In the first quarter of 2024, Askari Bank Limited recorded a profit of Rs3.74 billion, marking a 20.49% decrease compared to the same period last year. This means that the bank earned less money this year compared to what it earned last year during the same time.
Despite this decrease in profit, the bank’s net interest income (NII) increased by 8.22% to Rs12.92 billion. NII is the money the bank earns from loans and other investments.
Additionally, the bank’s total non-markup income, which includes income from fees and commissions, as well as foreign exchange, rose by 22.57% to Rs3.85 billion. This means that the bank made more money from these sources compared to last year.
Moreover, Askari Bank Limited reported a significant improvement in its securities trading, achieving a profit of Rs273.55 million, compared to a loss of Rs91.32 million in the first quarter of 2023.
Securities trading involves buying and selling stocks and bonds. Overall, while the bank’s profit decreased, its income from interest, fees, and securities trading increased, showing positive trends in its financial performance.
