Islamic Banks continued to augment the overall profitability of banking sector during 1HCY19: SBP

MG News | October 23, 2019 at 11:00 AM GMT+05:00

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October 23, 2019 (MLN): The recent report released by the State Bank of Pakistan, which covers the performance of the Banking Sector during 1HCY19, has stated that the Islamic Banking Institutions (IBIs) share in the banking sector’s asset increased to 14.4 percent.

IBIs contribution in total assets flows in H1CY19 was the highest in the last three years, indicating the growing significance of IBIs

However, investment in Sukuks took the lead to push the assets during the current half in contrast to previous corresponding halves when financing had played the major role, the report said.

IBIs continued to augment the overall profitability of the banking sector as it contributed 26.5 percent to the overall after-tax profits during H1CY19, despite a 14.4 percent share in total banking sector assets.

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