Silkbank’s board of directors meeting was held on August 13 where Silkbank posts Rs.1.729 billion operating profit for half of the year ended on June 30, 2018. Silkbank limited has shown tremendous growth n one year, the company had a significant increase of 75 percent as compared to the same period last year.
Silkbank has declared profit after tax (PAT) Rs746 million for the same period. The company’s net interest income grew by Rs711 showing a growth of 27 percent.
The non-funded income (NFI) witnessed a growth of 32 percent over the same period last year, gross advances grew to Rs8.19 billion which is higher by 9 percent as compared to December 2017.
Silkbank’s deposit increased by Rs15.1 billion which is 13.7 percent growth as compared to December 2017, the total deposit base has grown to Rs125.36 billion.
The strong deposit growth clearly shows the customer’s confidence in the bank which is gradually increasing overall. CASA ratio has been improved from 61.46 percent in December 2017 which grew to 63.83 percent in June 2018. As a result, the bank was able to achieve cost reduction and higher profitability.