KARACHI: Silkbank’s deposits have increased by Rs13.8 billion in first six months of the current calendar year against the deposit base of Rs82.5 billion of same period last year.
According to the Silkbank Limited Board of Directors, total asset base grew by an impressive Rs16 billion over the period. The Bank continued to improve the CASA share of deposits and successfully brought down its cost of funds. Non-funded income also reflected an impressive growth of 36pc. The Bank took aggressive provisioning to further clean the Balance Sheet.
Post this one-off provisioning, Silkbank posted an after tax loss of Rs. 95.629 million for the period ended June 30, 2015.
In 2014, Silkbank announced the issuance of Right Shares worth Rs. 10 billion and the process will be completed by September, 2015.
Silkbank is backed by strong international sponsors, which include IFC (World Bank Group), Nomura European Investments, Bank Muscat and Sinthos Capital led by Shaukat Tarin.
