Escorts Investment Bank Limited has shown an overall growth during the period of July-December 2003, as its profit before tax was Rs 49 million, showing an increase of nine percent from the corresponding year, while its total asset stood at Rs 2,327 million.
A spokesman of the Bank disclosed this here on Monday. According to him, the Bank had performed well, as it could be judged from its financial indicators.
Its profit after tax increased from Rs 34 million to Rs 42 million, an increase of 24 percent, and certificate of deposits has increased by Rs 128 million, from Rs 748 million to Rs 876 million. Hence, earning per share has enhanced to Rs 2.105, whereas during July-December 2002, it was Rs 1.704, an increase of 24 percent.
He further disclosed that Morabaha financing also shown an increase of Rs 71 million, from Rs 319 million to Rs 390 million. A major increase has been in the portfolio of investment in government securities, which stood to Rs 870 million from Rs 440 million.
He claimed that success story of the Bank was due to dedication and hard work of the Bank's management. He added that they have been able to design and implement a very successful business model.
"The current business plan, Escorts Beyond 2001, was launched in January 2002 after a thorough SWOT analysis of the Bank and assessment of the macro economic and financial market trends," he added.
Comments
Comments are closed.