Bank Islami posts profit after tax of Rs 973m for 9M2019.

KARACHI -- The Board of Directors of BankIslami Pakistan Limited, in their meeting held in Karachi, approved the Bank's un-audited financial results for the nine months ended September 30, 2019.BankIslami recorded operating profit before provisions of Rs. 2,784m, which is 18.3 times higher as compared to Rs. 144m generated during the same period last year. Growth of 76.5% in net spreads earned, emanating from increase in earning assets of the Bank and rise in SBP policy rate, was the main contributor in improving the bottom line. Improvement in cost to income ratio from 97.2% to 66.2% was registered during the period. Taking a prudent view, the Bank booked additional provisioning against any potential delinquencies, and posted profit after tax of Rs. 973m for nine months ended September 30, 2019 which is 8.8 times better than PAT...