F.P. Report
KARACHI: The Board of Directors of Silkbank Limited in their meeting held on April 25, 2019 declared an Operating Profit of Rs. 456 million for the first quarter ended March 31, 2019. Gross interest income recorded an increase of 32% whereas Fees, Commissions & Exchange earnings recorded an increase of 7% compared to the same period last year.
Silkbank continues to maintain a high CASA ratio of 68% reflecting continued customer confidence driven by a high service quality delivery. The Bank has a network of 123 branches in 39 cities, covering both conventional as well as Islamic banking business.
The Bank recorded strong momentum in its high yielding retail lending business and remains the bank of choice for its credit cards, personal loans and revolving credit products.
Net-equity improved to Rs.14.5 billion, further positioning Silkbank to maintain an upward trajectory in its growth and profitability. The Board is optimistic that Silkbank will maintain a strong growth momentum during 2019.
