Silk­bank turn­around in Q1 Rs515m

Pakistan Observer - - ECONOMY WATCH - STAFF RE­PORTER

KARACHI— Silk­bank Lim­ited in its Board Meet­ing held on Fri­day de­clared an Op­er­at­ing Profit of Rs. 515 mil­lion for the quar­ter ended March 31, 2016. The Bank’s Profit be­fore Tax of Rs. 311 mil­lion for the quar­ter reg­is­tered a sig­nif­i­cant in­crease of 313% com­pared to the same pe­riod last year.

The Bank’s to­tal as­sets base grew no­tably by 6 bil­lion over this pe­riod high­light­ing the op­er­a­tional strength of the bank. De­posits for the pe­riod have in­creased by Rs. 4.2 bil­lion - tak­ing the to­tal de­posit base to Rs. 85.34 bil­lion - re­flect­ing de­pos­i­tors’ grow­ing con­fi­dence in the Bank.

Net mark- up in­come of the bank grew sig­nif­i­cantly by 46% over the same pe­riod last year, high­light­ing the Bank’s op­er­a­tional ef­fi­ciency. More­over, the bank was also able to cur­tail its non- markup ex­penses which dropped by 11%. Silk­bank which is now com­plaint on the Cap­i­tal Ad­e­quacy Ra­tio ( CAR) and the Min­i­mum Cap­i­tal Re­quire­ment ( MCR) of the State Bank of Pak­istan is well poised to reg­is­ter strong growth and earn­ings in 2016.

KARACHI: Muham­mad Az­far Ah­san ( Found­ing CEO, Nut­shell Fo­rum) re­ceiv­ing spe­cial recog­ni­tion from Marvi Me­mon ( Min­is­ter of State & Chair­per­son, BISP) dur­ing clos­ing ses­sion of MAR­CON’ 16 in Karachi. For­mer In­for­ma­tion Min­is­ter & Sen­a­tor Javed Jab­bar, Pres­i­dent of Mar­ket­ing As­so­ci­a­tion of Pak­istan Talib S. Karim and CEO of Bates In­ter­flow Mansoor Karim are also present.

IS­LAM­ABAD: Chair­man PTA Dr. Is­mail Shah and CEO Zong Liu Dian­feng along with their teams cut­ting cake to cel­e­brate Zong’s suc­cess in re­cent QoS Re­port 2016.

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