Silkbank earns Rs 887m operating profit in H1 2017

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KARACHI: The board of directors of Silkbank Limited in a meeting on Thursday declared an operating profit of Rs 887 million, with a profit after tax of Rs 478.3 million for the half year ended June 30, 2017 reflecting a growth of 39% as compared to the same period last year.

Both net-interest income and non-interest income registered an impressive growth of 28% and 60%, respectively, in the 2nd quarter of 2017 as compared to corresponding period last year.

For the first time the bank’s deposit base exceeded the Rs 100 billion landmark and closed at Rs 102 billion, highlighting an overall growth of 20% as compared to June 2016. On the assets side, the bank’s advances also witnessed a growth of 28% as compared to June 2016.

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