The Board of Directors of Sindh Bank in the meeting held on March 2, 2017, reviewed and approved the Audited Financial statements of the Bank for the year ended December 31, 2016. During 2016, as per the trend in past years, the Bank registered impressive growth in deposits, advances, customer accounts and profitability.
Deposits increased by 41.6 percent and stood at Rs 119.0 billion as compared to Rs 84.1 billion as on December 31, 2015. Gross Advances rose by 19.9% to Rs 56.0 billion as against Rs 46.7 billion as on December 31, 2015 and number of customer accounts stood at 418,454 registering an increase of 16.9 % over 2015. The Bank's pre-tax profit for the year 2016 amounted to Rs 2,427.9 million, increasing by 18.3% over Rs 2,051.5 million earned last year while Profit after Tax amounted to Rs 1,390.8 million (2015-Rs 1,230.3 million).-PR