Asset base of Islamic banking industry grew by 8pc during April-June 2017 quarter

Karachi: An Islamic Bulletin Banking report issued by the State Bank of Pakistan on Monday revealed that the asset base of the Islamic banking industry had risen by 8pc, said a local newspaper article.

Total assets of Islamic banking industry were said to have crossed the Rs2 trillion mark at end of April-June 2017 quarter.

An increase of Rs0.15t was reported in total assets of IBI to reach Rs2.035t during April-June quarter compared to Rs 1.885t at end of March.  An increase of 16.6pc was reported in total assets of IBI till June 2017 from Rs1.745t during same period last year (SPLY).

Deposits of the IBI for the April-June quarter were reported to have increased by Rs156 to touch Rs1.720t compared to Rs1.564t in SPLY.

Islamic banking assets formed 11.6pc of the total banking industry assets and deposits share was 13.7pc for total banking industry assets by end of June 2017.

Return on Equity (ROE) and Return on Assets (ROA) saw a marginal increase of 13.8pc and 0.9pc respectively for the IBI.

The operating expenses to gross income ratio recorded a fall of 2.9pc during April-June 2017 quarter. A total of 21 Islamic banking entities are operating within Pakistan, which include 5 full-fledged Islamic banks and conventional banks had 16 Islamic banking branches by end of June 2017.

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