The Central Board of Directors of State Bank of Pakistan (SBP) at its meeting held in Faisalabad with SBP Governor Dr Shamshad Akhtar in the chair has approved the annual audited accounts of the Bank for the year ended June 30, 2006.
According to SBP press release, the board expressed its deep appreciation at the attainment of exceptionally high level of net profit of Rs 68.18 billion.
The profits earned in 2004-05 were Rs 31.05 billion. Out of these profits, the central board decided to transfer Rs 49.09 billion to the Government of Pakistan and Rs 19.14 billion to the Reserve Fund.
The gross income (net off interest/mark-up expenses) during the year was Rs 80.77 billion. The overall expenditure of the SBP was contained to Rs 12.58 billion. The discount/interest income earned by the SBP during FY 2005-06 was Rs 69.94 billion as compared to Rs 29.76 billion in FY05.-PR
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