Summit Bank Limited (SMBL) has posted a loss after tax of Rs 1.828 billion for the year ended on December 31, 2013. However, the loss is some Rs 906 million or 33 per cent lower than previous year (2012), in which the bank posted a loss after tax of Rs 2.734 billion.
During the period under review, SMBL's loss before tax stood at Rs 1.4 billion declined from Rs 2.524 billion. Loss per share also reduced to Rs 1.52 in CY13 compared to Rs 2.54 in CY12. SMBL's net mark-up/ interest income after provisioning surged to Rs 1.684 billion up from Rs 95 million in the previous year. In addition, bank's total non-markup/ interest income increased by Rs 309 million to Rs 1.686 billion in CY13 as against Rs 1.377 billion in CY12. It may be mentioned here that Summit Bank has planned to transform its all conventional banking operation in to Shariah complaint and recently it opened its first Islamic branch in Karachi with injection of one billion rupees new equity.
Comments
Comments are closed.