Standard Chartered Pakistan pre-tax profit of Rs 5.9 billion during 1st Q 2021

KARACHI ( Web News )

The country’s largest and oldest bank international bank, Standard Chartered Bank (Pakistan) Limited has announced financial results for the first quarter of 2021.

The bank has performed flexible financial performance with pre-tax of Rs 5.9 billion. In comparison to the fourth quarter of the last quarter (Q4’20), this profit is more than 61%, which is the main reason for improvement in excellent recovery and intellectuals regarding the risk.

During the review period, the bank had an income of Rs 8.3 billion, which has rapidly decreased interest, weak financial activity and uncertainty of market.

According to Excellent Performance and Principles Excellent discipline of operating costs and last year, compared to the same period, 2% increased. Bank continued to invest in technology and digital infrastructure so that the development can be made in the distrust and can provide modern services to their clients.

Additionally, with the best recovery of incredible loans, with the performance of the risk, with the risk of risk, due to the increase of 573 million rupees during the first quarter of 2021, while last year, the same period During it was 187 million rupees.

All business sectors are dynamic and they remain the basic motives of sustainable development. It is expressed by increasing pure advancements, which has increased by 20 percent since the beginning of this year. It was the result of the target strategy, whose goal was to achieve profits and high quality and stable portfolio. Due to the product, the bank is in excellent position that they can fulfill their clients’ needs.

Deposits last year and in the first quarter of 2021, the total deposits of the bank increased to 1.2 billion while
Rs 6 billion rupees increased by rupees and cavity accounts and thus increased by 1 percent since its beginning is 93% of total deposits.

Commenting on these financial results, Chief Executive Officer of Standard Chartered Bank (Pakistan) Limited, Rihan Sheikh said: “I am pleased to announce that the bank has continued to give good results and expresses 2021 Our performance happens in the first quarter. Despite this results, strict external environment, our solid foundation and strong business principles are expressed.

After the wake up of the third wave of Cood19- in Pakistan, our attention focuses on the health and improvement of our staff and clients and great improvement of our communities. Despite external challenges, our digital travel continues to be very good and it continues to increase digital advertising and volume because we are doing more and more modern solutions, for our clients. Our attention is also focused on the journey of our transmission so that in the future when the world comes in reset, the bank can keep its position. We also have a gradual progress in strengthening the environment of control and complications. As we are moving, we have our own