Quantcast
Saturday , August 19 2017
Breaking News
Home / Business / Banks earn Rs176 billion profit with 44pc growth in July-Sept
Banks earn Rs176 billion profit with 44pc growth in July-Sept

Banks earn Rs176 billion profit with 44pc growth in July-Sept

KARACHI: The State Bank of Pakistan (SBP) has issued report regarding banks earning during the third quarter of current year.

As per the report, banks earned Rs176 billion profit from July to September 2014, showing 44 per cent growth as compare to the same period of last year. The banks’ investment increased by 148 per cent as compared to the corresponding period of year 2013 as the growth rate of net investment increased by 17.1pc in September this year against 6.9pc of last year’s same month.

The return on assets (ROA) and return on equity (ROE) rose to 1.4 per cent and 15.9 per cent respectively up from 1.1 per cent and 12.3 per cent a year earlier.

The reports showed that the banks earned most of their income from their investment in the government papers which did not change some important variables.

Capital Adequacy Ratio (CAR) of the banking system improved to 15.5 per cent in Sept 2014 compared to 15.1 per cent a quarter earlier largely on the back of healthy profits. However, the CAR did not change compared to the same quarter of the previous year as it was 15.5 per cent in Sept 2013.