Askari Bank Records Profit of Rs21.4 Billion in 2023

In 2023, Askari Bank revealed a substantial surge in its financial performance, reporting a profit after tax (PAT) of Rs21.54 billion. This marked a notable increase of 53% compared to the previous year’s figure of Rs14.06 billion. The bank’s consolidated financial results, disclosed to the Pakistan Stock Exchange (PSX), unveiled an earnings per share of Rs14.83, a significant rise from Rs9.7 in the corresponding period of the prior year.
Furthermore, the board of directors announced a final cash dividend of 2.5 per share for the fiscal year ending December 31, 2023, equating to 25% of the dividend payout.
Throughout the year, Askari Bank witnessed a substantial increase in interest revenue, reaching Rs305.63 billion, representing an 84% surge compared to the previous year’s figure of Rs165.79 billion. Consequently, the bank’s net interest income for 2023 amounted to Rs59.45 billion, reflecting a notable increase of 49% compared to the same period in the previous year, where it stood at Rs39.96 billion.