Financials -  Yearly
Summit Bank Limited
Consolidated
Statement of Financial Position
  As at December 31, 2017
(Rupees in ' 000)
 
Dec 31, 2017
Dec 31, 2016
Assets
Cash and balances with treasury banks 13,556,734 12,786,629
Balances with other banks 2,440,437 2,582,694
Lendings to financial institutions 10,671,003 1,631,583
Investments 95,023,608 90,364,950
Advances 85,522,644 79,844,271
Operating fixed assets 12,714,481 12,326,303
Deferred tax assets - net 5,332,656 5,151,050
Other assets 7,765,228 10,298,579
  233,026,791 214,986,059
Liabilities
Bills payable 3,065,379 5,061,470
Borrowings 67,307,766 49,819,840
Deposits and other accounts 145,606,731 142,735,727
Sub-ordinated loans 1,495,860 1,496,550
Liabilities against assets subject to finance lease - -
Deferred tax liabilities - -
Other liabilities 4,494,151 3,227,249
  221,969,887 202,340,836
Net assets 11,056,904 12,645,223
Represented by
Share capital 26,381,510 17,786,663
Convertible preference shares - 2,155,959
Advance against subscription of shares - 1,854,870
Reserves (6,306,359) (1,722,341)
Accumulated losses (10,544,427) (9,541,930)
  9,530,724 10,533,221
Surplus on revaluation of assets - net of deferred tax 1,526,180 2,112,002
  11,056,904 12,645,223

Summit Bank Limited
Consolidated Profit and Loss Account
  For the year ended December 31,2017
(Rupees in ' 000)
 
Dec 31, 2017
Dec 31, 2016
Mark-up / return / interest earned 10,632,454 10,629,247
Mark-up / return / interest expensed (7,745,051) (7,853,065)
Net mark-up / interest income 2,887,403 2,776,182
Reversal / (Provision) against non-performing loans and advances - net 177,585 (1,910,761)
Provision for diminution in the value of investments - net (30,274) (13,527)
Bad debts written off directly (16,861) (114)
  130,450 (1,924,402)
Net mark-up / interest income after provisions 3,017,853 851,780
Non mark-up / interest income
Fee, commission and brokerage income 1,346,941 1,350,831
Dividend income 105,918 63,296
Income from dealing in foreign currencies 620,640 488,272
Gain on sale of securities - net 366,957 1,189,824
Gain on disposal of operating fixed assets - net 35,733 47,426
Unrealised loss on revaluation of investments classified as held-for-trading - net (15,885) (16,009)
Other income 122,079 101,643
Total non-markup / interest income 2,582,383 3,225,283
  5,600,236 4,077,063
Non mark-up / interest expenses
Administrative expenses (6,165,326) (5,902,575)
Other provisions / write-offs (99,731) (71,822)
Other charges (66,328) (43,559)
Total non-markup / interest expenses (6,331,385) (6,017,956)
  (731,149) (1,940,893)
Extra ordinary / unusual items - -
Loss before taxation (731,149) (1,940,893)
Taxation - current (175,590) (132,029)
             - prior years - -
             - deferred (220,616) (118,557)
  (396,206) (250,586)
Loss after taxation (1,127,355) (2,191,479)
Basic loss per share (Rupees) (0.50) (1.01)
Diluted loss per share (Rupees) (0.50) (1.01)
Auditor(s):

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