The Board of Directors of Silk Bank Limited in their meeting held on August 13, 2018 stated an operating profit of PKR 1.73 billion, with profit after tax of PKR 746 million for the half year ended June 30, 2018 reflecting a noteworthy growth of 75 percent over the corresponding period last year.
Net interest income raised by PKR 711 million for the half year ended June 30, 2018 reflecting progress of 27% over the matching period last year. Non funded income for the half year presented a growth of 32% over the same period last year.
Gross advances have increased by PKR 8.19 billion, more than 9 percent as compared to position in December 2017. Deposits are considerably increased by PKR 15.1 billion (13.7 percent growth) over December 2017. The total deposit base has reached to the level of PKR 125.36 billion. This healthy deposit growth is due to better customer trust in the bank. Current & Saving deposit ratio has is around 64 percent in June 2018, added significantly towards reduction in cost of funds and greater profitability.