The Board of Directors of Silkbank Limited in their February 28, 2019 meeting declared an operating profit of Rs 3.146 billion, with a profit after tax of Rs 1.330 billion for the year ended December 31, 2018, reflecting a growth of 17 percent over the previous year.
Net interest income grew by Rs 1.119 billion reflecting a growth of 20 percent whereas Non Funded Income increased by 16 percent over the corresponding period last year. Gross advances increased by Rs 13.43 billion reflecting a 15 percent growth for the year. Deposits substantially increased by Rs 22.39 billion versus last year, taking the total deposit base to Rs 132.66 billion. CASA deposits significantly improved from 61.5 percent in December 2017 to 67.3 percent in December 2018, reflecting continued customer confidence in the Bank.
Silkbank maintains an upward trajectory in its growth and profitability and the Board is optimistic that Silkbank will maintain a strong growth momentum going forward.-PR