Summit Bank’s after tax loss reduces

RECORDER REPORT

KARACHI: The after tax loss of Summit Bank Limited has reduced to Rs 1.308 billion in the nine month period ended September 2012 as compared to after tax loss of Rs 1.671 posted in the corresponding period in 2011. The board of directors of the bank in its meeting held on Friday declared that the bank’s per share loss stood at Rs 1.21 in the period under review against Rs 2.05 in the same period last year.

According to the financial results sent to Karachi Stock Exchange, the bank’s loss before taxation stood at Rs 1.046 billion in the nine month period this year against Rs 2.113 billion in the same period last year.

On quarterly basis, the bank posted Rs 362.505 million as after tax loss translating per share loss of Re 0.34 in the quarter ended September 30, as compared to after tax profit of Rs 63.21 million with earning per share of Re 0.06 in the same quarter last year.