Apna Microfinance Bank Limited conducted its Board of Directors meeting on 31 August, where the board reviewed the financial results.
Based on the year-on-year comparison, Apna Microfinance Bank’s net markup/interest income increased by 39 per cent, and an overall reduction of 89 per cent in total provisions resulted in 148 per cent rise in markup/interest income after provisions.
Furthermore, total non-mark-up/non-interest income witnessed substantial increments of 824 per cent.
Although the total non-mark-up/non-interest expenses increased by 19.8 per cent, and tax reversals during last year converted to tax provisions this year, the company still managed to converts its previous year’s losses to a profit of Rs32.4 million.
Apart from this, Apna Microfinance Bank’s basic and diluted earnings per share transformed from a loss of Rs1.14 per share to an earning of Rs0.01 per share.
