Profit-before-tax of IBI was recorded at Rs21.3bn in 3QFY21 compared to Rs20.6bn in the same period in FY20. Dawn/File
KARACHI: The Islamic Banking Industry (IBI) invested 23 per cent more than the deposit growth during Jan-March 2021 (3QFY21) indicating the presence of large liquidity, the State Bank of Pakistan (SBP) said on Friday.
In its quarterly Islamic Banking Bulletin, the SBP noted that deposit base of IBI grew by Rs68 billion during 3QFY21 while investments went up by Rs84bn. Investments (net) of IBI registered an increase of Rs84bn during the period and stood at Rs1,345bn by end of March 2021.
Daily Times
May 1, 2021
A meeting of the Board of Directors of The Bank of Punjab was held on April 29, 2021 to consider and approve the un-audited Financial Statements for the 1st quarter of year ended March 31, 2021.
The Board reviewed the financial position for the 1st quarter of year 2021 and expressed satisfaction on overall performance of the Bank. It was noted with pleasure that all financial indicators are positive and the Bank would achieve set strategic business targets.
During 1st quarter of year 2021, Bank’s Net Interest Margin (NIM) improved to Rs. 6.87 billion as against Rs. 5.90 billion during 1st quarter 2020 registering a growth of 16%. Similarly, Non-Markup / Interest Income increased to Rs. 2.53 billion as against Rs. 2.00 billion during 1st quarter 2020 showing an increase of 27%. During 1st quarter of the year, the Bank posted after tax profit of Rs. 1.83 billion as against Rs. 1.50 billion earned during 1st quarter of year 2020 with a growth of 22%. Earnin