Aug 17 - 23, 1996

Bolan Bank, the Peshawar-based private bank registered a 56% increase in total deposits year-on-year which rose from Rs 1.73 billion to Rs 2.7 billion, and a 13% increase in the last six months. Advances too, grew 75% over the year to close at Rs 1.437 billion and 30% over the last half-year.

Pre-tax profit for the six month period ended June 30, 1996 climbed 20% from Rs 40 million to Rs 48 million, while after tax profits fell slightly by almost 1% to Rs 20.067 million.

Income was driven mainly by interest income which rose 38% from Rs 133 million end June 1995 to Rs 183 this year. Non-interest income climbed 47% from Rs 19 million to Rs 28 million.

Expenditure on interest rose substantially by 38% from Rs 61 million to Rs 84 million, while non-interest expenditure rose by as much as 55% from Rs 51 million to Rs 71 million with salaries risaing more than 38% over the year.