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Reading: State Bank of Pakistan’s profit nocks at Rs311.8b
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PhotoNews Pakistan > Business > State Bank of Pakistan’s profit nocks at Rs311.8b
Business

State Bank of Pakistan’s profit nocks at Rs311.8b

Web Desk
By Web Desk Published November 1, 2014 2 Min Read
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The  profit of the State Bank of Pakistan (SBP)  for 2013-14 was loged  at Rs311.8 billion.

The report released on Friday about the SBP’s annual performance review for 2013-14, the consolidated profit and loss account showed interest earned by the central bank amounted to Rs306 billion in the last fiscal year, which is 22% higher than the mark-up earned during 2012-13.

The consolidated profit of the SBP and its subsidiaries for 2013-14  up 32.2% from the consolidated earnings of Rs235.9 billion recorded in the preceding fiscal year.

The other key highlights of the SBP’s performance as follows

  • The mark-up expensed in the last fiscal year almost doubled to Rs15.3 billion.
  • The net exchange gain remained Rs14.1 billion, up 110.5% from Rs6.7 billion in the preceding fiscal year.
  • Total assets  expanded 19.5% in 2013-14
  • Total liabilities also increased 19.1% during the last fiscal year.
  •  Foreign exchange reserves continued to fall with the exchange rate depreciating by 5.4%.
  • The external current account deficit remained low, increased inflows in the form of CSF money, 3G licence fee, receipts of Euro bonds and loans.
  • As for Islamic banking, total assets of the industry recorded growth of 20.5% in 2013-14. The Islamic banking industry’s asset base increased to more than Rs1 trillion and constituted nearly 10% of the overall banking industry by the end of the last fiscal year.
  • Deposits of the Islamic banking industry increased to Rs932 billion in June representing a share of 10.6% in the overall banking industry deposits, it said.
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