KARACHI: The Summit Bank Limited recorded a profit of Rs494.54 million, translating into the earnings per share (EPS) of 19 paisas during the quarter ended June 30, 2022, a statement issued by the bank said on Tuesday.
The bank recorded a loss of Rs186.11 million, translating into the loss per share (LPS) of Rs0.07 during the same period of last year.
The bank’s fee and commission income clocked-in at Rs124.13 million and the foreign exchange income came at Rs238.35 during the quarter under review.
The other income of the bank settled in at Rs10.67 million during the period under review, while the total non-markup income clocked-in at Rs383.29. The bank did not announce any cash dividend and bonus shares.
Summit Bank has introduced its Riba-free banking services with the aim to convert the whole bank into a full-fledged Islamic bank.
The bank has established its Shariah Board consisting of eminent Shariah scholars to provide its customers with Shariah compliant products and services to fulfill their financial needs and to supervise the bank’s transitional phase of conversion, it was said on the official website of the bank.
The bank has 48 branches distributed in 23 cities, which are now offering Islamic banking opportunities with an extensive range of products and services.
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