Home / Financial Results / Escort Invest Bank Limited’s financial results for the year ended 30th June, 2011

Escort Invest Bank Limited’s financial results for the year ended 30th June, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held at 02:00 PM on Friday, 04th November 2011 approved the audited Annual Accounts of the company.

The financial results of the Company are enclosed.

Profit and Loss Account for the Year Ended June 30, 2011

 

2011

2010

Rupees

Rupees

Income
Profit on 59,075,321 48,916,006
Mark-up on lease finance 1,041,404 2,910,848
Return on placements 76,501,100 4,353,218
Return on investments 94,193,245 120,723,419
Fees and commission 4,012,000 6,000
Profit on bank deposits 1,348,623 1,816,812
Other income 3,526,577 3,612,667
———– ———–
239,698,270 182,338,970
Expenses
Return on certificates of deposit 84,324,847 64,219,351
Return on term finance certificates 37,304,824 62,484,241
Mark-up on short term running finance 1,746,376 91,245
Mark-up on borrowings from financial institutions 74,420,572 32,266,721
Amortization of premium on held to maturity investments 13,204,346 12,218,197
Administrative and other operating expenses 62,496,972 91,007,481
Impairment on available for sale investments 412,303 2,733,412
Other Financial charges 130,748 273,035
———– ———–
274,040,988 265,293,683
———– ———–
Operating loss before provisions and taxation (34,342,718) (82,954,713)
Provision for doubtful finances (321,482) (3,356,546)
———– ———–
Loss before taxation (34,021,236) (79,598,167)
Taxation 2,942,978 168,104
———– ———–
Loss after taxation (31,078,258) (79,430,063)
Other comprehensive income – net of tax
———– ———–
Total comprehensive loss – net of tax (31,078,258) (79,430,063)
———– ———–
Loss per share – basic and diluted (0.70) (1.80)

 

For more information, contact:
Escort Invest Bank Limited
Escort House, 26 Davis Road,
Lahore, Pakistan
Tel: (92-21) 3637 1931
Fax: (92-21) 3637 5950

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