KARACHI: The Silkbank Limited reported profit after tax (PAT) of Rs116.83 million for the half-year ended June 30; down 84 per cent compared to Rs745.91m during the same period last year translating into earning per share of Rs0.01.

The bank’s operating profit clocked in at Rs858m for the period under review whereas net interest income grew by 5pc to Rs3.47 billion compared to corresponding period last year.

Deposits substantially increased by Rs16bn as compared to December 2018, taking the total deposit base to Rs148bn. On the other hand, gross advances increased by Rs8bn reflecting a growth of 8pc in the first half of 2019, said the press release issued by the bank.

Hascol posts Rs5.42bn loss

Hascol Petroleum Limited unveiled its 2QCY19 financial results posting loss after tax at Rs5.42bn or loss per share at Rs27.22 against PAT of Rs299m and earning per share at Rs1.50 on a year-on-year basis.

Results were significantly below market expectations due to depletion in gross margins. The loss for the 1HCY19 amounted to Rs11.2bn resulting in loss per share of Rs56.09.

Published in Dawn, August 30th, 2019