As a result, profit before income tax recorded an improvement of 6.68% over the previous year to Rs 24.520 billion for 2020. The higher income tax incurred in 2020 led to profit after tax declining by 1.91% to Rs 17.087 billion. Total assets of the Group grew by Rs 354 billion or 25.09% to Rs 1.763 trillion as at 31st December 2020. Gross loans and advances of the Group grew by Rs 31.122 billion or 3.34% to Rs 961.859 billion. The Bank’s interest margin recorded a decline from 3.51% to 3.17%.

Source: The Nation February 24, 2021 17:04 UTC