Askari Bank Reports Massive Increase in Profits During COVID-19 Pandemic

Askari Bank Limited (ABL) maintained high growth in profitability by 87 percent by the end of nine months of 2020 as compared to the corresponding period of last year.

According to the financial results, the bank posted an 87 percent increase in its profit to Rs. 8.2 billion for the nine months period ended September 30, 2020, translating into earnings per share (EPS) of Rs. 6.50.

The bank earned Rs. 4.382 billion with EPS of Rs. 3.48 in the corresponding period last year. The bank didn’t announce any interim cash dividend for the period under review.

The net Interest Income of the bank was settled at Rs. 22.5 billion during the nine months period, registering 39 percent growth YoY.

The bank has extensively worked on financing to the private sector including the exclusive schemes introduced by the central bank to combat the economic jolts of the coronavirus pandemic.

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