An Eye On The
Future!
Our Strategy
moves on…
I am delighted to update you on the performance
of Escorts Investment Bank Ltd. during the Quarter July ~ September
2005. It is a matter of great satisfaction that the pattern of growth
has once again been sustained.
I feel privileged to communicate to you,
the reflection of this progress, in the Financial Highlights appended
below:
Financial Highlights (As at Sep. 30, 2005)
| UnAudited Figures |
......Rupees
in Million |
Sr.#
|
Description |
Jul
- Sep
2005 |
Jul
- Sep
2004 |
Varience
% |
| 1 |
Profit After Tax |
40 |
21 |
90 |
| 2 |
Shareholder's Equity |
614 |
391 |
57 |
| 3 |
Deposits & Borrowings |
3,533 |
2,511 |
41 |
| 4 |
Financing |
543 |
406 |
34 |
| 5 |
Investmetns & Placements |
2,985 |
2,322 |
29 |
| 6 |
Total Assets |
4,526 |
3,120 |
45 |
| 7 |
Earnings Per
Share ...........................Rs. |
0.95 |
0.67 |
42 |
| 8 |
Return on Average Equity (% per annum) |
27.64 |
21.88 |
26 |
Other Highlights
|
We have continued
to pursue our Broad Policy Objective of Diversification; both
in terms of Products and Services being offered and also in
terms of
our geographical out-reach. The consequent diversification of
our revenue streams will further reduce future volatility in
our profitability. As these services grow Escorts Bank will
continue to declare consistent, stable and growing returns. |
|
As
another major step towards diversification, the Board of Directors,
during their last Meeting have approved the setting up of leasing
activities, subject to obtaining of requisite License from the
Securities and Exchange Commission of Pakistan (SECP). An application
has already been filed with the SECP. |
|
Our newly established
Investment Services Center (ISC) at Faisalabad has now become
fully operational and is already catering to the investment
needs of a large number of satisfied customers. Another ISC
is ready to be opened shortly at Sialkot. |
|
Ongoing
progress continues in terms of:
|
Asset Quality |
|
System Development
and Automation |
|
Human Resource
Deployment and Capacity Building |
|
Quality of
Governance |
|
Brand Visibility
and Market's Perception about our Bank |
|
Investor Awareness
Initiatives |
|
Lead role
on crucial Sector Specific Issues |
|
While concluding I would like to place on record
my sincere gratitude to the Board
of Directors for their guidance; to all the members of my team for
their unrelenting dedication and high level of professionalism;
to our customers for their loyalty and support and finally the State
Bank of Pakistan and the Securities & Exchange Commission of
Pakistan for their commitment to the process of Financial Sector
and Capital Markets Reforms.
I look forward to sharing with you, many more
positive reviews for the periods to come.
With warm regards,
Sincerely,
Rashid Mansur
President & CEO
|
