate banking portfolio during the period under report, he added.

Published in The Express Tribune, August 31^st,  2011.