Sindh Bank approves annual audited accounts

Karachi—The board of directors (BoD) of Sindh Bank has approved the annual audited accounts for the year ended December 31, 2015. During the year the bank earned a profit before tax of Rs 2,051 Million registering an increase of 27.3% as compared to Rs 1.612 Million of last year. Profit after tax and earnings per share were reported at Rs 1,230 Million and Rs 1.23 respectively.
The bank maintained an overall growth in deposits, advances and accounts opened as Deposits increased by 36% and stood at Rs 84.076 billion as compared to Rs 61.884 billion as on December 31, 2014, Gross Advances rose by 13.4% to Rs 46.708 billion as against Rs 41.201 billion as on December 31, 2014, and number of accounts stood at 358,084 registering an increase of 115% over 2014. The network expanded to 250 on- line branches spread over 125 cities/towns across Pakistan. This included 13 dedicated Islamic Banking branches (IBBs) and 2 Islamic Banking windows (IBWs), providing a wide range of market based Shariah Compliant products and services.—PR

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