The after tax loss of Summit Bank Limited has reduced to Rs 1.536 billion in the year ended December 31, 2011 as compared to after tax loss of Rs 3.018 billion recorded in the year 2010. The board of directors of the bank in its meeting held on Wednesday declared that the bank's loss per share has reduced to Rs 1.53 in the period under review against Rs 5.58 in the same period a year back.
According to the financial results sent to Karachi Stock Exchange, the bank's mark-up/return/interest earning increased to Rs 9.531 billion in 2011 against Rs 7.070 billion in 2010 while the mark-up/return/interest expenses increased to Rs 9.025 billion against Rs 6.102 billion.
The bank's total non-mark-up/interest income increased to Rs 744.335 million in 2011 against Rs 581.697 million in 2010 while total non-mark-up/interest expenses increased to Rs 3.837 billion against Rs 3.095 billion. The bank posted Rs 3.043 billion as loss before taxation in 2011 as compared to before tax loss of Rs 3.875 billion in 2010.