Business Services Industry
PAKISTAN'S ISLAMIC INVESTMENT BANK POSTS PROFIT OF US$931,000.
AsiaPulse News, June, 2004
LAHORE, June 18 Asia Pulse - Islamic Investment Bank Limited (IIBL) - one of the oldest and most diversified investment banks - has posted a profit of Rs54 million (US$931,000) for the year ending December 31, 2003.
The IIBL claims to have the largest number of branches and the highest deposit among investment banks in the country. Its current chairman, Bashir Ahmad - a leading financial manager with an impeccable reputation for integrity - was inducted as the Chairman of the Board. He and his team have made sterling efforts to turn around the bank and their efforts have started bearing fruits.
The bank closed its annual accounts on December 31, 2003 with a profit of Rs54 million and has declared a cash dividend of 5 per cent with the approval of the Board....
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