KARACHI: Silkbank, in its board meeting, has announced Rs230 million operating profits for the first quarter (January-March) of 2015.
According to the bank, the profit-before-Tax increased by 80 per cent to Rs75.24 million during the corresponding period. The mark-up income of the Bank grew by 5pc to close the quarter at Rs2.33 billion. Non-funded income reflected an impressive growth of 45pc over the same period last year, significantly contributing to the profitability of the Bank. The Bank’s total asset base grew by Rs4.13 billion over the quarter, which reflects the strength of the operations of the bank. Investments also reflected a growth of 15pc over the quarter, whereas, the advances portfolio increased by Rs 1.96 billion when compared to the corresponding period last year.
Silkbank successfully reduced its non-performing loans portfolio, which decreased by Rs. 884 million compared to last year’s corresponding period. Silkbank deposits posted a significant growth of Rs. 5.7 billion over December 31, 2014, thus closing the quarter with a strong deposit base of Rs. 74.5 billion.
