KARACHI: Silkbank Limited board of directors announced half yearly results for the period ended June 30, 2015. Total asset base of the bank grew by Rs16 billion and deposits increased by Rs13.8 billion to Rs82.5 billion in the six-month period. The bank continued to improve the CASA share of deposits and brought down its cost of funds. Non-funded income also reflected a growth of 36%. Aggressive provisioning to further clean the balance sheet, a one-off provisioning, resulted in an after-tax loss of Rs95.629 million. In 2014, Silkbank announced the issuance of right shares worth Rs10 billion and the process will be completed by September 2015.
Published in The Express Tribune, September 2nd, 2015.
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