Lahore, May 16, 2014 (PPI-OT): The senior management of Silkbank Ltd visited The Lahore Stock Exchange to participate in the Corporate Briefing Program. CBP is an interactive program initiated by the Lahore Stock Exchange under the Corporate Communications Department to encourage companies to come forward and share their financials and non financial projects before the members, TREC Holders, investors and the media to abridge the communication gap between the listed companies and the market participants.
CFO, Silkbank Ltd – Mr. Azfar Naqvi addressed the participants explaining and highlighting the financial performance of the company. He explained that despite economic and social challenges facing the country and the industry, Silkbank remained persistent in focusing its strategic direction which has resulted in gradually strengthening its position in the banking sector.
While speaking about the company’s achievements, Mr. Naqvi shared that the group has expanded its operations adding 33 new branches across the nation since 2008. He also informed that new products and services have been introduced such as Emaan Islamic Banking, Visa Credit Card, Consumer Personal Loan, Consumer ready line, Visa Debit card, Bancauurance, Alternate Delivery Channels and various deposit products.
Mr. Naqvi stressed that Silkbank Ltd would continue its focused approach in maintain low cost of funds and reduction in expense base to further improve the financial performance of the Bank. Managing Director – Lahore Stock Exchange, Mr. Aftab A. Ch while addressing the participants stated that the purpose of the Corporate Briefing Program is to encourage the listed companies to regularly engage with the investment community and appraise them about the latest performance and the growth prospects about their company.
He expressed that Corporate Briefing Program helps the current investors to make well reasoned investment decisions about their investment in debt and equity securities. He stated that LSE considers it essential for the companies to participate in such programs so that there is no information asymmetry regarding our listed companies.
Corporate Briefing Program (CBP) aims to bridge the gap between the listed companies and investor’s community and provide them with an opportunity to share company’s first hand information. The basic goal of the Corporate Briefing Program is to enhance investor’s understanding of financial statements, company’s short term and long term projects.
CBP is an opportunity for investors to better understand the economic/financial affairs of a company which might affect company’s share price and ultimately impact their investments as well as investment decisions.
The LSE under this initiative will be conducting regular programs for different listed companies. Management of the companies shall brief and explain the investors about company’s assets and liabilities, financial soundness, credit worthiness, current and expected revenue and growth rates.
For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Cell: +92 306 4506086
Tel: Direct +92 4236280792, +92 423636 8000 Ext. 5031-5032
Fax: +92 42 3636 8485 – 111 441441