Askari Bank Ltd witnesses considerable decline in total profit

MG News | October 23, 2018 at 04:51 PM GMT+05:00

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October 23, 2018 (MLN): Askari Bank’s consolidated profit for the nine month period ended September 30th, 2018 diminished by 11.40% due to substantial decline in non-markup interest income.

Even though the company enjoyed small increment in net mark-up return (0.44%) but a decline in non-markup interest income due to a significant decline in gain on sale of securities of about 91%, caused the total non-mark-up interest income to decline.

Though, the taxation for the company recorded a small decline of around 3%, it was not enough to pull up the profits of the company by significant margin.

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