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 on59,075,32148,916,006
Mark-up on lease finance1,041,4042,910,848
Return on placements76,501,1004,353,218
Return on investments94,193,245120,723,419
Fees and commission4,012,0006,000
Profit on bank deposits1,348,6231,816,812
Other income3,526,5773,612,667
———–———–
239,698,270182,338,970
Expenses
Return on certificates of deposit84,324,84764,219,351
Return on term finance certificates37,304,82462,484,241
Mark-up on short term running finance1,746,37691,245
Mark-up on borrowings from financial institutions74,420,57232,266,721
Amortization of premium on held to maturity investments13,204,34612,218,197
Administrative and other operating expenses62,496,97291,007,481
Impairment on available for sale investments412,3032,733,412
Other Financial charges130,748273,035
———–———–
274,040,988265,293,683
———–———–
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)
Taxation2,942,978168,104
———–———–
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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