Silk Bank Maintains a Profit of Rs. 150 Million During Three Quarters of 2020

Silk Bank has maintained a healthy profit recovery of Rs. 150.84 million from January to September 2020, despite the prevailing scenario of the COVID-19 outbreak across the country.

The bank reported a significant loss of Rs. 2.76 billion in the same period of 2019. The bank closed the past year with nearly Rs. 3.9 billion in losses, and then gradually improved its situation by curtailing its losses drastically.

As a result, the bank’s deposit base grew to Rs. 88 billion by the end of September 2020.


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The bank claims to be one of the three top banks, which witnessed increased credit card payment through digital banking. The bank’s paid-up capital value stood at Rs. 10.4 billion, whereas the capital adequacy ratio stood at 4.16 percent against the target level of 11.5 percent. The bank’s management assured the central bank that it would be able to meet the regulatory requirement by the end of March next year.

The management’s next strategy is to maintain the profitability of the bank with controlled expenditures.

The management will also look to increase deposit mobilization, in addition to the revival of the mortgage financing business. The bank has obtained approval from the State Bank of Pakistan for setting up the Islamic Development REIT Fund. This approach is targeted for the resolution of the bank’s massive non-performing loans (NPLs), including the disposal of non-banking assets.

Silk Bank is operating with 123 branches, including 30 branches of Islamic banking, across the country.



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