2012 Performance: Burj Bank concludes ‘turnaround year’

KARACHI: Burj Bank has said it has concluded 2012 as a turnaround year in terms of service delivery with the announcement of annual financial results. According to a press release, the bank started the year with focus on delivering world class Shariah-compliant banking services to customers. During the year, the bank launched and established an array of products and services such as Carsaaz Auto financing, Home Musharaka, agri financing, SME banking, home remittance, investment banking, Islamic Debit MasterCard and an efficient internet banking platform to facilitate a diverse customer portfolio. The bank increased its nationwide branches from 50 to 75. Its deposit base grew from Rs20 billion to Rs36 billion, reflecting a growth of 77% whereas total assets grew from Rs27.6 billion to Rs47 billion, reflecting 70% growth. It posted after tax profit of Rs85 million for 2012, with basic/diluted EPS of Re0.114 per share.

Published in The Express Tribune, April 12^th, 2013.

Like Business on Facebook to stay informed and join in the conversation.