Profit after tax of Askari Bank increases to Rs 1,627.698 million

The profit after tax of Askari Bank has increased to Rs 1,627.698 million in the year ended December 31, 2011 as compared to Rs 943.177 million earned in the corresponding period in 2010. The bank's earning per share increased to Rs 2.30 in the period under review against Rs 1.34 in the same period a year back.
The board of directors of the bank in its meeting held on Tuesday, recommended to issue bonus shares in the proportion of 15 shares for every 100 shares held ie 15 percent. According to the financial results sent to Karachi Stock Exchange, the bank's mark-up/return/interest earnings increased to Rs 32.766 billion in 2011 against Rs 27.328 billion in 2010. The bank's mark-up/return/interest expenses increased to Rs 22.699 billion against Rs 17.936 billion.
The bank's total non-mark-up/interest income increased to Rs 2.902 billion against Rs 2.800 billion while total non-mark-up/interest expenses increased to Rs 8.726 billion against Rs 7.855 billion. The bank's profit before taxation increased to Rs 2.412 billion in 2011 against Rs 1.273 billion in 2010.