Silkbank turnaround in Q1 Rs515m
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.