KARACHI: The Board of Directors of Silkbank Limited in their meeting held on February 28, 2017, declared an operating profit of Rs. 1.23 billion, with a Profit After Tax of Rs. 739 million. The results were a turnaround for the Bank with a net profit increase of Rs. 2.58 billion over the previous year’s result.
The growth was driven by a formidable increase of 40.31% in Net Interest Income, with Non-Interest Income also reflecting a strong growth of 16.81%. Despite recording the extraordinary growth in earnings, the administrative expenses only grew marginally by 4.4%. During this period, deposits grew by Rs. 5.69 billion and advances by Rs. 2.3 billion, with Non-Performing Loans (NPL’s) reducing by Rs. 2.7 billion.
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