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Askari Bank’s Profits Decline by 10% in CY2021

Askari Bank has reported a 10 percent drop in profits to Rs. 9.71 billion for the year ended December 31, 2021.

The bank made an interest income of Rs. 32 billion in 2021 as compared to Rs. 30.2 billion reported in 2020. The non-markup income dropped to Rs. 9.5 billion from Rs. 9.8 billion income reported in 2020. Expenses, on the other hand, grew to Rs. 21.3 billion in 2021 from Rs. 20.3 billion reported in 2020.

The earnings per share of the bank were also reduced to 7.71 from 8.61. The bank’s board of directors did not declare any dividend for the shareholders.

During the outgoing year, the bank witnessed a leadership transition with renowned banker Atif Bokhari taking the helm of affairs. The bank is presently undergoing human resource rationalization in order to maintain efficiency in its operations.

Askari Bank’s management is working on three-year transformation plans to upgrade the bank’s operations by introducing advanced business practices and technological measures to perform better than earlier

Source: Pro Pakistani