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Bank profits down 3pc

Updated September 01, 2018

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KARACHI: Pakistan’s banking sector profitability declined by three per cent to Rs39 billion in 2QCY18 mainly due to increased expenses incurred by big banks on pension and compliance costs, said a report issued by the Topline Securities on Friday.

The report calculated results of all the listed banks that have announced 2QCY18 financial results, except for Summit Bank.

Net interest income (NII) of the banks improved by 8pc year-on-year to Rs124bn in the period under review, led by higher interest rates and improved deposit mix.

Published in Dawn, September 1st, 2018