Silk Bank Limited Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Impairment in the Value of Investment for the Second Quarter of 2015
For the six months, the company reported net mark-up/interest income was PKR 1,482,945,000 compared to PKR 1,742,350,000 a year ago. Loss before taxation was PKR 157,257,000 compared to profit before taxation of PKR 77,168,000 a year ago. Loss after taxation was PKR 95,629,000 or PKR 0.03 per diluted share compared to profit after taxation of PKR 72,633,000 or PKR 0.03 per basic and diluted share a year ago. Net cash flows from operating activities was PKR 14,126,997,000 against PKR 3,336,126,000 a year ago. Net investment in operating fixed assets was PKR 277,823,000 against PKR 99,115,000 a year ago.
The bank also reported impairment in the value of investment of PKR 10,489,000 for the second quarter of 2015 compared to PKR 16,761,000 for the same period a year ago.