SilkBank Limited witnesses an increase of 56% in half yearly profits

Profit and Loss Account for the Half Year Ended June 30th 2018 ('000 Rupees)

Jun-18

Jun-17

% Change

Mark-up/return/interest earned

                       7,085,853

                       5,158,004

37.38%

Mark-up/return/interest expensed

                     (3,772,746)

                     (2,555,596)

47.63%

Net mark-up/ interest income

                       3,313,107

                       2,602,408

27.31%

Provision against non-performing loans and advances - net ( specific)

                        (679,192)

                        (262,079)

159.16%

Provision against small enterprises and consumer financing - net (general)

                           (65,398)

                           (27,766)

135.53%

Recovery against written off loans

                             89,460

                             39,355

127.32%

Impairment in the value of investments

                                      -  

                           (22,723)

Net mark-up/ interest income after provisions

                       2,657,977

                       2,329,195

14.12%

NON MARK-UP/INTEREST INCOME

Fee, commission and brokerage income

                           899,930

                           684,521

31.47%

Dividend income

                                      -  

                             22,244

Income from dealing in foreign currencies

                           120,817

                             72,075

67.63%

Gain on sale of securities - net

                           (17,771)

                             48,437

Unrealized (loss)/gain on revaluation of investments- held for trading

                                   404

                                 (652)

Other income

                           733,943

                           492,576

49.00%

Total non-mark-up /interest income

                       1,737,323

                       1,319,201

31.70%

NON MARK-UP/INTEREST EXPENSES

Administrative expenses

                     (3,255,173)

                     (2,971,107)

9.56%

Other (provisions)/(write-off)/reversal - net

                                 (821)

                             (2,597)

-68.39%

Other charges

                           (66,087)

                           (60,936)

8.45%

Total non-mark-up /interest expenses

                     (3,322,081)

                     (3,034,640)

9.47%

Extra-ordinary/unusual items

                                      -  

                                      -  

Profit before taxation

                       1,073,219

                           613,756

74.86%

Taxation

                        (327,309)

                        (135,496)

141.56%

Profit after taxation

                           745,910

                           478,260

55.96%

Earnings per share (basic and diluted)

                                  0.08

                                  0.05

60.00%