Financials - Half Yearly
Summit Bank Limited
Consolidated Balance Sheet
  As at June 30, 2016
(Rupees in ' 000)
 
Jun 30, 2016
Dec 31, 2015
Assets
Cash and balances with treasury banks 13,340,424 10,539,924
Balances with other banks 2,414,196 2,919,394
Lendings to financial institutions 5,831,710 1,000,000
Investments 98,191,946 78,017,781
Advances 72,954,416 70,554,280
Operating fixed assets 10,883,878 9,608,669
Deferred tax assets - net 5,867,402 5,545,433
Other assets 11,569,920 10,180,214
  221,053,892 188,365,695
Liabilities
Bills payable 2,612,092 2,728,797
Borrowings 72,235,098 49,755,998
Deposits and other accounts 129,523,418 119,742,108
Sub-ordinated loan 1,496,895 1,497,240
Liabilities against assets subject to finance lease - -
Deferred tax liabilities - -
Other liabilities 3,052,246 2,693,008
  208,919,749 176,417,151
Net assets 12,134,143 11,948,544
Represented by
Share capital 17,786,663 10,779,796
Convertible preference shares 2,155,959 2,155,959
Advance against subscription of shares 957,745 7,006,867
Reserves (1,722,341) (1,722,341)
Accumulated losses (8,444,047) (7,430,321)
  10,733,979 10,789,960
Surplus on revaluation of assets - net of tax 1,400,164 1,158,584
  12,134,143 11,948,544

Summit Bank Limited
Consolidated Profit and Loss Account
  For the six months ended June 30, 2016
(Rupees in ' 000)
 
Jun 30, 2016
Jun 30, 2015
Mark-up / return / interest earned 5,456,001 5,253,935
Mark-up / return / interest expensed (4,161,529) (3,858,272)
Net mark-up / interest income 1,294,472 1,395,663
Provision against non-performing loans and advances (1,153,562) (695,070)
Provision for diminution in the value of investments (64,349) (141,732)
Bad debts written off directly - (4,166)
  (1,217,911) (840,968)
Net mark-up / interest income after provision 76,561 554,695
Non mark-up / interest income
Fee, commission and brokerage income 603,018 597,348
Dividend income 27,187 31,621
Income from dealing in foreign currencies 273,876 276,233
Gain on sale of securities - net 596,375 1,412,004
Gain on disposal of operating fixed assets 7,953 7,787
Unrealised (loss) / gain on revaluation of investments classified as held-for-trading (6,408) (3,753)
Other income 32,205 56,286
Total non-mark-up / interest income 1,534,206 2,377,526
  1,610,767 2,932,221
Non mark-up / interest expenses
Administrative expenses (2,980,480) (2,642,449)
Other provisions / write-offs (13,006) (10,549)
Other charges (43,586) (15,752)
Total non mark-up / interest expenses (3,037,072) (2,668,750)
  (1,426,305) 263,471
Extra ordinary / unusual items - -
(Loss) / profit before taxation (1,426,305) 263,471
Taxation
- Current (68,550) (68,169)
- Prior years - -
- Deferred 450,484 (119,975)
  381,934 (188,144)
(Loss) / Profit after taxation (1,044,371) 75,327
(Loss) / earnings per share - Basic (0.48) 0.05
Auditor(s):

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