An Eye On The
Future!
Our Strategy
moves on…
I am delighted to update
you on the performance of Escorts Investment Bank during the Half-Year
July ~ Dec 2005.
To my distinguished friends who have been reading
my Reviews regularly, the format and phrases may sound more and
more familiar. I am increasingly conscious of the fact that such
familiarity, more often than not, may lead to a sense of boredom;
but then I am reminded of the cardinal Accounting Principal - Substance
over Form. I am very confident that you will forgive the repetition
of the frame and appreciate the perseverance and consistency of
effort that goes into painting the sort of figures this frame displays,
quarter-after-quarter and year- after- year.
The Financial Highlights quoted below would
amply reflect the Team Effort that has become the claim to fame
of our Bank.
Financial Highlights (As at Dec. 31, 2006)
| UnAudited Figures |
......Rupees
in Million |
Sr.#
|
Description |
Dec.
2005 |
Dec.
2004 |
Varience
% |
| 1 |
Gross Revenue |
317 |
153 |
107 |
| 2 |
Profit After Tax |
81 |
42 |
93 |
| 3 |
Shareholder's Equity |
656 |
412 |
59 |
| 4 |
Deposits & Borrowings |
3,410 |
2,338 |
46 |
| 5 |
Financing |
579 |
440 |
32 |
| 6 |
Investmetns & Placements |
2,824 |
1,905 |
48 |
| 7 |
Total Assets |
4,256 |
3,054 |
39 |
| 8 |
Earnings Per
Share ...........................Rs. |
2.04 |
1.28 |
59 |
| 9 |
Return on Average Equity .................% |
27.21 |
21.46 |
5.75 |
Credit Rating Up-graded
JCR VIS Credit Rating Agency has upgraded the
Bank's Short-Term Credit Rating from A-2 (A two) to A-1 (A one),
while Medium to Long-Term Credit Rating has been maintained at A
(Single A) with Stable Outlook.
This recent up-gradation of the Short-Term
Credit Rating and maintenance of the Long-Term Credit Rating takes
into account:
|
Broadened Business
Activity |
|
Improved Earnings |
|
Enhanced Equity
Base |
|
Improving Diversification |
|
Strong Liquidity
Profile |
Salient Features of Progress
The focus on Enhanced Profitability and Sustainable
Growth through broader range of Products & Services, Capacity
Building in terms of Human Resource, Infrastructure, Systems Support
and Risk Management Policies, has resulted in a twofold increase
in the net profitability of the Bank, during the period under review.
Asset Quality has been maintained at the highest levels. Good Governance
and Best Business Practices remain the Guiding Principle for all
our Operational Activities.
The Bank's Equity base increased by 21 % during
the period under review. On the Product diversification side, issuance
of License to undertake Leasing Business by SECP has been an important
development. In the coming months, focus would be
on the deployment of the requisite Human Resource, Systems and Infrastructure
for the development of our Leasing Operations.
Moving Forward
Moving forward, the outlook for Escorts
Investment Bank remains very positive.
I take this opportunity to thank the Board of Directors for their
most valuable guidance. I would also like to place on record my
sincere appreciation and
admiration for each and every member of the Escorts Team for their
unrelenting efforts and total commitment to professional excellence.
With warm regards,
Sincerely,
Rashid Mansur
President & CEO
February 24, 2005
Lahore
|
