BankIslami Pakistan announced its financial results for the nine months ended September 30, 2021. Despite reduction in discount rates, BankIslami Pakistan posted Profit After Tax amounting to Rs. 1,855 Mn for the nine months ended September 30, 2021, depicting a growth of 5.3pc from PAT of Rs. 1,762 Mn posted during same period last year, Alhamdulillah. This is mainly attributable to improvement in Current Account (CA) deposits, which grew by 15.0pc during the outgoing nine months, translating into an overall contribution of CA deposits in overall deposits to 35.5pc at the end of Sep’21 as compared to a 32.6pc as at Dec’20. On the back of growth in CA deposits, the Bank’s overall Deposits went up by 9pc during nine months ended Sep’21. Comparing the same with the Deposit position at the end of Sep’20, total deposits of the Bank depicted a year on year growth of 20.7pc. Keeping in view the growth in domestic demand underpinned by supportive fiscal budget and accommodative monetary policy, BankIslami Pakistan expanded its Islamic Financing book by 19.6pc via growing its exposure towards corporate and consumer segments on the back of its robust risk underwriting framework. Owing to this, infection ratio of the Bank also reduced to 10.7pc at Sep’21 vis-à-vis 12.1pc at Dec’20, consequently improving the credit health of the overall financing portfolio. Net spreads of the Bank tapered by 18.9pc during 9M’21, due to downward repricing of floating rate assets consequent to reduction in benchmark rates during latter half of last year, however, non-funded income of the Bank increased by 13.6pc mainly attributable to the growth in service based income earned through digital delivery channels, trade business, wealth management desk and consumer business. On the other hand, operating expenses of the Bank rose by 9.1pc mainly due to inflationary impact and increase in variable cost associated with growth in business volume. Moving forward, BankIslami will remain focused on growing its CASA base deposits and Financing portfolio with the balance mix of Corporate, SME and Consumer segment. Further, the Bank aims to enhance its array of customer services through its various digital channels to provide convenience and quick delivery of services to its customers.