Askari Bank announced 87% increase in profits

Askari Bank announced post tax profit of Rs. 8.21 billion for the nine months ended September 30, 2020, showing a strong growth of 87% over the corresponding period of last year. Earnings per share were reported at Rs. 6.50 compared to Rs. 3.48 for the same period last year. Customer deposits increased by 13% and are reported at Rs. 764 billion. CASA ratio improved from 82% to 86%. The results are remarkable amidst Covid-19 challenges in the economic environment. 

Askari Bank has been reporting consistently good results in recent periods. Leveraging its brand strength and technology with focus on key drivers for customer experience, the Bank’s strategies have delivered consistent growth in revenues, and a broadened customer deposit base. Askari digital banking services offer a wide range of banking solutions for the retail customer. The Bank actively supported businesses affected by Covid disruptions through  participation in SBP’s relief schemes. Askari was ranked amongst top five banks to support SBP Rozgar scheme, a refinance scheme introduced by the SBP to support continuity of employment under Covid-19.