September 09, 2022: President ZTBL Muhammad Shahbaz Jameel handed over a cheque to Federal Minister for Finance and Revenue Mr. Miftah Ismail, worth Rs50 million for flood victims, at Finance Division, today.
The Zarai Taraqiati Bank Limited (ZTBL) contributed 10% of its net profit to flood victims.
In June 2022, ZTBL registered Rs514mn after-tax profit, thus converting the loss-making state-owned enterprise into a profitable entity after years.
Out of its earned profit in June 2022, ZTBL said it earmarked 10% (Rs50mn) of the net profit to flood-ravaged areas. In December 2020, the bank had sustained Rs3.2bn pre-tax losses and Rs2.5bn after-tax loss.
However, in December 2021, ZTBL’s after-tax loss was Rs1.7bn while the bank registered a pre-tax profit (Rs1.8bn) in the same period. In a major development, ZTBL registered Rs514mn after-tax profit and Rs2.9bnpre-tax income while the revenue generated by the agri-financing bank has met the entire operating expenses and taxation impact.
Press Release
Posted on:2022-09-09T13:16:25+05:00
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