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.