Subdued economic conditions prevailing in the country affected many key economic sectors, impacting the financial performance of many businesses. Amidst rising NPLs, increased credit cost and moderation of credit growth, the group pre-tax profits recorded a 2% increase over the previous period. The slowdown in growth is largely stemmed from increased impairment charges whilst post-tax profits dropped by 13% largely due to the Rs. 625 million impact arising from the Debt Repayment Levy. The bank’s post-tax profits recorded a larger drop of 23% due to the inter-company dividend income recorded in the corresponding period of 2018. - Daily Ft



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