70% Increase in Profit Declared by Silkbank Limited

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Silkbank

An operating profit of Rs.2.719 billion has been declared by the board of directors of Silkbank Limited. Profit after tax is Rs.1.235 billion for the nine-month period ending on September 2018.

An increase of 70% in profit before tax has been realized for this year compared to last year. A growth of 23% i.e. Rs.913 million has been declared in Net interest income. Non-funded income depicted the growth of 42% for the same period compared to last year.

Also Read:  Corporate results of Silk Bank report loss for the year 2015

Gross advances of Silkbank has increased by Rs.14.29 billion i.e. 16% compared to the year 2017. An increase of Rs.12 billion has been witnessed in deposits and now the total deposits of the bank stand at Rs.122.33 billion, that implies a confidence of customer in banks operations.

The cost of deposits has been favored by improvement in the CASA ratio i.e. 66.67% in September 2018 compared to 61.46% in December 2017.

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