The Board of Directors of Silkbank Limited in their meeting held on August 24, 2017 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, Bank's advances also witnessed a growth of 28%as compared to June 2016.
Furthermore, the Bank continued its focus on building low cost deposits, as the CASA ratio improved from 58.79% in December 2016 to 63.68% in June 2017, mainly due to 37% growth in Current Account as compared to December 2016. This shows a clear indication of customers growing confidence in the Bank.-PR
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