Askari bank posts record profit.

Askari Bank announced its results for 2019 showing highest-ever profit of Rs. 7.03 billion, a 59% percent increase from last year.

EPS for 2019 is reported at Rs. 5.58 compared to Rs. 3.51 last year. The Bank also announced a cash dividend of Rs. 1.5 per share that is 50% higher than last year. The profit and loss statement is showing an impressive growth in all revenue lines and is also reflecting quality asset portfolios as the provisions against non-performing assets declined by 47%, despite a challenging economic and business environment where industry non-performing loans are on the rise. Given these challenges, Askari Bank results for 2019 are noteworthy and appears to have significantly exceeded market expectations.

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